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What you should know about Medicare supplements

Welcome back everybody. This is Matt at goldhealthadvisors.com. Today we are going to discuss Medicare supplements, what they cover, and what you need to know about them. First, you need to know the logistics of Part B from original Medicare. Part B will cover your medical needs from your doctor up to 80%. The supplement will then cover the remaining 20%. What does that mean? You go visit a doctor, maybe the doctor charges you a hundred dollars. Medicare Part B will cover the first 80% of that. Your supplement will then cover the remaining 20% piece. There are many supplement plans to choose from. They all have a monthly premium. You need to know which one to pick. How do you pick? That is where I step in. There was one more little piece of information I think is important that you should know in the Medicare supplement space. Medicare supplements have three names. Medicare supplements as I call them are also called Medigap policies or Gap policies. I share that with you because we all have a neighbor down the street that says, “Hey, did he talk to you about that?” If I did not share that with you, you may be really confused. I want you to know that Medicare supplements, Medigap policies and Gap policies ar the same thing. Just like saying hamburger, chop steak or ground beef. I just want to make sure that is clear. If you have any more questions, reach out to me at goldhealthadvisors.com.