It was a heartbreaking meeting sitting with a couple at their kitchen table as tears streamed down both of their faces. He was very ill, rapidly losing weight from digestive problems, and his constant migraine headaches were so painful, ending his life seemed to be the only option to live pain-free. To say they were afraid would be an understatement. Physicians associated with his current Medicare Advantage Plan (Medicare Part C) could not diagnose the problem. They only prescribed more drugs, which exacerbated his issues. On top of his medical puzzle, the Plan denied medical tests, which might have ultimately diagnosed his problem. It was October 2011, and through their tears, they painfully asked, “What are our options?”
For Medicare Supplement Plans 2019, https://www.medisupps.com/things are so much more different. As seen in the initial tale, in this case, together we decided it was in his best interest to switch to a Medicare Supplement (MediGap) Plan, which would allow him to go to any physician or facility that accepted Medicare, along with a ” Stand alone Part D Prescription Drug Plan.” It was important that he be able to seek the best of the best, anywhere in the country. We chose an “F Supplement Plan” with a carrier that would allow him to switch between a lower and higher cost plan WITHOUT proving insurability (if in the future, he decided to maintain the Supplement Plan after his current medical puzzle was solved).
Could he have avoided this problem in the first place? Possibly. Here are a couple of mistakes I have seen, along with the solutions, to help you choose the right option for you. The first mistake is who you are working with. Working with a “captive insurance agent” (direct employment with the carrier, many times they are compensated by W2, commissions and/or bonuses) or working with an ‘independent career agent’ (1099 contractor with the carrier and provided with leads). The latter term is very confusing to me. They are classified as independent, yet if they write an application with another carrier because it was right for the beneficiary, their contract may be terminated. What incentive does the agent have to be non-partial, if they will lose their lead source? Another mistake is working with an agent that is not certified to market all types of Medicare health plans. They can only market ‘some’ MediGap’ supplement plans with no certification.
It is essential to understand that Medicare only covers part A and Part B plans. These are the plans that cater to the medical cost which include home care and nursing aids. However, the prescription drugs are not covered by Medicare, and they may incur high costs if the seniors opt to buy in cash.
It has 12 different plans upon which one can opt to choose one according to the need which all offer substantial benefits. If one requires to have Medicare supplement plans and have a salary which is remitted on a monthly basis, then Medicare becomes the best option to go for.
The reasons then as to why a senior would need the plan are;
The plan is cheap, and any senior with reliable income can afford. Since Medicare supplement plan has different options, the mentioned 12 plans which the government has allowed different companies to offer, then it support even those who are not well financially to sort out issues and come up with insurance that will give them support in case of need.
Applying for Medicare is not a complicated process- Once you understand how it operates, then it becomes possible even to ask for preventive insurance whether you are in the country or have traveled away from the state of residence.
Seniors who are over 65 and above with some fixed income. This happens to be a very accommodative type of insurance because you are well assured that the extra costs that are above Part A and B will be covered.
Because of the many options that Medicare supplement offers, one only needs to work on the budget that he would wish to use on the plan and choose amongst the available options the one that best fits him which as an added advantage since anything to do with guesswork is eliminated.
A person with Medicare does not have to keep worrying should you find that the cover is not sufficient enough to cater for the entire medication, since Medicare supplement is on standby and readily available whenever needed.
The copay, coinsurance, and other deductibles are managed by the supplement plans which if only one has the Medicare cover, then one will have to pay from the pockets which adds more costs from the pocket.
There are lots of things that must be taken into consideration before making a perfect selection. As we know the policy only cover service for one person at a time if you want one for your spouse or any other member you have to buy separate policies. While choosing the best policy, you may get doubts; it is advisable to clear all your hesitations and doubts.
Types of coverage not under Medicare supplement plan
Medicare Prescription Drug Plans (Part D)
Medicare Advantage plans (like an HMO or PPO)
Long-term care insurance policies
Employer- or union-sponsored group coverage
There are many other plans but above mentioned don’t come under this Medicare supplement plan, but you can always make a use out of the other plans and can be benefited. These plans are available in most states; each has their own different set of Medicare Supplement plans.
Benefits don’t come under Medicare supplement plan
The below mentioned are some of the benefits that don’t come under Medicare supplement plans:-
Price you have to pay for a Medigap Policy
It doesn’t require any cost to get the policy; only you have to pay the premium to get the medigap policy. Rather, the medigap policy helps in your payment of part B bill. If any of the Medicare insurance company denies for paying consult to your doctor whether they have participated in Medicare. If the doctor has participated, then your insurance company has to pay the bill. There are many different prices for the same policy, beware of what you are buying by going through the quotes which save money as well as time.
Illegal medigap policy
There can be many illegal ways of the frauds to get you a false medigap policy, for which you need to be alert. Don’t go for the policy which asks huge money or which pressurize to buy the policy, or selling a policy to you which is not legal in your state.
Hence, beware of the purchasing of policy, clearing the doubts and lead your future safe.
Are you new to Medicare, do you wish to sign up for Medicare, do not worry this is a simple process. You need not call each carrier, there are affordable plan in your area also and it is offered by recognized insurance carriers. You can very well go through it and it is free 100%. Even after going through you have the liberty to not sign up.
The Medical coverage selection that you choose should be easy is your expectation, but unfortunately that does not happen. But, now you have ways to simplify the process. You can compare rates online of the affordable carriers in your state or the local areas and take a confirmed decision without any obligation.
View the rate and sign only when you are confirmed of the Medicare Supplement Plans. In fact, even giving consent is not considered as any condition of purchase and so you have the privilege to revoke your consent regardless of the time.
A person 65 year old may enroll in a Medicare Supplement F plan as it may save around 10% on an average on the premiums paid monthly, if they are non-smokers. This is based on the analysis done by the health team.
There is no doubt that the Medicare Supplement plans in the market vary greatly by state owing to the underwriting as well as the compliance rules. In fact, in some states, charging smokers is considered illegal for a Medicare Supplement Plans. On the other hand, some states have made it illegal to charge men and women with price difference. For instance, the states that permit pricing difference as per gender, it is observed that the men pay 5% more in comparison to the women when they are 65 as per the Medicare supplement plans F.
There are Medicare Supplement plans of 10 types available throughout the nation. 40% are enrolled in Plan F and thus it is considered highly popular. Taking into consideration the monthly premiums on an average for a non-smoker and a smoker enrolled in Plan F in a Medicare Supplement at age 65 informs various details such as:
The smokers pay more by 10% in Plan F on an average.
The insurance companies in many states do not provide such non-smokers discounts.
There is difference with each state such as Alaska revealed lowest non-smoker average premium as $128 a month, while it was $140 for smoker for the same plan. This reveals there is difference in premiums, based on health risk.
Medicare Supplement plans are offered by private insurance companies. They are known also as Medigap plans. These plans help you in paying for out-of-pocket costs that are not covered under the Original Medicare. These can include coinsurance, Medicare deductibles and skilled nursing facility or hospital charges as out-of-pocket costs after you have used up the Medicare coverage. Here are some of the factors to find the ideal Medicare Supplement plans for insurance.
Factors to find ideal Medical Supplement Insurance
Health: Finding an ideal plan is based on your health. The recent health history and your health determine the ideal Medical Supplement plans for you. Some plans may be good than others. This also depends on how often and how much you use the services of health care. However, if you have a healthy history you benefit as you get multiple choice and the prices also is favourable than people having different health history.
Age: Age has a great impact on your health coverage. The health coverage needs a change and so there is a need for you to consider a change with Medicare Supplement plans type so that the coverage needs are adjusted. The plan best for 65 years old may not be appropriate for the same person at 70 years. Thus the age and health care is prioritized to choose Medicare Supplement insurance plans. The good news is you can change plans.
Timing: Timing is important in Medicare supplement plan choices. Sometimes during a year, the open enrolment or even the initial enrolment eligibility period will show no impact of your ability on your health history to choose between plans and companies. With Medigap plans, you can change or choose plans during other times of the year. However, your health history plays a crucial role in the availability of plans and the best options for you.
Location: Your location is a must factor to be considered. This is because not all the insurance companies offer in all the states the plans. The pricing and availability vary by insurance company. Thus, your ability to have the right plan at best price depends on the state you reside and the companies participating in the coverage of Medicare Supplement plans in that state. For instance, the Plan F in your state with an insurance company may not be the same as your own sibling paying for the same Plan F in a different state even with the same insurance company.