From the category archives:

Medicare

Finding the Best Medicare Supplement Plan

by Steve

Just the thought of trying to choose a Medicare supplement plan can give you a headache and feeling of dread. Plan A in the Medicare group has the fewest benefits and is the least expensive and Plan J has the most benefits and is the most expensive. Somewhere in between, you should be able to find a plan that’s right for you.

The best way to look for a plan is to go to www.medicare.gov, the official government website for Medicare and peruse the wealth of information available to find out about eligibility, what you get with basic Medicare coverage and the types of plans that you’ve got to choose from. The site also offers a telephone number if you want to talk to a representative about which plan is right for you.

Medicare supplement plans are only available for one person, not a family or husband and wife. Try to find a plan during the first six months after you enroll in Medicare, Part B. Insurers have to accept you into their plan during that time even though you may have had preexisting conditions. After the six month time period, policies could cost more.

You should know that Medicare Supplemental plans which charge higher premiums don’t get you any more coverage than you’d get for the same plan with a lower premium – and, procedures for filing claims are exactly the same. Medicare’s Medigap plans increases the amount of health insurance if you’re eligible and have enrolled in Part A and B. Also, Medicare’s Medigap plans usually increase every year on January 1st, the same time that benefits are adjusted.

Along with the raises to Medicare plan premiums each year, you should know that Medicare also adjusts rates for “attained age.” So, between about 80 and 90 years old, the premiums are at their highest – just when they’re least affordable. Medigap policies are also adjusted according to others in your geographic area, so that everyone is paying the same premium.

You can purchase an issue-age or community-rated Medigap policy that charges the lowest premium. It may be a bit more expensive at first, but your premiums aren’t raised every year as you age. Medigap policies are provided by companies like Blue Cross, Blue Shield and Humana and offers extra coverage that might help healthcare deficiencies offered under the Original Medicare, Part A and B.

Some questions you should ask before you sign up for a Medicare Supplement plan are what the coverage is on the services you know you’ll need, how does the supplement work with other health care coverage you might have – such as from an employer — and how much you’ll pay out of pocket for hospital stays and doctors’ visits. Other questions might concern drugs and prescriptions you’ll need and whether or not you’ll be covered elsewhere if you travel a great deal.

Medicare and Medigap sounds complicated and can be confusing, but one of the professional health insurance representatives at Medicare can work with you and help you to find the best possible policy and premium for you.

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Choosing between Medicare Supplements and Medicare Advantage

by Steve

You may not be aware of the differences between Medicare Supplements and Medicare Advantage, and you certainly would not be alone if you didn’t. These differences are important though, and you need to understand so that you can make the best possible choice for yourself.

Yuma Insurance can help you find the answers to all your health insurance questions.

Medicare Supplement Plans

Medicare Supplement plans are also known as “Medigap” plans due to the fact that they fill in and cover “gaps” in coverage that Original Medicare may not cover. There are 12 different plans that range from A to L and they all provide a different amount of help and coverage.

These Supplement plans are provided by private health insurance companies, so they do not usually have a monthly premium and they vary in pricing by coverage, zip code and age in much the same way that other health insurance does. The majority of these Supplement plans are also subject to yearly price increases, so while you may purchase the policy at one price, it may very well go up as the years go by.

Keep in mind that, while there are guaranteed enrollment periods, there may be other times or circumstances where a person may still be subject to normal health insurance underwriting, just like any other individual policy. Be sure you understand how this may affect you before you drop another plan for a Supplement plan.

It is important for you to remember that when you are insured, you will still use your government issued card as well as the ID card issued by the insurer. These two parts are meant to work together in order to provide the desired health coverage.

Medicare Advantage

Medicare Advantage plans vary in that they actually take over the health coverage for a person. The member only needs to use their Medicare Advantage (MA) plan card to verify coverage. There are different types of these plans as well, and they are provided by private insurance companies, too.

There are PPO, HMO or Fee For Service plans depending on what is available in your particular zip code and what you are looking for. There are plans that come bundled with Part D (Prescription) coverage, some plans that require an additional premium and some plans that rebate part of the Part B premium that most Medicare beneficiaries have debited from their social security checks. Many of these Medicare Advantage plans were shut down in 2009, so understand how these plans will serve you going forward.

There is no ‘one’ right plan for everyone and you will need to do some research to find the best fit for you. Many seniors are more than happy with the flexibility of their Medicare Supplement (Medigap) plan, while others feel better with an MA. Your budget will also play a role in your decision, so you will need to know what your budget is from the beginning.

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Medicare Supplements Why You Need Them

While Original Medicare is supplied to help with basic medical care…it only helps with basic medical care. Meaning that, when you really need medical attention, Medicare will only cover a small portion of what you could be charged for. That’s where the Medicare Supplement plans come in. They fill in the gaps that are left [...]

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Selecting Your Medicare Supplement Plan

Medicare Supplement plans are a kind of private health insurance policy that is designed to fill in the gaps that are left in the Original Medicare plan coverage. These plans work similarly to coinsurance and deductibles, although some plans cover costs that are not at all addressed by the Original Medicare plan. Because the Supplemental [...]