Lumaktaw sa pangunahing content

Medicare Supplement Insurance (Medigap) Policy

Original Medicare pays for much, but not all. Medicare supplement insurance policies, sold by private companies can help pay some of the remaining health care costs for covered services and supplies.

Medicare Supplement Insurance Policies are also called Medigap policies.

Some Medigap policies also offer coverage for services that Original Medicare doesn’t cover like medical care when you travel outside the U.S. However, they don’t cover long-term care, vision, dental care, hearing aids, eyeglasses, or private-duty nursing.

Standardized Medigap Policies
Medigap policy follows federal and state laws designed to protect its clients, and they must be identified as “Medicare Supplement Insurance”. Insurance companies can sell you only a “standardized” policy identified in most states by letters  A through D, F, G and K through N. All policies offer the same basic benefits but some offer additional benefits so you can choose which one meets your needs.


Important!
Starting January 01, 2020, Medigap plans sold to people who are new to Medicare won’t be allowed to cover the Part B deductible. Because of this, Plans C and F won’t be available to people who are newly eligible for Medicare on or after January 1, 2020. If you already have either of these 2 plans or are covered by one of these plans before January 1, 2020, you’ll be able to keep your plan. If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans.


How do I compare Medigap policies?

Disclaimer: photo grabbed on google















What else do I need to know about Medigap?

Important facts:    
  •  You must have a Part A and Part B
  •  You pay the private insurance company a monthly premium for your Medigap policy in addition to your monthly Part B premium that you pay to Medicare.
  • A Medigap policy only covers one person. Spouses must buy separate policies.
  • You can’t have prescription drug coverage in both your Medigap policy and a Medicare drug plan. 
  •   It’s important to compare Medigap policies since the costs can vary between insurance companies for exactly the same coverage and may go up as you get older.
  • In some states, you may be able to buy another type of Medigap policy called MEDICARE SELECT. If you buy a Medicare Select policy, you have the rights to change your mind within 12 months and switch to a standard Medigap policy.

WHEN TO BUY
  •  The best time to buy a Medigap policy is during your Medigap Open Enrollment Period. After this enrollment period, you may not be able to buy a Medigap policy. If you’re able to buy one, it may cost more.
  •  If you delay enrolling in Part b because you have a group health coverage based on your current employment, your Medigap Open Enrollment Period won’t start until you sign up for Part B.
  • Federal law generally doesn’t require insurance companies to sell Medigap policies to people under 65. If you’re under 65, you may not be able to buy the Medigap policy you want or any Medigap policy, until you turn 65.

Can I have a Medigap policy and a Medicare Advantage Plan?
  •  If you have a Medicare Advantage Plan, it’s illegal for anyone to sell a Medigap policy unless you’re switching back to Original Medicare.
  •  If you have a Medigap policy and join a Medicare  Advantage Plan, you may want to drop your Medigap policy. Your Medigap can't be used to pay your Medicare Advantage Plan copayments, deductibles and premiums. In most cases, if you drop your Medigap policy to join a Medicare Advantage Plan, you won't be able to get it back.
  • If you had a Medigap policy before you joined, you may be able to get the same policy back if the company still sells it.
  • If you joined a Medicare Advantage Plan when you were first eligible for Medicare, you can choose from any Medigap policy within the first year of joining. 
  • Some states provide additional special rights to buy a Medigap policy.

F    For more information about Medigap you can visit the following websites or call;
  1.       Medicare.gov to find policies in your area.
  2.       Medicare.gov/publications to view the booklet "Choosing a Medigap Policy: A Guide to Health Insurance for people with Medicare".
  3.       Call your State Insurance Department. Visit Medicare.gov/contacts; 1-800-MEDICARE; TTY USERS can call 1-877-486-2048

     
i









·          

Mga etiketa:

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Durable Medical Equipment and Medicare

Medicare   Part B  covers the D urable Medical Equipment (DME).   These are equipment that serves a medical purpose, able to withstand repeated use, and is appropriate for use in at home.  There are many important things to know about Medicare’s coverage for DME. Below are pieces of information that will help you know whether/how you are covered. Eligible equipment Medicare’s DME benefit does not cover all medical equipment.  Medicare only covers DME if your  provider  says it is  medically necessary for use in the home . You also must order your DME from suppliers who contract with  Original Medicare  or your  Medicare Advantage  Plan . However, Medicare Advantage Plans may have additional requirements you need to meet before your DME is covered. DME coverage Depending on what type of equipment you need, Medicare will require that you either rent or buy DME. There are also special rules when you need oxygen equipment...
Mag-post ng isang Komento
Magbasa nang higit pa

Everything you need to know: Medicare Dental Coverage

ADA, The American Dental Association said that individuals 60 and over face some rather unique dental concerns. Approximately one in four seniors have gone five years or more since their last dental visit and 16 percent in this age range consider their oral health as poor. Also, for instance, there are more than 500 medications that cause dry mouth, some of which were prescribed for high blood pressure, high cholesterol, Parkinsons's and Alzheimer's disease. This is now the common cause of cavities in older adults. Unfortunately, Medicare doesn't always help with this issue. In fact, according to Medicare.gov , this federal health insurance program typically does not cover dental care, procedures, or supplies. They don't provide benefits toward regular cleanings or services designed to treat and/or correct problematic oral issues, such as fillings or tooth extractions and they don't generally offer benefits for dental devices, including dentures and dent...
Mag-post ng isang Komento
Magbasa nang higit pa

Medicare Advantage Star Ratings

The Medicare Advantage and Part D star ratings for 2020 shows that more plans have 4 stars or higher star ratings this 2020 as compared to 2019. Also, there are more plans being offered to start on October 15.  According to the Centers for Medicare and Medicaid Services, there are about 1,200 more Medicare Advantage plans operating in 2020 than in 2018. Approximately 52 percent of contracts for Medicare Advantage plans offering Part D coverage earned 4 stars or higher, compared to about 45% in 2019. In the 401 contracts for 2020, 210 are at 4 stars or higher, compared to 172 in 2019 when there were only 376 contracts. Twenty contracts for MA and Part D earned 5 stars, 72 earned 4.5 stars and 118 earned 4 stars. This compares to 14 that earned 5 stars in 2019, 64 that earned 4.5 stars, and 94 that earned 4 stars last year. The comparison between 2020 and 2019 shows 55 contracts rated 3 stars for 2020 as opposed to 66 in 2019. The average star rating for 20...
Mag-post ng isang Komento
Magbasa nang higit pa