Tag Archives: Choosing a Medigap Policy

Medigap in Michigan

Medigap, also referred to as Medicare supplement insurance or Medicare supplemental insurance, refers to the various private health insurance plans that supplement Medicare in the United States. Supplemental Medicare policies are designed to share in the costs not covered by Original Medicare Part A and Part B, including deductibles and coinsurance amounts.

There are similarities in coverage especially when it comes to the Medicare-covered hospital, home health and skilled nursing care, ambulance, durable medical equipment, and doctor charges. But Medigap was essentially envisioned to cover those areas where there are “gaps” in Medicare coverage. According to statistics, approximately 20% of Medicare recipients have Medigap.

Medicare Supplement Policies

Medicare supplement policies are often referred to as “Medigap” policies. Michigan residents who are not covered by employer-based insurance or any retiree health package but can afford to pay premiums can get Medigap.

One insurer participating in Medigap In Michigan is Blue Cross Blue Shield of Michigan.  Blue Cross Blue Shield of Michigan has been a fixture in the Michigan insurance landscape for decades. Today, the company has participated in the Legacy Medigap plans which have been subsidized. For the past 5 years, insurance rates have been more or less frozen or price below market value. It is helpful to note however that as of January 1, 2017, new rates took effect.

Subsidizing Medigap

It is important to note that in the State of Michigan, The Michigan Medigap Subsidy program is administered by the Michigan Health Endowment Fund. It is tasked with helping to defray the costs of providing Medigap in the state. As of January 1, 2017, applications are screened (for instance, single applicants must not make more than $26,730 a year) and if the applicant is found eligible, the program pays a subsidy directly to their Medigap insurance company. This amount offsets the actual premium thus lowering it.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

What Happens to Your Medigap Coverage When You Move to a New State

Medigap plans have become immensely popular in recent years because of numerous added advantages they offer over Original Medicare, Part A and Part B. Many people, across the US, are opting for this coverage so that they more of their healthcare costs that are generally not included in the coverage of their original Medicare insurance.

A general question that many people have related to their Medigap supplement insurance is that what will happen to it if they are moving to another state. If you are looking for an accurate answer to this question, you have landed at the right place.

In case you have purchased a Medigap plan and are planning to move to another state, there is no requirement to buy a new plan. This is due to the fact that Medigap supplement insurance plans are the same across the US, apart from three unusual states. However, people who have enrolled in Medicare Advantage Plans, they may face certain issues as it comes with some limitations. They can only use health care providers that are located within the network of this plan.

If you have relocated to an area that doesn’t fall within in the network of your Medicare select plan, the sole option you have is to buy a new Medigap supplement insurance plan that offers similar, if not the same, benefits you were obtaining from the Medicare select plan. The added advantage here for you will be that you won’t be required to undergo medical underwriting. This will save you from paying extra charges due to your health condition. In worst case scenarios, the insurance company may refuse to offer you a Medigap plan. However, this advantage can only be obtained if you had purchased Medicare Select plan 6 months prior to relocating to a new state.

In the case where you have a Medigap plan and have moved to a new state, you may have to pay a higher or lower premium after relocation. This depends on the Medigap rates in the states you have moved to. If the rates are more expensive, the premium value you pay monthly will increase and vice versa.

There is also a possibility of finding a Medigap policy in the new state you have moved in that is less expensive as compared to the one that you already one. In such a situation, all you have to do is to submit a new application for getting a new Medigap policy.

As stated above, Medigap plans are standardized in most of the states of the US. However, if you are moving to one of these states: Minnesota, Wisconsin, and Massachusetts, you may have to buy a different Medigap policy as these states have individual standardized plans.

To sum it up, if you want to continue obtaining the added advantages of your Medigap plan, do complete research on the state you are moving to regarding the rates and plans offered there and take the decision accordingly.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

What is the Difference Between Premiums, Deductibles, and Coinsurance?

Everyone needs to pay something for their health insurance, but the amount is different depending on the type of plan that a person has.  Once a person reaches retirement age, they are eligible for Medicare, which may or may not have a charge for premiums but does require everyone to pay a deductible and coinsurance each year.  Medigap supplement insurance plans are a great way to save on the deductible and coinsurance of Medicare, but there is often a premium for them.

If you are unsure of the difference between premiums, deductibles, and coinsurance when it comes to Medicare and Medigap plans, it is fairly easy to figure out.  A premium is the money that you pay for your medical policy.  You may not have to pay a monthly premium for your Medicare insurance, but every Medigap supplement insurance plan has a premium.  The amount of that premium is determined by the plan that you choose.

A deductible is the amount of money that you will need to pay before your insurance will pay out anything.  Your deductible can be quite high with Medicare, but your Medigap plan will allow you to pay less money, as that plan normally covers most of the amount that you would owe.

Once you have fulfilled your deductible, you are almost always required to pay a coinsurance for any other services that you receive.  The coinsurance is normally a percentage of what Medicare or Medigap pays, but it could also be a specified dollar amount.  While a coinsurance is guaranteed with a Medicare plan, you may not need to pay the coinsurance in full if you have a Medigap supplement insurance plan that will cover some of it.

You may not think that it is worthwhile to purchase a Medigap supplement insurance plan when you become eligible for Medicare, because it would be one more premium that you would need to pay every month.  However, you may find that the amount of the premium is negligible compared to the amount of money that you are saving in deductible and coinsurance payments.

The savings might not be significant in the beginning when you are healthy, but one long-term illness or multiple short-term illnesses will allow you to see the savings more clearly.  Don’t lose out on saving money in the future from not understanding the importance of Medigap insurance, because your health could depend on it.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

The Benefits Of Working With A Medigap Broker

You have guaranteed enrollment in a Medigap supplement insurance or Medigap policy if you are 65 years of age, are enrolled in Original Medicare and if any of the plans are offered in the state where you live. Medicare Supplement plans are sold by private insurance carriers to help pay for some of the services that Original Medicare doesn’t cover, such as coinsurance, copayment, deductibles, as well as emergency overseas travel coverage or Part B excess charges.

You can sign up for a Medigap policy either through an insurance company or an independent Medigap broker. Using an independent Medigap broker has significant benefits that most folks may not know or even want to know out of fear that it may cost them more in broker fees. It doesn’t cost to use an independent Medigap broker and consulting one will not change your premiums or the policy benefits.

Additionally, understanding how each plan works and each of their benefits or lack thereof can be extremely confusing, even to the best of us. An independent Medigap supplement insurance broker is able to do all the legwork for you, compare various options from multiple insurance carriers on your behalf, advise you accordingly and save you a considerable amount of time and headache of doing it alone.

A Medigap supplement insurance broker is able to provide you with an unbiased and independent opinion of all Medicare plans, owing to the simple fact that they represent a handful of insurance carriers and they are well-versed on how the workings of the insurance business. They are better equipped to compile and compare all available options and Medigap rates without adding any monetary value to the process until you are satisfied.

You are already indirectly paying for the services of an independent Medigap broker since they are paid by the carriers they represent. Therefore, using their services to the fullest can benefit you and your loved one and save you money while at it. Most importantly, Medigap brokers are compensated on an ongoing basis, consequently, they also offer personalized after sale services that you wouldn’t otherwise get from a large insurance company.

Having an ongoing relationship with an independent Medigap broker will ensure that the services they offer you are unlike no other, and because they do this for a living, a broker will not rest until you’re contented.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

 

When Do I Enroll in Medigap Coverage?

Medigap is an insurance policy that will cover the health care costs that you incur that regular Medicare, Part A and Part B, does not cover.  These costs can include co-payments, deductibles, and travel outside of the United States.  However, Medigap supplement insurance does not cover costs that are associated with dental care, vision, hearing aids, or private duty nursing.

Medigap supplemental insurance is available to anyone that has Medicare Part A and Medicare Part B, and the best time to purchase Medigap is during your open enrollment period.  You are automatically eligible for a Medigap supplement insurance plan the month that you turn sixty-five and your eligibility continues for a period of six months.

That six-month time frame is the best time to purchase Medigap, simply because you can get it from any Medigap supplement plan that is available in your area.  None of them can turn you down for any health issues that you may have, nor can they charge you more if you have certain health problems.  Instead, during this time you are guaranteed to find coverage at a reasonable price.

The only thing that you will need to keep in mind is that a Medigap supplement plan can make you wait six months before they will pay for anything relating to your pre-existing conditions, although some plans will waive that waiting period.  Once that six month waiting period is over, they will pay for your medical expenses, including ones for your pre-existing conditions.

If you decide to wait to apply for Medigap until after your six-month open enrollment period, a Medigap plan has the right to deny you coverage or make you pay a higher rate.

It is unusual to be able to apply for a Medigap supplement insurance plan when you are under the age of sixty-five, but some states will allow you to do so.  However, you will want to be prepared to pay more for the policy or take the chance of being denied for pre-existing conditions.

A disabled person, who has Medicare, can apply for Medigap before they turn sixty-five, but they might not be able to purchase the exact policy that they want and there are no guarantees that they will even be approved.

If you are approaching the age of sixty-five, you will need to be aware of your options when it comes to Medigap supplement insurance plans.  You’ll want to act quickly and purchase your Medigap plan within your six-month open enrollment period, so you do not miss out on the benefits that you will need.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Is Eye Care and Cataract Surgery Covered By A Medigap Plan?

Medigap insurance is sold by private companies to help pay for things like copayments and deductibles that Medicare doesn’t cover. This policies are only available to individuals over the age of 65 who already have Original Medicare Parts A and B. Those with Medicare Advantage, Part C or are younger than 65 and on Medicare due to disability cannot enroll or buy a Medigap policy.

There are eleven standard Medigap policies in the United States each lettered A through G, and K. Insurance carriers can only sell one of the plans, and if you are married and your partner is covered by Medicare, they will need to buy a separate policy to get a Medigap cover. Standard Medigap policies generally cover some or all of the costs of:

  • Your Part A deductible and coinsurance for hospital stays
  • A portion of your Part B doctor’s bills services
  • The first 3 pints of blood annually
  • As we as your hospice care coinsurance

Medigap policies do not cover

  • Long-term care
  • Private duty nursing
  • Prescription drugs or any out-of-pocket costs for Part D
  • It also doesn’t cover dental care, hearing aids, eyeglasses and vision care

Cataract is the clouding of the clear lens of the eye, which makes seeing seem like looking through a fogged-up window. Most cataracts are as a result of aging, injury or an inherited disorder and surgery is important especially when the slow progression of the disease begins to affect an individual’s quality of life. If your doctor determines that cataract surgery is medically necessary and you have Medicare coverage, you may be responsible for certain deductibles, copayments, or coinsurance costs otherwise, Medigap supplement insurance covers the procedure to remove the cataract.

Medigap plans fill in the gaps of Original Medicare and once you pay for your deductible, you will receive coverage from Medigap but will be required to pay any copayments. You can get a rough idea of your estimated cost by first ascertaining that your doctor accepts Medicare assignment. You also need to find out whether you will be inpatient or outpatient for the surgery, and whether you will need prescription drugs afterward. This way you can check the cost of the drugs or determine if you will need to get Medicare Part D. Also check your out-of-pocket limit in case you need to pay for anything past that amount.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

 

Comparing Medigap Plans in Texas

For those who do not know what Medicare it is the federally provided insurance that covers the millions of American seniors who have qualified for and been accepted to receive Social Security payments from the Federal Government. The insurance premiums are paid directly from your Social Security check, so you never really see it. Unfortunately, much like all other insurance plans available across the country, Medicare does not cover everything at 100%.

 

This will leave a gap in the total coverage that each covered senior have and that would leave them responsible for the balance. One of the big reason for this is because the cost of healthcare has gotten way too out of control. Fortunately, there are plans available that are designed to fill the gap beyond what Medicare Part A and Medicare Part B cover.

 

These plans are government approved and are referred to as plan A all the way through plan L. Each one of these Medigap insurance plans are federally regulated in order to attempt to keep them at least somewhat cheaper for the senior.

Medigap Insurance Eligibility

A good rule of thumb to certain if you are eligible for one of the 10 Medigap insurance plans is that if you are at least 65 years of age and signed up for Medicare Part A and Part B. There are also a few requirements that you must meet in order to be able to qualify for coverage under Medigap insurance plans. You must at least meet the following tough requirements:

  • You must be a legal resident or US citizen
  • You have lived in the United States for at least 5 years
  • Worked at least 10 years at a job that is Medicare covered

Common misconceptions about Medicare and why Medigap insurance is so important

One would think that a health care plan established by the US Federal Government that is designed to cover the medical expenses for senior citizens that are currently receiving Social Security payments would truly cover everything. Unfortunately, you would totally wrong and on top of that, each and every Medicare recipient has to pay their own premiums that are automatically taken out of your monthly SS check.

These Medigap plans are also not automatic and if you don’t qualify, you would be financially responsible for all of the doctor bills above what Medicare allows. Then there is the list of services that are not covered by Medicare at all. This list is actually quite extensive and is filled with things that might surprise you to find out that Medicare does not cover and that the Medigap plan you chose would have to be able to cover as much of those things.

Here is a brief list of some of the medical procedures that are not covered by Medicare Part A or Medicare Part B

  • Routine eye care or glasses
  • Eye refractions
  • No yearly exams
  • No Chiropractic services
  • Hearing aids, tests, or exams
  • Prescription drugs

 

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

 

 

Comparing Medigap Plans in Tennessee

If you live in Tennessee and are looking for Medicare Supplement plans, which are in purchased in addition to Medicare Parts A and B of the federal Medicare program, you can opt for Medigap coverage. There are 10 different plans to choose from for Medigap plans in the state of Tennessee, but not all insurance companies offer all 10 plans. And if they do, you’ll notice that some might be more expensive than others. Also, some plans are more advantageous than others, with a few of them being Medigap Plan F, Plan G and Plan N. It doesn’t matter which plan you get, the gaps that the original Medicare has will be filled in by the various plans in varying degrees depending on the plan.

Depending on what Medigap plan you choose a different percentage and number of gaps will be eliminated. If you really want a comprehensive Medigap plan, you should opt for Plan F, as it is thought to be the most advantageous since it pays both Medicare deductible and the 20% that it doesn’t cover at hospitals or doctor’s offices. However, in most cases, Plan G is a better value to all, thus the best option for those looking to get Medigap in Tennessee.

The most important thing to remember is that it doesn’t matter what company you purchase Medigap supplemental insurance from since the plan will work the same way. There are really only two things you need to compare when looking for the right Medigap insurance provider in Tennessee: price and reputation within the industry. Both factors will vary from provider to provider and this is what you should base your Medigap supplemental insurance decision on.

Although it’s possible to compare the companies that offer Medigap in Tennessee to get quotes.  Enrollees can also go online to see charts that will show you the different rates from independent agents and brokers. Doing your research to compare Medigap supplemental insurance plans in Tennessee will help you make an informed choice so that you find one that best fits your personal monthly budget.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Comparing Medigap Plans in Michigan

Medigap is a health insurance policy that is sold by private insurance companies to fill the “gaps” in Original Medicare. There are various Medigap plans available in Michigan.  It is a good idea to understand what Michigan Medigap insurance plans cover to choose a plan that best fits your individual health and budget needs.

When it comes to Medigap it is important to note that it is a supplement to Original Medicare Part A and B in Michigan and is not meant to replace this coverage.  In fact, you must remain enrolled in Medicare Part A and Part B for hospital and medical coverage and be current on your premiums to participate in Medigap.  In addition, be aware that Medigap plans in Michigan do not offer prescription drug coverage.  To receive prescription coverage, you must purchase the stand alone Medigap Plan D, prescription drug plan.

Standard Medigap Plans

In the state of Michigan, private insurance companies offer ten standard Medigap plans that participants can choose to enroll in.  Each Medigap plan covers the same benefits no matter who it is purchased through.  Medigap Plan A is the same through Blue Cross Blue Shield as it is through Aetna.  No matter what insurer the plan is purchased through or the premium that is paid the coverage benefits are the exact same.

How Michigan Medigap Works

As previously mentioned, Medigap plans in Michigan are designed to help Medicare beneficiaries pay for costs associated with Medicare Part and Part B.  This can include copayments, coinsurance, and deductibles.  Medigap plans cannot be used in conjunction with Medicare Advantage.  There are ten standardized Medicare supplemental insurance plans available in Michigan.  Each is identified by one of ten letters: A, B, C, D, F, G, K, L, M, and N.

Enrolling During Open Enrollment

The Medigap open enrollment period is the best time to enroll in a plan.  Open enrollment for Medigap is the same as Medicare Part A and Part B enrollment starting the first day of the month you turn 65 and lasts for six months, remember that to enroll in Medigap you must be enrolled in Medicare Part A and Part B.

During the Medigap open enrollment period you have a guaranteed right to enroll in any Medigap plan that is available within your service area.  You cannot be denied coverage because of your health status or medical underwriting.  Although if you enroll in or switch plans after the open enrollment period you can be denied coverage, be charged higher premiums, and penalized for pre-existing conditions.

Learn more about Medigap plans & rates in Michigan at http://emedigap-plans.com/michigan-medicare-supplement-plans.  Our Michigan Medigap Insurance brokers will help you compare Medigap Insurance rates and plans in Michigan today.  To talk to an expert in Michigan Medigap coverage call toll free 888-452-7949 today!

4 Ways Participants Benefit from Purchasing Medigap

Are you 65 or is your 65th birthday around the corner? Are you enrolled in Medicare Part A and Part B? You have a six-month open enrollment period that begins on the first day of the month in which you are 65 or older. Therefore, this is the best time to start shopping for a Medigap insurance policy. Also known as Medicare supplement insurance, Medigap policies are guaranteed, regardless of the condition of your health and are sold by private insurance companies to fill in some gaps in the coverage you get from Medicare, as long as purchased within your open enrollment period. Consider the following benefits of purchasing Medigap:

  • Medigap Supplements Original Medicare

Medigap is a private insurance policy that picks up where Medicare leaves off, helping you cover co-payments, coinsurance, deductibles, including services such as medical care outside the U.S. This additional cover may not be “necessary” if you already have a supplemental retiree health insurance through a former employer or union. However, it is important because it provides extra protection for high out-of-pocket costs, especially if you become seriously sick or need to receive more care as you age.

  • Guaranteed Coverage

Under federal law, insurance companies cannot deny you a Medigap coverage during a six-month open enrollment period that begins the month you turn 65 and join Medicare. Additionally, even if you lose certain types of health coverage such as Medigap policy, Medicare Advantage plan including private group health insurance, you have the right to buy most Medigap policies within 63 days. Insurance carriers are obligated to offer you the best available rates regardless of your health, which brings us to the next important point.

  • Coverage for Pre-Existing Conditions

During the Open Enrollment Period, an insurance company can’t deny a Medicare supplement policy or charge a higher premium because of pre-existing conditions. While participants may face a six-month waiting period, but as a Medigap beneficiary, they have a “guaranteed issue rights” and will receive all Medicare benefits. Therefore, to ensure eligibility and timely approval, it is important to begin shopping for Medigap early.

  • Popular Medigap Plan F

Baby boomers can celebrate because this plan now pays for all the gaps in Original Medicare Part A and Part B, including both hospital and outpatient deductible. This means zero out-of-pocket at the doctor’s office.

The financial burden of health currently and in the future, including the level of service you receive, may have huge implications and lasting impact on your life. Switching Medicare supplemental insurance plans shouldn’t be stressful, retirees can talk to a reputable Medicare brokers who will help with identifying the best possible coverage for the best possible rates by comparing Medicare plans and rates from private insurance companies that supply Medigap.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!