When it comes to Medigap Insurance, Medicare Supplement Insurance or Medigap plans, you get the same 10 plans no matter what you call them. These plans must comply with government laws that standardize your benefits and coverage. You can be sure that you’re getting the same basic coverage with a Medigap Plan A, for instance, regardless of which insurance company offers it. That means you can shop for the lowest price on any of the 10 plans without worrying that you’re giving up any coverage at all.
Next, you don’t have to worry about customer service either. All 10 Medigap plans automatically work with Original Medicare and service is consistently high because there’s little room for error. When Medicare pays for 80 percent of a doctor’s fee, Medigap pays for the remaining 20 percent. The Medicare Rights Center reports few problems with Medigap payments. If your Medigap plan reimburses you for Medicare’s Part A or Part B deductibles, you don’t have to worry about meeting any criteria to get your reimbursement.
You can even find Medigap plans that cover expenses that Medicare never covers, such as emergency medical care when you’re on vacation outside of the country. If you’re worried about needing a specialist who won’t accept Medicare’s standard payment rate, Medigap plans can even pay for the difference between doctors’ charges and Medicare’s payments.
You can take a look at what all 10 Medigap plans cover and learn from the nation's leading independent agency specializing in Medigap Plans. You’ll find everything you need to compare, choose and enroll in a plan at www.MediGapAdvisors.com/, but we offer more…just click here to reserve your space for the free, live How to Get the Most from Medicare teleseminar. Could it get any easier than that?
Sunday, October 24, 2010
Sunday, October 17, 2010
Medicare Supplement Insurance: How to Win the Pricing Game
When you’re looking for the best way to protect yourself from the gaps in your Medicare coverage, there are four things you need to know.
First, there’s a big difference between Medicare Advantage plans and Medicare Supplement plans. Even though both are provided by private insurance companies, Medicare Advantage plans replace Original Medicare while Medicare Supplement plans expand Original Medicare. Here’s an even more important difference. Because Medicare Advantage plans cost the government more than Original Medicare, poorly performing Advantage plans will see cuts to their government subsidies. To make up for that loss, many are expected to raise premiums. That’s not true for Medicare Supplements, which are also called Medigap plans.
Second, every Medigap plan with the same name, such as Plan A, has the same benefits and coverage. You won’t get anything more from a more expensive Plan A than you’ll get from a lower priced Plan A.
The third thing you need to know is that Medigap plans are priced by what is known as “attained age,” “issue age” and “community rated” strategies. Attained age policies may start out offering the lowest prices (especially when you’re 65), but their premiums rise steadily so they can turn out to be the most expensive plans over time. Issue age policies (based on your age when you apply) don’t automatically charge more as you age. Their rates are based on health care inflation.
Community rated policies don’t reflect your age at all. Everyone in the same location (community) gets the same price and your premiums won’t go up simple because your age does. While issue age and community rated policies may cost more initially, their premiums won’t rise as aggressively over time.
Fourth, you can get the best price of a lifetime on Medigap plans during your open enrollment period. That’s because insurers cannot use medical underwriting to evaluate your health during that special six-month period. They cannot exclude any pre-existing problem, cannot charge you more than normal, and cannot refuse to insure you regardless of your health.
Find out when you can take advantage of that special six-month deal and other ways you can win the Medicare supplement pricing game. Visit MediGap Advisors online at www.MediGapAdvisors.com/ or call their friendly receptionist at 866 323-1441. You can get the answers you need – including professional assistance to compare plans to your situation - all at no charge and with no obligation. MediGap Advisors believes that the best customers are educated customers so you get all the help you need with none of the sales hype.
First, there’s a big difference between Medicare Advantage plans and Medicare Supplement plans. Even though both are provided by private insurance companies, Medicare Advantage plans replace Original Medicare while Medicare Supplement plans expand Original Medicare. Here’s an even more important difference. Because Medicare Advantage plans cost the government more than Original Medicare, poorly performing Advantage plans will see cuts to their government subsidies. To make up for that loss, many are expected to raise premiums. That’s not true for Medicare Supplements, which are also called Medigap plans.
Second, every Medigap plan with the same name, such as Plan A, has the same benefits and coverage. You won’t get anything more from a more expensive Plan A than you’ll get from a lower priced Plan A.
The third thing you need to know is that Medigap plans are priced by what is known as “attained age,” “issue age” and “community rated” strategies. Attained age policies may start out offering the lowest prices (especially when you’re 65), but their premiums rise steadily so they can turn out to be the most expensive plans over time. Issue age policies (based on your age when you apply) don’t automatically charge more as you age. Their rates are based on health care inflation.
Community rated policies don’t reflect your age at all. Everyone in the same location (community) gets the same price and your premiums won’t go up simple because your age does. While issue age and community rated policies may cost more initially, their premiums won’t rise as aggressively over time.
Fourth, you can get the best price of a lifetime on Medigap plans during your open enrollment period. That’s because insurers cannot use medical underwriting to evaluate your health during that special six-month period. They cannot exclude any pre-existing problem, cannot charge you more than normal, and cannot refuse to insure you regardless of your health.
Find out when you can take advantage of that special six-month deal and other ways you can win the Medicare supplement pricing game. Visit MediGap Advisors online at www.MediGapAdvisors.com/ or call their friendly receptionist at 866 323-1441. You can get the answers you need – including professional assistance to compare plans to your situation - all at no charge and with no obligation. MediGap Advisors believes that the best customers are educated customers so you get all the help you need with none of the sales hype.
Friday, October 8, 2010
Medigap Plans: What You Need To Know If You Have A Medicare Advantage Plan
Wow, are things getting busy around here. There is a "Special Election Period" going on now for people who's Medicare Advantage plans are not renewing next year. This gives these people the oportunity to sign up for a new Medicare Advantage plan, or for Original Medicare along with a prescription drug program.
Even if you are enrolled in a Medicare Advantage plan, expect to see your benefits reduced and your premiums go up in the coming years. Some insurers will probably stop offering Medicare Advantage plans completely. Why are these plans in jeopardy?
Medicare Advantage plans have been known for providing more than Original Medicare, but Medicare is expanding benefits next year. If you’re enrolled in Original Medicare, you will no longer have to pay for an annual check-up and recommended preventive services. You won’t have to pay for co-insurance charges or have to meet a deductible for that care.
The federal government has been giving private insurance companies subsidies to manage Medicare Advantage plans. Since it now costs on average 14 percent more to cover people through Advantage plans than it does through Original Medicare, the government is freezing payment rates for Advantage plans next year. For two years, “higher quality” Advantage plans will get a bonus, while other Advantage plans will get rate reductions. Rate reductions will probably drive premiums higher.
Along with other reforms, such payment reductions are expected to save more than $177 billion over 10 years and even lower the Medicare Part B premiums. Payments to doctors who accept Medicare are not being cut, and primary care physicians and general surgeons in areas with a shortage of such providers will get a 10 percent bonus.
If you switch to Original Medicare, you may qualify for a Medicare supplement plan. In June 2010, two new Medigap plans with low premiums became available. With a selection of 10 Medigap insurance plans, you can find everything from minimal benefits in Plan A to comprehensive coverage in Plan F. For expert assistance to compare Medigap to your needs, visit MediGap Advisors online at www.MediGapAdvisors.com/ or call our friendly receptionist Janice at 1 866 323-1441. She’ll assign you a Personal Advisor, a licensed agent, to search for plans from A-rated insurance companies that meet your specifications – all at no charge or obligation.
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