THe Advantages of Medigap Policies
If you are nearing the age of retirement, you may need to consider purchasing Medigap policies and the Advantages or MEDIGAP. I have heard countless seniors, including my own parents, complaining about the lack of coverage from Medicare Parts A and B; neither covers all of their health expenses. In fact, some doctors won’t even accept Medicare as payment in full for their services. You will want to check with your employer to see if they offer retirees coverage that fills in the gaps in coverage including co-pays for doctor visits, hospital stays and lab work. If they do not, purchasing one of the ten standardized Medigap policies is often a good idea.
The different Medigap policies are labeled with the letters A-N; however, Plans E, H, I and J are no longer offered. You will instead need to choose A, B, C, D, F, G, K, L, M or N. The most popular is Plan F as it offers the most comprehensive coverage. After the deductible is met, Plan F covers the hospital co-pay, the first three pints of blood, Part B coinsurance and $140 of the annual deductible, skilled nursing facility (SNF) daily co-pay, hospice pay, Part B excess charges, as well as medical coverage outside of the United States. Of course, the more comprehensive the plan, the more expensive the premium. Plan F also offers the same benefits with a higher deductible, making it more affordable for many seniors.
For those that can’t afford Plan F or G or don’t feel that they need that much coverage, here is a list of the basic features of the other plans.
Plan A: hospital co-pay, Part B co-insurance first three pints of blood, and hospice care.
Plan B: includes the same coverage as Plan A, as well as the hospital deductible.
Plan C: includes the same coverage as Plan B, as well as $140 towards the Part B Annual Deductible and emergency care outside of the United States.
Plan D: is the same as Plan C, but does not offer any money towards the Part B Annual Deductible.
Plan G: offers the exact same coverage as Plan F, but does not offer any money towards the Part B Annual Deductible.
Plan K: covers the hospital copayment and 50 percent coverage on Part B co-insurance, first three pints of blood, hospital deductible, SNF daily co-pay and hospice care.
Plan L: offers the same coverage as Plan K, but pays at 75 percent.
Plan M: is the same as Plan C, but only 50 percent of the hospital deductible is covered.
Plan N: is the same as Plan C, but requires $20 co-pay for doctor visits and $50 for emergency visits.
Medigap policies are available through private insurance companies in all but three states. For more information, call 1-800-MEDIGAP (1-800-633-4427). An experienced customer service representative can help you decide which Medigap policy is best for both your financial and health needs.
Medicare Part D Plans
Saving On Your Medication With Medicare Part D Plans
If you are like the majority of senior citizens, you have several prescription medications that have become part of your daily regimen. As many people age, they start to develop health problems and are diagnosed with chronic conditions such as diabetes, cholesterol, or high blood pressure. Some of these problems cannot be treated with diet and exercise alone and a prescription medication must be added in order to control the condition. Unfortunately, with the prices of prescription medications getting higher every year, many senior citizens who are covered under Medicare simply cannot afford their medications. Many have to lessen their dosage of medication in order to make it last longer, while others stop taking their medication all together. This can be extremely dangerous and so finding another way to help reduce the cost of prescription medications is a necessity. Because Medicare itself does not cover prescription medications, it may be necessary to look into
Medicare part D plans.
Medicare part D plans are run by private insurance agencies and are separate from the standard Medicare insurance. Although these plans require an additional monthly premium, they are a great help in getting the prescription medication coverage that you may need, especially if your medications are incredibly expensive. In most cases, the benefits of having a Medicare part D plan outweigh the burden of the extra monthly premium.
Because Medicare part D plans come with a gap in coverage, you’ll want to make sure to choose a plan that matches with the particular prescription medications that you are taking. You’ll want to start by calculating your monthly out-of-pocket expense for all of the prescription medications that you are currently on. Next, writing down the names of all of the medications that you are currently on will ensure that your insurance agent will help you to choose a plan that covers all of those specific medications. The goal is to plan your Medicare part D plan so that you don’t reach your gap in coverage, where you have to start paying 100% out-of-pocket. By calculating it correctly, you should be able to choose a plan that will allow you to receive coverage on all of your medications without reaching the gap. This way you can get the full benefit of your insurance plan.
By enrolling in a Medicare part D plan, you can take care of your body by making sure to take your prescription medications as directed by your physician. You can receive more information on Medicare part D plans that will help to make your prescriptions affordable. Taking your required medications will help to improve your quality of life. Call 1-800-MEDIGAP today to enroll in a supplemental prescription plan. By simply calling 1-800-MEDIGAP (1-800-633-4427) toll free, you will start saving on your prescriptions.
Dis- Advantage Medicare Advantage Plan
Deciding If A Medicare Advantage Plan Is Right For You
When you reach sixty-five and begin your medical coverage with Medicare you will quickly find there is a lot more to it than you thought. You will want to look at all of the options that are available to you. This can be a daunting experience. There are a lot of options available but not all will be the right choice for you. One program that was introduced in 1997 is the Medicare advantage plan. This is also known as Medicare Part C. It will be up to you to pick a plan that will best suit your needs. You will want to carefully compare and contrast each program before making a final decision.
When you become eligible for Medicare the first decision you will have to make is whether to choose the original Medicare program or a Medicare advantage plan. One factor that may have a bearing on which plan you choose will be if having prescription drug coverage is important to you. If you are currently taking daily prescription drugs, the original Medicare may be the better choice for you. The original Medicare will cover some of the cost of prescription drugs under Part D of the program. The advantage plan does not cover the cost of prescription drugs without paying an additional premium for the additional coverage. The coverage that will provide the prescription drug coverage for the advantage plan is not Medigap insurance. Medigap insurance cannot be added to a Medicare advantage plan. Medigap plans can only be a supplement to the original Medicare coverage.
Another point to understand is that an advantage plan is not a supplemental plan. The advantage plans are written through private insurance companies that work with Medicare. In short if you should choose to enroll in an advantage plan your Medicare will be handled by a private insurance company but you will still be enrolled in Medicare. The suggested advantage is that you will not need a supplemental plan as you would with the original Medicare plan. In some cases the Medicare advantage plan is free for individuals that are sixty-five and older and are already enrolled in Medicare Part B. If the coverage is not for free it will likely be offered in a more affordable way to cover your medical costs.
Many seniors are on a fixed income and the cost of paying for medical coverage is a big issue. The advantage programs generally require a lower monthly premium than purchasing a supplemental plan. What you are agreeing to with the advantage plans is to use a set network of healthcare providers. If you are confused with the options that are available to you call 1-800-MEDIGAP. They will help you sort out the different coverages.
Advantages of MEDIGAP
Learning More About Medicare Insurance Supplements
Did you know that Medicare is available to you when you reach the age of 65 for your medical needs?
Unfortunately, on the other hand the bad news about this is that your Medicare insurance plan may not cover 100% of your health care costs. Although Medicare patients receive excellent treatment, you will still find that these treatments can be quite expensive. If you are in need of seeing a specialist, have to undergo surgery or go through a specific type of therapy, you may end up paying some enormous out of pocket expenses. In some cases, because of the cost of these services, many seniors choose to not have recommended treatments performed. Sometimes even life-saving treatments are not taken by many seniors because of money, simple as that. With the right Medicare insurance supplements in place, these elderly citizens would not have to sacrifice their well-being and lives.
There are many options to finding a Medicare insurance supplement plan that works for you. Medicaid is a state sponsored program in the business of assisting seniors with additional supplement support; however Medicaid is limited in its resources. Private insurance companies have taken over a majority of the supplemental health care needs. They offer competitively priced plans that will assist you in paying and offsetting all those un-covered health expenses that you have.
Medigap is a good place to start exploring your Medicare insurance supplement options that are available to you. It’s easier than you think to find a policy with affordable premiums that offers you the health protection you really need. You will find that prices vary with the Medicare insurance supplements from one provider to another and each plan is also different. Age, health status, geographic location and income may also alter the prices for individuals. It’s extremely important when deciding on a supplemental insurance plan that you talk to a knowledgeable professional who can clearly explain all your options and direct you to a plan that fits your lifestyle.
Whether you have one question or several questions about the way the supplemental programs work and cost, there are knowledgeable, professionals available that can help you narrow your choices down for you to make a choice from so that your chosen plan will give you the biggest bang for your buck. Medicare insurance supplements are an affordable way to maintain your health and vitality without worrying about how much your doctor’s visit will cost you or the costly expense of a surgical procedure. Pick up your phone and call 1-800-MEDIGAP (1-800-633-4427) to chat with a trained professional about the Medicare Insurance supplements plans. You will be happy you did because the information will help you decide which plan really is right for you and your needs.
Medicare Part D comparison
How Is Medicare Part D Going To Help Me?
Having a good Medicare Part D plan in place to help with your prescription costs is crucial now days. There is a definite financial burden that seniors endure when it comes to their medications. The need was there for seniors to have options when it came to paying for prescription medications that their co-pays and deductibles were not covering. Thankfully, the government put a large medication plan in place to help the millions of senior citizens across the country be able to take their medication without having to sacrifice their electric bills and groceries for the week; this plan is called Medicare Part D. At this present time, there are 10 standardized plans to choose from that offer varied options and benefit combinations to seniors.
However, the government does oversee the program so it has been able to grow independently and expand coverage options to seniors all across the US. Many people would be very sick or in quite a bit of pain without the Medicare Part D plans that they have. There are many providers out there offering Medicare Part D plans to those seniors that are already participants of Medicare Part A or Medicare Part B.
When you sit down to do your Medicare Part D comparison, keep in mind all of the medications that you currently take. In fact, it would be to your advantage to make a list with the names of all your current prescriptions and who wrote each prescription for when. Many people also do not take into account the other illnesses of which they are prone to get again. For example, a patient who has a history of getting bronchitis and walking pneumonia annually in the wintertime would be at an advantage when going through a Medicare Part D comparison to look for a plan that helps to cover those respiratory prescription drugs with bigger discounts than the other plans.
Take into account the following questions and considerations when deciding which plan will be the best while doing your Medicare Part D comparison:
• How much money is going to be out-of-pocket?
◦ premium costs
◦ cost of deductibles
• Are all of my drugs covered by the plan?
◦ Get the drug list from the plan details
◦ Find out if there are any stipulations that require pre-authorization or pre-approval for any medications
• Will the plan be convenient for you?
◦ make sure your pharmacy and Medicare work together
◦ Does the company cover mail order?
Pick up the phone and call 1-800-MEDIGAP to talk with someone about which plan will work best for you and your prescription needs. Your health, medical issues and medication needs are important and there are knowledgeable people available at 1-800-633-4427 to help you sort through any questions you may have about the Medicare Part D plans available to you.