Insurance 4 Insurance

Most people in Original Medicare Plan have some type of additional coverage to pay for care that Medicare doesn’t cover. Medicare supplemental insurance now provides prescription drug coverage as a Medicare benefit. As a result, prescription drug coverage is no longer available as part of Medicare supplement insurance.

Buying a Medicare Supplemental Insurance policy is one way to cover Medicare’s gaps. However, before you rush to buy a Medigap policy, you might want to first check into several other types of coverage that may cost less. If you decide that these options aren’t for you, we give steps to help you select the Medigap policy that’s right for you.

Here are some of the other health coverage options to explore:

Medicare Savings Programs
Medicaid
Retiree Health Insurance
Prescription Drug Assistance Programs

Medicare Savings Programs

Medicare Savings Programs help people with low incomes and limited resources pay for some of their Medicare costs. Some of these programs pay for some or all of Medicare B premiums. One program pays Medicare’s deductibles and coinsurance.

Medicaid

Medicaid is a federal and state insurance program that helps people with low incomes and people who are disabled pay their health care costs. If you qualify for Medicaid and also have Medicare, almost all of your health costs are covered. You may also get extra benefits such as prescription drugs.

Retiree Health Insurance

Find out if you can get retiree health insurance from your or your spouse’s former employer or union. If you can get it, it may cost less than a Medigap policy and have more benefits, such as prescription drugs.

Medicare supplement insurance fills the “gaps” between Medicare benefits and what you must pay out-of-pocket for deductibles, coinsurance, and co-payments. Therefore, it is often called Medigap insurance. Medigap policies only pay for services deemed by Medicare as medically necessary, and payments are generally based on the Medicare-approved charge.

Group Medicare Supplement Insurance:
Your rights with a group Medigap policy are essentially the same as with an individual policy. Because the group might make decisions that are out of your control, you have the following additional protections:

If the group changes insurance companies, the new company must offer coverage to everyone previously covered. The new Medigap policy must cover pre-existing conditions that were covered by the old policy.

If you leave the group, the insurance company must offer to provide unbroken Medigap coverage with an individual policy or continuation of your group insurance.

If the group cancels its coverage, the insurance company must offer you either an individual policy continuing the benefits you had before or a different policy meeting requirements.

Medicare Supplement insurance is available from several insurance companies and insurers. These policies cover some of the expenses not paid by Medicare.

Most people in Original Medicare Plan have some type of additional coverage to pay for care that Medicare doesn’t cover. Medicare supplemental insurance now provides prescription drug coverage as a Medicare benefit. As a result, prescription drug coverage is no longer available as part of Medicare supplement insurance.

Buying a Medicare Supplemental Insurance policy is one way to cover Medicare’s gaps. However, before you rush to buy a Medigap policy, you might want to first check into several other types of coverage that may cost less. If you decide that these options aren’t for you, we give steps to help you select the Medigap policy that’s right for you.

Here are some of the other health coverage options to explore:

Medicare Savings Programs
Medicaid
Retiree Health Insurance
Prescription Drug Assistance Programs

Medicare Savings Programs

Medicare Savings Programs help people with low incomes and limited resources pay for some of their Medicare costs. Some of these programs pay for some or all of Medicare B premiums. One program pays Medicare’s deductibles and coinsurance.

Medicaid

Medicaid is a federal and state insurance program that helps people with low incomes and people who are disabled pay their health care costs. If you qualify for Medicaid and also have Medicare, almost all of your health costs are covered. You may also get extra benefits such as prescription drugs.

Retiree Health Insurance

Find out if you can get retiree health insurance from your or your spouse’s former employer or union. If you can get it, it may cost less than a Medigap policy and have more benefits, such as prescription drugs.

Medicare supplement insurance fills the “gaps” between Medicare benefits and what you must pay out-of-pocket for deductibles, coinsurance, and co-payments. Therefore, it is often called Medigap insurance. Medigap policies only pay for services deemed by Medicare as medically necessary, and payments are generally based on the Medicare-approved charge.

Group Medicare Supplement Insurance:
Your rights with a group Medigap policy are essentially the same as with an individual policy. Because the group might make decisions that are out of your control, you have the following additional protections:

If the group changes insurance companies, the new company must offer coverage to everyone previously covered. The new Medigap policy must cover pre-existing conditions that were covered by the old policy.

If you leave the group, the insurance company must offer to provide unbroken Medigap coverage with an individual policy or continuation of your group insurance.

If the group cancels its coverage, the insurance company must offer you either an individual policy continuing the benefits you had before or a different policy meeting requirements.

Medicare Supplement insurance is available from several insurance companies and insurers. These policies cover some of the expenses not paid by Medicare.