Here is a quick look at how these plans compare in terms of coverage. Please read your plan regulations to determine how individual charges are calculated and any limits that may apply.
Compare LRFA Medicare Supplemental Plan annual costs with Medigap providers:
Costs are based on data from 2014. LRFA rates are the same for all 50 states. For other companies, your plan rates vary by state and other factors.
Medicare alone does not offer complete health insurance protection. For this reason most people seek additional health care coverage, which pays some of the amounts that Medicare does not pay for covered services and may pay for certain services not covered by Medicare. This type of private insurance is known as Medigap and is regulated by federal and state law, which mandates that all plans follow the same 10 standardized plans. This makes it easier for consumers to comparison shop.
Although not an insurance company, LRFA offers similar benefits to its members with Medicare coverage. Our plans remain unique in that we offer our members each plan separately, thus allowing you to choose the coverage that best suits your needs. LRFA Plan M-1 can be compared to the standardized Medigap Plan C. Participation in our plan M-4, provides members with the coverage known as Plan J, which includes prescription drug coverage and is no longer available under Medigap.
Plan M-2, alone, fully covers medical expense amounts that Medicare does not deem "reasonable", but which you, the patient, are responsible for. By participating simultaneously in both the M-1 and M-2 plans an LRFA member can ensure 100% coverage of medical expenses approved but not paid by Medicare. Plan M-3 is an independent prescription drug coverage plan offered to our members.
LRFA makes every effort to set its member rates lower than those of major Medigap providers. Monthly payments are uniform, regardless of a participant's age or state of residence. Choice of health care providers is left entirely up to our member. When shopping for a Medigap plan, service and reliability are also important factors to consider. LRFA takes pride in giving our members the best service possible. Our Medicare Supplemental department has been working to serve our members' since 1966.