The twelve different types of Medicare Supplement policies

There are certain Medicare supplement policies, commonly referred to as Medigap, which are sold to Medicare beneficiaries who are already enrolled in Medicare or Medicare Advantage plans. These Medicare supplement plans help cover the "gap" or pay for expenses that Medicare does not include. Medicare supplement policies are private insurance plans that help pay expenses, such as deductibles, co-payments, or prescription drug costs.

Medicare beneficiaries can purchase Medigap, or Medicare supplement policies, on the open health insurance market. At this time, many seniors do not purchase Medicare supplement plans and only rely on Medicare or Medicare Advantage plans. The premium costs for Medicare supplement policies vary based on geography, type of plan, age and health condition. Therefore, purchasing Medicare supplement plan right when you turn 65 is probably a good idea, because th at is when you are the healthiest and youngest and eligible for Medigap coverage. If you purchase a Medicare supplement policy later on, you may have to pay a really high premium.

There are standardized Medicare supplement policies, which are government-regulated to include specific benefits so that individuals can compare the policies easily. However, each health insurance provider can set their own prices for their Medicare supplement policies. That is why it is important to do some comparison shopping between insurance providers.
At this time, there are twelve different standardized Medigap or Medicare supplement policies. They are identified by the letters A through L. The federal and state government both regulates these Medicare supplement policies, in order to protect seniors. The first mandate is that all Medigap policies be clearly identified as "Medicare Supplement Insurance". The twelve different types of Medicare Supplement policies have a different set of basic benefits, plus possibly more additional benefits. In the next year or two, some additional Medicare supplement policies will be added. These will also be identified by letters.

In order to buy a Medicare supplement policy, you must already have Medicare Part A and Part B. You will continue to pay your premium for Part B, and then an additional premium for the Medicare supplement policy. Part A, as you are probably aware of, does not require an additional premium, as long as you paid into Medicare ta xes throughout your career life. Unlike traditional health insurance, each spouse must purchase their own Medicare supplement policy. One Medigap plan will not cover married spouses.

If you enroll in a Medicare Advantage plan, rather than the traditional Medicare, you are not eligible to also buy a Medigap policy. This is because the Medicare Advantage plans already have additional benefits, in addition to standard Medicare, and therefore a Medicare supplement insurance policy would be considered double benefits. You can get a lot of information about Medicare, Medicare Advantage plans, and Medicare Supplement insurance plans on the government's web site at Medicare.gov.

Remember that you can purchase Medigap or Medicare supplement insurance plans from the private health insurance market, and through a licensed insurance broker. A broker can help you find the right Medicare supplement insurance, and explain to you the difference between the twelve different Medigap policies available.

Will Medicare Advantage premiums be lower next year?

A recent announcement from the Centers for Medicare and Medicaid Services (CMS) indicated that, on average, Medicare Advantage premiums will be 1 percent lower next year. Plus the CMS expects that enrollment in Medicare Advantage plans will increase by 5 percent.

"These predictions are just further proof that many Americans find that the Medicare Advantage plan options are the right choice for them," suggests Alan Weinstock, insurance broker, at www.MedicareSupplementPlans.com. "But whether Medicare beneficiaries choose a Medicare Advantage plan or go with original Medicare and add a Medicare supplement plan, it's important that they take time to compare the benefits of each based on their own personal needs."

Medicare Benefits for 2011

The good news is that the CMS said that the majority of Medicare beneficiaries will see little or no change in their 2011 benefits. In addition, there will be more drug plans offering coverage during the donut hole, that period in prescription drug coverage when there is a gap in coverage. And, consistent with the Affordable Care Act (ACA), beneficiaries in most Medicare Advantage plans and original Medicare will gain access to preventive benefits with no out of pocket costs.

The CMS further indicated that nearly the same percentage of Medicare beneficiaries with current access to Medicare Advantage plans will continue to have access in 2011. That number is 99.7 percent. And all Medicare beneficiaries will continue to have many prescription drug plans to choose from.

Medicare Resources for Seniors

It's important that all Medicare beneficiaries, especially those who are new to the program, get the information they need to make the right decisions about the type of coverage they want: Medicare Advantage or original Medicare with a Medigap plan.

One way to do this is to read the Welcome to Medicare brochure put out by the CMS. This booklet explains which health care services and supplies Medicare covers and how to get those benefits through regular Medicare Part A (hospital insurance) and Part B (medical insurance). In addition, Medicare and You 2011, the official Medicare handbook from the CMS, is due out in mid-October.

Seniors may also want to reach out to service organizations for assistance. Medicare beneficiaries who have questions about Medicare Advantage, original Medicare or how changes from the Affordable Care Act (ACA) might affect them, should consider contacting their state Senior Health Insurance Program (SHIP), a free statewide health insurance counseling service for Medicare beneficiaries and their caregivers.

And for Medicare beneficiaries who are considering Medigap insurance to help supplement their Medicare coverage, speaking to a reliable insurance broker like the brokers at http://www.MedicareSupplementPlans.com can be very helpful.

Wherever you turn for information, be sure to be proactive and investigate your options before you turn 65.

Medicare Supplement Plans And Open Enrollment

Medicare Supplement Insurance plan is used to assist with health care charges that are not covered by the original Medicare program. The coverage cost varies quite a little as the different companies demand a variety of monthly premiums. This insurance helps as well with copayments and deductible sums. Consumers who are registered for a Medicare Edge Plan cannot put it to use. All Medicare product policies must be plainly identified accordingly. These policies must have similar or even identical benefits.

Rewards like long term care, spectacles, dental health, and so forth - are not covered simply by these policies. The insurance policy companies may decide which types of plans they sell yet state laws have an effect on the policies that you can get. Sometimes, insurance companies need to sell you a coverage regardless of virtually any health problems you might have especially if you decide to make application during enrollment.

At times apart from open enrollment, the coverage policy company will not issue you a coverage if you have preexisting conditions. Because many individuals have medical concerns, the best occasion to get a policy will be during open application..

Open enrollment can last for six months and also starts on the very first day of the particular month that you reach your 65th birthday and are registered for Part-B Medicare. They will make you hold out to start the coverage for any previous conditions however you will find numerous ways to cut short or avoid the holding out period. Also remember, if it is a site covered by Medicare health insurance, they will nonetheless cover the expenses, even when your personal charges are not covered by your other policy.

It is quite crucial to understand just how open enrollment operates. During open application, the insurance business must sell you a policy at a similar price as healthy folks even if you have got health issues. Acquire help from a coverage specialist, if needed and this important opportunity should not be missed. If you delay until your open application is over, the coverage policy firm does not have to offer you a coverage if you are ill.

There are certain circumstances when insurance firms must offer you insurance coverage by law, although you may have health issues. Typically, if you have some other insurance coverage which you lose for a reason, it is possible to still get a coverage with existing conditions. This example is called a certain issued right.

Attention should be given when choosing the coverage that is right for you. There are numerous issues to look at. What forms of benefits do you need? Simply how much do you want to devote to your premium?

Now That You're Turning 65, You Need a Medicare Policy - Do You Even Know Where to Begin?

1. Now that you are about to go on Medicare even though you will have Medicare you need to know that Medicare A and Part B only covers 80 percent of "their" approved amount. Which leaves you paying the other 20 percent. That is why you will need to seek out a Trusted Insurance agent or preferably a Trusted Broker. Especially now that the new Health care bill passed, as the government plans on paying for the new health care program by taking over 500 Billion dollars from Medicare over time to pay for the new plan. This can and probably will adversely affect yours and my future Medicare benefits.

2. If you are just turning 65 you should know that you do not have to qualify medically to obtain a Medicare supplement plan or a Medicare Advantage Plan. (Please look for my other articles on the differences between Medicare supplements and Medicare Advantage plans), this would be very important information to know!

3. If an agent/broker has sold for a long time in my opinion over ten years, and they have been able to make a comfortable living doing so then they have to know what they are doing and are taking good care of their clients. You would want to deal with someone that you can reach easily by email or phone when a question or problem comes up.

4. One way you can check on how long they have been licensed is to contact your local Department of insurance. They have all the licensing records on all agents as well as any complaints or sanctions. I shouldn't have to tell you that if you check and find out they have a complaint even one or sanctions stay clear of that person!

5. Does he/she seem more concerned about pushing a certain product on you before they have qualified your needs? If so, move on fast! In fact RUN! If an agent cannot give you the respect and time to get to know you and your needs then they only look at you as a dollar sign. Pure and Simple, but one that will insist on a sit down appointment to take the time to ask important questions so they know where and what companies that will fit your needs, that is an agent you want in your corner!

6. You want "your" broker/agent to take the time to ask questions about your life style, your family, your future goals, then that is someone that probably is trying to get to know you well enough to suggest some good plans that will fit you, your needs, and lifestyle.

7. Because Medicare Advantage plans and Drug plans change each year, you need an experienced agent that keeps up with all of the changes in Medicare regulations. You will also want a company that your doctors and clinics in your area will accept. Of course this can change daily, "golden rule", remember that any doctor any time can choose to not take Medicare patients or certain Medicare plans. So always check with your main doctor to be sure the plan your are leaning towards will accept the plan. A good Insurance Broker will usually check this out for you.

Find your Free Newsletter here for more valuable Insurance tips before you buy: http://www.trackingyourfuture.com/
Jacque Smith has been an Independent Insurance Agent for over 16 years. She has helped thousands of people including Seniors choose the right Insurance plan for them. Whether it be Life Insurance, Health, or Medicare Insurance she has always put the clients needs before her own.

Jacque also has done a great deal of voluntary work in the Senior community in her city. The experiences and joy of being able to meet new people every day is what has kept Jacque in the Insurance Industry.

For help in finding an Experienced agent- broker like Jacque in your area go here: http://www.myinsurancetrack.com/

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What Does Medicare Supplemental Insurance Cover?

Medicare is America's largest healthcare program sponsored by the government, and provides coverage to close to 44 million Americans who have qualified for enrollment in the program. Though coverage is provided for most of the medical expenses, there are some expenses which are left uncovered by the program. Hence, the participants who have Medicare coverage should know the aspects that are covered and those left uncovered so that they can opt for Supplemental medical insurance to cover the additional expenses incurred.

Before enrolling for Medicare Supplemental insurance, the individual must know the current health plan they have enrolled for. The health plans that the participants will have are Medicare Part A or Part B.

Medicare Part A - Gaps

Since the Part A plan covers expenses incurred due to inpatient care, hospital fees, nursing services, hospice services and home health care, this plan is called the hospital plan. The drawback is that there are a significant number of gaps in this plan, since many costs are not covered under it.
There is a hospital deductable for every new illness which during 2009 stood at $1,068There are coinsurance payments applicable for the hospital charges. Once the deductible amount has been paid, the plan will cover the hospital costs for 60 days and post that for the next 30 days, from day 61 to day 90, a coinsurance of $267 had to be paid by the participant as coinsurance in 2009. The payment for the next 60 days, from day 91 to day 150, the coinsurance payment in 2009 was $534.The cost of staying in the hospital after 150 days has to be borne by the participant completely.Skilled nursing facilities also involve coinsurance payments post a certain time limit. While the plan will cover the complete costs for this in full for the first 20 days, a daily coinsurance payment of $133.50 was applicable for this service in 2009.Coverage for full time home health services.Coverage for home health services when not provided by skilled professionals.Medicare Part B - Gaps

This plan that provides coverage for many outpatient services and physician fees is also called the Supplemental Medicare Insurance. Prosthetic devices, and durable medical equipment are covered under this plan. The gaps in this plan are as follows.
There is an annual deductible which has to be paid before availing coverage under Plan B. The annual deductible payment for 2009 was $135.There is a coinsurance payment of 20% applicable since this plan will reimburse only 80% of the total costs incurred under approved services.A portion of the bill which is not covered by the Medicare Plan B should be paid by the participants.Filling the gaps in Medicare coverage

It is recommended that the participant ensures comprehensive health coverage by opting to close the gaps in the current plan they hold. The options that one has to close the gaps are as follows.
Opting for programs like Medicaid, Special Low Income Medicare Beneficiary Program, Qualified Medical Beneficiary Program and Qualified Individual Program, all of which come under the umbrella of Government programs.Group retirement policies which are non-standardized.Medicare Supplement Plans, issued prior to July 31, 1992 which are non- standardized plans.Medicare Supplement Plans, issued post July 31, 1992 which are standardized plans.? Prior to enrolling in these plans, it is recommended that consumers get free Medicare quotes to compare prices.It is important for participants to know that people who have Medicaid need not obtain Medigap insurance since the former will cover their healthcare expenses. QMB? can be acquired by people who are within the 100% poverty level set by the federal government and not eligible for Medicaid. This plan will cover their annual deductibles, coinsurance payments and Medicare premiums.

All people should be aware of the gaps in their policy and avail the best possible option to cover these gaps to ensure they are fully covered in case of medical emergencies.

Medicare Advantage and Supplement Plans, Understanding the Difference

Two main options exist when it comes to covering expenses not taken care of by straight Medicare. Medicare advantage plans and medicare medigap plans. Because there is a lot of confusion between the two I would like to address the main differences. Typically there are always exceptions to any rule so please check with your qualified representative to insure your best option.

Medicare advantage plans usually have premiums that are lower that medicare supplement plans. Additionally, prescription drug coverage is usually included in the plan. A medicare advantage plan is typically set up as an HMO which means you have to choose your primary care physician. If you need to go to a specialist a referral would be required. When care is provided on this type of plan there is usually a copay that needs to accompany the visit. Plans changes can only be done on these plans during open enrollment periods.

There are some medicare advantage plans that do provide a greater degree of flexibility in choosing doctors. Those types of plans would be considered PFFS or PPO plans. Both of these plans usually require a monthly premium.

Medicare supplement options work differently than medicare advantage plans. On a medicare supplement plan Medicare is your primary insurer and the medigap plan is what is called your secondary insurance. There are several types of medicare supplement plans. For explanation purposes I will concentrate on plan F.

On a medicare supplement plan you are not limited to having to have a primary care physician. You can go to any doctor (primary or specialist) that accepts medicare. This includes out of state coverage.

If medicare is your primary insurance you will need a part D (prescription drug plan) that will have to be purchased separately. The average cost of a plan D is $30.00 per month.

Changes on a medicare supplement plan may be made at anytime. However the company that you are switching to may require underwriting.

A medicare supplement plan F would take care of doctors office visits so no copay would be necessary. Additionally, there would be no hospital copay or deductible.

Because of the enhanced benefits there is a monthly premium required for medigap plans.

By providing details on the different available options my hope is that you can make an informed decision.

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How Do You Find the Best Medicare Supplement Insurance Plan?

As of January 1st 2006, 12 different medicare supplement insurance plans were made available to individuals that qualified for this type of coverage. The plans were all given alphabetical classifications. The classification scale ranges from plan A all the way to plan L.

Each of these plans offer different benefits in opposition to their other plans. Plan A, for example is the most inexpensive medical plan for an individual to obtain. While, on the other hand, Plan J offers the most benefits for people but is also the most expensive of the health care plans.

Be aware, that even though there were twelve different plans that were introduced to the health care industry, not every state offers all of these options to seniors seeking health coverage. Massachusetts, Wisconsin and Minnesota have their own plans, however the benefits are generally the same as the twelve advantage plans offered to seniors throughout the remaining 47 states.

The best time to purchase one of these insurance plans is six months after you have been enrolled into a Medicare Part B arrangement. During this time period, insurers are basically forced to accept you as a client, regardless of any pre-existing health care problems that you may have had.

In regards to the amount of funds that you may be asked to render for one of these policies, there are three things you need to be aware of. You need to remember that paying a higher premium for your coverage, does not constitute that it is better for you. Whichever company that you decide to go with, will pretty much end up giving you the same benefits. However, the key thing is finding a company that can attend to your budget needs as well.

Also, just like everything else in this world, Medicare premiums will increase overtime in order to keep up with inflation. You also need to have a keen knowledge regarding the three different methods that these agencies use to set their premiums.

Companies will review over the attained age of an individual, their issue age as well as where the person resides. Typically, the attained age for an individual to be able to receive Medicare is 65. As the person begins to age, their premiums will begin to increase as well.

All premiums are based on your age when you receive coverage. Basically, the older that you are the more money you will be asked to render for a particular policy. Also, people that live around each other will be asked to submit the same amount of money for their coverage. If a company decides to take advantage of community-rated policies, everyone regardless of their age will be able to receive coverage.

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Getting to Know Medigap

Medicare is now currently paying for only about half of all the healthcare costs for Americans aged 65 and over. The other half of the medical expenses would be up to the people to pay out-of-the-pocket. With Medigap, which Congress standardized in 1992 and revised in 2006, people won't have to worry about the payments because this type of insurance will pay for all medical expenses in excess of what an original Medicare plan covers.

Medigap or Medicare supplement insurance can be any of the 12 supplemental insurance policies named a the letters A through L. Each one of the policies extends a different list of benefits targeted at providing additional coverage that is not available in the Medicare insurance plan. Each of these plans is priced appropriately. Medicare supplement Plans K and L are complementary to the basic benefits offered in Plans A to J. Nonetheless, the plans come at a decreased monthly premium but with raised out-of-pocket expenses.

Plan A is the most basic. Plan B offers everything in Plan A, and also covers the deductible for Medicare hospitalization. Plan C covers everything in Plans A and B, as well as the deductible for outpatient care and some healthcare outside the United States. The same thing applies for others up to Plan J, which covers all Medicare deductibles and most costs under preventive care. Plans K and L work a little differently from the others. They cover most gaps in Medicare coverage but pay only a percentage of those costs. They make up for these reduced payments by placing a cap on an insured person's total out-of-pocket expenses. After the cap is reached, these policies pay 100 percent of all covered costs.

Medigap health insurance policies are issued through private insurance companies and are particularly important to low and moderate-income beneficiaries aged 65 and above, especially those living in rural areas. However, it is available for everyone enrolled in traditional Medicare Part A and Part B, which pay for hospitalization, doctor visits, and other outpatient care. It is much cheaper when compared to other health care plans since, unlike usual medical health insurance plans, medical supplement insurance or Medigap is much cheaper.

It is important to always stay ahead of everything, including medical expenses. We'll never know when we might fall ill and we'll also never know how much our hospital bills will be. To be sure you're covered for the entire cost of your treatment, get supplementary medigap insurance to fill that gap between your Medicare plan and your actual hospital bill.

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Medicare Advantage Health Plans Offer the Benefit of Predictable Costs

No one likes uncertainty, especially when it comes to money. If you are enrolled in Medicare, you know all to well that Medicare has some gaps in coverage. Medicare is a safety net and was never intended to pay 100% of covered services. Cost sharing with original Medicare includes hospital deductibles, co-pays and co-insurance for outpatient services. The biggest area of uncertainty is outpatient services. Medicare beneficiaries are required to pay 20% of medical costs.

One of the main reasons that individuals enroll in Medicare Advantage health plans is because of the predictable cost. With an Advantage plan, you know ahead of time what your costs will be for any services rendered.

Many Advantage Plans have predetermined co-pays for covered services. Although plan design varies from one Medicare Advantage health plan to the next, medical services with co-pays, may include:

Primary care doctor visits, Visits to a specialist, Urgent care visits, Emergency room visits, Some outpatient testing, Ambulance service and other Medicare covered services

Knowing your costs ahead of time can bring peace of mind. In addition, if you have an idea what your responsibility will be, you may be more likely to seek medical treatment.

Medicare Advantage health Plans can mean certainty.

The biggest benefit that an Advantage plan has to offer, is the feature that ensures beneficiaries have an annual maximum out-of-pocket amount. Original Medicare does not offer a maximum out-of-pocket amount. In the case of outpatient services, you are responsible for 20% of the charges for covered services no matter what that may be.

Medicare Advantage health plans typically give a dollar amount indicating your maximum annual responsibility. When you have reached that amount, through deductibles, co-pays and co-insurance, your responsibility stops and the plan pays covered expenses at 100%.

Advantage Plans often include coverage for additional services not covered by Medicare, such as; dental, vision, hearing and sometimes health club memberships. When on a fixed income, these benefits can make a big difference.

If you are looking for a plan that will ensure predictable costs, you may want to consider a Medicare Advantage health plan.

David Forbes is President of Alliance Marketing Associates, Inc. David offers helpful advice on topics related to insurance for seniors, including finding an affordable Medicare Plan.

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Medicare Supplement Insurance in California

Californians can purchase Medicare supplement insurance from several providers either direct or through an independent agent. Prices are controlled by law, so the monthly premiums will be that same no matter which avenue is chosen.

California allows Medicare supplement providers to offer insurance to those age 65 and above as well as those under age 65 and on Medicare disability. Not all states offer supplemental insurance to consumers under age 65 making CA unique in that regard.

Disability and

Those under age 65 will be afforded a 6 month open enrollment window just like those who age into Medicare. It is important for consumers on disability to explore all of their options during this period of time or they can later be turned down.

That is to say, if the open enrollment window of time has been missed, then medical underwriting may be necessary and those with a disability may not qualify for comprehensive coverage. Those who are accepted into disability, but covered under an employer sponsored plan can later apply for Medigap insurance when they separate from service.

California Medicare Anniversary or Birthday Rule

California is very unique in that it offers a yearly anniversary when Medicare beneficiaries can switch to like coverage. Very few states offer this benefit. The yearly anniversary is also referred to as the "birthday rule" and encompasses the month of the insureds birthday.

During this one month window, consumers can switch Medicare insurance plans so long as they are not upgrading to more comprehensive coverage. If an upgrade is desired, then medical underwriting will be necessary.

Like coverage simply means the same (or less) Medicare supplement insurance coverage. For example, consumers on Plan F can purchase a new Plan F from a competing insurance company in order to lower their monthly premiums. This might be done every couple of years when Medicare supplement premiums have had an above average premium increase.

In summary, residents of CA who are eligible for Medicare have several options available to them when shopping for a Medicare supplement insurance plan. It may be wise to work with an independent agent who can provide quotes from several competing companies. This can help keep monthly rates low at inception as well as in the future.

Consumers owning Medigap insurance above or below age 65 should explore all of their options during their birthday month. This yearly anniversary can be used to purchase like coverage at a lower price, thus maintaining lower premiums each year.

A.M. Hyers has been working in the insurance and investment industry for over 14 years. He owns and operates Hyers and Associates, Inc. an independent insurance agency doing business across the United States. They use several carriers to quote Medicare supplement plans and Medicare Part D coverage for seniors.

His agency offers insurance products in the individual, family, and small business group marketplace. They use the leading national insurance carriers to quote health insurance, health savings accounts, dental, and vision plans.

Other lines of insurance offered include life insurance, disability insurance, and long term care insurance. Additionally, the independent agents of Hyers and Associates Inc. offer fixed, indexed, and immediate annuity policies for individual and group retirement plans.

Affordable Insurance Quotes

California Medicare Supplements

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