Supplemental medical insurance will save seniors big on their healthcare costs for the coming year. There are a few different plans to pick from, and they are the perfect complement to Original Medicare. If you have the basic Medicare plan, then you should at least look into what supplemental insurance can do for you. Any AARP Medicare Supplement for 2020 will be able to offer you some coverage that can reduce medical expenses for you.
What’s a Supplement Plan?
We are talking specifically about AARP and their Supplement plans here, but there is some general information at you need to know about supplementary insurance. The AARP lineup of plans can change from time to time, so knowing about the larger selection and what Supplement plans do in general can be helpful in the coming years.
The first thing to know is that Medicare Supplements are designed to complement Original Medicare. You cannot sign up for the Supplement plan on its own, and it will only work in conjunction with basic Medicare. The Supplements fill in the gaps left by the basic Medicare plan, offering you coverage for deductibles, copayments and other expenses that would normally have to come out of your pockets. Here is a list of all the expenses covered by Supplement plans:
Copayments for Medicare Part A and Part B
Deductibles for Medicare Part A and Part B
Excess charges for outpatient care
Coinsurance for hospice care
Coinsurance for skilled nursing care
Travel costs for emergency medical transport in foreign countries
Three pints of blood each year
AARP Supplement Plans You Should Know about
Now, there are eight major Supplement plans that you can pick from. These are identified by letter names, and they each have their own set of designated coverage. These plans are designed by Medicare, so any private insurer such as AARP that sells them has to stick to the coverage that Medicare has designated for each plan. For instance, Medicare Supplement Plan G is a nearly full coverage plan, and if AARP is selling this plan, they can set the prices they want for it, but they cannot alter its coverage in any way.
Let’s talk about Plan G for a moment. It offers coverage on just about all the medical expenses we listed above as supplemental insurance items. It covers you for everything on that list except for one item, and that would be the Medicare Part B deductible. Check our website for current prices on Plan G and see if it might be affordable for you. If it is, then it could save you a lot of money, particularly if it covers medical expenses that are relevant to you.
Plan N is another one we like to recommend to seniors. It offers a lot of coverage as well, and it only asks that you pay for excess charges for outpatient care, some of the smaller copayments and the same Part B deductible. Everything else on the list above is covered under Plan N. It’s a bit cheaper than Plan G, so it may be better for people who are on a tighter budget.
There is another AARP Medicare Supplement for 2020 that we want to tell you about. That would be Plan F. Now this is a Supplement plan that most people will not be able to sign up for. It has been relegated to delisted status so that the only people who can sign up for it are those who are already Plan F subscribers. Those people can renew their coverage, but no one else can sign up for this Supplement plan. That may work out in most people’s favor, though, since even though Plan F is a full coverage plan, it is also very expensive. It is only going to become more expensive over time as fewer people stick with it as their coverage plan of choice.
If you have AARP Medicare Supplement Plan F or were thinking of signing up for it, then we suggest you look at one of the other plans we have talked about here. They offer some similar coverage at a much better price.
The Perks for Joining AARP
If you sign up for an AARP Supplement plan, then you get more than the medical benefits that we have already talked about. There are some perks that are added to your plan that can come in very handy. The sheer number of perks can raise the cost of the plans when compared to similar plans from other insurance companies. AARP does tend to have higher rates than a lot of their competition, but that is only because of their prestigious status as a company and their wealth of member perks that they offer.
Here are just a few thing that you can enjoy as an AARP member:
Get free financial advice
Reduce home insurance costs
Discount on hearing tests
Discounts on books
Earn rewards by staying a member and using services
AARP offer so much more because they are more than just an insurance company. They are known for their senior-focused services, and that’s why many people choose them over other insurance providers. This is a company that does a good job of taking care of its members, and if they offer a plan you need at a price that you can afford, you may want to consider them.
Whether you go with an AARP Medicare Supplement for 2020 or some other option, we urge you to use our site and compare prices. Even after you sign up for a plan, you can come back here and check the upcoming prices. This can help you to save money and may enable you to choose a more suitable plan that saves you more money or that covers you better. Our site and its services are offered free of charge to you, and there is no obligation to you for using any of it.
Compare Medicare Advantage for 2020