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Medicare Supplement Insurance Plans

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Choosing A Medicare Supplement

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Many seniors don’t want or need the out of pocket surprises, the “prior authorizations”, the denied claims or sudden change of doctors and hospitals, that can happen with HMOs and PPOs.

In order to get the right plan, and the best price for that plan, here are some things that seniors should know when making choices:

• Medicare Supplement (Medigap) plans can be used at any provider that accepts Medicare patients.

Seniors using a Medigap plan have the freedom to choose any doctor or hospital that accepts Medicare patients—they are not restricted to HMO or PPO networks.

• Medicare—not the insurance company—makes the decisions about what is covered.

Seniors using a Medigap plan don’t have to worry about prior authorizations and denied claims. If Medicare covers the procedure, the Medigap plan pays the 20% “gap” in coverage.

• Medicare Supplement plans can be shopped—and changed—any time of year.

Medigap plans are not restricted to annual enrollment/disenrollment periods like Medicare Advantage plans and Part D drug plans.

• Medicare Supplement plans are standardized (different insurance companies must offer the same exact Plan F, Plan G, Plan N, etc.)

Be aware that different insurance companies can charge different prices for the same exact plan.

The greatest value we can share with you is our knowledge. If you have any questions regarding Medicare insurance, please contact us.

Become a Medicare Supplement expert in just minutes using our online screen sharing with a licensed agent. Call us today!

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Better choices…Medicare Supplement savings.

Plan F not available to those new to Medicare after Jan. 1, 2020

The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) included changes to Medigap plans that effects “newly eligible” Medicare beneficiaries after January 1, 2020.

“Newly eligible” is defined as anyone who is turning 65 on or after January 1, 2020 or anyone who is eligible for Medicare benefits due to age or disability as defined by the Centers for Medicare and Medicaid Services (CMS) on or after January 1, 2020.

As of January 1, 2020 MACRA prohibits sales of Medicare Supplement (Medigap) Plans C and F to those “newly eligible” for Medicare.

The law makes Plans D and G the new guaranteed issue plans for those who are “newly eligible” within the guaranteed acceptance rules for Medicare Supplement plans.

The law also mandates that a Social Security Number can no longer be used as an identifier. This part of the law has already gone into effect and all current eligibles should have already received their new Medicare ID card with the new Medicare identifiers.

 

Medicare Still Not Seeing Aggregate Savings From MA Plans

After 20+ years Medicare Advantage plans still fail to provide savings for the Medicare program. Read about it here:

Fierce Healthcare: MedPAC is asking Congress to change how MA payments are calculated

BTW, Your Annual Flu Shot Is A No-Cost Preventive Service Under Part B Of Medicare

(download complete Your Guide to Preventive Services PDF pamphlet)

Changes In Part D for 2021

The Centers for Medicare and Medicaid Services made some changes to the way you create and store your prescription drug list for your Part D prescription drug plan. Medicare beneficiaries are now able to create an account at Medicare.gov to save prescription drug lists, keep track of claims, etc. Creating an account is easy. Check out the video.

CDC Official Coronavirus Information Page

Here’s a good place to check for updates on all things Coronavirus:

cdc.gov/coronavirus/2019-ncov

A More Reasoned Explanation of the 2020 Trustees Report

From www.SocialSecurityWorks.org

Often, the release of the annual Trustees Report leads to lamentations from many observers that “Congress has no plan to address Social Security’s projected shortfall.” That is incorrect. Read all about it here.

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