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Serving Florida and Texas

SENIOR HEALTH

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For those Medicare eligible there are 2 ways to have your Medicare Insurance coverage if there is no employer option available to you. For those who choose to use Original Medicare Parts A & B, a Medicare Supplement or "Medigap" policy will pay its share of the Medicare deductibles and coinsurance after Medicare pays its share. For a further explanation of Medicare Supplement Insurance or to get your personal quote from leading carriers call us Today (888) 865-9086. 

The other way to have your coverage is through the Medicare Advantage (Part C) program which will provide medical benefits and prescription drug coverage on one policy. For more information on the Medicare Advantage program or Medicare Part D prescription drug coverage including a no obligation quote contact us Today!

MEDICARE SUPPLEMENT (MEDIGAP) INSURANCE

Original Medicare pays for many, but not all, health care services and supplies. A Medicare Supplement insurance policy, sold by private companies, can help pay for some of the health care costs not covered by Medicare. These include co-payments, coinsurance, and deductibles. 

Some Medigap policies also offer coverage for services that Medicare does not cover, like travel to a foreign country and fitness programs like SilverSneakers. If you have Medicare and buy a Medigap plan, Medicare will pay its share of the Medicare-approved amounts for covered services, then the Medigap plan will pay its share. Medigap policies charge premiums, and are standardized in all states except Massachusetts, Minnesota, and Wisconsin. 

All Medigap policies must follow federal and state laws designed to protect you, and policies must be clearly marked and identified as “Medicare Supplement Insurance.” Insurance companies can only sell you the standard plans identified in most states as Plans A-N. The letters denote the benefits that are provided by that policy, ie a Plan F offers the same benefits no matter which insurance company is offering it. 

 

Plan F is a popular choice, as it covers Medicare Parts A and B coinsurance, first 3 pints of blood, Part A hospice coinsurance, skilled nursing coinsurance, Parts A and B deductibles, Part B excess charges, and foreign travel emergency services up to the plan limits. Plan F offers the most coverage, therefore has the highest premium. A second popular plan is Plan N which covers everything in Plan F except the annual Part B deductible. In addition Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for physician office visits and up to a $50 copayment for emergency room services that do not result in an inpatient admission. Plan N will cost approximately 30% less than a Plan F with most insurance companies. Legislation that went into effect January 2020 will no longer allow the sales of Plans F or C to anyone first going on Medicare in January 2020 or forward. In most instances we will recommend a Plan G to replace F and C. Plan G has the same benefits as F with the exception that the consumer will pay the annual Part B deductible themselves currently $198 in 2020. 

In some states you may be able to buy a policy known as Medicare Select. A Select plan will require you to use certain hospitals, and in certain policies certain physicians except in emergencies. 

Some important facts to consider concerning Medigap policies:

• You must have Medicare Parts A and B. 

• You pay a monthly premium for your policy in addition to your Part B premium. 

• A Medigap policy only covers one person. Spouses must buy separate policies. 

• It is important to compare policies since companies will charge different premiums

   for the same coverage. A company that offers community rating will only raise

   rates for the entire group, rather than single out individual policyholders. 

• Federal law does not require insurance companies to sell Medigap policies to

   people under the age of 65. If you are under 65 and qualify for Medicare, you may

   not be able to buy the Medigap policy you want, or any Medigap until you reach

   65. However, some states require Medigap insurance companies to offer Medigap

   to people under 65.

• If you have a Medigap policy and join a Medicare Advantage plan, you should drop

   your Medigap. Your Medigap cannot be used to pay Medicare Advantage

   cost-sharing like copays, coinsurance, deductibles, and premiums.

 

For your personalized quote contact us for the help you need!

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