Medicare Supplement Plan F is a popular comprehensive Medicare Supplement Insurance Plan. This plan covers the Medicare Part A and Part B deductibles, as well as the 20% coinsurance original Medicare does not pay. Medicare recipients who want the most coverage purchase Medicare Supplement Plan F because it offers the most comprehensive coverage. Keep in mind this supplemental insurance plan is standardized by the Center for Medicare Services, which means all insurance companies who offer supplemental insurance must offer the same exact benefits.
medicare
As part of our dedication to provide insurance options for every stage of life, NIBC offers coverage options for those 65 and older. Trust NIBC to review your current benefits and help you select a plan to get the most coverage for your needs. Learn more about our insurance options for senior citizens below.
Medicare Advantage
Medicare supplement
prescription drug plans
other plans
Medicare Advantage
Medicare supplement
prescription drug plans
other plans
medicare Advantage
Medicare Advantage Plans, also known as Medicare Part C plans, are health insurance places that are approved by Medicare and run by private insurance agencies. Medicare Advantage plans are required to provide all the same benefits as Medicare Part A and Part B and may include prescription drug coverage. These plans add additional coverage, including vision, dental, medical transportation, health club memberships, and hearing aid coverage. There are many different types of Medicare Advantage plans. We can help you select the best plan for your needs.
medicare advantage plans
PREFERRED PROVIDER ORGANIZATIONS (PPO)
PPOs allow you to receive healthcare from any doctor or healthcare provider in the PPO’s network. You can also go to other providers that aren’t in your network, but it generally costs more. You are able to see a specialist without a referral.
Health Maintenance Organizations (HMO)
HMOs require you to receive care for doctors and other providers in your plan’s network, excluding emergency care. You select an in-network provider, and they coordinate your care and give you a referral to another in-network specialist if needed. In some plans, you may be able to see out-of-network providers for certain services, but the cost is much higher.
Private Fee-for-Service (PFFS)
With a PFFS plan that has a network, you can see any of the in-network providers who agree to treat you. You can also choose from out-of-network providers that accept the plan’s terms, but it may cost more. If your PFFS plan doesn’t have a network, you can go to a Medicare-approved provider or other provider who accepts the plans payment terms and agrees to treat you. In case of an emergency, doctors and hospitals are required to treat you.
Medicare Special Needs Plan (SNP)
SNP plans generally require you to get care from providers and hospitals in the SNP’s network. They typically have specialists that treat conditions that affect their members. In case of an emergency, doctors and hospitals are required to treat you.
What you should know
5
Medicare Advantage plans can provide additional benefits including hearing aids, vision, dental, and medical transportation.
1
You must have Medicare Part A and Part B to enroll in a Medicare Advantage plan.
2
You still have Medicare if you enroll in a Medicare Advantage plan, and you must still pay your monthly Part A and Part B premium, if you have one. Each Medicare Advantage plan must provide all Part A and Part B services, but it can do so with different rules, costs, and restrictions than original Medicare plans.
3
Medicare Advantage plans generally charge a premium in addition to the Part B premium. Most also charge a copayment that you are required to pay at the time of service. Some plans also charge a coinsurance for some or all services.
4
All Medicare Advantage plans must include a limit on your out-of-pocket expenses for Part A and Part B Services, which can be costly. These plans can’t include copays or coinsurances that are higher than they would be normally under original Medicare for certain services, but other services may be higher.
5
Medicare Advantage plans can provide additional benefits including hearing aids, vision, dental, and medical transportation.
1
You must have Medicare Part A and Part B to enroll in a Medicare Advantage plan.
medicare Supplement Insurance
Both Medicare Part A and B may not cover all the expenses you need when seeking medical care. Medicare Supplement insurance, also known as Medigap, covers some of these otherwise uncovered expenses. Medigap insurance helps to fill the “gap” left by Medicare. Medicare supplement isn’t designed to replace Medicare, but it supplements Medicare by covering copayments, deductibles, coinsurance, and more. These plans are standardized by the same agency that oversees Medicare but are sold by private insurance companies.
What you should know
5
Medigap policies don’t cover prescription drugs. You will need prescription drug coverage, you can join Medicare Prescription Drug Plan (Part D).
1
Medigap policies typically don’t cover long-term care, vision, dental, hearing aids, eyeglasses, or private nursing.
2
You must have Medicare Part A and Part B. If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but ensure you have a valid disenrollment from the Medicare Advantage Plan before your Medigap policy begins.
3
You pay your private insurance company for the Medigap policy in addition to what you pay Medicare for your monthly premium.
4
Medigap only covers one individual. You and your spouse will have to purchase separate Medigap policies.
5
Medigap policies don’t cover prescription drugs. You will need prescription drug coverage, you can join Medicare Prescription Drug Plan (Part D).
1
Medigap policies typically don’t cover long-term care, vision, dental, hearing aids, eyeglasses, or private nursing.
Medicare Part D Prescription Drug Plans
Medicare Part D adds prescription drug coverage to Medicare or Medicare Advantage plans. Prescription drug plans are offered by private insurance companies that are approved by Medicare. Each plan can vary in cost and drugs covered. NIBC can help you navigate these drug coverage plans and decide which one is best for you.
How to get medicare drug coverage
You must have Medicare Part A and/or Part B to join a separate Medicare drug plan. Some Medicare Advantage plans offer drug coverage. To enroll for Medicare Plan D, you can enroll during your Initial Enrollment Period. Your IEP for Part D is usually the same as Part B – the seven month period that includes the three months before the month you’re eligible, the one month you become eligible when you turn 65, and the three months after you become eligible. If you don’t join a Medicare drug plan during your IEP, you will have to wait until the Fall enrollment period from October 15 through December 7.
The 4 types of medicare part D
Annual Deductible
You will pay the full cost of your prescriptions until they add up to meet your plan’s deductible. Some plans have a $0 deductible.
Initial Coverage
This begins once you meet your deductible for the year. Your plan will pay for a portion of the prescription drug as long as it is covered by your plan’s formulary, or list of covered drugs. You are responsible for paying the other portion, which is either a set dollar amount, or copayment, or percentage of the cost, or coinsurance. This ends once you and your plan spend on covered drugs adds up to the initial coverage limit set by Medicare. Your monthly premiums do not count toward this limit.
Coverage Gap ("Donut Hole")
This begins once you and your plan reach your initial coverage limit for the year. Not everyone reaches this stage. If you do enter this stage, you will pay 25% of the plan’s cost for brand name drugs and 25% of the cost for generic drugs until your out of pocket costs on drugs reaches $7,400.
Catastrophic Coverage
After spending $7,400 out of pocket on drugs, you receive catastrophic coverage. You will pay a low coinsurance or copayment amount that is set by Medicare for all of your covered prescription drugs. The plan and the government will pay for about 95% of the cost. This stage lasts until the end of the plan year.
How to get medicare drug coverage
You must have Medicare Part A and/or Part B to join a separate Medicare drug plan. Some Medicare Advantage plans offer drug coverage. To enroll for Medicare Plan D, you can enroll during your Initial Enrollment Period. Your IEP for Part D is usually the same as Part B – the seven month period that includes the three months before the month you’re eligible, the one month you become eligible when you turn 65, and the three months after you become eligible. If you don’t join a Medicare drug plan during your IEP, you will have to wait until the Fall enrollment period from October 15 through December 7.
The 4 types of medicare part D
Annual Deductible
You will pay the full cost of your prescriptions until they add up to meet your plan’s deductible. Some plans have a $0 deductible.
Initial Coverage
This begins once you meet your deductible for the year. Your plan will pay for a portion of the prescription drug as long as it is covered by your plan’s formulary, or list of covered drugs. You are responsible for paying the other portion, which is either a set dollar amount, or copayment, or percentage of the cost, or coinsurance. This ends once you and your plan spend on covered drugs adds up to the initial coverage limit set by Medicare. Your monthly premiums do not count toward this limit.
Coverage Gap ("Donut Hole")
This begins once you and your plan reach your initial coverage limit for the year. Not everyone reaches this stage. If you do enter this stage, you will pay 25% of the plan’s cost for brand name drugs and 25% of the cost for generic drugs until your out of pocket costs on drugs reaches $7,400.
Catastrophic Coverage
After spending $7,400 out of pocket on drugs, you receive catastrophic coverage. You will pay a low coinsurance or copayment amount that is set by Medicare for all of your covered prescription drugs. The plan and the government will pay for about 95% of the cost. This stage lasts until the end of the plan year.
Insurance for Every Need
NIBC offers insurance for every stage of your life with numerous plans and coverage options tailored to your unique situation. From vision and dental insurance to life and critical insurance, NIBC is with you providing the peace of mind you need through affordable insurance plans. Explore the other types of insurance options we offer below.
Types of Coverage
Vision & Dental
Vision and dental plans are sold by private insurance agencies, so coverage can vary. If you are on Medicare, a stand-alone plan may be a great fit for you!
Life Insurance
Having the right life insurance policy is imperative in planning for the future of your loved ones. There are life insurance options available for those 65 and older. While the cost of life insurance can increase with age, many insurance companies offer plans that will accommodate adults of all ages, including term life insurance, whole life insurance, and universal life insurance.
Cancer & Critical Illness
Cancer insurance offers lifestyle protection and a helping hand in the unfortunate circumstance that you receive a cancer diagnosis. This supplemental insurance coverage has several benefit levels to fit almost any budget. Additionally, you can offer your clients or employees lump-sum benefits for today’s most common critical illnesses, including cancer, heart attack, stroke, and kidney failure. At NIBC, we offer two products, allowing you or your employees to choose the coverage they need.
Travel Insurance
GeoBlue Travel Medical & International Health Insurance provides peace of mind to global travelers and expats living abroad. If you’re traveling abroad for work, school, or vacation, be sure you have the coverage you need.
Hospital Indemnity
Short Term Home Health
Benefits & Things to Consider
Vision Benefits Can Include:
- Eye exams
- Corrective lenses
- Frames
- Contact Lenses
Dental Benefits Can Include:
- Preventative care
- Diagnostic care including exams and x-rays
- Restorative procedures including fillings, crowns, amalgam, and more
- Adjunctive care including pain treatment, local anesthesia, and nitrous oxide
- Oral surgery
- Prosthodontics, including dentures and denture repairs
- Periodontics and gum care
Do You Need Life Insurance in Your 60's and Up?
There are many reasons to keep or purchase life insurance in your 60’s. If you’re still working and you and your spouse depend on your income, if you have a high net worth, plan to live off of your cash value, or if others depend on you financially – it’s a good idea to hold on to your life insurance policy. As you reach your 70’s, you may find yourself free of financial worries and paid off all debts. If this is the case, you could probably do without life insurance. It can be tricky to decide if life insurance as a senior citizen is right for you – that’s why you need a trusted insurance agent. NIBC can help you navigate your life insurance questions and decide what is the best fit for you!
Cancer Insurance Key Benefits and Optional Riders:
- All benefits paid directly to the policy holder
- Express payment up to $10,000
- Health advocacy
- Wellness
- Daily hospital confinement
- Surgery and anesthesia
- Radiation and chemotherapy
- Transportation and family lodging
Optional Riders (Available at an additional cost)
- Hospital Intensive Care Rider – This rider offers coverage to provide for your ICU needs and more.
- Return of Premium or Cash Value Rider – This rider includes a premium-back feature that returns premiums after a specified period of time.
Key Benefits of Critical Illness Insurance:
- Available on a group or individual basis
- Benefit amounts up to $75,000
- Three plan choices
- First diagnosis and recurrence benefits
- Wellness benefits
- Coverage for the entire family
- Portability
- Return of premium or cash value rider
Benefits and What You Should Know About Travel Insurance:
GeoBlue products are exclusively underwritten in the U.S. as filed and admitted insurance. GeoBlue plans offer unique benefits and services not available elsewhere. Each GeoBlue policy includes access to “best of class” doctors and hospitals in 190 countries. Members have the ability to review the provider’s medical background and biography. With the click of a button, medical appointments can be scheduled and billed directly to GeoBlue or via a mobile device. Members can also find out about the clinical services available or security landscape in a particular destination. These tools empower travelers to stay safe and healthy by avoiding potential hazards, and by locating quality healthcare, worldwide.
Benefits of GeoBlue:
- 24/7 phone and telemedicine support
- Access to a trusted network of doctors and hospitals
- Cashless appointments
- Help scheduling appointments
- Paperless claims resolution
- Destination health intelligence
Types of Coverage
Vision & Dental
Vision and dental plans are sold by private insurance agencies, so coverage can vary. If you are on Medicare, a stand-alone plan may be a great fit for you!
Life Insurance
Having the right life insurance policy is imperative in planning for the future of your loved ones. There are life insurance options available for those 65 and older. While the cost of life insurance can increase with age, many insurance companies offer plans that will accommodate adults of all ages, including term life insurance, whole life insurance, and universal life insurance.
Cancer & Critical Illness
Cancer insurance offers lifestyle protection and a helping hand in the unfortunate circumstance that you receive a cancer diagnosis. This supplemental insurance coverage has several benefit levels to fit almost any budget. Additionally, you can offer your clients or employees lump-sum benefits for today’s most common critical illnesses, including cancer, heart attack, stroke, and kidney failure. At NIBC, we offer two products, allowing you or your employees to choose the coverage they need.
Travel Insurance
GeoBlue Travel Medical & International Health Insurance provides peace of mind to global travelers and expats living abroad. If you’re traveling abroad for work, school, or vacation, be sure you have the coverage you need.
Hospital Indemnity
Short Term Home Health
Benefits & Things to Consider
Vision Benefits Can Include:
- Eye exams
- Corrective lenses
- Frames
- Contact Lenses
Dental Benefits Can Include:
- Preventative care
- Diagnostic care including exams and x-rays
- Restorative procedures including fillings, crowns, amalgam, and more
- Adjunctive care including pain treatment, local anesthesia, and nitrous oxide
- Oral surgery
- Prosthodontics, including dentures and denture repairs
- Periodontics and gum care
Do You Need Life Insurance in Your 60's and Up?
There are many reasons to keep or purchase life insurance in your 60’s. If you’re still working and you and your spouse depend on your income, if you have a high net worth, plan to live off of your cash value, or if others depend on you financially – it’s a good idea to hold on to your life insurance policy. As you reach your 70’s, you may find yourself free of financial worries and paid off all debts. If this is the case, you could probably do without life insurance. It can be tricky to decide if life insurance as a senior citizen is right for you – that’s why you need a trusted insurance agent. NIBC can help you navigate your life insurance questions and decide what is the best fit for you!
Cancer Insurance Key Benefits and Optional Riders:
- All benefits paid directly to the policy holder
- Express payment up to $10,000
- Health advocacy
- Wellness
- Daily hospital confinement
- Surgery and anesthesia
- Radiation and chemotherapy
- Transportation and family lodging
Optional Riders (Available at an additional cost)
- Hospital Intensive Care Rider – This rider offers coverage to provide for your ICU needs and more.
- Return of Premium or Cash Value Rider – This rider includes a premium-back feature that returns premiums after a specified period of time.
Key Benefits of Critical Illness Insurance:
- Available on a group or individual basis
- Benefit amounts up to $75,000
- Three plan choices
- First diagnosis and recurrence benefits
- Wellness benefits
- Coverage for the entire family
- Portability
- Return of premium or cash value rider
Benefits and What You Should Know About Travel Insurance:
GeoBlue products are exclusively underwritten in the U.S. as filed and admitted insurance. GeoBlue plans offer unique benefits and services not available elsewhere. Each GeoBlue policy includes access to “best of class” doctors and hospitals in 190 countries. Members have the ability to review the provider’s medical background and biography. With the click of a button, medical appointments can be scheduled and billed directly to GeoBlue or via a mobile device. Members can also find out about the clinical services available or security landscape in a particular destination. These tools empower travelers to stay safe and healthy by avoiding potential hazards, and by locating quality healthcare, worldwide.
Benefits of GeoBlue:
- 24/7 phone and telemedicine support
- Access to a trusted network of doctors and hospitals
- Cashless appointments
- Help scheduling appointments
- Paperless claims resolution
- Destination health intelligence
Types of Coverage
Vision & Dental
Vision and dental plans are sold by private insurance agencies, so coverage can vary. If you are on Medicare, a stand-alone plan may be a great fit for you!
Life Insurance
Having the right life insurance policy is imperative in planning for the future of your loved ones. There are life insurance options available for those 65 and older. While the cost of life insurance can increase with age, many insurance companies offer plans that will accommodate adults of all ages, including term life insurance, whole life insurance, and universal life insurance.
Cancer & Critical Illness
Cancer insurance offers lifestyle protection and a helping hand in the unfortunate circumstance that you receive a cancer diagnosis. This supplemental insurance coverage has several benefit levels to fit almost any budget. Additionally, you can offer your clients or employees lump-sum benefits for today’s most common critical illnesses, including cancer, heart attack, stroke, and kidney failure. At NIBC, we offer two products, allowing you or your employees to choose the coverage they need.
Travel Insurance
GeoBlue Travel Medical & International Health Insurance provides peace of mind to global travelers and expats living abroad. If you’re traveling abroad for work, school, or vacation, be sure you have the coverage you need.
Hospital Indemnity
Short Term Home Health
Benefits & Things to Consider
Vision Benefits Can Include:
- Eye exams
- Corrective lenses
- Frames
- Contact Lenses
Dental Benefits Can Include:
- Preventative care
- Diagnostic care including exams and x-rays
- Restorative procedures including fillings, crowns, amalgam, and more
- Adjunctive care including pain treatment, local anesthesia, and nitrous oxide
- Oral surgery
- Prosthodontics, including dentures and denture repairs
- Periodontics and gum care
Do You Need Life Insurance in Your 60's and Up?
There are many reasons to keep or purchase life insurance in your 60’s. If you’re still working and you and your spouse depend on your income, if you have a high net worth, plan to live off of your cash value, or if others depend on you financially – it’s a good idea to hold on to your life insurance policy. As you reach your 70’s, you may find yourself free of financial worries and paid off all debts. If this is the case, you could probably do without life insurance. It can be tricky to decide if life insurance as a senior citizen is right for you – that’s why you need a trusted insurance agent. NIBC can help you navigate your life insurance questions and decide what is the best fit for you!
Cancer Insurance Key Benefits and Optional Riders:
- All benefits paid directly to the policy holder
- Express payment up to $10,000
- Health advocacy
- Wellness
- Daily hospital confinement
- Surgery and anesthesia
- Radiation and chemotherapy
- Transportation and family lodging
Optional Riders (Available at an additional cost)
- Hospital Intensive Care Rider – This rider offers coverage to provide for your ICU needs and more.
- Return of Premium or Cash Value Rider – This rider includes a premium-back feature that returns premiums after a specified period of time.
Key Benefits of Critical Illness Insurance:
- Available on a group or individual basis
- Benefit amounts up to $75,000
- Three plan choices
- First diagnosis and recurrence benefits
- Wellness benefits
- Coverage for the entire family
- Portability
- Return of premium or cash value rider
Benefits and What You Should Know About Travel Insurance:
GeoBlue products are exclusively underwritten in the U.S. as filed and admitted insurance. GeoBlue plans offer unique benefits and services not available elsewhere. Each GeoBlue policy includes access to “best of class” doctors and hospitals in 190 countries. Members have the ability to review the provider’s medical background and biography. With the click of a button, medical appointments can be scheduled and billed directly to GeoBlue or via a mobile device. Members can also find out about the clinical services available or security landscape in a particular destination. These tools empower travelers to stay safe and healthy by avoiding potential hazards, and by locating quality healthcare, worldwide.
Benefits of GeoBlue:
- 24/7 phone and telemedicine support
- Access to a trusted network of doctors and hospitals
- Cashless appointments
- Help scheduling appointments
- Paperless claims resolution
- Destination health intelligence