When in your retirement years, you shouldn’t be worrying about how to afford your healthcare but rather enjoying the time you have for all the things you could do before. Many seniors are finding out that the Original Medicare benefits don’t provide the necessary coverage needed to take care of many health costs when hospitalized or if you need outpatient surgeries or treatments. Humana Medicare plans might be a way to help cover costs that Original Medicare does not cover.
Humana Health Insurance Company; one of the largest health insurance companies in the U.S.; opened the doors to its operation in the year 1961. Awarded by J.D. power & Associates for customer satisfaction and an excellent rating with A.M Best.
Humana offers insurance produce including Humana Medicare plans for both Medicare supplement as well as Medicare Advantage plans. They also include individual and group health insurance plans.
Medicare supplement plans that are available are standardized and organize by being lettered A-N. These standard health plans will vary depending on which region your in. Ask your Medicare insurance broker to check and see which plans Humana insurance is offering in your area.
This is the most basic supplement plan. Plan A covers coinsurance for your Part A and an additional 365 days of coverage for hospital care when the original Medicare benefits end. This will also cover your Medicare Part B 20% coinsurance which Medicare will not cover for outpatient expenses. This includes things like your doctor visits or labwork and surgery, etc.
Medigap Plan A will also cover coinsurance for hospice care Part A and your first 3 pints of blood if you need a transfusion. You are responsible for covering deductibles for any excess charges and coinsurance for skilled nursing.
Plan F will provide more benefits that any of the other plans, but you pay more for the premium. However, you don’t have to be concerned about medical bills since it pays for the different gaps found in Medicare with the acceptation of any excess charges for Medicare Part B. There are options available for a higher deductible allowing you to have a lower premium for Plan F insurance coverage.
Plan G in recent years became more popular because Plan G has lower premiums in exchange for you paying the Medicare Part B deductible. Once you paid the Part B deductible; Plan G will then pay the same as Plan F for the remainder of the calendar year. Make sure you compare the numbers.
With these plans you receive the same basic coverage found in the other plans minus the coverage for additional coinsurance or copays. So premiums will be lower than those for a more full coverage supplemental insurance.
In addition to Humana offering Medicare supplements, more people are familiar with Humana’s Medicare Advantage plans. These are private plans which will pay instead of Medicare. There are a variety of plans Humana operates across the nation for Medicare HMO, PPO, and for some counties they have PFFS or Special Needs Plans.
These private Medicare plans pay in place of Medicare and you seek treatment and you get treatments using their network of providers in your local area and this replaces your Original Medicare Part A and Medicare Part B coverage. Some of these planes include a Part D rolled into the plan. Some limitations may be for things like preventive dental care and eye exams.