Choosing Medicare Supplement Insurance
Health care expenses can add up and be a burden, particularly if you’re on a fixed retirement income. Health care and out-of-pocket costs for Medicare participants are also on the rise, making the need for supplemental insurance even greater.[2]
Private insurance companies like Erie Family Life offer supplemental insurance policies1 that work with Medicare Parts A and B, the federal health insurance program for people age 65 and older, people under the age of 65 with certain disabilities and people of any age with End-Stage Renal Disease (ESRD).
Medicare Part A (hospital insurance) helps pay for:
- Inpatient hospital care
- Skilled nursing facility care
- Hospice care
- Certain home health care services
Medicare Part B (medical insurance) helps pay for:
- Physician fees
- Outpatient hospital services
- Durable medical equipment
- Some preventive services
With Medicare Parts A and B, you’re required to pay deductibles and coinsurance for Medicare-provided services. Medicare Supplement plans are designed to help pay for costs like deductibles, copayments and coinsurance that you would typically pay out of your own pocket. The costs and benefits will depend on which Medicare Supplement plan you select.
Here are a few more reasons to enroll in a Medicare Supplement plan:
- It helps pay the portion of approved expenses not covered by Medicare.
- With no network, you can choose any doctor or hospital that accepts Original Medicare.
- Coverage is guaranteed if you enroll in the first six months of Medicare Part B eligibility.[3]
- Coverage is guaranteed to renew each year (unless you fail to pay premiums, make untrue statements or commit fraud).
Medicare Supplement from ERIE
Learn more about the coverage you need and what Erie Insurance has to offer.
Levels of Coverage
Medicare Supplement plans, lettered A through N, are designed to meet different levels of coverage needs. An Erie Insurance agent can help you determine what you want your Medicare Supplement insurance policy to cover. For instance, here are a few things to consider.
- Basic benefits (including hospice care)
- Medicare Part A deductible
- Medicare Part A daily hospital copayments
- Medicare Part B deductible
- Medicare Part B copayments
- Medicare Part B excess physician charges
- Skilled nursing facility care copayments
- Emergency care in a foreign country
The policies do not cover long-term care, vision or dental care, hearing aids, eyeglasses or private nursing.
Discounts are Available
In keeping with our founding purpose of providing superior protection and service at the lowest possible cost, ERIE also offers discounts[4] designed to help keep health care costs down. The discounts vary by state:
- Household Discount—This discount is available and varies from state to state. Ask your agent for details.
- Multi-policy Discount—This discount is available when the Medicare Supplement plan covers an ERIE auto, home or life policyholder (not available in all states).
- Multi-Medicare Supplement Discount— available when both spouses are ERIE Medicare Supplement policyholders.
These plans are not connected with or endorsed by the U.S. government or the federal Medicare program. The Medicare Supplement products and services described in this brochure are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare Supplement products are not available in the District of Columbia and New York. This policy has exclusions, limitations, reduction of benefits and terms under which the policy may be continued in force or discontinued. Costs and complete details of the coverage are available through your ERIE agent and in the government guide Choosing a Medigap Policy: A Guide to Health Insurance for People With Medicare.
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