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Posts Tagged ‘medicare supplement in texas’

Is it Cheaper to Have an Advantage Plan Instead of a Medicare Supplement in Texas?

Thursday, November 24th, 2011

In Texas, if you’re 65 or older, you’re eligible for Medicare and that helps considerably. However, Medicare doesn’t pay for all of your medical expenses and more than likely you’re going to have supplement your coverage with additional insurance. You can purchase a Medicare Advantage plan which provides all of your Medicare Parts A and B and sometimes prescription drug coverage or you can supplement Original Medicare with Medicare Supplement Insurance.

You may have heard a few things about both options and now you’re wondering if it’s cheaper to have an Advantage plan instead of a Medicare Supplement? Typically, the answer is no, but choosing between the two requires looking at a variety of different factors. Nevertheless, if you’re like most Texans, cost is a main concern. Learn more about Medicare Supplement insurance and Medicare Advantage and make the right choice.

What you’re Really Paying For

Medicare

With Medicare, Part A is free for most people, but most pay a premium for Part B. In addition, there are other out-of pocket expenses including deductibles, copayments and coinsurance. In some cases, there are even excess charges if your provider charges more than the approved Medicare amount for a particular service. Original Medicare does not cover prescription drugs and if you want that coverage, you must purchase it separately through a Medicare Prescription Drug Plan.

Medicare Advantage

If you choose to purchase a Medicare Advantage plan, you are opting to get your Medicare benefits through your Advantage plan rather than through Medicare directly. All Advantage plans are required to provide at least the same coverage provided by Part A and B and most offer prescription drug coverage. However, it’s not required that they provide anything more than the basic coverage and benefits vary considerably. More than likely you’re going to have a premium and you are still responsible for any deductibles, copayments and coinsurance.

Medicare Supplement Insurance

If you choose to purchase a Medicare supplement plan, you will have a monthly premium in addition to your Part B Premium, but you can avoid most or all out-of-pocket expenses. In Texas, there are ten Medigap plans to choose from, each with different combinations of benefits. Plan F completely eliminates all of your deductibles, copayments and coinsurance. So while you may be paying more monthly, you won’t owe a cent whenever you receive treatment.

There are other factors to consider. It’s important to compare benefits when comparing premium rates between the two options.  For instance, the premium for Medicare Advantage may be lower than for a Medigap plan, but when prescription drug coverage is added, the premium rate may increase considerably. In addition, with Medicare Advantage, it’s likely that your premium will rise over time. Medigap plans have locked premiums, meaning that they will not increase. Finally, because Medigap plans are guaranteed renewable, you don’t have to worry that your plan will be canceled, even if your health deteriorates. The same is not true with a Medicare Advantage plan. In fact, if your plan discontinues, you will be faced with finding a new plan in your coverage area, or going back to Original Medicare. 

The bottom Line? Many Texans just like you are choosing Medicare Supplement insurance simply because they aren’t willing to pay any out-of-pocket expenses for health care. Depending on how frequently you need to see a doctor or how often you might owe a copay, Texas Medicare supplement insurance is a good choice. Also, most seniors are not comfortable choosing doctors and providers from a network that may or may not have or continue to have their trusted care giver. Consider your options and always choose a reputable, credible provider like Blue Cross Blue Shield of Texas for your insurance. Get Medicare Supplement insurance and get peace of mind that comes from knowing you’re covered completely. 

For a more detailed comparison of Medicare Advantage plans VS. Medicare Supplement in Texas visit our website.

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Medicare Supplement Texas – Understanding the Differences in Medicare Supplement in Texas

Monday, February 14th, 2011

If you are looking for a Medicare supplement in Texas, you need to understand the differences between policies. The first thing you need to understand is that the various Medigap policies are all the same if they have the same letter designation. So a Medicare supplement Plan A at one company is the exact same policy as a Plan A of another company. The only difference is the price you end up paying. Now, Plan A supplement insurance is not the same as Medicare Part A. To understand all the differences between the supplement policies, you need to start with the basics.

The basic Medicare supplement or Texas MediGap insurance policy is Plan A. Plan A covers all the basics required by the federal government in Medigap plans. It covers coinsurance for hospital stays between 61 and 150 days. It provides 365 additional days of hospital coverage over the 150 covered by Medicare. It handles 20% of doctors’ bills and 50% of mental health services. It has to cover the first three pints of blood as well. All other supplement plans have this basic coverage included. The other policies add additional benefits for covered individuals.

Medicare supplement Plan B provides coverage for the Medicare Part A deductible in addition to the basic requirements in Plan A. Medicare Supplement Plan C builds on the coverage of Plan B. In addition to the Part A deductible, Plan C covers skilled nursing home costs for 21 to 100 days, the Medicare Part B deductible, and coverage for up to 80% of emergency medical expenses in a foreign country. Plan D is a bit different from Plan C. It covers basic benefits as well as Part A deductible, foreign travel emergency coverage, and skilled nursing home care. In addition, it also covers at home recovery costs. As you can see, evaluating a Medicare supplement in Texas requires knowledge.

In addition to those supplements, there are also Medicare Supplement Plans F, G, K, L, M, and N to consider. Each of these plans provides other combinations of coverage for things such as Part B excess charges and other out of pocket expense limits. Some come with co-payments required for certain medical services. None of these plans helps offset the cost of prescription drugs. There are other plans called Part D for your drug coverage.

Another way to keep things straight is this: Texas Medicare Supplement plans will be called “Plan” and your coverage provided by the federal government is called “Part” like Part A, B, or D. This confusing information is explained in greater detail by reviewing Texas Medicare Eligibility information found all over the internet.

Look, we deal with this stuff all day and are used to all the confusing little letters the government uses for that reason you need the help of a good insurance agent when consider a Medicare supplement in Texas. With so many options, it can be very confusing. It can also cost you more money than necessary if you make the wrong choice and sometimes those choices are with you until you no longer need Medicare and in that case you won’t be around to discuss them.

For more information or to get a Medicare supplement in Texas quote visit www.MedicareInsuranceTexas.com today!

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Medicare in Texas – Three Areas of Coverage

Monday, December 27th, 2010

Medicare is health insurance for senior citizens age 65 and up.  Disabled individuals may also be eligible to receive coverage from Medicare in Texas if they are under the age of 65.  Also, anyone with End-Stage Renal Disease, also known as permanent kidney failure that either requires a kidney transplant or dialysis, no matter their age can be granted Medicare coverage.  There are three parts to Medicare that provide you coverage in important categories.  These areas are covered before you obtain any kind of supplementary coverage.

First is called Medicare Part A, which is hospital insurance.  This covers many different areas of care.  Inpatient care taking place in a hospital is the first form of coverage under Part A.  This includes long-term care, rehabilitation, and critical access.  The second area that Part A covers is inpatient care taking place in a nursing home or similar facility.  It does not include long-term care.  Also, general hospice care services and home healthcare services are covered under Medicare in Texas Part A.  If you want to receive your care in a Religious Healthcare Institution that is nonmedical, you will also receive financial coverage through this portion of Medicare.

In most cases, if you have Part A Medicare in Texas coverage, you must also have Part B, which is medical insurance.  You will need to pay monthly premiums on Part B.  This portion of Medicare is for the purpose of helping you pay for other medical necessities like doctor visits, home health services, and outpatient care.  Also, some services offered for preventative care are covered under Part B.  The premium you will pay each month to have Part B is typically a standard premium paid by nearly all citizens with Medicare.  There will be a deductible amount you must meet.  After that, 80% of services are covered.  Copayments typically apply.

The final part of Medicare in Texas is Part D.  This offers you coverage to help pay for prescription drugs.  Even if you take a small amount of prescription drugs now, it may be wise to sign up when you first become eligible for Medicare so you have coverage in the future.  Otherwise, you could be subject to a late enrollment fee.  There are different Part D plans to choose from that vary in cost and coverage depending on the drugs you require.  With these different kinds of coverage, you will find it easier to pay for your medical bills.

Now that you know what is provided when you turn age 65 lest talk about what is needed. Most seniors purchase on the open market a Medicare Supplement in Texas, these plans are offered by many major well known companies like Mutual of Omaha or Blue Cross Blue Shield of Texas. There is a premium associated with these plans however their purpose it to fill in the holes that a Medicare Health Plans in Texas has like deductibles and co insurance amounts. Some seniors elect to enroll in a Medicare Advantage Plan in Texas. These plans have limits regarding your doctor and hospital selections and also can have higher client out of pocket amounts in most cases.

Regardless of which route you go, either the traditional supplemental way or the advantage plan, the key is to have some sort of assistance to help with the things Medicare does not pay. We advise speaking with a qualified independent broker to discuss which option best fits your lifestyle and budget.

To learn more about medicare in Texas visit www.MedicareInsuranceTexas.com

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Texas Medicare Supplement – Protecting Your Finances

Monday, December 6th, 2010

With the exception of Wisconsin, Minnesota, and Massachusetts all Medicare supplement insurance policies are required to be one of the 11 different insurance plans that have been modernized across the country. The benefits in any of the plans are exactly the same throughout the nation and between insurance providers. Despite the required similarities between Texas Medicare supplement insurance plans, the prices will vary quite a bit among providers. This makes the importance of researching the different plans all the more vital for anyone on a tight budget. Since the vast majority of individuals on Medicare will have a restricted income due to a disability or will be living on a fixed income, saving money is paramount.

Some individuals, especially those new to Medicare, may not understand the need for Texas Medicare supplement insurance. They may mistakenly believe that Medicare can fully replace whatever previous health insurance they may have had through their employer or from a privately purchased policy. The unfortunate truth is that there are some pretty significant gaps in Medicare coverage. For instance, Medicare does not cover vision care, hearing care, or dental care. These are all things that a typical Medicare customer will likely be very interested in receiving.

Medicare is also somewhat lacking when it comes to other health care services. The coverage Medicare provides for individual who spends up to 60 days in a hospital is quite comprehensive. If that individual state goes beyond that Medicare coverage will significantly decrease fairly rapidly. After 150 days in the hospital an individual will be responsible for the entirety of the bill. Medicare also does not provide adequate coverage for long-term care. Medicare coverage can also be somewhat hit or miss when it comes to prescription drug benefits. All of these reasons make it necessary to check out Texas Medicare supplement.

While Medicare has proven to be extremely beneficial financially for scores of individuals over the years, the costs can add up quickly when it comes to the things that Medicare does not cover. The gaps in coverage can prove calamitous financially for anyone that is not taking the proper precautions to safeguard themselves and their finances from the rapidly rising cost of healthcare. Texas Medicare supplement insurance provides the perfect buffer zone between an individual with Medicare and the gaps in coverage that are an unfortunate side effect of Medicare. Since the premiums on supplemental insurance policies vary a great deal among providers it is always a good idea to get multiple quotes before deciding on a policy.

To view more Texas medicare supplement information visit www.MedicareInsuranceTexas.com

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Texas Medicare Gap Insurance Quote – Understanding the Need

Monday, December 6th, 2010

Contrary to what many people believe, Medicare does not cover all medical needs 100%. There are often times gaps which require an individual to purchase supplemental insurance. Medicare will cover most hospital bills from participating providers up to around 80%. The other 20% becomes the responsibility of the individual. A person interested in coverage for dental, hearing and vision will also find that Medicare does not provide the necessary coverage. Routine checkups and many prescription medications are also not covered. Long-term care is also not included in Medicare coverage. Because of the massive amount of things not covered by Medicare, getting a Texas Medicare gap insurance quote is the first step to comprehensive health insurance.

The previous information may make it seem as though Medicare is less of a safety net than originally believed. Medicare can be a vital safeguard what it comes to an individual’s financial well-being, but the products and services that it does not cover can quickly become overly burdensome for individuals without supplemental insurance. Texas Medicare Insurance is provided for eligible individuals over 65 years of age, or for people that are disabled. Medicare Part A and Part B are different from Plan A and Plan B supplemental insurance.

When getting a Texas Medicare gap insurance quotes it is important to understand what is covered by Medicare Part A and Part B. Part A generally covers hospital bills. Part B is intended to write coverage for doctor’s fees, diagnostics, necessary medical equipment, some types of rehabilitation and outpatient care. Supplemental insurance is important because once the coverage provided by Medicare ends, an individual is responsible for the rest of the bill. Not all doctors participate in the Medicare plan and a doctor may charge as much as 15% more than the amount approved by Medicare.

While most supplemental insurance plans are the same in each state, the cost to purchase such coverage can vary a great deal between providers. Getting a Texas Medicare gap insurance quote is the smart thing to do with considering your financial future. Individuals that rely on Medicare and nothing else for their health insurance needs often find that when the unthinkable happens they are simply unable to pay all of the necessary costs for their health care. In this case it is always better to be proactive rather than reactive when it comes to planning ahead and getting the right insurance at the right price.

For more information or to get a  texas medigap insurance quote visit www.MedicareInsuranceTexas.com

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