Original Medicare with a Medicare Supplement and No Part D plan means that a Medicare Beneficiary is receiving Part A and Part B of Medicare and purchases a Medicare Supplement (Medigap Plan) to Supplement the Original Medicare Benefits and does not purchase a Medicare Part D plan for Prescription Drug coverage.
Is this option right for me?
•If you have other supplementary coverage for Prescription Drug coverage (for example, VA Drug benefits), this could be a good choice.
•If you prefer a fixed premium to reduce financial exposure, this could be a good choice.
•If you are not willing to accept a network less than all Medicare approved providers, this could be a good choice.
•Financial Exposure to Part A and Part B cost sharing can be virtually eliminated (depending on the Medicare Supplement plan selected) in exchange for a premium with a fixed cost for the year.
•Medicare Supplement plans are “Guaranteed Renewable” which protects insurability.
•Has the same broad network of Providers and Hospitals that Original Medicare offers.
•Unlimited financial exposure for Part D Prescription drug expenses.
•Late Enrollment Penalty would apply for Medicare Prescription Drug benefit unless there is other Creditable coverage.
•There is a premium which must be paid for the Medicare Supplement plan.
•In absence of other coverage (for example, employer-sponsored retiree drug coverage, Union-sponsored Retiree drug coverage, Veteran’s Administration, etc.), Medicare Beneficiary would be responsible for all outpatient Prescription Drug Costs.
Cost Sharing would depend on the Medicare Supplement plan you choose. There are 11 plans to choose from: A, B, C, D, F, G, K, L, M, N and High Deductible F. Premiums for each plan will vary based on the insurance company you choose.