DEFINITION of 'Nonrenewable Resource'. A resource of economic value that cannot be readily replaced by natural means on a level equal to its consumption. Most fossil fuels, such as oil, natural gas and coal are considered nonrenewable resources in that their use is not sustainable because their formation takes billions of years.
Election-Enrollment in, or voluntary disenrollment from, an MMP, an MA plan or the traditional Medicare fee-for-service program (âOriginal Medicareâ) constitutes an election (disenrollment from Original Medicare would occur only when an individual enrolls in an MMP or MA plan).
Each modernized Medigap policy must offer the same basic benefits, no matter which insurance company sells it. For example, Plan F offers the same benefits with all insurance companies, and Plan C offers the same benefits with all insurance companies. Cost is usually the only difference between Medigap policies sold by different insurance companies. Plan F is the most popular Medicare supplement insurance plan.