In April 2015 President Obama signed the Medicare Access and CHIP Re-authorization Act of 2015. This will mean higher Medicare premiums for people 65 and over starting with the 2018 Medicare year. The open enrollment period will be as far as we know October 15 to November 7 2018. If you will be 65 in 2019 you will need to plan ahead to minimize your 2019 Medicare premiums which will be quite a bit higher than the premiums people age 65 and overpay today.
Medicare officials estimate as much as 22% increase in 2019 Medicare Part B costs for wealthier beneficiaries.
NOTE: You can shop for Medigap plans all year, it pays to show around. Insurance companies can sell you medicare plans outside the 2019 open enrollment period – but they get to choose if you qualify.
Medicare was never designed to pay ALL of your medical bills. On this site, you can take advantage of special Medicare supplement plans – Medigap Plans – that give you solid protection against high medical bills. While protecting your freedom to choose your doctor.
Our goal is to make the process of identifying and selecting a 2019 Medigap Insurance Plan simple and hassle-free. You will be working with licensed insurance agents representing top, reputable insurance carriers. Our service is easy to use, free and with no obligations to purchase – ever.
Open Enrollment 2018 ends Dec 7th, 2018 but you can shop for Medicare supplemental insurance (Medigap) all year round.
Disclosure: “We are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website.
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Medigap is additional health insurance that you buy from a private insurance company to pay health care costs not covered by basic Medicare, such as co-payments, deductibles, and health care if you travel outside the US. Medigap insurance policies do not cover long-term care – such as stays in a nursing facility, dental care, vision care, hearing aids, eyeglasses, or private-duty nursing. Most Medigap plans do not cover prescription drugs.
You will have to pay a monthly premium for a Medigap insurance policy. If you use health services not covered by Medicare, your Medigap policy might save you money in the long run. You have to decide whether paying for a Medigap policy makes sense for you.
Private insurance companies provide Medicare Supplemental Plans that pays for medical expenses Medicare WILL NOT PAY FOR. You need to choose the plan you like the best. Should sign up? It depends on how good your current coverage is.
People under the age of 65 may have difficulty purchasing a medical supplemental insurance plan. The Law states that it is a right duly given to elders age 65 and above only after they have enrolled in Medicare Part A and Medicare Part B.
How Medicare Insurance works with other insurance companies
When you have Medicare coverage and other health coverage as well, each type of coverage is called a “payer.” In the case, there is more than one payer, “coordination of benefits” rules decide which one pays first. The “primary payer” pays what that coverage owes on your medical bills first, and then sends the rest to the “secondary payer” to pay – which could be a private Medicare supplemental Medicare company. In a few cases, there might even be a third payer.
Web addresses for the Medicare plan:
Medicare supplement insurance covers the gap between what Medicare pays on medical bills and what you have to pay for premium deductibles, coinsurance and co-payments.
Private Medicare supplement insurance policies pay only for services that the U.S. Medicare system indicates medically necessary – and cash payments are generally based on the Medicare-approved expense. Some insurance plans offer financial benefits that Medicare do not offer. Such as emergency care abroad.
NOTE TO: All Medicare Advantage Organizations, Prescription Drug Plan Sponsors, and Other Interested Parties
Aside from this, they should also pay the monthly premium rate for Medicare Part B on top of what you will need to pay for your Medigap Insurance Policy. Realizing all of these different types of payment, it makes you wonder why many are still interested in purchasing a Medicare Supplemental Insurance Plan. Are the Medicare benefits still not enough to cover the medical expenses of the elders?
If you have Medicare and other health insurance, each type of coverage is called a “payer.” If or when there is more than one payer, ‘coordination of benefits’ rules decide which one pays first. The “primary payer” pays what it owes on your medical services bill first, and then sends the rest to the “secondary payer” to pay. In some cases, there may also be a third payer.
What it means to pay primary/secondary
Paying “first” means paying the whole bill up to the limits of the coverage. It doesn’t always mean the primary payer pays first in time. If the insurance company doesn’t pay the claim promptly (usually within 120 days), your doctor or other providers may bill Medicare. Medicare may make a conditional payment to pay the bill, and then later recover any payments the primary payer should’ve made.
Medicare Supplemental Insurance Plans, also called as Medigap or PRIVATE MEDICARE, are individual insurance policies purchased by elders who believe they need more assistance with their medical needs. The Medicare assistance offered by the government is sufficient for the majority of the elders in the US, but there are still quite a few individuals who will need more financial assistance on this matter. The only option left for them to grab hold onto is these Medigap Insurance Policies.
Medigap Insurance Policies are classified into 12 distinct categories. This is regulated by law and cannot be altered in any way by the insurance company. The most they can do is to convince you to purchase the plan coverage that will place the company at lesser risk of paying more rather than earning more from you. You should be cautious of these techniques because you may end up tricked by some insurance agents because of their flowery words and convincing speeches.
Choose a Medigap Insurance Policy if and only if you have calculated your potential insurance cost to be more than what the Medicare will be providing you. Otherwise, you will not need any of these supplemental insurance plans because the government will have your medical expenses all covered-up.
Medicare is a social insurance program administered by the US government, providing national health insurance coverage to people 65 and over, or individuals who meet other special criteria.
US Medicare Gov operates similarly to a single-payer healthcare system. The most important difference is that its coverage only extends to 80% of any given medical cost. The remaining 20% of cost must be paid either via a private company supplemental health insurance or via the patient’s own personal funds. Private health insurance usually requires a monthly premium to be paid.
Medicaid and Medicare sound similar. They are really two very different government programs. The biggest differences is Medicaid is a state governed program while Medicare is a federal program. Some other differences are:
Application for Medicaid is accepted at the individual State’s Medicaid agency.
Medicare is for individuals:
Some individuals qualify for both Medicaid and Medicare. Medicaid can sometimes be used to help pay for Medicare premiums. People who qualify for both programs are called ‘dual eligible’.
As a rule, all persons 65 years or older qualify for Medicare coverage. If they have been a resident of the US for at least 5 years. All people with disabilities in the US are also entitled to Medicare.
Basically, Medicare has four parts. Part A covers hospital stays and expenses. Part B is a general medical insurance coverage. Part D is the coverage of prescription drugs. Part C, also called Medicare Advantage Plan – is just another way to receive parts A, B and D.
Medicare Part D offers prescription drug plans (PDP) through private insurance companies. There is 10 national plans offered, including AARP Part D Coverage, and some regional plans. The estimated cost for the premium will vary with the plan but the current estimate for the average PDP is approximately $37 per month. The premium cost is expected to increase annually.
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