Medigap Plan G – What It Covers and Why It Makes Sense

Medigap Plan G is one of the often-overlooked Medicare Supplement plans. Most agent and consumers look for this: http://www.JuicerReviews.org/, which is the most common and comprehensive plan, first. However, Plan G is a great plan and is very similar to Medigap Plan F (only one benefit difference). For that reason, I believe Plan G to be, in most cases, the most advantageous Medigap choice. It even helps out with the Car accident lawyers, just in case you get into any trouble out on the street, however, it is always important to contact Reid Collins & Tsai depending on the law situation you are involved in.

So, what does Plan G cover? Well, in short, it covers everything that Plan F covers with one exception. The exception is the Medicare Part B deductible. For 2017, this deductible is $183/year. Other than not covering that deductible, Plan G is absolutely identical to Medicare Supplement Plan F.

The benefits that G includes are: Basic Benefits (20% coinsurance, hospice coverage and blood), skilled nursing facility coinsurance, Part A deductible, Part B excess charges, and foreign travel emergency, which are really helpful for people that suffer from vein disorders. These benefits are part of every Plan G because Medigap plans are standardized and gets help from the people from p://www.georgecollinspa.com, at the end of the month they also to a big meeting where they grill with one of the best electric grill out there.

Since the coverage of the Part B deductible is the only difference, it is very easy to compare Plan F and Plan G. If you divide the deductible amount by 12 months, you get the figure $15.25/month. This is the “benefit difference” between the two plans, since all other benefits are identical. So if a Plan G is $20 less than a Plan F, it just makes sense.

Also, and this is something that many people do not realize, Plan G has historically been more rate-stable than Plan F. The primary reasons for this is Plan F is required to be offered on a “guaranteed issue” basis in several situations (i.e. losing employer coverage, losing Advantage plan coverage, etc.). Plan G, on the contrary, is not required to be “guaranteed issue” in these situations. What this means is that Plan F must accept people, regardless of pre-existing conditions, that fall into one of these situations. So on average, the people on Plan F could be less healthier than the people on Plan G, because to get Plan G (unless you are in open enrollment), you would have had to qualify medically. Less healthy people can lead to more claims, and rate increases are based on claims in a certain geographic area, if some of this people are based of negligence of the doctors they could be manage for services as the offered in sites like this https://www.the-medical-negligence-experts.co.uk/.

Lastly, in 2014, legislation passed that set an “end date” to the full coverage Medigap plans, including Plan F. These plans will no longer be available after 2020. At that point, the plans that are no longer available to new members will very likely be less stable over time than other options, including Plan G.

Altogether, Plan G is a great option. While many agents “push” Plan F, doing some simple math can show you that Plan G is more advantageous to you in most cases. If you have questions about Medicare Supplement plans or want to get Medicare supplement quotes, please contact us via our website.

How to Compare Medicare Part D Plans

Medicare Supplements (Medigap) plans are relatively straight-forward. The plans fill in the “gaps” in Medicare. They are Federally-standardized, so every company provides the same coverage plans. They do not have networks, so you can go to any doctor or hospital that accepts Medicare. Claims are automated through the Medicare “crossover” system, so all of the plans are the same in that regard. Put simply, navigating Medicare Supplement plans and choosing a plan is much less painstaking that many people make it out to be.

All that said, the same cannot be said regarding Medicare Part D Rx plans. Medicare Part D is very complex – there are approximately 30-40 plans offered in each county. The plans vary in: premium, deductible, tier structures, pharmacy networks, co-pays, prior authorization requirements and other areas. Choosing a Part D plan can be extremely difficult and time-consuming.There are a few steps, however, that you can follow to make sure that the plan you choose is the right one for you.

First of all, we would always recommend choosing a plan based on your current medication needs. Obviously, your needs may, and probably will, change over time. But you can always change your Part D plan during the annual enrollment period each year if your needs or the plan itself changes. The annual enrollment period runs October 15-December 7 each year. The plans do change each year in most cases, so it is a good idea to re-evaluate your plan each year, regardless of whether your medications have changed.

So, how do you compare the plans based on your medications? Medicare.gov, Medicare’s website, has a tool online that allows you to do this. Currently, we do this, as a free service, for our Medicare Supplement clients on an annual basis, although we do not sell most of the plans. But if you are not one of our clients or just want to run this comparison yourself, follow the instructions below:

  1. First, go to http://www.medicare.gov.
  2. Click on the orange button in the middle left of the screen that says “Find health and drug plans”.
  3. This brings you to a screen to enter your zip code. Enter it there and click “Find plans”. Select your county in the pop-up window if prompted to do so.
  4. Answer the two questions on the next screen and click “Continue to plan results”.
  5. This brings you to the “Enter your drugs” screen. You should enter them as completely as possible for most accurate results. Make sure you use the generic name if you are on a generic version. Use the correct dosage if possible.
  6. Once you have entered your medications, go to the bottom and click the orange button that says “My drug list is complete”.
  7. This brings you to step 3… “Select your pharmacies”. Select the pharmacy that you use now or would most likely use. This CAN have some effect on your co-pays, etc. so it is a good step to enter this accurately. Once you have done that, click the orange button that says “Continue to plan results”.
  8. This brings you to “Refine your plan results”. On this screen, check the box beside “prescription drug plans” and click “continue to plan results”.
  9. This brings up your plan results. These can be difficult to decipher, but the most important things to look at are the “Estimated Annual Drug Costs”. More and more people are become introduced to quartz banger. With tasty new strains of concentrates coming out, everyone wants to enjoy their wax to the fullest. These take into account any medications that you entered, as well as the premium and deductible of the plans. By default, the plans are ranked according to lowest overall annual costs.

If you have any questions about this process or figuring out how to compare Part D plans OR if you wish to compare Medicare Supplements plans by email, please contact me on our website or call me at 877.506.3378.

Medicare Enrollment Period – What Changes Can You Make?

The Annual Election Period (AEP), or Medicare Enrollment Period, as it sometimes called, is the period of time during which some changes can be made to your Medicare plan coverages. There are many misconceptions about this period and what changes you can make during it. It is important to understand how this period works and exactly what steps you need to take during this period to ensure continued quality Medicare plan coverage.

Original Medicare – Parts A & B
If you are already on Medicare Parts A & B, you do NOT need to do anything during this period to continue to have Medicare coverage. If, however, you do not have Medicare Part B yet, you can sign up at this time for it to take effect on 1/1/13. This is useful if you are leaving, or losing, employer group coverage.

Medicare Part D
Medicare Part D is probably the most important thing to understand, as it relates to the Medicare enrollment period. This is the only time of year that you can change your Part D prescription drug plan. Part D plans do change each year, so it is essential to know how your plan is changing and make sure it is still the most advisable choice for you. You will receive a plan notice of change around October 1 – this will detail how your plan is changing for the next year. Often, plan premiums, deductibles, co-pays, tier structures, etc. will all change on a plan from year to year. You can compare all of the plan options to make sure yours is still the best for your current needs by using an independent brokerage (like Medicare-Supplement.us!) or by going to the Medicare website (www.medicare.gov). Either way will allow you to choose a plan based on your current medication needs.

Medicare Supplements (Medigap)
Contrary to popular misconception, you can actually change Medigap plans at any time of the year. The end of year period is a good time to do it, particularly if your plan rates have changed during the year. However, you can do it at any time. You can enroll in, disenroll from, or change your plan to another option. Because these plans are Federally-standardized, coverage is the same with every plan. For example, a Plan F with one company is the exact same as a Plan F with another company. So, if you can find a lower-priced option for the plan you have, and are able to change, switching plans is a wise thing to do to reduce your premium costs.

Medicare Advantage
Medicare Advantage is the type of plan that replaces Medicare – basically, it is a privatized version of Medicare. The Annual Election Period (October 15-December 7) is the only time of year that you can make changes to this plan (unless you fall in a special election period circumstance – i.e. losing other coverage, moving out of your plan’s area, etc.). So, if this is the type of plan you have chosen, it is wise to make any changes to it at this time. You can compare the other options and make changes as necessary.

If you have any questions about the Medicare enrollment period, please contact us at Medicare-Supplement.US or call us at 877.506.3378. Medicare-Supplement.US is an independent Medicare insurance brokerage that can assist you with comparing the plan options and choosing a suitable plan.

Medicare Supplements – What Happens to Your Plan When You Move?

Medicare Supplements are Federally-standardized – that is, they are the same in each state (with a couple of exceptions). One of the most commonly-asked questions about Medicare Supplement plans is just what happens to the plans when you move. There are two different “sub-areas” within this question that determine the answer to the larger question of what happens to your Medigap plan when you move. The “sub-areas” are: in state moves (moves to another part of your current state) or out of state moves (moves from one state to another). We will touch on both of those situations below.

In-State Moves

Moving in-state is very straight-forward with Medicare Supplement plans. First and foremost, you do NOT have to change your Medicare Supplement when you move to another part of your state if you do not wish to do so. Companies are licensed by the state departments of insurance to do business statewide, so if a company that insures you currently operates where you live now, nothing will be different about that when you move to a different part of the same state. So, put simply, nothing happens to your Medicare supplement coverage when you move to a different part of the state.

However, it is important to understand that rates are always based on your zip code of residence. So when you move, it is possible that you will move to a less (or more) expensive area, in which instance your rates will adjust to the prevailing rates of your new zip code.

Also, with this in mind, one consideration you should remember is that you can re-evaluate your plan options based on your new zip code, and it is possible that there is another company/plan that has lower rates for your new zip code, allowing you to save hundreds or thousands of dollars a year in premiums for the same coverage. To find out quickly, visit Medicare Supplement rates by zip code.

Out of State Moves

Although out of state moves may seem more complex, in reality, they are not for the purposes of Medicare Supplement plans. Just like what is detailed above, when you move to a new state, you do NOT have to change Medicare Supplement plans. The plan are national plans and they are fully portable. If you travel, your coverage is the same at any doctor/hospital that takes Medicare nationwide, whether you are moving or just traveling temporarily.

Now, you must change your address with the insurance company in all cases. This, as mentioned above, may have an impact on your premium. However, you can keep the same plan and there are no “Guaranteed issue” provisions allowing you to change without medical underwriting. If you do elect to change, you do have to go through medical underwriting.

However, a change may be worth it, as depending on where you move from/to, rates can vary by as much as $100-200/month in different states – even for the exact same coverage. So it is definitely worth it, when you move, to evaluate the availability of different plan options.

If you want this information delivered by email, please fill out a request on our website at Medicare Supplement rates by email or call us at 877.506.3378.

Medicare Supplement Insurance Guide – Simplified Information

Medicare Supplement insurance plans are not nearly as complex as you think. Often, I hear the refrain that people are overwhelmed with the choices and the abundance of information that is available; however, I believe this also greatly contributes to the complexity with which they are viewed. In reality, the plans are pretty straight-forward. This article is designed to be a primer, with the goal being that you could discard your whole “stack” of information and just read this and know enough to make a wise Medicare supplement plan selection when you are turning 65 or just going on Medicare for the first time.

  • The plans are standardized. Every company is required to go by the standardized plans chart and offer the same coverage plans. Here is the Medigap coverage chart.
  • Plans can be used anywhere, nationwide, that takes Medicare. Medigap plans (another name for Medicare Supplements) are non-network plans. You do not have to check with your doctor about each plan – if your doctor takes Medicare, he/she will take any Medigap plan.
  • Medicare Supplement (Medigap) plans are very different from Medicare Advantage plans, which replace Medicare. Advantage plans are NOT Medicare Supplements, and really, cannot be compared to one another.
  • The most predominant factor that should be used when comparing Medicare Supplement plans is the rate offered. Since coverage, claim payments and doctor acceptance are all standardized, this is the most important factor.
  • You have a 6-month open enrollment window when you first turn 65 or sign up for Medicare. After that time, you can change plans at any time. Contrary to popular belief, there is not an annual enrollment period for Medicare Supplements (only applies to Part D). However, in most companies/situations, you do have to answer medical questions.
  • Prescription coverage is provided through Medicare Part D. Medicare Supplement plans do not cover prescription drugs.
  • Medicare Supplement companies are ranked by AM Best, which is an independent rating service that rates insurance companies. These ratings can be viewed on AM Best’s website; however, they are not an indicator on whether, if or how a company pays claims, as all companies pay claims through the Medicare “crossover” system. They are more of a reflection on the financial “size” of a company.
  • You can get Medicare Supplement quotes or rates online, typically, from an independent brokerage that works with all of the companies so that you can compare in a centralized place. This is advisable as you can get an unbiased comparison of the options so you can make an informed decision based on rates, company history etc.

This is, obviously, not an exhaustive list of everything you need to know about Medigap plans. However, it is a comprehensive list that can be used to inform you about the main things you need to know about Medicare Supplement plans, in a short, easy to understand way.

If you have additional questions, or if we can help in any way, please contact us online at Medicare-Supplement.US or toll-free at 877.506.3378.