Morris County Chamber of Commerce
  • About
    • Chamber Team
    • Our Mission
    • The President's Desk
    • Morris Business Cabinet
    • Board of Directors
    • What Members Are Saying >
      • Share a Testimonial
    • Frequently Asked Questions
    • Forums & Committees >
      • Committee Chair and Vice Chair Application
      • Ambassadors Council >
        • Ambassadors-Only Resources
      • Business Development Forum
      • Business Strategy & Tactics Forum
      • Environmental & Sustainability Forum
      • Government Affairs
      • Health & Wellness Forum
      • Hispanic Affairs Council
      • Human Resources Committee
      • Not For Profit Roundtable >
        • 2020 NFP Excellence Award Honorees
        • Nonprofit Donations
      • Real Estate Forum
      • Tech Talk Forum
      • Women in Business Program
      • Young Professionals Forum
    • Staff Forms - Internal Use Only
  • Why Join?
    • Join Our Chamber
    • Retail Restaurant Membership
    • Member Benefits
    • The Value of Membership >
      • Grow Your Business
      • Build Your Brand
      • Professional Development & Education
      • Government Advocacy
      • Community Outreach & Volunteering
    • Grand Opening Support
    • Member Marketing Opportunities
    • Enhance Your Directory Listing
    • Member to Member Deals
    • Member Referral Bonus
    • Connect to Morris Job Bank
    • Co-Working Space Available
  • Events
    • Chamber Event Calendar
    • Member Events Calendar
    • Signature Events & Programs
    • 2021 NFP Nominations
  • Find A Member
    • Searchable Business Directory
    • Nonprofit Organizations
    • Professional Services >
      • Accounting, Auditing and Related Services
      • Advertising, Marketing and Related Services
      • Aerospace & Defense
      • Attorneys and Legal Services
      • Architectural, Engineering and Surveying Services
      • Banking and Financial Services
      • Business Consulting and Professional Services
    • Retail, Restaurants, & Service Providers >
      • Arts & Entertainment
      • Auto / Trucks
      • Catering & Food Products
      • Child Care & Day Care
      • Cleaning Services
      • Contractors
      • Decorating & Organizing Services
      • Environmental Services & Recycling
      • Event Planning
      • Farm & Agriculture
      • Fitness & Wellness
      • Health Care
      • Home & Garden
      • Hotels & Conference Centers
      • Moving & Storage
      • Personal Development & Coaching
      • Pet Care
      • Photography & Video Services
      • Restaurants & Bars
      • Retail Stores
      • Senior Care & Related Services
      • Shipping & Delivery
      • Travel & Leisure
    • Higher Education Partners
  • News & Info
    • Chamber Magazines
    • Coronavirus News
    • Business Resources
    • News Around the Chamber >
      • Submit a Press Release
      • Submit a Neighbors Helping Neighbors Story
    • MCCC Blog >
      • Contribute to Our Blog
    • Chamber Newsletters
    • Social Media
  • Programs
    • Economic Development Corp.
    • Executive Council Program
    • Women in Business Executive Round Table
    • Morris Chamber Toastmasters
    • Mentor Morris
    • Entrepreneur Roundtable
    • Morris Mastermind
    • Leadership Morris >
      • Leadership Morris FAQs
      • Leadership Morris Application
      • Leadership Morris Program
      • Leadership Morris Alumni Council
    • Work-Based Learning Internship Program
  • MCTV
    • MCTV Let's Talk
    • Video Library
    • Member Spotlights
  • Member Login

MCCC Blog

Click Here to submit an article for our blog. 
Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.

Medicare 101: Supplement and Advantage Plans

12/2/2020

 
Picture
by Staff, Porzio Bromberg & Newman, P.C.
Medicare Supplement Plans or Medigap Insurance are designed to cover care not covered by Medicare Parts A and B like co-pays and deductibles, vision care, hearing aids, fitness programs and other benefits. When you have a Medicare Supplement Plan or Medigap Insurance, Medicare Parts A and B are your primary insurance and the Supplement Plan pays some or all of the expenses that Parts A and B do not pay. What kind of Supplement Plans are available?
The Supplement Plans available to you really depends on where you live and what is offered by the insurance companies serving your area. You should contact insurance carriers serving your state to see what they offer. Your needs and the coverage offered changes year to year so you should plan to re-evaluate your Medi-gap Insurance each year during the open enrollment period (October – December annually).

Medicare Advantage Plans, as I discussed in a previous post (Medicare 101: What Medicare is and Who is Eligible), are designed to roll Medicare Parts A and B together into a managed care plan, usually including a prescription drug benefit. Advantages and Disadvantages of Supplement and Advantage Plans. Whether you decide to buy a Supplement Plan or Medicare Advantage Plan will probably hinge mostly on the cost.

Medicare Advantage Plans are significantly less expensive than Medicare Supplement Plans. But Advantage Plans are more limiting in terms of benefits, also. With a Medicare Supplement Plan or Medigap Insurance, one of the big advantages is that you can see any doctor that takes Medicare anywhere in the United States. That’s not every doctor, but it’s the majority of doctors and so, that’s a big plus. Also, no referrals are necessary when you’re working with a Medicare Supplement Plan. You choose which doctor or specialist to go to and when. But when you buy a Supplement Plan Medigap Insurance, it will generally have a higher premium than a Medicare Advantage Plan. Also, generally speaking, a Medicare Supplement Plan Medigap Insurance will not have a co-pay or deductible where Medicare Advantage Plans typically do.

​Can you get a Medicare Supplement Plan or Medigap Insurance that covers medical care outside the United States? Yes, if you are enrolled in Medicare and want medical coverage for care administered outside the United States. Many such Supplement Plans have a lifetime coverage limit which is generally 80% of the first $50,000 of care outside the U.S. It may be possible to get coverage beyond that. You should contact insurance carriers in your area for specifics.

​This post is for general informational purposes only. The specifics of your situation could affect your eligibility for Medicare and the specific benefits you receive. For a video presentation of this information, please visit Medicare 101: Maximizing Your or Your Loved One’s Health Care in Retirement. For more detailed information, please visit porzioplanning.com or contact us for a complimentary 20 minute telephone consultation.

Comments are closed.

    Archives

    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    March 2020
    February 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019

    Categories

    All
    Around The Chamber
    Business Advice
    Business Development
    Business Edge Magazine
    Chamber News
    Coaching
    Entrepreneurs
    Events
    Finance
    Government Affairs
    Health & Wellness
    IT
    Leadership Morris
    Legal
    Manufacturing
    Marketing
    Message From The President
    Nonprofit
    Real Estate
    Sales Strategy
    Seniors
    Strategic Planning
    Women In Business

    RSS Feed

    Please Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.

JOIN Us
REGISTER for Events
FIND a Business
CONTACT Us
READ our Blog

973.539.3882
​Morris County Chamber of Commerce
325 Columbia Turnpike - Suite 101
​​Florham Park, NJ 07932               (MAP)
Copyright 2021 | All Rights Reserved
Our Mission: The Morris County Chamber of Commerce collaboratively advances the interests of its members to champion a thriving business and community environment.
Our Vision: Creating member experiences that foster exceptional business success and quality of life.
Picture
  • About
    • Chamber Team
    • Our Mission
    • The President's Desk
    • Morris Business Cabinet
    • Board of Directors
    • What Members Are Saying >
      • Share a Testimonial
    • Frequently Asked Questions
    • Forums & Committees >
      • Committee Chair and Vice Chair Application
      • Ambassadors Council >
        • Ambassadors-Only Resources
      • Business Development Forum
      • Business Strategy & Tactics Forum
      • Environmental & Sustainability Forum
      • Government Affairs
      • Health & Wellness Forum
      • Hispanic Affairs Council
      • Human Resources Committee
      • Not For Profit Roundtable >
        • 2020 NFP Excellence Award Honorees
        • Nonprofit Donations
      • Real Estate Forum
      • Tech Talk Forum
      • Women in Business Program
      • Young Professionals Forum
    • Staff Forms - Internal Use Only
  • Why Join?
    • Join Our Chamber
    • Retail Restaurant Membership
    • Member Benefits
    • The Value of Membership >
      • Grow Your Business
      • Build Your Brand
      • Professional Development & Education
      • Government Advocacy
      • Community Outreach & Volunteering
    • Grand Opening Support
    • Member Marketing Opportunities
    • Enhance Your Directory Listing
    • Member to Member Deals
    • Member Referral Bonus
    • Connect to Morris Job Bank
    • Co-Working Space Available
  • Events
    • Chamber Event Calendar
    • Member Events Calendar
    • Signature Events & Programs
    • 2021 NFP Nominations
  • Find A Member
    • Searchable Business Directory
    • Nonprofit Organizations
    • Professional Services >
      • Accounting, Auditing and Related Services
      • Advertising, Marketing and Related Services
      • Aerospace & Defense
      • Attorneys and Legal Services
      • Architectural, Engineering and Surveying Services
      • Banking and Financial Services
      • Business Consulting and Professional Services
    • Retail, Restaurants, & Service Providers >
      • Arts & Entertainment
      • Auto / Trucks
      • Catering & Food Products
      • Child Care & Day Care
      • Cleaning Services
      • Contractors
      • Decorating & Organizing Services
      • Environmental Services & Recycling
      • Event Planning
      • Farm & Agriculture
      • Fitness & Wellness
      • Health Care
      • Home & Garden
      • Hotels & Conference Centers
      • Moving & Storage
      • Personal Development & Coaching
      • Pet Care
      • Photography & Video Services
      • Restaurants & Bars
      • Retail Stores
      • Senior Care & Related Services
      • Shipping & Delivery
      • Travel & Leisure
    • Higher Education Partners
  • News & Info
    • Chamber Magazines
    • Coronavirus News
    • Business Resources
    • News Around the Chamber >
      • Submit a Press Release
      • Submit a Neighbors Helping Neighbors Story
    • MCCC Blog >
      • Contribute to Our Blog
    • Chamber Newsletters
    • Social Media
  • Programs
    • Economic Development Corp.
    • Executive Council Program
    • Women in Business Executive Round Table
    • Morris Chamber Toastmasters
    • Mentor Morris
    • Entrepreneur Roundtable
    • Morris Mastermind
    • Leadership Morris >
      • Leadership Morris FAQs
      • Leadership Morris Application
      • Leadership Morris Program
      • Leadership Morris Alumni Council
    • Work-Based Learning Internship Program
  • MCTV
    • MCTV Let's Talk
    • Video Library
    • Member Spotlights
  • Member Login