What is a Medicare Summary of Benefits?

By RetireMEDiQ

Your Plan’s Summary of Benefits

Stand-alone Prescription Drug plans and Medicare Advantage plans outline their basic benefits in a booklet called the Summary of Benefits (SOB). This document presents an overview of the services your plan will cover. When you first enroll in a stand-alone Prescription Drug plan or Medicare Advantage plan, Medicare requires that you receive a copy of the SOB for that plan.

Examples of What You Can Find in an SOB

  • Monthly premium amount
  • Out-of-pocket maximum (learn more)
  • Doctor copays
  • Inpatient hospital costs
  • General costs of outpatient tests and procedures
  • Costs of diabetic supplies
  • Medication copays and more!

How to Access Your SOB

Insurance companies usually have a SOB and other plan documents available on their websites and give customers the ability to create an online account. If you set up your personal online account, you will have access to these documents and other useful resources, such as your online claims history and payment of your monthly premiums.

We Would Love to Hear from You!

We are happy to answer any plan questions you might have! And if you’d prefer a hard copy of your SOB, we can arrange to have one mailed to you. You can reach us directly at 1-877-222-1942 or client@retiremediq.com.

If you are not a RetireMEDiQ client yet and have questions about how we can help you, please contact us at 1-866-600-5638 or advice@retiremediq.com to get started on your Medicare journey.

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