Have you just enrolled in Medicare? You may soon find out that not all costs are covered in the plan. Instead, you would be responsible for the costs not covered by the plan.

A Medigap plan is the perfect supplement for Medicare. In fact, you must have chosen original Medicare (parts A and B) to qualify to apply for a Medigap plan. Medigap (Medicare supplemental plan) plan fills some of the “gaps” and costs not covered by Medicare.

Medigap – The Choices

10 Medigap plans have been designed and they are identified by letters: A, B, C, D, F, G, K, L, M, or N. The letters are in no way a determining factor for how these plans function. However, plans A, B, K, L, M, and N have basically similar benefits while plans C, D, F, and G have same basic structures. You can find the unique benefits of these plans when you visit medicare.gov.

Who qualifies for a Medigap Plan?

Although you must have an original Medicare plan to be eligible for Medigap, not everyone is eligible. Individuals less than age 65 are not eligible in most states. A Medigap plan is a personal plan. For example, if you have purchased the plan because you are qualified, and you have a spouse that also qualifies, he or she must purchase a separate policy from yours.

Choosing a Medigap Plan

Medigap plans are regulated by state and federal laws. Generally, all plans with the same letters have the same basic benefits. However, states such as Wisconsin, Minnesota, and Massachusetts have policies that regulate the plans differently. Before you decide on the best Medigap plan, there are a few important factors you must consider.

What you can afford

Considering what you can afford means you would have to review the costs involved in the plan including coinsurance, deductible, and copayments. These plans should be reviewed in terms of the medical services you would most likely need and your budget. Most policies have low premiums with higher copayments or higher premiums with less expensive copayments. In reviewing the plans, you would be able to determine the best plan for your budget.

How much Coverage you need

Does your condition require regular medical care? Are you currently taking any management drugs? Did your healthcare provider recommend a treatment plan you must stick to for the next few months? Keeping all these in mind will help you choose a plan.

Provider’s policy

Medigap plan providers could charge based on two policies:

Community-rated policies: This policy costs every member of the group – referred to as community – the same amount regardless of the age of a member.

Issue-age rated policies: This policy is priced according to the age of the placer holder at the time of purchase. This policy does not increase over time as the individual ages.

Attained-age rated policies: This policy is priced according to the age of the policy holder at the time of purchase and could increase as the individual ages.

Choosing a Medigap plan is a complex endeavor that demands valuable amount of time, so you do not make mistakes. Ensure you are aware of the laws of your locality, stick to them, consider your medical needs, and consider your budget before you choose a plan.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Medigap policies are health insurance plans that are designated by the federal government.  This policies help to supplement Original Medicare Plan A and Plan B.  Medigap policies are different than Medicare Advantage as it covers most of the costs originally covered by Medicare plans.  These payments include paying some of the health care costs that normal Medicare plans fail to cover such as copayments, coinsurance, and deductibles.

Medicare is a health insurance policy for people over 65.  It also includes options for people under 65 with certain disabilities and people of any age with ESRD, a permanent kidney failure requiring dialysis or a kidney transplant.

Diverse Medigap Plans To Choose

The different parts of Medicare help cover specific services.  There are a whole lot of Medigap plans available across all the states in US lettered A, B, C, D, F, G, K, L, M, N, and an high-deductible version of plan F. All these Medigap plans actually cover at least part of these costs:

• Medicare Part A Hospice Coinsurance or Copayments
• Medicare Plan B Coinsurance or Copayments
• The First 3 Pints of Blood Received as a Hospital Inpatient

It is important to note that Medigap part A is the most basic plan because it only covers these benefits.

Of all the available Medigap insurance plans, the most widely chosen is Medigap plan F.  In 2018, there are a good number of people who have begun to rapidly understand the benefits of choosing Medigap plan G due to its added benefits. You can check the 2018 Medigap plans and choose the one that best fits your needs.

Understanding Medigap Plan G

Medicare supplement plan G, Medigap plan G, is a standardized Medicare supplement plan that can be purchased in most states in the United States to help close financial gaps for those things that original Medicare would not fully cover.

Medigap plan G for 2018 works with Medicare Part A by paying for all of the costs in Medicare part A and these include:

• Coinsurance for Hospital Stays
• Coinsurance for Skilled Nursing Facility Stay
• Copayments or Coinsurance for Hospice Care
• Medicare Part A Deductibles

Medicare Supplement Plan G also works with Medicare Part B by also paying the costs in part B and these include:

• Charges Over the Amount Medicare Allows
• Foreign Travel Urgent Care
• Medicare Part B Usually Co-Pays and Coinsurance Every Year
• Medicare Recipients Have to Pay An Annual Deductible before Medicare Part B Pays Medical Services

Be Aware Of The Medigaps Coverage

It is also important to understand that Medigap plan G doesn’t pay for everything. Just like most Medigap plans, it doesn’t cover: long-term care, vision or dental care, hearing aids, eyeglasses, and private-duty nursing.

Hence, it is expedient to understand exactly what you want and check Medigap plan to see and understand the one suitable for you.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Medigap is an extra medical insurance plan that you purchase from a private company to pay for costs not originally covered by Original Medicare such as deductibles, copayments, and medical care when you travel outside the United States. However, Medigap policies do not cover long term medical care, hearing aids, dental care, eyeglasses, vision care, private duty nursing, and most plans do not also cover prescription drug benefits. If you are a regular user of the healthcare system, it would be ideal to buy a Medigap plan as it would save you costs in the long run.

Be Educated On All Medigap Plans

Before choosing the right Medigap plan, you must be well informed about your choices. 10 Medigap benefits (A, B, C, D, F, G, K, L, M, and N) have been designed by the government with each varying slightly in their coverage. You can make Medigap comparisons using medicare.gov. There you would find all the details you need in a single chart. Your choice of Medigap policy should not be affected by the alphabet designations as government regulations ensure there is a standard design for any plan despite the insurer covering it.

Items To Look For In Medigap Coverage

So what are the differences among the Medigap Policies? How do they compare? While some cover more costs, others are high deductible, and still others demand higher cost sharing. To decide on the best Medigap policy for you, you must weigh your options so you can look out for the plan that best fits your needs and one that you can reasonably afford. It would be ideal to focus on a plan that covers more big-ticket items. These items include:

• Covering the coinsurance of your hospital stays or stays in a specialized nursing facility after a hospital stay
• 20% of your share of doctor visit costs
• 20% of your share of costs involved in lab tests
• The deductible involved any time you are admitted into a hospital.

There are other items covered under the different plans you must consider before making your choice. Medigap Plan F is more popular today as it is considered the most comprehensive plan. However, Plan F has two plans – with one having a high deductible. So it is important to consider each option carefully before making a decision.

Pricing System Of A Medigap Plan

Remember that prescription drug benefits are not covered under Medigap policies. Also worthy of note is the pricing system. There are three pricing systems which determining the cost of a Medigap plan. They include:

Issue-age Rated – This plan is based on the age of the individual when the first plan is bought. The younger the individual is, the lower the initial premium. Any increment in premium charges in future will not be as a result of advancing age.

Community Rated – This pricing system does not consider the age of an individual.

Attained-age Rated – Although this premium is initially based on an individual’s age, it could increase as the person gets older.

Finally, before you sign any agreements with a company and agent selling a Medigap policy, ensure you contact the local insurance department of your state to ensure the company is licensed and they have a clean complaint record. Also note that changing a Medigap policy can be a really daunting task. Consider your options very carefully and ensure it does not only cover your current needs, but even your potential future needs.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

You are on the right track if you understand that with Medigap insurance plans you are required to pay a monthly premium rate for a policy.  These policies help you pay for certain health care costs that are not covered by the Original Medicare Part A and Part B such as health care if you travel overseas, co-payments, and deductibles. You also cannot buy a Medigap insurance plan if you are under the age of 65 or if you already have Medicare Part A and Part B, which essentially cover hospital services and the cost for doctor services.

Why Choose a Medigap Policy

Additionally, Medicare policies do not cover private duty nursing, long-term care in a nursing home, routine dental and vision care, eyeglasses, or hearing aids. If you are planning to purchase a Medigap plan, the open enrollment period is six months from the first day of the month of your 65th birthday. You can buy a Medigap insurance plan from a private insurance company or through an independent agent who represents that company.  While the benefits of a Medigap policy are equally the same regardless of whom you buy it from, there certainly are many advantages of comparing rates between independent Medigap brokers.

Consider the following:

Training and Knowledge About Health Insurance

Independent Medigap brokers are sales agents who are not only conversant with different types of policies their carriers sell to help customers determine which plan best suits their needs, but they are also required to complete a pre-licensing training course, where they learn everything about insurance ethics, different types of insurance policies, as well as how different state’s laws apply to the type of insurance customers want to buy.

One of the main jobs of an insurance agent is to help insurance companies generate new business by contacting potential customers and selling them insurance. Therefore, an independent Medigap broker is able to provide you with some insights on the most reliable insurance companies. It is not uncommon to find one broker representing multiple insurance carriers that vary greatly in cost and coverage. A Medigap broker is well vast in the features of various policies, and he or she can explain in detail about the various plans to help you choose one that suits you best.

Helping You Find The Right Policy For You

Most people find very challenging when shopping for health insurance is understanding all the various Medigap plans. Not only will an independent Medigap broker assist you in deciphering some of the insurance lingoes, but also help you make discerning Medigap comparisons, including how they work, how they benefit you and your family, and how much they cost

Independent Medigap brokers can also help fine-tune your Medicare options that fit with your financial obligations, plans, and lifestyle and will give you access to the quality healthcare you deserve.

Using an independent Medigap insurance broker will save you time you would otherwise spend on Medigap comparisons and research, better yet, it costs you nothing to use a broker, and they can provide you with a 24/7 support.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

If you have Medicare Advantage, you know there can be many limitations. There can be many advantages to switching to a Medigap plan. By learning a bit more about this insurance coverage, you’ll better be able to determine if you should make the switch to Medigap.

Comparing Medigap and Medicare Advantage

Medigap is a bit different than Medicare Advantage. You’ll still need your basic plan. Medigap is basically extra help insurance that will cover the extra costs that are not covered by your original Medicare.

Medigap is sold by private insurance companies. The meaning of its name covers what it does, “covering gaps in your regular insurance plan”. Let’s cover some comparisons between the two types of insurances so you have a better understanding if you need Medigap.

Many Americans are facing escalating medical costs and have discovered that Medicare only covers some of them. Medigap covers the costs that aren’t covered by your other plan. Just some of the costs that Medigap covers include co-payments, deductibles, and healthcare coverage outside the USA.

What Medigap Doesn’t Cover

What doesn’t the Medigap insurance plan cover? They don’t cover long-term care, so that will need to be covered by your regular insurance provider, which is Medicare, in this instance.  Medigap also doesn’t cover dental care or vision care, or the related costs, such as eyeglasses, nor hearing aids. You also won’t get private duty nursing. Almost none of the Medigap insurance plans cover prescription drugs.

In order to sign up for Medigap, you will pay a monthly premium for one of the Medigap insurance plans.  Policies are only available to people who already have Medicare Part A or related type, which covers hospital services. Other plans may cover people who have Medicare Part B or similar. This covers doctor services.

Choose One Plan- Not Both

For people who have a Medicare Advantage Plan, they will not qualify for a Medigap plan at all. This means that you are going to have to decide which plan is right for you. In fact, it can be illegal for an insurance company to sell you both plans together.

Medigap will generally run at a higher monthly premium, but overall, your out-of-pocket expenses will be decreased, particularly if you have a disease or condition that requires extra clinic visits.  Medicare Advantage plan can be more affordable.  It can also cover more services. If you’re on a tight budget, this may be the plan for you, particularly if you’re pretty healthy.

You should also know that while regular Medicare and Medigap allow you to visit any facility that accepts these providers, with Medicare Advantage, you are limited to specific doctors or facilities within the plan. This type of plan doesn’t cover out-of-network care at all. This may be an issue if you live in the suburbs and aren’t near participating providers.

If you need assistance in deciding if you should switch from Medicare Advantage to Medigap, or with choosing the right Medigap plan to complement your Medicare, please contact us today.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Are you 65 or about to turn 65 years of age, but are unsure of which health plan works best for you? If you already have a comprehensive retiree health plan that provides additional and generous benefits, or benefits not covered by Medicare or Medigap policies, you may not need a Medigap plan. However, it is advisable to review your health insurance plan annually and evaluate whether it’s right for you based upon cost, convenience, and coverage. It is time to reconsider your current health plan if you are paying too much for benefits you don’t necessarily need or your health is worsening and you need more benefits.

Depending on the type of health insurance plan you are looking for, your risk factors and how much insurance you want, or what you want to be insured for, a supplemental health insurance plan can be purchased to cover additional expenses that are not covered by the basic health insurance plan such as co-pays, deductibles, and co-insurance.

Eligibility For Medigap

Supplemental health insurance policies such as Medigap supplemental insurance offer disease-specific insurance. While there are possible exceptions, but, if you are on Medicare, Medicare Advantage Part C health plan, have a disability or pre-existing medical condition and are under 65, you aren’t eligible to enroll in a Medigap plan. Available, contingent on the state you reside in, are eleven Medigap policy plans from A through G and K through N that offer different groups of benefits, filling different gaps in Medicare Parts A and B coverage.

It is a general rule that by law, insurers can’t sell you more than one Medigap supplemental health insurance plan. If married, your husband or wife will need to purchase a separate policy if they too need a Medigap coverage, but only if they have Original Medicare Part A and B. Generally, Medigap supplemental insurance plans do not cover any out-of-pocket costs for Part D plans, long-term care, private-duty nursing, dental care, vision care, eyeglasses, or hearing aids.

Standard Medigap policy will cover are some or all the costs of the following:

• About 20% of what Medicare doesn’t cover, such as your Part A hospital deductible and coinsurance
• Part A lifetime reserve coinsurance for 91 to 150 days
• A portion of Part B services such as your doctor’s bills
• Part B deductible
• Part B 20% coinsurance
• Part A and B first three pints of blood annually
• Hospice care and coinsurance
• Foreign travel emergency coverage
• Up to 365 lifetime hospital days beyond Medicare coverage

Rights You Have With Medigap

A few changes have also been made to Medigap rules that require companies to issue a Medigap policy without both a health screening and a new waiting period limitation. For example;

• You now have the right to purchase a Medigap policy without health screenings or a new waiting period if you no longer have insurance that covers all of the cost of Medicare’s 20% co-insurance
• Insurance companies cannot request, require or obtain medical information as part of the application process if you are applying under “open enrollment” rights or if you are entitled to “guaranteed issue” coverage
• “Open enrollment” rights are now extended to include COBRA and CalCOBRA

Regardless of the changes to the law, those who bought their Medigap plans before June 1, 2010, can rest assured that their plan is not only guaranteed renewable every year, but their benefits will remain the same as long as you want to keep it and the premiums are paid.

Bearing in mind that insurance companies are required to offer the same benefits for each lettered plan, but it is your prerogative to shop around and find a Medicare Supplement plan that may fit your medical and financial needs. In essence, insurers have the ability to charge higher premiums for this coverage, they are, after all, trying to make a living too. The following are what they base their costs when they price their plan premiums:

How Premiums Are Priced

Community-rated pricing – also known as No-Age-Rated pricing, the age of the beneficiary does not affect the premium price, but it may still go up due to factors, such as inflation, high deductibles, discounts, and whether you have a guaranteed issue right. Therefore, regardless of your age and overall health condition, the charges are the same premium to all beneficiaries

Attained-age-rated –  they are the most common as they represent the largest group of insured policyholders and the monthly premium rate for this policy is based on your current age at policy start. While they increase gradually over time, they are reasonable increments that must first be approved by the Department of Insurance as a way to keep up with inflation.

Issue-Age-Rated – premiums are priced based on the age at which you bought the policy. Depending on your state of origin, these policies will every so often have much higher premiums to start out and are subject to annual rate increments.

It is, therefore, important to do a little research pertaining to how your state rates this policy and also check an insurer’s rate increase propensities over the years before you purchase an issue-age policy or any other policy for that matter.

Medigap plans cover a range of benefits, with some providing more coverage than others. And while Medigap Supplemental insurance plans are standardized in most states, understanding how they are priced will ensure that you are not paying double for the same basic benefits. You may also be subject to medical underwriting that most insurance companies use to collect detailed information about your health and medical history when evaluating your application. It is during this evaluation process that an insurance company will decide whether or not to accept your application for insurance and how much to charge you. They, however, can’t use your health problems to deny you a policy or charge you more for it during your Medicare Supplement Open Enrollment Period. Therefore, be extra vigilant not to miss your Open Enrollment Period to avoid medical underwriting and extra costs.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Medicare Supplement Insurance policy or Medigap is a private insurance policy sold by private companies to help pay for some of the high out-of-pocket care expenses that are not covered by the Original Medicare such as copayments, coinsurance, deductibles, at-home recovery, as well as foreign travel and emergency care.

There are eleven standardized plans lettered from A through G and K through N – and are regulated by the federal and state governments. Every Medigap insurer offers both Plan A and Plan B, but it is important to know that while Medigap policies must provide coverage for the expenses that are not covered by Medicare, not every insurer offers all twelve standardized plans.

Medigap Enrollment Requirements

You don’t necessarily need a Medigap policy if you already have a supplemental retiree health insurance through a former employer or union or if you opt for a Medicare Advantage Plan, also known as Medicare Part C. In order to be eligible for Medigap supplement plans, a few things should be in place and it will also depend on the state you live in because not every state offers Medicare Supplement plans to beneficiaries under 65 years of age. Consider the following enrollment prerequisites:

• You cannot be a Medicaid recipient
• You have guaranteed enrollment in a Medigap policy if you are 65 years old
• You must be and stay enrolled in Part A and Part B in Original Medicare for your hospital and medical coverage
• Depending on your specific state and you are eligible for Medigap coverage if under 65 living with disabilities or certain conditions, such as end-stage renal disease or Lou Gehrig’s disease
• A Medigap policy only covers one person. You and your spouse must purchase separate policies
• In addition to the monthly Part B premium that you pay for Medicare, you will be required to pay a monthly premium for your Medigap policy
• Provided you keep up with the premium payments, the insurance company cannot cancel your standardized Medigap policy, and they must renew it annually

• Medigap plans do not cover private-duty nursing, long-term care, dental care, hearing aids, vision or eyeglasses, Medicare Part D, which is a prescription drug coverage plan

Open Enrollment Period

You would face late enrollment penalties if you didn’t enroll when you turn 65. Therefore, you want to sign up for a Medicare Supplement plan during your Medigap Open Enrollment Period. It is the six-month enrollment period that starts three months before the month you turn 65 or at the end of 3 months after the month you turn 65.

While you can apply anytime if you missed your Medicare Supplement Open Enrollment Deadline, but will not only be required to go through medical underwriting, but chances are you may not be guaranteed coverage. You will also be required to pay a late enrollment penalty if you want a completely different Medigap policy or to switch to a Medicare Advantage Plan that offers prescription drug coverage but you decide to drop your old policy, and the drug coverage wasn’t a creditable prescription drug coverage.

Choosing The Right Plan For You

Depending on the policy, Medigap plans A through J include the following benefits:

• Medicare Part A covers coinsurance and deductibles
• Medigap Part B covers doctors’ bills
• Medigap policies K and L include coverage of similar services as plans A-J and provide benefits that supplement those covered under Medicare Parts A and B
• First three pints of blood annually
• Foreign travel emergency
• At-home recovery
• Preventative care
• Excess doctor charges
• Hospice care coinsurance

While the services offered under each Medigap plan are standardized, the premium rates charged for coverage under the plans vary by insurance company and sometimes by geographic region. Additionally, Medigap policies may impose a pre-existing condition limitation of up to a six-month before the effective date of coverage. However, the waiting period can be reduced or waived completely, depending on your circumstances.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!