As people get closer to 65, they start thinking about Medicare. A Texas Medigap Insurance Plan may be the best option when needing help to pay medical bills. While Medicare does pay some, it doesn’t pay all.
Medicare Part A – This part covers staying in the hospital. There is a deductible which can be “reset” and must be paid again based on some circumstances.
Medicare Part B – This part covers visits to the doctor. Medicare generally pays 80%, and the patient generally pays 20%. There is also a monthly payment as well as a yearly deductible.
These bills could add up fast. Part A and B takes care of only a portion of the costs. This is where Texas Medigap Insurance can help out a lot. The different Medicare Supplement plans in Texas cover near to all of the costs that Part A and B don’t cover based on the Plan you choose.
Each Medigap plan (A through N) gives different coverage, however all plans cover the “basic” benefits such as:
Each company that provides Medigap insurance regardless of state provides identical coverage within each plan letter. For example, Plan F with Blue Cross Blue Shield is the same as Plan F with Gerber Life. The monthly premiums for each plan can and do vary widely.
Companies don’t have to provide each Plan Letter, and each State makes its own laws.
Medicare Supplement Plan F: This Plan gives 100% coverage and pays for all of the “gaps” that Medicare Part A and B do not pay. Skilled Nursing coinsurance is covered up to 100 days as well as the access charges of Part B.
Medicare Supplement Plan G: This Plan pays for the big charges Medicare doesn’t pay for. The Part A deductible is paid for, but this Plan does not pay the Part B deductible. Blood-work and Skilled Nursing coinsurance are covered as well as hospital bills.
Medicare Supplement Plan N: This plan became available June 1, 2010. Plan N has no network restrictions, low premiums, and low out-of-pockets costs, but it does not cover Part B excess charges or the Part B deductible.
No one can be denied any Medicare Supplement policy sold by any Medigap Insurance company if they apply during the 6 month period that begins with the first day of the first month in which an individual first enrolls for insurance coverage under Medicare Part B at age 65 or older; or upon attaining age 65 for individuals that were previously enrolled in Medicare Part B prior to turning age 65.
Coverage and costs differ with all of the Medigap plans. We can help you decide which Medicare Supplement Plan fits your needs and find you the lowest premium year-after-year!