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What Texas Medigap Insurance Policies are Available?

Monday, October 3rd, 2011

If you are 65, or about to turn 65, you’re probably already familiar with Medicare. Medicare is a federal health care plan designed to help people 65 and older pay for some of their health care costs. It was not designed to pay for all medical expenses and as a result, many people turn to Medicare supplement insurance or “Medigap” insurance to help pay for some of the costs that Medicare doesn’t pay for like deductibles, coinsurance and copayments.

Choosing a Medigap insurance policy can be confusing. Even if you have a reputable insurance provider, like United of Omaha, there are still several different plans to choose from, each with different benefits and costs. What Texas Medigap insurance policies are available and how do you know which one to choose? Take the time to learn a little about the available plans and make an informed decision when you are ready to purchase Medigap insurance in Texas.

Available Plans

In Texas, there are 10 Medigap insurance plans available, each designated by a different letter of the alphabet. By law, all Medicare supplement plans are standardized, meaning that a Plan F sold by United of Omaha for instance, must provide the same basic benefits as a Plan F from another company. Each plan has different coverage and costs. There is a high deductible option also available on the F Plan for pairing with health savings accounts and cost sharing options that help to reduce premium amounts.

Every Texas Medigap insurance policy offered includes the same basic benefits. This includes your entire coinsurance for Part B, three pints of blood, hospice coinsurance for outpatient drugs and inpatient respite care, all hospital charges up to 365 extra days past Medicare benefits, all copayment for hospitalization from the 61st day to the 90th day of any Medicare benefit period and Part A copayment for hospitalization beyond 90 days.

Some plans offer even more benefits. For instance, Plans B, C, D, F, G and N also pay your entire Part A deductible. Plans C and F pay the entire Part B deductible. Plans C, D, F, G, K, L, M and N pay for skilled nursing facility care, while Plans F and G pay for Medicare Part B excess doctor charges. C, D, F and G pay for foreign travel emergency care and Plan F also has the high deductible option available.

With an average monthly premium of somewhere around $120 a month for someone turning 65, the majority of Texans choose Plan F because it offers the most coverage, completely eliminating all deductibles, coinsurance and copayments. Texans who choose Plan F have peace of mind knowing that whatever comes their way, they are covered both medically and financially.

Medicare Select

Medicare Select is a type of Medicare supplement policy where it is possible to secure lower premiums by agreeing to use doctors and hospitals within the plan’s network. For instance, if you live in Harris County, you would need to see a doctor in the immediate area who is part of the plan’s network of providers. However, you are still able to choose your own doctor or specialist, as long as he or she is in the network. With a Medicare Select option, if you choose to use an out of network provider, you will have to pay more of the cost. Nevertheless, if you leave a Medicare Select option, insurance companies are required by law to offer you another Medicare supplement plan with comparable benefits.

Choosing a Texas Medigap insurance policy is easy as long as you understand a little about the available plans and how they work. While there are several insurance companies to choose from, make certain to purchase your Medigap insurance  from a dependable, reliable provider like United of Omaha and rest assured that you are securing the best coverage to suit your needs as well as your budget.

For more information on Texas Medigap Insurance policies or to see monthly rates in your area visit out Texas Medicare supplement insurance website .

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