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Posts Tagged ‘texas medicare supplement insurance plans’

Texas Medicare Supplement Insurance Plans Offer More Security than Advantage Plans

Tuesday, November 29th, 2011

If you’re 65 or about to turn 65, you’re eligible for Texas Medicare. That’s great news and Medicare helps to pay for a significant amount of your health care costs. However, it doesn’t pay for it all. You know that to get the coverage you need, you’ll have to purchase additional insurance to supplement your Original Medicare coverage.

Basically, there are two options for supplementing Original Medicare. You can purchase Medicare Supplement insurance (Medigap insurance) or you can purchase a Medicare Advantage plan. While there are benefits and disadvantages to both, if security is a main concern, a Texas Medicare Supplement insurance plan offers more security than advantage plans.

Security You Can Depend on

What does it mean to be secure? For most people, security means safety and reassurance that they’re covered in the event that they need protection. Security with health care coverage is no different. Basically, we want security in knowing that if we need medical care, it’s available and we can afford it. Texas Medicare Supplement insurance offers security with health care.

Standardized Plans

In Texas, there are ten Medigap plans available, identified by the letters A through N.  While each letter offers a different combination of benefits, all plans are standardized meaning that a plan F sold by a company in Dallas must offer the same benefits as a plan F from a company in Tyler. This is true whether you live in Midland, Dallas or anywhere else. A Medigap policy of a certain letter is the same anywhere in the state. Medicare Advantage, or Part C, is an alternative to Medigap insurance, but the coverage is not standardized. In fact, after providing Parts A and B, every Medicare Advantage plan is different.

Out-of-Pocket Expenses

Many people don’t like the idea of assuming any out-of-pocket expenses for health insurance costs.  Medicare Supplement insurance can pay 100% of the costs in exchange for a monthly premium. Basically, that’s no deductibles, no coinsurance and no copayments. On the other hand, with a Medicare Advantage plan, you will pay your Medicare Part B premium and also your monthly premium for your Medicare Advantage plan, plus any other out-of-pocket expenses including deductibles, copayments and coinsurance.

Guaranteed Renewable

All Medigap plans are guaranteed renewable. Basically, that means that as long as you pay your premium on time, an insurance company cannot cancel or refuse to renew your policy regardless of your health. The same cannot be said for Medicare Advantage as specific plans and benefits may change from year to year. Plus, if for some reason your Advantage plan discontinues, you will have to find another plan or return to Original Medicare.

Health Care Provider Choices

With a Medigap policy, you have access to a large network of health care providers and hospitals. In fact, you can see any doctor you wish and you never need a referral to see a specialist. With Medicare Advantage, your health care choices are restricted. You must live in a plan area and in many cases, your choice of doctors and hospitals is limited.

Both Medicare Supplement insurance and Medicare Advantage are offered through private insurance companies to provide additional coverage to Original Medicare. However, with standardized coverage, renewability and a large network of health care providers, Medicare Supplement insurance offers more security than a Medicare Advantage plan. Remember, while insurance providers must offer the same standardized plans, they vary considerably in terms of cost, dependability and reliability. Choose only credible companies like Blue Cross Blue Shield of Texas, a company who has been providing Medicare Supplement insurance to Texans just like you for decades.

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After a Rate Increase Can I Change Texas Medicare Supplement Insurance plans?

Thursday, September 29th, 2011

Medicare supplement insurance helps take some of the financial burden off your shoulders for your health care costs. It is an important part of your health care strategy and you don’t want to risk going without it. However, if your Medicare supplement insurance plan has issued a rate increase, you may be interested in changing plans. Learning a little about your rights and responsibilities will help you when and if you decide to change Texas Medicare supplement insurance.

Standardized Coverage

All Medicare supplement insurance is standardized, meaning that a Plan F from Blue Cross Blue Shield of Texas must offer the same basic benefits as a Plan F from United Health Care. Regardless of which provider you choose, you can buy a Medicare supplement insurance plan to help pay for some of the health care costs that Medicare doesn’t pay. Basically, out-of-pocket expenses like deductibles, coinsurance, and copayments can be covered with a Medigap policy.  

Guaranteed Renewability does not Mean Guaranteed Premium Rate

In Texas, Medicare supplement insurance plans are sold by private insurance companies that are licensed and regulated by the Texas Department of Insurance (TDI). All of these policies are automatically renewed each year. This means that a company cannot cancel your policy or refuse to renew it unless you made intentional false statements on your application or you failed to pay your premium. However, your premium is not guaranteed and your insurance company can raise your premium every year. Rate increases have nothing to do with where you live. Whether you live in Comal County or Dallas County, your premium may go up.

Switching Medicare Supplement Insurance

In most cases, you don’t have the right under federal law to switch Medicare supplement insurance unless you’re within some type of enrollment period or have a guaranteed issue right. However, if you choose to switch policies, make certain to compare benefits and premiums before switching. Particularly if you purchased your Medicare supplement insurance before 2010, as a new plan may not be required to offer the same benefits. Nevertheless, Medicare supplement insurance purchased before 1992 may have bigger premium increases than newer, standardized policies. 

Use your 30-Day “Free Look” and Exercise Caution

Don’t cancel your old insurance until you are certain that you are going to stay with the new insurance. You have thirty days to decide if you’re going to keep the new policy. This is called your 30-day free look. However, keep in mind; you will most likely have to pay both premiums for one month.

If you are switching from Plan F from one company to Plan F from another chances are everything should be fine since they both will deliver the exact same benefits. With this situation there should be no reason to hang on to 2 policies, cancel the old plan upon approval of the new one.

It’s possible to return your Texas Medicare supplement insurance plan within 30 days to get your money back with no questions asked. However, be sure to exercise caution and keep good records. For instance, if you return a policy to United Health Care, use certified mail and hang on to your receipt.  Remember, the 30-day “free look” period doesn’t apply to Medicare Advantage. If you cancel your Medigap policy to join a Medicare Advantage plan, there is always the possibility that you will not be able to get your old policy back.

 

Open Enrollment

Everyone who is enrolled in Medicare is eligible to join a Medicare supplement plan during what is called “initial open enrollment”. Basically, this is the six-month period when every private insurance company must sell you any of the Medicare supplement insurance plans they offer.  Your initial open enrollment begins when you enroll in Part B.

You can use your open enrollment rights more than once during this six-month period. This is useful if you want to change your mind about a particular policy and buy another. Plus, you are still entitled to an open enrollment period even if you wait for several years after you turn 65 to enroll in Medicare Part B.

There are some valid reasons why you may be interested in changing your Texas Medicare supplement insurance plan. You may be paying for benefits you don’t need or maybe you want to change companies. While it is within your right to do so, exercise caution and remember to keep your old Texas Medicare supplement insurance plan until your 30 day free look period ends.

For more information on comparing rates on Texas Medicare Supplement Insurance Plans visit our website on Texas Medicare Supplements  .

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Texas Medigap Plan F – Adding Benefits to Medicare

Saturday, January 22nd, 2011

For those who are on Medicare, the recent changes to the way Medicare supplemental health insurance is handled have been quite beneficial. They have made it much easier for a person to obtain a supplemental policy, and be assured that it will do what they are told it will do. For instance, when one buys a Texas Medigap Plan F policy, they now have the assurance that it will actually cover 100% of the charges that are made to them from a doctor who does not accept Medicare assignment.

This is a tremendous change from the way that some insurance companies operated in the past. In the past, some unethical insurance sales people would make promises to their customers of things that a plan could not actually do. This made it very upsetting to many who purchased plans that did not perform as promised. Now with the regulations that have been imposed by Federal and State Laws, when someone purchases a plan like Texas Medigap Plan F or Texas Medigap Plan N, they get exactly what was promised.

There are several types of plans that one can purchase to supplement their Medicare insurance. From A to N, but one of the most popular is Texas Medicare Supplement Insurance Plans is F. This plan not only will add nursing care benefits, but it also covers the cost of deductibles that Medicare Part B imposes. In addition, it also adds emergency care for those who travel outside of the United States and it covers charges from doctors who do not take Medicare.

For those elderly and disabled individuals who must rely on Medicare insurance to cover their numerous medical expenses, these changes can dramatically impact their everyday life. All of the various plans such as Texas Medigap Plan F offer some kind of benefit to the way their benefits are handled. This generally can result in a savings in out of pocket expenses to those who are being covered. Since many of the people who are using Medicare are on fixed incomes this can be a very big factor in the quality of their life. Savings of any kind can be a tremendous help to someone who is ill or is dealing with some type of disease. With all that they must deal with because of their health issues, the last thing they want to worry with is how to pay for their medical treatments. With supplemental insurances, this stress can be eliminated.

There are 11 modernized plans available to those on Medicare and keep in mind that Plan F is just one of them however it is the most popular and most requested but there are other options. Before you lock in to this plan as the perfect plan for you I suggest you speak with a trusted independent broker to assist you in deciding if this plan is the correct option. It does offer the most security but doing a premium cost analysis would always be a good idea to insure you have the correct coverage, it is also a good idea to review you coverage options every year to guarantee you have the best policy at the best price.

For more information about Texas Medigap plan F visit www.medicareinsurancetexas.com

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Texas Medicare Supplement Insurance Plans – Explaining Your Options

Friday, December 31st, 2010

There are ten standard Texas Medicare Supplement Insurance Plans.  These plans are utilized in addition to standard Medicare to provide you with better coverage.  Plans K, L, and M have a cost-sharing element and Plans F, K, and L have a high-deductible option to decrease your monthly premium.  While Medicare supplement plans are sold by private companies, they are regulated by the federal government.  Therefore, no matter where you buy your Plan, you will receive the same benefits. 

What are My Medigap Options?

Plan A offers you only the most basic benefits of all Texas Medicare supplement insurance plans.  The benefits offered cover copayments and other costs above and beyond what standard Medicare covers. 

Plan B pays the $1,132 deductible required in the year 2011.  This is the deductible required to receive benefits under Medicare Part A (not to be confused with Plan A supplementary insurance). 

Plan C adds benefits for nursing facility care.  It covers your coinsurance requirement from the 21st day in the nursing home until the 100th day.  It also covers the cost of the Medicare Part B deductible.  Emergency care outside of the United States is offered with this plan as well. 

Plan D does not cover the cost of the Part B deductible, but it offers everything else covered in Plan C plus at-home recovery.  

Plan F is the most popular of all Texas Medicare supplement insurance plans.  It covers everything that Plan C covers, but it adds a benefit for excess charges from Medicare Part B.  100% of the charges made to you from a doctor that does not accept Medicare Assignment will be covered by this plan. 

Plan G offers everything that Plan F does except it will not cover the cost of the Medicare Part B deductible. 

Plan K does not cover 100% like other plans.  Instead, it covers 50% of basic benefits, skilled nursing facility care, and the Part A deductible.  There is an out-of-pocket limit of $4,620 (2010).  Once this amount is reached, the insurance pays 100% of all these parts. 

Plan L is like Plan K, but it covers 75% and there is an out-of-pocket limit of $2,310 (2010). 

Plan M covers basic benefits, 50% of the Part A deductible, nursing home costs, and foreign travel emergencies. 

Plan N is the last of the Texas Medicare supplement insurance plans you can choose from.  It covers what Plan M does, plus co-pays of $20 for doctor visits and $50 co-pays for ER visits are required to be covered by the policy. 

Will I be Working With a Big Name Company?

These exciting plan designs, which are approved by congress, are offered by several big name companies. United Healthcare Texas Medicare Supplement Insurance Plans are one company that offers these plans under the AARP endorsement, but that’s not all, Blue Cross Blue Shield of Texas as well as other strong companies like United of Omaha and Gerber compete for this line of business. United of Omaha is a division of Mutual of Omaha. 

Regardless of which plan you feel is right for you we always advise that you speak with a qualified independent broker in order to have a clear understanding of both underwriting and policy service. We have been advising consumers looking for Texas Medicare Supplement Insurance Plans since 1993. Feel free to access an instant quote from our website or call us direct anytime to get accurate information about your plan options today.

For more information about Texas medicare supplement insurance plans visit www.MedicareInsuranceTexas.com

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Texas Medicare Part B – Frequently Asked Questions

Sunday, December 26th, 2010

What is Texas Medicare Part B?  Health insurance is a confusing topic, particularly once you leave what you have known
your whole life and become eligible for Medicare when you turn 65.  You will certainly want to take advantage of the coverage that awaits you, but you must first understand what it is.  In most cases, if you decide to enroll in Medicare Part A, you will also need to enroll in Part B.  This is the portion of your insurance that covers medical expenses, as opposed to hospital coverage which is provided by Part A.  These include doctor visits, home health service, outpatient care, and other similar services. 

What is the cost of Texas Medicare Part B?  You will pay a premium each month to maintain your coverage.  Most people pay a standard amount, but if you have a modified adjusted gross income that is above a certain amount, you may be required to pay more.  At least, the way this system is set up, you will be able to afford more.  If you must pay more than the standard premium, you will be notified by Social Security.  If you decide not to enroll in Part B when you become eligible, you may be subject to a late enrollment fee if you change your mind later. 

How do I qualify for Texas Medicare Part B?  If you receive Social Security benefits, you will automatically receive Part B on the first day of the month you turn 65.  (If your birthday is on the first, you will get it the first day of the previous month.)  You might be under 65 but disabled.  If you receive disability benefits, you will get Part B.  You will receive your Medicare card three months before you turn 65 or within the 25th month of your disabled state.  If you have permanent kidney failure, you will also qualify for Part B no matter how old you are. 

What kinds of services does Texas Medicare Part B cover?  There are two main coverage areas.  The first is medical services.  These must be necessary for the diagnosis or treatment of your medical condition rather than something experimental that does not meet medical practice standards.  The second part is preventative services.  Any efforts that can be made to prevent illness or stop it in its tracks will be covered by Part B.  There are exceptions, and the Medicare handbook can help clarify any questions. 

After a consumer has qualified for this type of coverage it is a wise idea to secure a Texas Medicare Supplement Insurance Plan offered from any number of providers in our state. You can either go online to find your options or contact any experienced independent broker to discuss your available selections.

To learn more about Texas medicare part B or other medicare eligibilty matters visit www.MedicareInsuranceTexas.com

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