Medigap Medicare Supplement Insurance Blog

Hospital bills, prescription medicines, and other medical expenses are a bigger problem during retirement when your income is reduced. That’s also the time when health care bills tend to increase, but that bad timing doesn’t have to completely drain your savings.  One very popular option for senior health care is known as Medicare Supplement Insurance or Medigap Insurance.  It comes in the form of 10 benefit packages that help out with hospital stays and doctor visits.

Recently, Anthem Blue Cross and Blue Shield created Anthem Extras Packages for Medigap customers.  This plan provides extra benefits, such as coverage for dental and vision care in one convenient package.  It’s available as a stand-alone plan or in addition to one of the existing Medigap Plans. (more…)

Medicare Advantage plans are another way to get Medicare benefits. This alternative is offered by private insurance companies and these insurers usually add more benefits than you can get with traditional Medicare. However, if the provider network, or anything else about the plan’s rules, doesn’t meet with your complete satisfaction, you can switch back to original Medicare from January 1 to February 14. Since you’ll be giving up the prescription drug coverage that typically is included in Medicare Advantage plans, you may also sign up for a Part D prescription drug plan during that period.

If you make the switch during January, the change will take effect on February 1. If you do it during February, the change will take effect on March 1. When you want to sign up for a Part D plan and drop your Advantage plan, you simply need to enroll with the Part D plan and Medicare will automatically disenroll you from the Advantage plan. The effective date will be the same for both of these changes. (more…)

All of us have to face the reality that sooner or later our health could deteriorate.  Even after you have Medicare, it’s coverage is not complete enough to secure your future if you need to see a doctor often or you have to stay in the hospital.  Medicare contains gaps in coverage for both doctor and hospital expenses.

It leaves you to pay for 20 percent of your doctor bills and requires you to pay for a lot of hospital care.  In 2012, you need to spend $1,156 to meet the Part A deductible before Medicare covers hospital bills.  Once that deductible is met, Medicare will cover the first 60 days in the hospital of each benefit period.  It’s not an annual deductible like the Part B deductible on doctor care is.  If you need more than 60 days of hospital care, you are charged $289 a day for days 61 to 90, and then $578 a day for days 91-150.  You’re on your own after 150 days. (more…)

Medicare Advantage plans can expand on traditional Medicare coverage to help with dental, hearing and vision services without even raising your monthly premiums. That’s because Medicare Advantage plans are subsidized by the federal government.

These plans do have some restrictions, though. With the exception of emergency situations, Medicare Advantage plans require you to get services through their network of providers. There’s usually no coverage when you go outside of the network. Needing a doctor who’s not in your plan’s list of providers is one of the reasons why you may need to rethink your choice of plans. (more…)

Medicare Advantage plans are another way to receive Medicare benefits. They replace traditional Medicare Part A and B benefits with coverage through a private insurance company that adds on prescription drug coverage, like a Part D plan. Most Advantage plans add coverage beyond Medicare to help with dental services, eyeglasses and hearing aids.

One of the big selling points behind the growth in Medicare Advantage plans’ enrollment is the low premiums. In some areas, plans are available that cost nothing beyond the regular cost of Medicare Part B premiums. Another major attraction is that Medicare Advantage plans accept all health problems except End Stage Renal Disease. (more…)

Medicare deductibles, along with co-insurance and co-pay charges, can add up to thousands of dollars in medical debt, but Medicare is not your only option. Both Medicare Advantage Plans and Medigap Insurance can expand on the benefits available through traditional Medicare. Your health status may impact those choices, though.

As with conventional health insurance, insurers are permitted to decline applications for Medigap Plans if the applicant has a pre-existing condition. There are certain periods when Medigap Plans are “guaranteed issue.” That means your application cannot be declined no matter what pre-existing conditions you have. If you enroll during the first six months after turning 65 and they have Part B Medicare, no health questions will be asked. For those who are eligible for Medicare due to disability, You may find some other open enrollment opportunities, but it varies by state. (more…)

In August, the Congressional debate over who pays for budget cuts heard from the military. U.S. Defense Secretary Leon E. Panetta urged Congress not to trim more of the military budget at any cost. According to Panetta, we should increase taxes and cut Medicare and Social Security. Obviously, he’s not running for election, but will Congress follow his lead?

While the military’s budget was increased by over 70 percent just since 2001, this year is the first time that Medicare has paid for preventive health care. To be fair, it was paying for 80 percent of fixed fees for doctor care that could be deemed necessary to detect and/or prevent common diseases. Still, beneficiaries had to supplement their Medicare benefits with a Medicare Supplement insurance plan (a Medigap plan) to cover that last 20 percent or pay for it themselves. In tough economic times, that 20 percent could block access to essential preventive health care. (more…)

Medicare beneficiaries have an alternative to traditional Medicare in the form of Medicare Advantage plans. These plans are guaranteed issue regardless of any pre-existing health problems with the exception of End Stage Renal Disease. Even though the plans accept most health conditions, the time when you can sign up for one is strictly limited.

When you first become eligible for Medicare, whether from a disability or by virtue of turning 65, you can choose any one of the Medicare Advantage plans operating in your area. After that initial sign up period lapses, there is a yearly open enrollment from October 15 until December 7. Many people think these plans are available throughout the year, but that only applies to a handful of Advantage plans. (more…)

Medicare Supplement plans do raise their rates. However, contrary to popular belief, there is no annual enrollment period for Medicare Supplement plans. So, regardless of when you see an increase in your premiums, you may be able to find a better option as long as your health is relatively good. Insurers are still permitted to decline your application if they think you will have a lot of claims.

You may find a few open enrollment periods on Medigap insurance, but that’s up to the discretion of the insurance companies. Anthem, for example, is offering Medigap open enrollment until the end of 2011. They will let you change from your current Medigap plan to one with fewer benefits regardless of your health problems. (more…)

Do you know that you have another alternative besides Medicare Supplement Insurance to expand Medicare’s benefits?  Rather than join Medicare and supplement it with Medigap Insurance, you can sign up for one of several Medicare Advantage Plans from a private insurance company.  These plans are known as Part C or MA Plans.

Medicare Advantage Plans combine your Medicare Part A, Part B and Part D benefits.  To enroll in a MA Plan, you must be enrolled in Part A and B and live in an area where MA plans are available. Medicare Advantage Plans may not cost any more than your Part B premiums because federal subsidies go directly to insurance companies offering Advantage Plans. (more…)

Supplemental health plans for Medicare beneficiaries or Medicare Supplement insurance may soon be facing cutbacks as a result of major budget reductions. Medigap Insurance plans provide additional coverage for people who have Medicare. These individuals often live on fixed incomes and rely on Medigap Plans to protect them from the deductibles and out-of-pocket costs that Medicare does not cover.

As the name implies, Medigap policies fill in the gaps of Medicare’s Part A and B coverage.  Remember that Medicare only pays for 80 percent of doctors’ fees, even if they accept Medicare.  There are 10 different Medigap Plans and certain ones pick up that remaining 20 percent of doctor bills.  If you need a specialist who charges higher rates than Medicare covers, some Medigap policies will cover the excess charges, too. (more…)

People too often waste money on Medicare Supplemental Insurance.  It’s not that the coverage isn’t worthwhile.  It’s because more than 45 percent of Medicare beneficiaries have never compared their coverage options, according to a new National Council on Aging and United Healthcare poll.

Depending on where you live, you may be able to use Medicare Advantage Plans, Medigap Plans or Prescription Drug Plans to pay for many of your health care needs. Each of these options comes with different coverage and different rules. The fastest way to weigh your options is with our professional help.  We work with supplementing Medicare every day and we’ve helped people figure out the best fit for their needs for many years. (more…)

If you have Medicare, you have several different options that can add to your coverage.  To make it simple, you can either get your benefits from original Medicare with Medicare Supplement Insurance plans, or you can get similar benefits through one of many Medicare Advantage plans. If you go with an Advantage plan, a private insurance company will handle your Medicare benefits for doctor services, hospital care and prescription drugs.

Those benefits are also known as Medicare Part A for hospitalization, Part B for doctor services and Part D for prescription coverage. These Medicare Advantage plans are known as Medicare Part C, and an Advantage plan will effectively replace your government Medicare coverage. If you don’t have an Advantage plan available where you live, or you don’t like certain rules associated with that option, you can sign up for Original Medicare. (more…)

Wouldn’t it be simpler if Medicare would just pay for all of your doctor bills and any charges if you needed to go to the hospital? Trying to understand whether hospital bills are covered under the same benefit period or whether you have to meet Medicare’s Part B deductible to see a doctor can get really confusing.

Medigap plans or Medicare Supplement Insurance plans can simplify what is covered by filling in Medicare’s gaps. For instance, when Medicare pays for 80 percent of your doctor’s fee, Medigap can pay the rest of it. If a doctor charges more than Medicare’s pre-determined rate, Medicare Supplement Insurance can pay for whatever Medicare fails to cover. (more…)

With so many ways to get your Medicare benefits, it’s easy to mistake Medicare Advantage plans for Medicare Supplement insurance. The basic difference between Medigap plans and Medicare Advantage plans is that Medigap plans work with Medicare and Advantage plans replace Medicare.

You must have Medicare Part A and B to join one of the Medicare Advantage plans. For people with pre-existing medical conditions, Advantage plans can really be helpful because all conditions except End Stage Renal Disease are accepted. If you already have a plan before that condition develops, you may keep your coverage. (more…)

The average Medicare beneficiary sees about seven different doctors. They also fill about 20 different prescriptions a year. When you add up all the out-of-pocket costs that Medicare beneficiaries may have for doctor bills and medicine, that’s just too hard to budget.

That’s why a lot of people have added Medicare Supplemental Insurance or Medigap Plans to help with those bills. These plans come in different “flavors” to let you pick coverage that you’re most likely to need. Why pay for something you rarely need? The plans with fewer benefits can mean lower premiums, but you still need to compare a plan from different insurance companies because the premiums will be different. And, quite possibly, the cost could vary by hundreds of dollars per year. (more…)

There are a lot of ideas being thrown around that could ultimately affect what Medicare covers and what Medicare Supplemental Insurance provides.  Medicare, itself, has expanded to pay for more health care that’s designed to help you maintain good health.

There’s also a new rating system for Medicare Advantage Plans that grants plans with the highest grade year-long open enrollment. High-ranking plans also get bigger subsidies, and that’s likely to keep their rates low. (more…)

You can’t say that one plan is better than another in all respects because different benefits fit some people’s needs better than others. It’s like comparing “apples and oranges.” Medicare Advantage plans are very different from Medigap Insurance plans.

Medicare Advantage plans replace traditional Medicare benefits with similar coverage provided by private insurance companies. While Medigap plans are also provided by private insurers, these policies add to Medicare benefits rather than replace them. For example, when Medicare pays 80 percent of your doctor bill, you could add a Medigap plan that would automatically cover the remaining 20 percent. (more…)

This year, open enrollment for Medicare Advantage Plans or Medicare Part C will last until December 7. You still have time to decide whether to keep your Medicare Part A and B and supplement it with a Medigap Plan, or whether to get all of your benefits from one of the Medicare Advantage Plans.

Medicare Advantage Plans are popular because you can enroll even when you have any health problem except End Stage Renal Disease.  Not all Medicare Advantage Plans cover all types of medicine,though.  You’ll need to confirm whether your prescriptions will be covered before you apply.  Remember, these plans don’t expand your Medicare benefits. They replace the coverage that’s available through Medicare, so you won’t be able to use Medicare’s benefits with a Medicare Advantage Plan. (more…)

Have you just realized that Medicare doesn’t pay for all of your health care expenses? If you are currently enrolled in Medicare, now is the final chance to get a Medicare Advantage plan for 2012. These plans can expand on Medicare’s coverage, and may not raise your monthly premiums. That’s because Medicare Advantage plans are subsidized by the federal government.

Open enrollment ends December 7, but since there could be several plans available where you live, you may want to start investigating your options as soon as possible. There are a couple of things to aware of when you’re comparing benefits. Medicare Advantage plans have their own network of health care providers, so you’ll want to see whether your doctor is in-network. You won’t have any coverage to see out-of-network doctors. (more…)