Medico Medicare supplement plan options help people manage out-of-pocket healthcare expenses by paying for some of the costs that Original Medicare doesn’t cover, like copayments, coinsurance and deductibles. There are many different plans available to choose from, and each has its own cost-sharing and coverage details. The right plan for you is the one that meets your healthcare and budget needs.
Founded in 1930, Medico Insurance Company (A Wellabe Company) offers supplemental Medicare coverage through a variety of products. The company is headquartered in Omaha, Nebraska and employs hardworking Americans. In addition to Medicare Supplement plans, Medico offers an array of short-term care insurance policies and long-term care coverage.
Medicare Supplement plans are offered through Medico in 25 states. Each state has its own version of the plans, and some offer more than others. Medico’s most popular Medicare Supplement plans are Plan F, G and N. Each has its own set of benefits, so you should review each plan to make sure it meets your specific needs and budget.
The most basic Medicare Supplement plan is Plan A, which covers hospital and nursing home costs, the first three pints of blood and Medicare Part B deductible. However, this plan does not cover the Medicare Part A deductible or copayments. Plan B is very similar to Plan A, except it covers the Medicare Part A deductible and some copayments and coinsurance. Plan F is a comprehensive plan that helps with the majority of out-of-pocket costs, including copayments, coinsurance and deductibles. It is only available to those who became eligible for Medicare before January 1, 2020.
In addition to the above plans, Medico also offers a high-deductible version of Plan F. This plan has a higher monthly premium, but it still provides comprehensive coverage. This is a great option for those who need a more affordable Medicare Supplement plan that can still pay for the majority of their out-of-pocket healthcare expenses.
Medico final expense insurance policies can be purchased for a lump sum of cash that pays off debts and other expenses upon death. These policies do not require a medical exam and can be bought during the open enrollment period or guaranteed issue period.
In addition to final expense insurance, Medico also offers a graded benefit final expense whole life policy that accrues cash value and can be purchased without an application or medical exam. This plan can be used to cover funeral expenses, debts and estate taxes. Medico also offers an AARP long-term care policy that includes both medical and non-medical services. This policy can reimburse you for help with everyday tasks such as cooking, cleaning and bathing, and may include an inflation protection rider and survivorship benefits.