You’re not alone if you’re having difficulty understanding the various terms related to your health care coverage. Medicare, Medigap, Medicare supplement- there’s a term for this and a term for that. Where do you begin? Most people have no idea what these words mean and more importantly, how they affect their health care coverage.
You don’t have to be out in the dark. Take the time to read a little about Texas Medigap insurance and within a few minutes time, be better prepared to make health care choices that are right for you.
What is a Medigap Insurance Plan?
A Medigap policy (also called Medicare Supplement Insurance) is private health insurance created to supplement Original Medicare. Basically, it’s insurance that helps pay for some of the “gaps” in coverage that Medicare doesn’t pay for. These gaps can include deductibles, coinsurance and copayments. If you purchase a Medigap insurance policy, when you seek medical care, Medicare will pay for its portion of covered costs and then your Medigap policy will pay for its covered portion. With all Medigap insurance you have the freedom to choose your own doctor and specialists.
A Medigap policy is different from a Medicare Advantage plan because Medigap only supplements Original Medicare, while a Medicare Advantage plan actually provides Medicare benefits. By law, all Medigap policies are standardized and designated by the letters A through N. Standardized means that a Plan F offered by one insurance company must provide the same basic benefits as a Plan F offered by another company. This makes comparing Medigap policies easy as the real differences between insurance companies is seen through cost, reputation, quality of service and dependability.
Medicare Select
Medicare Select is a type of Medicare supplement insurance that offers reduced premiums in exchange for choosing doctors and providers from the plan’s network. With Medicare select, you still have the freedom to choose your own doctor or hospital as long as they are included in the network.
Choosing a Texas Medigap Insurance Plan
In Texas, there are 10 Medigap Plans available, each with different levels of coverage and premium amounts. While all plans offer the same basic benefits, there are sharp differences between plans in terms of additional coverage and even foreign travel. Plan F is by far the most popular plan among seniors in Texas because it completely eliminates all out-of-pocket expenses, meaning no deductibles, coinsurance or copayments. Texans who choose plan F have peace of mind in knowing that they are covered both medically and financially.
You must have Medicare Parts A and B to purchase a Texas Medigap policy. However, once you buy it, your policy is guaranteed renewable, meaning that your insurance company cannot cancel your policy even if you have health problems as long as you pay the premium as agreed. Remember, you will owe a monthly premium for both your Medigap policy as well as the Part B premium you pay to Medicare.
You can purchase a Medigap policy from any private insurer in the state that sells these plans, however be smart when you choose your provider and always look for well-known credible companies. Blue Cross Blue Shield of Texas has been providing Medicare supplement insurance to Texans just like you for over 65 years. They have worked hard to earn a reputation for dependability and reliability that Texans have come to trust.
Learning a little about Texas Medigap Insurance will help you understand your health care coverage better. Once you are familiar with the terms and a little about what they mean, you will be better prepared to make informed decisions when it comes to your health care coverage.
For more information or t obtain a free, instant Blue Cross Blue Shield of Texas Medicare supplement quote or prices and information from other Texas Medigap Insurance Plans please visit our website.