Medigap Medicare Supplement Insurance Blog

If you have Original Medicare, you’re probably familiar with Part A and Part B coverage. You may have added a Part D Prescription Drug Plan, too. Did you know you can often get all three with a single Medicare Advantage Plan?

These plans are known as Part C because they offer an alternative to Original Medicare that combines Medicare’s Part A, B and D benefits. Medicare Advantage Plans or MA Plans cover the same health care as Original Medicare, but they frequently add extra benefits. (more…)

Do you have a Medigap plan to help reduce your out-of-pocket costs wth Medicare?  If your answer is yes, you might want to consider adding a Medicare Part D plan to help with your prescription costs.  Prescriptions are one of the biggest expenses for seniors.

Medicare’s prescription drug program is called Medicare Part D and it is offered by private insurance companies. These companies and the various prescription plans that they make available are approved by Medicare. (more…)

Changing your Medicare coverage is often a good idea, particularly if you have had the same plan for several years. New plans come to market and you could miss out on better prices if you don’t compare your plan to newer ones. For example, when the new Plan M and Plan N became available in 2010, they became popular for low rates.

When you apply for a new plan, never cancel your old plan until the new one is approved. I recommend waiting until you receive your policy and new insurance card before canceling your old coverage. Incidentally, this means that if you are moving from a Medicare Advantage plan to a Medigap plan, you can drop your Advantage plan between Jan. 1 and Feb. 14. (more…)

If you’re looking for a Medicare plan that will cover your prescriptions, you have two options. You can enroll in a Medicare Advantage plan or add a Medicare Part D Prescription Drug plan to your traditional Medicare.

According to a 2008 article in the Journal of the American Medical Association, almost one-third of U.S. seniors (ages 57 to 85) are taking five or more prescriptions. Having one of these plans would help millions of seniors buying medications to maintain or improve their health. Coming from the private market, Medicare Advantage plans are not available in all areas, but most beneficiaries can choose from up to a couple dozen plans. On average, premiums on these plans are expected to fall by four percent in 2012. (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…)

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…)

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…)

Medigap Insurance quotes are easy to obtain and can help tremendously in sorting through the many choices for Medicare supplement insurance. Medicare Supplements are standardized so there is no variation in coverage from one company to another. However, the prices and company reputations can vary quite a bit.

It does pay to shop around for the best way to meet your health care needs, and that’s true whether you’re looking at Medigap Plans or Medicare Advantage Plans.  But, it doesn’t have to be confusing or time-consuming.  It’s easy to request instant quotes to see what’s available in your state and what the prices are running. (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…)

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…)

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…)

You can sign up for one of the Medicare Advantage plans when you’re first eligible for Medicare. After that, there is an annual open enrollment from October 15 through December 7. Medicare Advantage plans are also being rated for quality now and the plans that achieve 5-star ratings are available throughout the year.

Unlike Medigap insurance, Medicare Advantage plans replace Medicare Part A and B rather than supplement it. If you join one of these plans, you’ll receive coverage that’s equivalent or better than traditional Medicare coverage through private insurance companies. Most of these insurers typically offer additional benefits like dental, hearing and vision benefits. (more…)

Medicare Advantage Plans are popular because they accept any health problem except End Stage Renal Disease. That’s called guaranteed acceptance. People also like that they add extra benefits like dental, hearing and vision coverage above traditional Medicare coverage. These appealing plans are only available during open enrollment, though.

The annual open enrollment for Medicare Advantage Plans runs from October 15 through December 7. Of course, you can always choose an Advantage plan when you first sign up for Medicare. In addition, the top performers that achieve a five-star rating are available for enrollment at anytime throughout the year. (more…)

This year, we have seen an increase in coverage for Medicare beneficiaries after health care reform.  Medicare beneficiaries can now enjoy 100 percent coverage for standard health care services, such as annual physical exams and screening procedures to catch disease.  Yet, that hasn’t resulted in fewer people using Medigap policies to supplement their Medicare coverage.

Last year, Medicare only covered 80 percent of any service from doctors.  That was sometimes the reason why seniors and younger disabled people who relied on Medicare delayed seeing a doctor.  They had to pay for the remaining 20 percent of the medical bill.  Of course, they could add a Medigap Plan to pick up that 20 percent expense. (more…)