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Medicare

Medicare 101: Which Part Is Best For You? 

medicare 101

Medicare 101: Either you are close to the age of 65, deciding to buy Medicare or you are here just to acquire a clear understanding of Medicare. Both ways, this blog will definitely help you. 

Knowing about Medicare and every part of it will help an individual to make the right pick. So, keep reading! 

Medicare

It is a well-known national health insurance program for the citizens and some permanent legal residents of America. In the present age, over 60 million U.S citizens are enrolled in Medicare. 

There are certain basic eligibility criteria to qualify for Medicare. When a person turns 65, he or she can avail this plan depending on his or her employment record or that of his/her spouse. 

In addition to this, people under the age of 65 who have qualifying disabilities are covered by Medicare, too.

Children with serious health issues who are about to turn 18, it’s vital to examine whether they should register for Medicare. According to the Affordable Care Act, people can cover their children under their own policy up to age 26.

At the same time, Medicare has also changed over the years. Today, it has a total of four parts. Some of them are compulsory, others are optional.

medicared 101 parts

PART A: Hospital Insurance

This part of Medicare primarily covers the hospitalization expenses. When a person enrolls in Medicare, he/she automatically acquires Part A. 

Following are some of the services mainly covered under part A: 

  • Tests 
  • Surgeries 
  • doctor visits
  • Inpatient care in hospitals 
  • Skilled nursing facilities 
  • In-home hospice care 
  • Home healthcare services 
  • Inpatient care 

This plan may seem straightforward; however, it is not. 

For instance, Part A covers in-home hospice care but not a stay in a hospice facility. Besides, if a person is hospitalized, a deductible is applied, and if he/she stays for over 60 days, then he/she may have to pay Part A for each day. That implies, if you get admitted to a hospital numerous times in a year, then you will have to pay a deductible every time.

PART B: Doctors & Tests

This part provides coverage for a number of medical services such as: 

  • Doctor’s visits 
  • Medical equipment 
  • Outpatient care 
  • Outpatient procedures 
  • The purchase of blood 
  • Mammograms 
  • Cardiac rehabilitation 
  • Cancer treatment.

A person who doesn’t have “creditable coverage” from any other source should enroll in Part B. 

On the other hand, if a person doesn’t enroll and doesn’t have creditable coverage from any other source, then he or she will have to pay a hefty penalty.

The deductible for Part B coverage is $198. When a person pays the deductible, he or she will have to pay 20 percent of the Medicare-approved expense of the service. 

PART C: Medicare Advantage

This plan is also termed as Medicare Advantage. It is another option for traditional Medicare coverage. 

Part C coverage is a mixture of both Parts A and B. This coverage is administered by private insurance firms that usually collect Medicare payments from the federal government.

It completely depends on the plan if a person wants to pay an extra premium for Part C. 

One doesn’t have to enroll in an advantage plan. However, for many individuals out there, Part C is a better deal than separately paying for Parts A, B, and D.

Read More: Best Medicare Advantage Plans

PART D: Prescription Drugs

Prescription drug coverage is also known as Part D. This coverage is administered by private insurance firms. 

Part D is provided to people who have a prescription drug plan from any other source such as any Medicare Advantage plan. 

It completely depends on the plan if a person is supposed to meet an annual deductible before his or her plan starts. 

Medicare plans also have a coverage gap, i.e. a temporary limit on what the drug plan will actually cover. This gap is often termed as the doughnut hole. It kicks in after a person spends a certain amount in combined expenses.

Medigap

In order to close the aforementioned gaps, you can enroll in some form of Medigap insurance or in a Medicare Advantage plan.

Keep in mind that Medigap only supplements Medicare. Never, consider it a stand-alone plan. Also, if your physician doesn’t accept Medicare, then Medigap insurance will also not provide any coverage.

Now that you learned all four parts of Medicare, we hope you will pick the right plan for yourself. 

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Medicare

Doctors Not Accepting Your Medicare? Here’s What You Can Do!

Doctors Not Accepting Your Medicare

There is nothing better than having a medical plan in place. Healthcare programs like Medicare not just aids individuals but also saves them a lot of money. Unfortunately, not every doctor out there takes Medicare from patients. As a result, the patients have to pay hefty out-of-pocket costs. However, we are here with some effective options one can consider in such cases to avoid burning a hole in his or her pocket. 

Today, most people have a single doctor and they might be visiting this doctor for more than 20 years. In this case, the doctor might know you inside and out. He or she will know what works best for you and whatnot, which is exactly the foremost reason you are still visiting him or her. 

But it may really break one’s heart when they learn that his or her favorite doctor does not accept a Medicare plan. If you are also one of them, this blog is meant for you, my friend! 

Keep reading! 

Medicare

First thing first, one should have a clear picture of Medicare. So, it is a well-known healthcare program sponsored by the federal government. 

Medicare provides medical insurance for all the citizens of America who are aged 65 and more. 

In the year 1965, President Lyndon B. Johnson signed Medicare into law and in the following year, 19 million American citizens enrolled in it.

Today, the aforementioned number has increased to over 57 million, which is more than 18 percent of the United States population. 

Also Check: 5 Reasons why Medicare is necessary

Solutions When Your Doctor Says No To Medicare

Due to the federal program’s low reimbursement rates, stringent rules, and grueling paperwork process, various doctors in America have started to refuse Medicare’s payment for services. 

In the year 2000, about 80 percent of the Texas Medical Association’s doctors accepted new Medicare patients. But in the year 2012, that number was dipped down to less than 60 percent.

Medicare basically pays doctors a total of 80 percent of what private health insurance pays. A number of doctors feel that Medicare reimbursements have not kept pace with inflation in the past several years, particularly the expenses of running a medical practice. Needless to mention, the rules & regulations also get heavier, as do penalties for not complying with them. 

So, here are some of the options you can consider if your doctor doesn’t accept Medicare:

  • Stay Put & Pay The Difference

If your doctor is not taking Medicare, then it may be because he or she has not yet signed an agreement to accept assignment for all Medicare-covered services. However, he or she can still take an assignment for an individual patient. 

In simpler words, doctors may take Medicare patients but not concur with the program’s reimbursement rates. Such doctors are normally termed as nonparticipating providers and they can charge about 15 percent over the official Medicare reimbursement amount. 

  • Request A Discount

In case your physician is an opt-out provider, then he or she may be ready to accept Medicare patients but at the same time, they also expect to be paid his or her full fees. So, in this case, you should request for a possible discount. Being your doctor for so many years, he or she is likely to give you a good discount. 

Also Check: Best Medicare Advantage Plans For 2020

  • Go To An Urgent Care Center 

Urgent care centers are a well-known place where people go to fulfill their health care requirements. As per the American Association of Pediatrics, there are over 4,000 to 9,000 urgent care centers in the United States.  So, if you have any minor illness you should avoid going to a doctor and consider one of these clinics. 

  • Ask Your Doctor For A Referral 

If nothing works out and you just cannot afford your favorite doctor, then you should consider anyone else at the earliest. To make your task a little bit easier, ask your doctor to recommend some excellent doctor in your area who does take Medicare. 

  • Search Via Medicare’s Directory 

Just because your doctor doesn’t accept Medicare, it doesn’t mean that no doctors in the U.S accept the same. You can find a number of doctors who accept Medicare. 

Just invest some time and check in the Medicare’s Physician Compare directory. It will provide you a long list of doctors & healthcare providers around the United States.

We hope this blog helped you to know how to deal with your doctor who is stubbornly refusing to take Medicare. 

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Medicare

Difference Between Medicare And Medicaid

Medicare vs Medicaid

If you often get confused between Medicare and Medicaid, then this blog will surely help you to understand both the terms easily. Keep reading!!

Medicare and Medicaid are two different national health insurance programs sponsored by the government of the United States. Both programs are particularly designed to cover healthcare expenses for an American citizen. Established in the year 1965 and funded by taxpayers, both Medicare and Medicaid sound somewhat similar and this normally triggers confusion. Most people don’t know how both programs work and what is the coverage provided by them.

Let’s dig deeper and know more about Medicare and Medicaid!!

Difference Between Medicare And Medicaid-

Medicare 

The Medicare program provides healthcare coverage to every U.S. citizen. A person who is 65 years of age or older and people with certain disabilities are eligible to acquire this medical program. It is a four-part program that consists of the following:

  • Part A: Hospitalization Coverage-

Medicare Part A offers hospitalization coverage to a person who is 65 years or older, regardless of the total income. 

In order to qualify for this program, a person or his or her spouse should have worked and paid Medicare taxes for a minimum of 10 years. 

The majority of the people do not pay a premium for Part A, however, deductibles, as well as coinsurance, applied.

  • Part B: Medical Insurance-

People who qualify for Medicare Part A also become eligible for Part B. Part B includes medically essential services as well as equipment including doctor’s office visits, lab work, x-rays, wheelchairs, walkers, and outpatient surgeries. 

In addition to this, various preventive services including disease screenings and flu shots are also offered.

For the year 2020, the standard premium of Part B is $144.60, which is usually deducted from Social Security or Railroad Retirement payments. Both Deductibles, as well as coinsurance, are also applied. People who earn over $87,000 in a year and couples who earn $174,000 are made to pay more in this program.

No individual is mandated to sign up for a Part B plan if he or she is covered by his or her employer’s insurance. But then it can cost more to join this plan later in life as it may include a late-enrollment penalty afterward.

  • Part C: Supplement Insurance-

A person who is eligible for both Medicare Part A and Part B is likely to be eligible for Part C as well, which is known as Medicare Advantage. These plans are generally provided by private companies, which are approved by Medicare.

Part C provides coverage provided under both Parts A and B. A person can avail vision, hearing, and dental coverage with Plan C. In simpler words, it works somewhat like the health maintenance organizations (HMOs) and preferred provider organizations (PPOs) that help working people to acquire medical services during their service period.

Enrolling in Part C cuts down the total expenses of buying services. One should wisely analyze his or her medical requirements before choosing this plan. 

  • Part D: Prescription Drug Coverage-

Medicare Part D offers people with prescription drug coverage. An individual pays for this plan out-of-pocket as well as he or she should pay premiums on a monthly basis, deductibles on a yearly basis, and copayments for various prescriptions.

People who are enrolled in Medicare Part C are ultimately eligible for this plan as well.

Also Check: 5 Reasons Why Medicare Is Necessary

Medicaid

Medicaid healthcare program is a joint federal & state program. It allows low-income American citizens of every age to pay for the expenses related to medical as well as long-term custodial care. 

Children who require low-cost care but their families earn a decent income to be eligible for Medicaid, are covered through the Children’s Health Insurance Program (CHIP). CHIP has its own set of rules & requirements.

The advantages of Medicaid differ from state to state. However, the Federal government mandates it for numerous services, such as:

  • Hospitalization
  • Laboratory services
  • X-rays
  • Doctor services
  • Family planning
  • Nursing services
  • Nursing facility services
  • Home healthcare for people eligible for nursing facility services
  • Clinic treatment
  • Pediatric & family nurse practitioner services
  • Midwife services

In addition to this, every state also has an option to include various extra benefits, including: 

  • prescription drug coverage 
  • optometrist services 
  • Eyeglasses 
  • medical transportation 
  • physical therapy 
  • prosthetic devices 
  • dental services 

Often, Medicaid is also utilized to fund long-term care that is not covered by Medicare as well as by most of the private health insurance policies. 

Medicaid is believed to be the biggest single source of long-term care funding in America. It also covers the expenses associated with nursing facilities for people who spend their whole savings to meet healthcare costs and are left with no other option to pay for nursing care.

So, that was all about Medicare and Medicaid. We hope this blog helped you to get a clear picture of the difference between both healthcare programs. 

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Medicare

AFFORDABLE MEDICARE PLANS

As a Medicare recipient, you may also wonder what all are the affordable plans that are available in your location. However, operating many plans and at the same time keeping track of available plans can be a bit time-consuming task.

We will help you to make your task easier. Read every point thoroughly before starting your hunt for a cheap plan:

ARE YOU ALSO SEARCHING FOR A FEASIBLE PLAN?

While Part A of Medicare is free to many of the recipients, Part B of Medicare has a premium.

The premium of Medicare Part B becomes more for the higher-income recipients in some rare situations.

While Medicare Part A offers hospital benefits along with all the services throughout your hospital stay, Part B offers outpatient benefits including ER visits, physical therapy, outpatient surgeries, diagnostic imaging as well as labs and doctor’s office visits. The remaining 20% is the accountability of the recipient to pay off the out-of-pocket.

Also, this 20% can effortlessly add up or cost beneficiaries a lot in out-of-pocket costs. 

Other than Part A & Part B of Medicare, there are two more options for feasible plan which you can add to your Original Medicare:

  • Advantage Part C – Plans under Part C can be PPOs or HMOs & also provide extra benefits such as coverage for dental or vision and prescription.
  • Prescription Part D 

KNOW ABOUT MEDICARE PREMIUMS

Most of the people assume that Medicare is just free. However, it is not completely true as beneficiaries have to pay premium every month for their respective coverage. But, Part A is free for many people.

Every recipient has to spend a standard premium for their Part B. But, you will have to pay a little extra if your total income exceeds a certain amount.

When you sign up in a Part C plan, still you will have to pay the premium for Part B. In fact, you will also have to pay an extra premium to your insurance provider based on your selected plan.

Premiums of Part D differ based on your insurance provider as well as the benefits of your plan. But you will have to pay an extra premium if your total income exceeds a certain level.

AFFORDABLE MEDICARE SUPPLEMENT PLANS

Medigap or Supplement plans basically function with Medicare benefits. While Medicare covers 80%, Supplement plans offer some of the secondary benefits for many other health care costs.

Various pricing methods in the Medicare Supplement Plan:

  • Issue-Age– in this the premium is acquired from the age in which you purchase your Medigap Plan
  • Attained-Age– In this, the premium is acquired from the age in which you purchase the plan but it will gradually increase with your age
  • Community-Rating– In this, the premium is the same. Because of your location and your age is not considered.

TOP AFFORDABLE MEDICARE PLANS

  • Plan G 

This benefits of this plan include coverage for the Medicare Part A deductible and also the 20% copayments & coinsurance.

It will also provide coverage for your additional medical emergencies & charges when you travel abroad. However, it does not provide coverage for your deductible of Part B.

  • Plan N 

This plan is one of the four “cost-sharing” plans. Plan N is also a well-known affordable Medigap Plans. But it does not provide many benefits. Plan N basically provides coverage for the deductible of Part A as well as some medical emergencies when you travel to a foreign country and also the 20% that is not covered by Medicare.

  • Plan C 

Plan C is known as the second most affordable supplement plans after Plan G and Plan N.

While Plan C does not offer coverage extra charges, it does offer coverage for your Part B deductible.

Now, it is you call!!

Pick up an Affordable Medicare Plan for yourself or switch from your existing plan, if you wish.

 

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Medicare

5 Reasons Why Medicare is Necessary!!

5-REASONS-WHY-MEDICARE-IS-NECESSARY

Most of the seniors who approach their Medicare eligibility wonder, “Is Medicare a good plan?”

We agree, there are times when Medicare plans also get some bad reviews. Recipients do complain about prices of prescription drugs & even the coverage issues mainly for long-term care.

Also Read: Top 5 Medicare Plans of 2020

If you are near to reach Medicare eligibility, then it is very important to treat Medicare with an appropriate mind as well as actions. Keep in mind that your plan can be different from your union healthcare plan or employer healthcare plan and this is completely based on the plan & coverage you select. However, Medicare comes with a lot of new things.

Do you know the 5 reasons why Medicare is necessary? If not, keep reading!!!

1) PREMIUM OF MEDICARE IS LOW THAN PRIVATE HEALTH PLAN

HEALTH PLAN

People who qualify for Premium Free Part A, they have to only pay for their premium of Part B for Original Medicare coverage.

While the premium of Part B is $ 135.50, the average monthly premium of private healthcare plans is around $ 403 (in 2019).

Plus, the premium of Medicare rises slower than other private healthcare plans. Since 2013, the premiums of private insurance increased by 123% and the premium of Part B increased just by 25% or $ 30 per month.

And you will be happy to know that you will now pay lower premiums for Medicare in the year 2020. Now, does that ever occur in the private insurance plans?

Also Read: Choose Top Rated Medicare Plans For You

2) PEOPLE WHO NEED ADDITIONAL HELP CAN ACQUIRE IT

PEOPLE WHO NEED ADDITIONAL HELP CAN ACQUIRE IT

After understanding the fact that Medicare is the only facility for seniors, the government designed the plans in a way that even the limited income-earning community can enjoy the benefits. You can avail both state as well as government programs to cover your premiums of Part B along with coinsurance, copayments and deductibles amounts. In fact, the Part D prescription drug program is created with an income-based program in order to reduce the expense of medications.

And if you are lucky enough to get qualified for both Medicaid & Medicare, you can sign up in a special Medicare Advantage plan which offers coverage for all your health care requirements such as prescription drug without any monthly premiums.

3) AMPLE OF OPTIONS

AMPLE OF OPTIONS

 

If you own coverage for the employer, you will be pretty much aware that the insurance holder is bound to go along with whatever the insurance company provides in terms of healthcare insurance. No matter if your coverage is benefitting or not, your options will be restricted by your employer.

But let us assure you that Medicare is entirely different. Often people stay with their Original Medicare, while 35% of people who select Medicare Advantage do have about 21 total plans to pick from. In simpler words, the recipient is not bound with a different person’s idea and you will be free to pick your coverage depending on what’ is suitable for your requirements and situation.

Also, you won’t be stuck with your selection for many years. At some point when you unhappy with your plan, you will still have an option to switch to another coverage.

Also Read: In-Depth Comparison of Medicare Insurance

4) PREDICTABLE HEALTHCARE EXPENSE

  • Medigap

Medigap

When you purchase a Medigap or Supplement Plan, you will get 1st dollar coverage on all your healthcare expenses which means you will spend nearly nothing while you want medical care.

  • Medicare Advantage

Medicare Advantage

With Medicare Advantage plan, you can effortlessly control your healthcare expenses. Most of these plans only have one deductible. Also, despite of spending a percentage of the fees in Part B, many plans under Medicare Advantage utilize a set copayment.

Every Medicare Advantage plan has a fixed out-of-pocket limitation set by the government every year, however, most of the plans have limitations below the federal amount. This means you will never have to spend more than your plan limits every year regardless of how much healthcare you want.

Also Read: Difference Between Medicare And Medicaid

5) NEW ADVANTAGES TO MAINTAIN YOUR HEALTH

NEW ADVANTAGES TO MAINTAIN YOUR HEALTH

Medicare serves numerous benefits for your preventive care, no matter you select Medicare Advantage or Original Medicare. Medicare periodically reviews their recipient’s suggestions for their wellness as well as preventive care. After reviewing, they adjust coverage appropriately which directly allows you to access the immunizations, tests, and screenings that you require to stay healthy.

Now, Medicare Advantage plans are offering many fresh benefits with a primary objective to keep seniors healthy and safe at their home. There are many new benefits including in-home meal delivery, non-medical transportation and expanded coverage for telehealth services.  

Also Read: How to Compare Medicare Advantage Plan?

There are also home healthcare benefits that include allowances for home safety devices & equipment, home-making services, and custodial care along with caregiver benefits such as respite care.

So now you will be clear which way to take for your Medicare coverage and even how to pick a suitable plan to fulfill your requirement.

For Sure, you will end up loving your Medicare Plan!!!

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Medicare

Best Medicare Advantage Plans For 2020

Talking about Medicare, older communities have enough options. Medicare Advantage Plan is one of those options.

You can acquire Medicare Advantage plans from any private insurance company. Firstly, let’s know about the Top 3 Medicare Advantage providers:

BEST-MEDICARE-ADVANTAGE-PLANS-FOR-2020

1) Aetna Medicare Advantage Plans

The Aetna Medicare Advantage plans rank this list because it is known to be one of the best health insurance providers in the entire world.

These plans under Aetna includes options such as PPO or HMO, low/zero premiums and many additional benefits. As a recipient, you can select a plan that suits you & fulfill your requirements as well.

Also Read: Difference Between Medicare And Medicaid

Aetna offers many options for helping you to stay healthy. They also provide vision & hearing check-ups, yearly wellness visits & prescription drug coverage. And in case someone needs discounts for fitness centers, then he/she can select a plan including that particular option.

Aetna also has a large network of hospitals, doctors & various other benefits. In case, anyone has to see more than a doctor, then Aetna is definitely the appropriate plan for them.

2) Humana Medicare Advantage Plans 2020

Not only Humana is serving Medicare Advantage Plans for over 20 years, but they consist of more than 7 million Medicare members. Humana Medicare Advantage plans is well known for providing a minimum out-of-pocket expenses.

If you can find this plan in your location, then the most you will pay on coinsurances & copayments for a year will be $ 2,200.

Do you bear a lot of health care expenses? If yes, then the plans under Humana will be perfect for you. Most of the Humana Medicare Advantage plans serve you with extra benefits as well as resources to maintain your good health and fortune.

Many Advantage plans also include fitness programs & also offer accessibility to a 24/7 nurse advice line, convenient mail-order pharmacy services and 13,000 fitness centers.

Plus, Silver Sneakers also provide access to exercise classes & gyms across the United States, without any membership fees.

Also Read: 5 Health Insurance Plans You Must Know About!

3) CIGNA

Founded in 1792, Cigna is not only a long-time standing company but also is rated A.

Cigna understands that a single size does not fit for all especially when it is about Medicare requirements & plans. That’s why Cigna serves numerous plan options such as Special Needs Plans.

Cigna also offers special needs plans exclusively for those in skilled nursing care or nursing homes, or those suffering from cardiovascular issues & diabetes and benefits for people owning Medicaid & Medicare.

All these plans are genuine alternatives to Medicare. You don’t need to worry about anything when you have an advantage plan as the plan will be accountable for all your claims.

When you visit your doctor, the Medicare Advantage Plan ID card will be considered as your primary card for Medicare.

All of the above-discussed plans normally include Part D that will keep a track of your health easily. A few of these plans also include advantages such as silver sneakers fitness programs, routine dental, and routine eye care.

So, choose a Medicare Advantage plan which can be an appropriate alternative for your Medicare!!!

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Medicare

Top 5 Medicare Plans of 2020

Before knowing about the Top 5 Medicare Plans, you should clearly understand that every Medicare plan depends on the health goals of the recipients & what did they expect out from their health plan.

However, in the process of choosing a perfect Medicare plan, you are not alone. We are here to help you!!!

medicare

Are you fit for Medicare? If yes, here are some options for you:

1) PART A

PART A majorly covers for the following expenses:

  • Hospital care
  • Hospice care
  • Home health care
  • Skilled nursing facility (SNF) care

Also Read: Best Medicare Advantage Plans For 2020

Part A functions differently in every above-mentioned situation. 

You should meet two main requirements to be qualified for Medicare Part A:

  • You should 65 or above.
  • You have acquired disability benefits for at least 25 or more months.

2) PART B

PART A majorly covers for the following expenses:

  • Some medications like shots administered at the doctor’s office
  • Durable medical equipment like wheelchairs & medical braces
  • Emergency & ambulance services
  • Lab testing like medically necessary blood work
  • Mental health visits like therapy, family counseling & depression screening
  • Doctor visits: both PCPs (Primary Care Physicians) & specialists

Sadly, Part B does not cover for most of the services that are normally covered by plans under employer-sponsored health insurance.

Also Read: Best and Rest Rated Medicare Advantage Plans

Part B premiums by income (2019)

Individual income Married income (filed jointly) Married income (filed separately) Monthly premium
$87K or less $174K or less $87K or less $144.60 (standard premium)
$87,001–$109,000 $174,001–$218,000 N/A $202.40
$109,001–$136,000 $218,001–$272,000 N/A $289.20
$136,001–$163,000 $272,001–$326,000 N/A $376.00
$163,001–$499,999 $326,001–$749,999 $87,001–$412,999 $462.70
$500K or more $750K or more $413K or more $491.60

You should meet the main requirements to be qualified for Medicare Part A:

  • Aged 65
  • Completed the 25th month on disability
  • Began dialysis treatment for (ESRD end-stage renal disease)
  • Acquired an (ALS amyotrophic lateral sclerosis) diagnosis

3) PART D

Part D of Medicare is the only way to increase prescription drug benefits to Medicare coverage. These are federally monitored plans sold by private insurance companies & in most cases, there used to be many choices to select from.

Also Read: Medicare 101: Which Part Is Best For You? 

4) Medicare Advantage Plan

Medicare Advantage Plan is the same as the employer-sponsored health insurance plan. The recipient has to select a company as well as a plan that best fits his/her needs.

In exchange for your monthly premium, a portion will be paid by the insurance company that covers your healthcare expenses. Many plans pay for various other services as well as prescription drug coverage, dental and vision.

Different types of Medicare Advantage plan are as follows:

  • HMO Point-of-Service (HMO-POS)
  • Private Fee-for-Service (PFFS)
  • Preferred Provider Organization (PPO)
  • Health Maintenance Organization (HMO)

5) Medigap Plan

Medigap Plan offers an exceptional option for those who like the government-run Medicare program along with some additional expense coverage. Plans under Medigap helps to cover expenses that Original Medicare does not, such as coinsurance deductibles and copayments.

Also Read: Difference Between Medicare And Medicaid

Normally, the extra coverage means a high cost. However, the prices may also differ based on the insurance company, the area from where the recipient belongs and how many other individuals are on the same plan in your location.

These are the Top 5 Medicare Plans of 2020.

Reach out to a licensed sales agent today and choose a suitable plan for yourself!!!

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Medicare

Choose Top Rated Medicare Plans For You

Top Rated Medicare Plans: You can find a number of different Medicare policies provided by many insurance companies across the U.S.

Millions of Americans acquire benefit of the Medicare services rendered to them after they become 65 years old (or else they have any disability or have an end-stage renal failure), & not everyone gets the exact similar benefits.

Top Rated Medicare Plans

Do you know that Medicare 5-star plans are known to be the highest rated? Hence, they should be mandatorily taken into consideration while you search.

Also Read: In-Depth Comparison of Medicare Insurance

Plans under Medicare are rated to primarily help aged customers to understand how much funds they can save or how excellent are the services offered or the quality of service, and various other major elements are considered to decide which Medicare plan is perfect for them.

The best-rated plans are basically known as 5-star plans and you will be amused to know that only a few best-rated plans used to be available every year.  

We will help you to understand the different types of Medicare as well as to know which types actually are called top-rated plans:

Which Medicare Plans Are Rated?

Medicare Plans

As you all know, Medicare has four major parts namely A, B, C, and D. However, you should know that not every part acquires a rating.

Parts A & B are believed to be similar for everyone out there. Every individual with parts A & B acquires the same coverage including doctor’s visits, in-patient services, and hospital stays. The coverage also includes medical equipment along with small changes based on your area & the type of services you are availed. Considering all these reasons, parts A & B of Medicare are not given any rating.

On the other hand, Medicare parts C and D are given a rating because both of these are the major parts of Medicare in which people reach out to private insurance companies to discover a suitable plan for them. Both plans can broadly vary.

Also Read: Everything About Medicare F Plans

Let’s discuss more about the rated Medicare Plans:

1) PART C

The plans under Part C are also called Medicare Advantage Plans. These plans can be availed from private insurance companies that are certified by Medicare.

They normally provide coverage for everything that Medicare A & B do. However, they also serve dental & vision, prescription drug coverage, and many other services that are not covered under Medicare parts A & B.

HMO (Health Management Organization) plans & PPO (Preferred Provider Organization) are the most famous Advantage plans provided by a private insurer.

Also Read: Top 5 Medicare Plans of 2020

2) PART D

The plans under Part D provide coverage for prescription medication. People also acquire prescription coverage through a Part D plan.

The government does not provide prescription plans, however, all these plans are given out to the private insurer, who sold you the plan.

The monthly premiums of these plans extend from $ 0 to around a couple hundred dollars along with different deductibles also.

Also Read: Medicare 101: Which Part Is Best For You

Why Are Medical Plans Rated?

Medicare plans are given rates to help the healthcare providers as well as private insurers in check. Although every company offering Part C & D should be certified by Medicare. The rating system also permits customers to acquire a clear reporting of how much they are paying for what type of coverage.

So, are you clear about all the rated Medicare plans? If yes, without wasting more time, go and grab one for you today!!!

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Medicare

Things You Should Know About Medicare Enrollment 2020

Like every year, Medicare Open Enrollment 2020 started from October 15 and will run till December 7.

During this time, Medicare beneficiaries across the U.S. calculate their present coverage & then make certain modifications which affect their healthcare expenses & also the coverage starting in the month of January (of the next year).

Also Read: Health Insurance Lost? Here’s What You Should Do

Do you want to make some changes to your existing coverage or else just need to grasp more knowledge about the enrollment period? If yes, keep reading and do not miss any information!!

So, What is Medicare Open Enrollment?

Medicare Open Enrollment

Also termed as the Annual Enrollment Period, or AEP, Medicare Open Enrollment is a period in which a recipient can do some changes to his/her current Medicare coverage.

  • You can change your Original Medicare– Parts A and B, to Medicare Advantage and also vice versa.
  • You can switch from one Medicare Advantage plan to any other plan.
  • You can add as well as change your plans under Medicare prescription drug.

Also Read: Doctors Not Accepting Your Medicare? Here’s What You Can Do

Some Additional Information About Medical Open Enrollment 2020

The Medicare program modifies a little bit every year. You should definitely know what all are new in the year 2020 that could favour you to explore numerous options that you can acquire during 2020’s Open Enrollment.

  • YOU CAN STILL USE MEDICARE SUPPLEMENT PLAN F AS WELL AS PLAN C

Both Plan F and C won’t fade away completely but do note that the Centres for Medicare & Medicaid won’t permit fresh Medicare recipients to sign up to Plan F and C.

  • DONUT HOLE” OF PART D WILL BE CLOSED

At the beginning of 2020, Part D’s coverage gap will not continue anymore.

  • SOME CHANGES IN PART D PLANS & MEDICARE ADVANTAGE

Every year, providers do minute changes to the Medicare Advantage & Part D plans. Normally, there used to be various changes including changes in deductibles, premiums, and many other expenses as well. Always remember that these changes are finalized only before fall Open Enrollment.

Is It Necessary To Revive Your Current Plan?

Are you satisfied with your present Medicare coverage? If yes, then you don’t have to be worried about anything at the time of Medicare Open Enrollment.

Also Read: Choose Top Rated Medicare Plans For You

However, you can Open Enrollment pass to be 100% sure. Do the following two points to advance your current Medicare coverage:

1) OPEN EVERY MEDICARE MAIL

In case, your plan won’t be continuing next year then you will be sent a notice via mail. And by any chance, you omit the notice & fail to sign up in any other coverage then gradually you can lose your coverage as well.

On the other hand, if your plan will continue in the next year then you will receive an mail, i.e., an Annual Notice of Change (ANOC), by your insurer. Study your ANOC thoroughly to confirm that your plan will meet your requirements in the following year. And if not, then my friend it is high time to switch to other options.

2) SHOP AROUND

Regardless of what you think about your present plan, it is a good thought to do some shopping during Open Enrollment. After all, plans & premiums change yearly and what if you will find an option that can suit your situation comparatively better than your present coverage. So if you do not inspect, you will never know about them!!

A Very Important Point To Remember

It is a common query that if anybody enrolls for a Medicare Advantage plan at the time of Medicare Open Enrollment & later on if their requirements change, will they have to wait for the next fall to change their plans?

Well, the answer is “No”!!

In the year 2019, the Medicare program started the Medicare Advantage Open Enrollment Period (MAOEP).

Also Read: Everything About Medicare F Plans

MAOE period starts from January 1 to March 31. At this time, recipients can make changes to their Medicare Advantage plans or can shift back to their Original Medicare. However, the recipient should have the Medicare Advantage to utilize this period. An individual who begins the year with Original Medicare cannot utilize this enrollment period.

So get ready for the Medicare Open Enrollment 2020. Analyze every option and sign up for the best plan.

Time may fly away! Hence, do not miss out on the options you have!!!

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Medicare

Everything About Medicare F Plans

Everyone is in a search of that one plan that can pay off most of the out-pocket expenses of Medicare. If you are also one of those, “Your Search is Over”!! Using Medicare Supplement Plan F, you can easily pay nearly all of the expenses, however, the plan is exclusively available for some qualified people only. 

EVERYTHING-ABOUT-MEDICARE-F-PLANS

Here, we will provide a complete and clear picture of Medicare Plan F. 

Firstly, let us know what the Medicare Plan F is?

Medicare Plan F is designed to help you to meet your out of pocket expenses that are not covered under Medicare Part A and B. It is one of the standardized Medigap plans which means that these plans are particularly created to provide the same services as Part A and B.

Read More: How to Compare Medicare Advantage Plan?

What All Plan F Covers?

Medicare Supplement Plan F is known to be the exclusive plan that provides coverage of every Medicare Supplement plan benefits.

Know about all the benefits under Plan F with the help of the table given below. “Yes” indicates that Medicare Supplement Plan F does cover a hundred percent of the respective benefit.

MEDIGAP BENEFITS COVERED UNDER PLAN F PURPOSE OF THE COVERAGE
Part A coinsurance and hospital costs up to an extra 365 days after Medicare benefits are used up Yes If a person is admitted to a hospital beyond 90 days, he/she will have to pay $682 in coinsurance for every lifetime reserve coverage day they have. Their Medicare benefits will be then used up when he/she runs out of their lifetime reserve days and at that time their Medicare Plan F benefits start.
Part B coinsurance or copayment Yes This particular benefit favours to pay a share of the expense for the covered medical services and that is normally 20 percent of the person’s Medicare-approved amount.
Blood: first 3 pints Yes This particular benefit provides coverage for the provider or hospital expenses.
Part A hospice care coinsurance or copayment Yes Well, this will help you to pay the 5% coinsurance of your Medicare-approved amount and avail inpatient respite service and/or a copayment of around $ 5 for every prescription & various pain relief products that you acquire while being under the hospice care.
Skilled nursing facility (SNF) care coinsurance Yes This particular benefit will help you to pay your coinsurance amount for days 21-100 of SNF care that is around $170.50/day for every benefit period.
Part A deductible Yes This plan will pay for your deductible of Part A hospital insurance that is around $1,364 (in 2019) for every benefit period.
Part B deductible Yes This plan provides coverage for the annual deductible of Part B medical insurance that is $185 (in 2019).
Part B excess charge Yes Some providers do not accept the Medicare-approved amount for service coverage and that is why a full payment will charge you more. Medicare Supplement Plan F is a unique plan that provide coverage for this charge.
Foreign travel exchange up to plan limits 80% This benefit comes with a lifetime limit of about $ 50,000 that will help you to pay the expense for some emergency care that you acquire outside the United States after you pay an annual deductible of $250.
Out-of-pocket limit N/A Few of the Medigap plans are also designed with an annual out-of-pocket limit which you must pay off before your plan starts to pay all your expenses for covered services. But this is not applicable in the Medigap Plan F.

Medicare Plan F Plans Rates

Medicare Plan F normally has a high premium out of all other Medigap plans as it offers the most coverage to you. But the premium can be low than other plans when the recipient selects a high-deductible Plan F.

 Plan F Monthly Premium (2018) for 65-Year-Old Male are as follows:

AREA HIGHEST PREMIUM LOWEST PREMIUM
Fort Worth, TX $180 $149
Los Angeles, CA $190 $169
Miami, FL $336 $275

Now you have a comprehensive picture of the Medicare Plan F and this will definitely help you to decide whether you need/need not enroll and avail benefits of Plan F!

DECIDE THE BEST FOR YOU!!!