medicare Archives - Medigap-Quote.com

Understanding Medicare and Medicare Terminology

May 1, 2017 by Garrett Ball Leave a Comment

*This is Part 1 in a 3-part series designed for people going on Medicare or turning 65. Please contact us if you have any questions about this information or fill out a quotes request if you want to get Medigap quotes.*

Understanding Medicare and basic Medicare terminology is crucial to someone who is coming up on a Medicare start date. If you are on Medicare, or going on Medicare, your health care should be very important to you. Because you are on Medicare through either disability or turning 65, it is important to understand how Medicare works, what it covers, and most importantly, to know what you have and don’t have when you have Medicare.

Medicare, if you don’t already know, is the Federal health insurance program for people over age 65 or disabled. There are several parts of Medicare. First of all, Part A covers hospital/inpatient charges. Everyone gets this when they become eligible for Medicare, as long as he or she has worked 10 years and paid into the Medicare system through payroll taxes for this length of time. There is no premium for Part A in almost all cases.

Part B is optional. If you are still working past age 65, you can decline to take it at age 65. It covers doctor visits, outpatient services, labwork etc. There is a premium associated with Part B. It is dependent, to an extent, on income and varies based on when you started with Medicare. But for most people the current Part B premium is $134/month (2017). This typically is paid as a deduction from your Social Security check. If you are turning 65 and already receiving Social Security, you will be automatically enrolled in Medicare Parts A & B. You’ll receive a card 2-3 months before your Medicare start date, which is the 1st day of the month you turn 65, stating that you will have Medicare Parts A & B. You would have to then notify Medicare if you did not want Part B to start then.

Part C is also an optional part of Medicare. It is also called Medicare Advantage. Medicare Advantage plans are private insurance plans, which replace (or take the place of) Medicare Parts A & B. There are sometimes premiums associated with these plans, and coverage is provided through the private insurance company instead of through Medicare itself. In recent years, there have been many changes to these plans, including reductions in coverage and doctor acceptance. As a result, we do not necessarily recommend them as an advantageous option in most situations. But this is largely dependent on where you live, your income/assets, and your individual health situation.

Part D is the part of Medicare that covers prescription drugs. This is also optional, although there is no prescription coverage in Parts A & B. Also there is a penalty to delay enrollment into Part D unless you have other credible coverage. So, most people enroll in Part D when they are first eligible.

Medigap plans (also called Medicare Supplements) are plans that fill in the gaps in Medicare Parts A & B. These plans are sold by private insurance companies and standardized by the Federal government. Premiums can vary widely on these plans – by state, age, gender, etc. When you go on Medicare, it is crucial to compare Medigap premiums to ensure that you get a good deal on the plan you choose since the premiums vary from company to company for the exact same coverage.

Tomorrow, we will look at more specifics about when you should sign up for the various parts of Medicare, how to do so, and what your other options are.

Medigap-Quote.com is one of the nation’s leading independent brokers of Medigap plans. We work with 30+ companies in 40+ states and work exclusively with this type of insurance. As a result, we can provide unbiased, experienced expertise to those going on Medicare and turning 65. Feel free to contact us or request Medigap quotes online.

Filed Under: Frequently Asked Questions, Medicare A & B Tagged With: how does medicare work, how to get medicare, how to sign up for medicare, medicare, medigap, part a, part b, part c, part d, plan, supplement, supplemental, terminology, what is medicare part d, when do i get medicare

Frequently Asked Question: Does Medicare Cover X-Rays?

May 1, 2017 by Garrett Ball Leave a Comment

Let’s face it – Medicare can be confusing. There are many frequently asked questions that people on Medicare often ask. One of these such questions is whether Medicare covers x-rays and other diagnostic procedures/tests. So, does Medicare cover x-rays? The short answer is, yes, Medicare does cover diagnostic tests and x-rays. Generally speaking, Medicare covers these at 80%. If you have a Medicare supplement plan (a Medigap – NOT a Medicare Advantage – which are not Medicare Supplements) picks up the other 20%.

X-rays are covered under Medicare Part B. Part B covers many outpatient services/procedures, including doctor’s services, ambulance services, outpatient therapy services, some chiropractic care, and home health services, in addition to x-rays and other diagnostic services.

Medicare will only pay for these Part B-covered services if they are medically necessary and performed by a provider that accepts Medicare patients.

Part B is the optional part of Medicare. If you are still working when you turn 65, you are not automatically enrolled in Part B. So, you should make sure that you are enrolled in Part B if you are trying to find out if a procedure was, or will be, covered. To have the full, “original” Medicare coverage, you must have both parts of Medicare – Part A and Part B.

If you have questions about Medicare itself, or Medigap plans, which are designed to fill in the gaps in Medicare and pay what Medicare does not pay – please contact us at 877.506.3378 or on our website at Medigap-Quote.com.

NOTE: If you are facing x-rays or further diagnostic testing, it is likely that you would not be eligible for a Medigap plan at this time UNLESS you are still within your initial open enrollment period (6 months after you turn 65 or start on Medicare). Yet another reason why it is important to get a plan when first eligible or face the possibility of never being able to get one.

Filed Under: Frequently Asked Questions Tagged With: diagnostic tests, does medicare cover diagnostic tests, does medicare cover x-rays, getting an x-ray on medicare, how to file claims to medicare, medicare, medicare part b, original medicare, x-rays

Medigap Changes for 2014

August 6, 2013 by Garrett Ball Leave a Comment

As we approach the end of 2013, a question that we are getting frequently is what is about Medigap changes for 2014. The simple answer to what is changing is “Nothing”. Despite the persistent dissemination of information about “Obamacare”, the changes that are going on in the “under 65” market do not apply to those on Medigap plans.

Medigap plans do change from time to time. The last time that the coverage chart changed was June 1, 2010. See the current Medigap coverage chart. However, these changes do not occur on a year-to-year basis and the coverage on Medigap plans does not change with the calendar year, like it does with Medicare Advantage and Part D plans.

All that said, the rates for Medigap plans in 2014 likely will change with most companies, just as they have in past years. This occurs for a handful of reasons, including but not limited to changes to Medicare co-pays and deductibles, your individual increased age, and claims experiences for your particular Medigap company. These rate changes can happen at any time, though. They do not only happen at the end of the year or during the annual enrollment period.

Any time that your company changes your Medigap rate they must notify you at least 30 days in advance of the change. This is typically done by mail. If/when you receive a change in your Medigap rate, whether it is mid-year or at the end of the year, it is advisable to compare rates on the plan that you have. This can be accomplished very easily and will ensure that you are not paying too much for your coverage.

Due to the standardization of Medigap plans, you can always compare “apples to apples”. For example, if you have a Plan F, you can easily compare other Plan F rates. Or, even more advantageous, you could compare Plan G rates (Plan G is, in almost all cases, a better “deal”). This would give you an idea of how your current plan stacks up against what else is available.

All in all, Medigap plans will go up over time. However, they are not necessarily going up 1/1/14. The upcoming end-of-year enrollment period has nothing to do with Medigap plans – you can change at any time. But, if your rate does go up, now or in the future, it is a good idea to re-evaluate and make sure you have the best deal on your chosen plan.

Medigap-Quote.com is an independent broker of Medigap plans. We work with 35+ companies in 39 states and can help you compare all plans in a centralized place by email. If you have questions or wish to discuss in more detail, request Medigap quotes or call 877.506.3378.

Filed Under: Frequently Asked Questions Tagged With: 2014 medigap plans, how to sign up for a medigap plan, insurance, medicare, medigap, medigap changes, rates, supplement, supplemental, when to change medigap plans

Medicare Part D Help – The Most Confusing “Part” of Medicare

May 28, 2013 by Garrett Ball Leave a Comment

Medicare Part D, for most people, is the most complex and confusing “part” of Medicare. Whereas Parts A & B are pretty straight-forward, Medicare Part D has many intricacies that cause headaches and stress for even the most educated and patient Medicare consumers. This article is intended to be a compilation of important reminders about Part D that will allow you to make an informed decision when it’s time to choose a Part D plan. We’ll look specifically at the questions of when to enroll, what to compare, and which plan to choose.

First of all, the question the is foremost in your decision-making process is when to enroll in a Medicare Part D plan. The easiest answer is that, for most people, you should enroll when either one of two things happens – you turn age 65 (assuming you don’t have other, creditable coverage for prescriptions) or you lose your existing, creditable drug coverage. Medicare charges a “late enrollment penalty” if you neglect to enroll in a Part D plan when you are first eligible. This penalty is 1% of the Medicare standard Part D amount, per month that you don’t enroll after your initial enrollment penalty. This is added on to the premium when you do enroll – and this penalty stays with you as long as you are on Part D. So this a definite downside of not enrolling in at least a basic plan when first eligible, even if your medication needs are minimal.

After that initial enrollment period, you can enroll in, or change, your Part D election during the annual enrollment period, which currently runs from October 15 to December 7 each year.

The 2nd question regarding Medicare Part D is what to compare when looking at the different Part D options. When you are preparing to enroll in a Part D plan, there are several things you will want to do. First of all, it is essential to compare the plans based on any current medication needs. There are usually 25-40 plans in each county, and the coverage/co-pays on these different plans varies considerably. The most effective way to compare the plans is to use the Medicare plan finder which is on Medicare.gov. On this site, you can pull up plans for your county, enter your medications and compare based on the overall annual costs – co-pays, etc. On the comparison that the Medicare website generates, you can view an estimated annual costs, which includes your premium, any deductible, and co-pays for the medications that you have entered. This bottom-line number is what we would recommend that you use to choose a plan in most cases.

That brings us to the next question of which Part D plan to choose. As mentioned above, we would recommend comparing the plans based on current medications usage and choosing a plan that gives you the lowest cost for your medications overall. Other factors to consider when comparing the options are where you can use the plan – most plans have networks and/or preferred pharmacies – and “donut hole” coverage. The Medicare “donut hole”, or coverage gap, is a feature of Medicare prescription drug coverage. Different plans have different ways of handling the “donut hole”, which could be important to you if you are on multiple medications or medications with a high retail cost.

Choosing the right Medicare Part D plan can literally be the difference of thousands of dollars. Plans vary greatly. Medigap-Quote.com does not sell Part D plans, but we do provide the Part D comparison service through Medicare’s plan finder for our Medicare supplement clients on an annual basis (plans change each year). If you have questions or would like to compare your Medicare supplement or Part D plan, feel free to contact us online or call us at 877.506.3378.

Filed Under: Medicare Part D Tagged With: how to sign up for part d, medicare, medicare part d, medicare pdp, part, part b, part d, plan, prescription drug coverage, when to sign up for part d

Medigap Plans, Medicare Advantage, and Part D

May 18, 2013 by Garrett Ball Leave a Comment

*This is Part 3 in a 3-part series designed for people going on Medicare or turning 65. Please
contact us if you have any questions about this information or fill out a quotes request if you want to get Medigap quotes.*

Medigap plans, Medicare Advantage and Part D are additional coverages that you should be considering if you are going on Medicare. Each of these has their own unique designs and advantages/disadvantages. This article is intended to introduce you to each and give you more information to consider about what is right for you.

First of all, let’s take a look at Medigap plans. Medigap plans are sold through private insurance companies, but they are Federally-standardized. What this means is that each company has to offer one of the standardized plan designs. The chart that shows these standardized plans can be seen here. As you can see, Plan F is the most comprehensive plan – it pays what Medicare Parts A & B do not cover at the doctor and hospital, so you should not have any out of pocket expenses. It is, of course, the most expensive. Other common lower-premium, less-coverage options include Plan G and Plan N. Plan G, in particular, is often a better value than Plan F (Read more about Why Plan G is often better than Plan F).

In addition to the coverage being standardized with Medigap plans, the claim payments and doctor acceptance are also standardized. That is, if a doctor/hospital takes Medicare, he or she will take the standardized Medigap plan that you have, regardless of which company sells you the plan. Additionally, claim payments are processed through the Medicare “crossover” system, so the plans, essentially, “follow” Medicare as a supplement and claims are all handled electronically. For these reasons, it is important to compare the Medigap plans on the basis primarily of cost and company rating. These are the two variables that can differ from one company to the next. You can get a Medigap quotes comparison for you area sent to you by email.

Medicare Advantage is entirely different from Medigap. Many people mistakenly lump them in together or call Medicare Advantage plans “Medicare Supplements”. This is not accurate, as Medicare Advantage plans do not supplement Medicare, but rather take its place in paying claims. These plans have networks, and most are either PPOs or HMOs. Often, premiums are lower than the premiums of Medigap plans, but the coverage is typically also lower. They, in most cases, work more like traditional employer/group type plans. There are some distinct drawbacks to this type of plan, in our experience, and we do not recommend them in most instances. Some of the particular downsides are the network restrictions (which are often based on your county or state) and future plan change issues. If you take a Medicare Advantage plan when first eligible for Medicare, you do have to qualify medically to switch to a Medigap plan at a later time.

Medicare Part D is a part of Medicare, but it is sold through private insurance companies. Part D covers prescription drugs. There are typically 20-40 plans in each county, so it is crucial to compare the plans based on how well they cover your current medications. Co-pays and plan premiums can vary greatly. You can do this on Medicare’s website at: Compare Part D plans.

It is important to sign up for Part D when first eligible unless you have creditable coverage. Medicare imposes a 1% per month penalty if you do not sign up for a Part D plan when you are first eligible (you are exempt from this penalty if you have creditable coverage through an employer-type plan). Premiums for Part D typically range from $15/month to $100/month so it is vital to choose a plan that covers your medications and is the appropriate coverage level for your current medication usage. You can change Part D plans during the annual enrollment period which runs October 15-December 7 each year.

This article explains some of the other coverages that go with Medicare, such as Medigap, Medicare Advantage and Part D. If you still have questions or want to discuss further, please feel free to contact us.

Filed Under: Uncategorized Tagged With: advantage, medicare, medigap, medigap plans, part b, part c, part d, plan f, plan g, plan n, plans, quotes, supplement

When and How Should I Sign Up for Medicare?

May 17, 2013 by Garrett Ball Leave a Comment

*This is Part 2 in a 3-part series designed for people going on Medicare or turning 65. Please contact us if you have any questions about this information or fill out a quotes request if you want to get Medigap quotes.*

So, in yesterday’s article, we went over some of the basic terminology associated with Medicare, including the parts of Medicare which are very crucial to understanding what Medicare covers and how it works. Today, we will discuss actually signing up for Medicare – how to do it and when to do it.

First of all, when should you sign up for Medicare? Most people get Medicare due to turning 65 – the exception would be if you receive Medicare due to a disability. Part A (hospital/inpatient coverage) you receive automatically – for Part B, you have the option of taking it when first eligible or postponing it. If you are working and covered through an employer group plan, it is often to your advantage to postpone taking Part B. You should always confirm this with your insurance administrator/HR at your employer, but often, paying for Part B (which as we discussed yesterday is approximately $105/month) is a duplication of the coverage you are receiving through your employer. You can always add Part B later as long as you are covered by the employer coverage, such as when that coverage ends (i.e. retirement or loss of benefits).

If you are not covered by a group plan when you turn 65, you will want to take Parts A & B when first eligible. Medicare always starts on the 1st day of the month that you were born (unless you were born on the 1st of a month in which case it starts on the 1st of the preceding month).

The “how” of signing up for Medicare is pretty straight-forward. First of all, if you are already receiving Social Security at the time you turn 65, you will get Medicare automatically (both Part A & B). You should receive your card approximately 2-3 months in advance of your Medicare start date. If you have not received it by two months before your Medicare should start, I recommend contacting Medicare or going to a local Social Security office.

If you are NOT already receiving Social Security, you should plan to contact Social Security 2-3 months in advance of your eligibility date to sign up for Medicare. You can do this by following the previous link or visiting a local Social Security office. If still working, you can decide through consultation with your employer (if still working) if you are going to take Part B when you are eligible.

This article is intended to help with knowing when and how to sign up for Medicare. If you still have questions, feel free to contact us. Tomorrow, we will discuss additional coverages that you will be considering such as Medigap, Medicare Advantage and Part D.

Filed Under: Frequently Asked Questions, Medicare A & B Tagged With: eligibility, enrollment, how do i sign up for medicare, how should i sign up for medicare, insurance, medicare, medigap, part a, part b, part d, plan, supplement, supplemental, when shoudl i sign up for medicare

Three Part Series Explores Going on Medicare

May 15, 2013 by Garrett Ball Leave a Comment

Going on Medicare for the first time can be a overwhelming, even intimidating thing. There is a lot of information and certainly, a lot of demand for your attention regarding the decisions that you have to make about your health insurance coverage. For most people, these decisions occur in the 3-6 months preceding their 65th birthday. For others, those decisions occur prior to age 65, due to disability, or after age 65, due to working past age 65. Regardless of when they occur, it is certainly an important time with many crucial decisions.

This article introduces a three-part series regarding going on Medicare. The utmost goal is to explain Medicare in terms that anyone can understand – provide the information you can get elsewhere but in an easier to process, straightforward way.

The first post in this series will appear tomorrow, May 16, and subsequent posts will appear on the following two days. We hope you will mark the site and check back to see more information about turning 65 or going on Medicare.

Filed Under: Frequently Asked Questions, Medicare A & B, Medigap Plans Tagged With: comparison, how to get medigap quotes online, how to sign up for medicare, insurance, medicare, medigap, part a, part b, part d, quotes, supplement, supplemental

Best Medigap Plans – What are the Best Medigap Plans in my Area?

February 1, 2013 by Garrett Ball Leave a Comment

The best Medigap plans are, quite simply, the least expensive ones. Sure, service and coverage are always a consideration, but with Medigap plans you can be assured that these factors are standardized. Let’s take a look at what is alike with all Medigap plans:

First of all, Medigap plans all go by the standardized coverage chart (Medigap coverage chart). So all Medigap plans provide the same coverage for “like” plans. In other words, one Plan F is the same as another Plan F from a different company.
Secondly, Medigap plans all pay claims through the Medicare “crossover” system. This system is designed to ensure that all companies are paying claims automatically as secondary to Medicare, without the insured having to file claims or being involved in the process.
Next, all Medigap plans are required to be accepted by anywhere that takes Medicare as primary coverage. So if your doctor takes Medicare, they will, by extension, take any of the standardized Medigap plans.

So if all those things are the same, how do you know which plan in your area would be the best Medigap plan.Well, very simply, you can compare the plans based on premium and company rating. Those are the only two factors that differ from one company to another.

Premium is certainly the most important factor to compare. Since all of the above factors are the same, premium is the primary differentiating factor from one company to another. And, premiums can vary considerably. It is always essential to compare the plans, first and foremost, based on the premiums they charge. The premiums are based on your age and zip code, so they will vary from one person to another, depending on those two factors.

The second comparison factor that you should use when comparing Medigap plans is company rating. A.M. Best is the independent organization that rates insurance companies and that is who many people use to compare the plans. One thing to keep in mind is that these ratings are based on financial stability of the insurance company, and in no way, reflect customer service ratings, etc. That said, A.M. Best ratings can be a good indicator of a company’s financial track record and a good secondary comparison mechanism for Medigap plans.

If you would like to get a Medigap comparison or quotes, please call us at 877.506.3378 or visit us online at http://medigap-quote.com/get-quotes.

Filed Under: Uncategorized Tagged With: 2013 medigap plans, 2014 medigap plans, best medigap plans, comparison, insurance, medicare, medigap, plan, plans, quote, quotes, supplement, supplemental, what are the best medigap plans

Medigap Rate Going Up Mid-Year – Don’t Get Mad, Get Even!

January 30, 2013 by Garrett Ball Leave a Comment

Did your Medigap rate go up in the middle of year? Don’t get mad – get even. Contrary to popular misconception, you can change Medigap plans at any time – not just at the end of the year. So there is no reason to pay “extra” premium since coverage is the same with all of the plans.

So, if your Medigap rates go up – and they will – the first thing you should do is see what other options are available for your age and zip code. It is likely that you can reduce your costs for equal coverage. In most states, there are 50 or so companies that do Medigap plans and each of them may be competitively priced in different areas, at different ages or for different standardized plans.

Many people make choosing a Medigap plan out to be a “lifetime” decision. While it is certainly ideal to choose a plan that is continually the most competitively priced and most financially stable, the reality is that insurance rates go up – Medigap rates go up, just like your homeowners or auto insurance rates. If you do not “shop” it to make sure you have the best deal, put simply, you won’t have the best deal.

So, when your rate goes up, what should you do?

First, pay close to attention to how much it is going up and when. This information will be important to know in “shopping” other rates. Also, make sure you know which plan you have (i.e. G, F, N). Since plans are standardized, you can compare “like” plans.
Second, we recommend that you contact an independent brokerage so that you can compare multiple companies in a centralized, unbiased place. While you can certainly call all of the 50 or so companies individually to get their rates, it does not cost you anything to use an independent broker. In fact, the knowledge that they hold can be invaluable, save you hundreds of dollars and is free to you.
Compare plans with an independent broker. This can typically be done online if you are familiar with using a computer. Be careful about sites that display the rates online. There are two problems with this – it is very difficult to keep (and therefore very unlikely) these rates up to date as rates are always changing. Second, some companies do not allow their rates to be published online, so it is likely that you are receiving partial information. Most agencies will send you this information by email without requesting personal information.
Once you have the information, you can compare “like” plans and make an informed, educated decision. The two factors to look at are rates and ratings. It is best to be with a higher rated company, all other things being equal, but the premium is the most important thing to consider.

If you have any questions about this process or would like to get a Medicare Supplement comparison for yourself (even if your rate didn’t just go up), it is likely that you can save money. You can reach us at 877.506.3378 or online at Medigap-Quote.com.

Filed Under: Frequently Asked Questions, Medigap Plans Tagged With: how to change medigap, how to change medigap plans, insurance, medicare, medigap, medigap annual enrollment period, quote, quotes, rate, rates, supplement, supplemental, when can you change medigap plans

2013 Medigap Rates – How to Get the Best Rate

January 28, 2013 by Garrett Ball Leave a Comment

Medigap rates are easily accessible online in today’s era of modern technology. In year’s past, you would have to contact multiple insurance companies to get rates for their various plans. This could take days of work with little to no way to compare the plans directly against one another. Nowadays, getting rates is a 5-minute process.

First and foremost, it is important to understand that Medigap plans are Federally-standardized. That is, each company is required to provide the exact same coverage for “like” plans. A Plan F is a Plan F, no matter what company you get it from. Also, you must understand upfront that the plans do not necessarily change rates with the calendar year. In other words, there are not 2012 vs. 2013 rates in all cases. Some companies do manage their rates that way (i.e. with the calendar year) but the great majority do not. Since there is not an annual enrollment period for Medigap plans (common misconception) and you can change plans at any time, rates can also change at any time. When your rate changes, it is a good idea to re-evaluate to make sure you are getting the best “deal” since coverage is the same.

Now, once you understand those things – that coverage is standardized and that rates can change at any time – let’s talk about how to go about getting the best possible rate. As mentioned above, you can certainly call each insurance company that does plans in your state to get rates from them. However, this is not the best use of time and certainly not the easiest way to do it. A brokerage is able to help you compare multiple plan options in a centralized place and give you unbiased recommendations based on their clients’ experiences. Some, including Medigap-Quote.com, are able to do this all via email. This is all, of course, at no cost to you – in fact, you are paying for it as part of your premiums anyway, whether you realize it or not.

We would recommend doing a comparison of the available Medigap plans on an annual basis. This gives you the ability to insure that you are not paying too much for one of the standardized plans. Changing plans is very easy to do if you find that you can save money by doing so.

If you want a chart showing quotes for your age and zip code or if you have questions about this information, please call us at 877.506.3378 or request quotes at http://medigap-quote.com/get-quotes.

Filed Under: Medigap Plans Tagged With: 2013, how to get medigap rates online, insurance, medicare, medigap, medigap quotes online, quote, quotes, rate, rates, supplement