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

Medicare Part D Costs for 2020

Before 2006, Medicare did not cover prescription medications. There was a limited number of medications that were offered under Medicare Part Band,  and otherwise, you had to pay for your medications out of pocket. In 2003, everything had changed when President George W. Bush passed the Medicare Prescription Drug, Improvement, and Modernization Act (MMA). This is what we now know of as  Medicare Part D , an optional part of Medicare that provides prescription drug coverage. Part D plans are run by private insurance companies and not by the government. However, the federal government sets guidelines on what basic medications are covered and how much you can be charged.  A deductible is the amount of money you spend out of pocket before your prescription drug benefits begin. Your plan may or may not have a deductible. The maximum deductible a plan can charge for 2020 is set at $435. It has increased by  $20 from 2019...
Mag-post ng isang Komento
Magbasa nang higit pa

Medicare and Hospital Discharged Planning

Hospital  discharge  planning is a process that determines what kind of care you will need after you leave the hospital. This discharge plans can help prevent future readmissions , and they should make your move from the hospital to your home or another facility as safe as possible. Medicare  requires hospitals to screen  inpatients  and provide discharge p lanning for those who need it. But this  is only mandatory for hospital inpatients, if you are an  outpatient, possibly  on  observation status,   Medicare will not require screening or discharge planning. However, there are some states that provide outpatients with rights to discharge planning services. For more information on discharge planning in your state, please contact your  State Health Insurance Assistance Program (SHIP) . Your  discharge plan  should include information about where you will be discharged to, the types of care you need, and who will provi...
Mag-post ng isang Komento
Magbasa nang higit pa

Medicare & group health plan after you retire

Will my group health plan still work after I retire? It would depend on the terms of your specific plan. Other employers might not offer any health coverage after your retirement and even if you can get one, it might have different rules and might not work the same way with Medicare. When you have retiree coverage from an employer or union, they usually manage this coverage. Employers aren't required to provide retiree coverage, and if they would, they can change benefits or premiums, or even cancel coverage.  They may offer coverage that limits how much it will pay. It might only provide a stop-loss coverage that starts paying your out-of-pocket costs only when they reach of coverage that's covered. What happens to my retiree coverage when I'm eligible for Medicare? When you become eligible for Medicare, you will need to have both Medicare Part A and Medicare Part B to get full benefits from your retiree coverage. If your former employer offers retiree...
Mag-post ng isang Komento
Magbasa nang higit pa