Two Popular Medigap Plans Are Ending. Should You Enroll While You Can?
If you will soon turn 65 and be applying for Medicare, you should carefully consider which Medigap policy to enroll in becaus...
Read moreOnce you become eligible for Medicare, you will be inundated with offers from insurance companies for Medigap (supplemental insurance) policies. Sorting through these offers can be confusing. Not only are there 12 standardized plans, but there can be huge differences in premiums between companies.
Medicare plans A and B cover only a portion of medical costs. Medigap policies are designed to fill in the "gaps" in coverage. The first step is to figure out what coverage you will need. The government currently has 10 standardized plans each represented by a letter. For information about what each plan covers, click here. Medicare also publishes a guide to Choosing a Medigap Policy that explains the differences in plan coverage. The following are some other things to consider when looking at plans:
Note that Medigap plans that cover the Medicare Part B deductible (Plans C and F in most states) will no longer be sold to most people who turn 65 or who become eligible for Medicare after January 1, 2020. If you buy a Medigap Plan C or F before January 1, 2020, you can keep that plan and your benefits won’t change.
Local Elder Law Attorneys in Your City
Once you've decided what type of coverage you need, the next step is to decide which company to buy from. To find a list of companies that sell plans in your state, go to Medigap Policy Finder.
Each plan covers the same medical services, but premiums can vary significantly from company to company. The companies use three different methods to set premiums: attained age, issue age, or community.
While the premiums on an attained-age policy may be lower at first, it is generally better to buy an issue-age or community policy, which may be more expensive at first but doesn't increase as much over time.
Following are some other things to keep in mind when choosing a policy:
For more information about Medigap, click here.
If you will soon turn 65 and be applying for Medicare, you should carefully consider which Medigap policy to enroll in becaus...
Read moreWith all the deductibles, copayments and coverage exclusions, Medicare pays for only about half of the medical costs of Ameri...
Read moreOnce a resident is settled in a nursing home, being told to leave can be very traumatic. Nursing homes are required to follow...
Read moreMedicaid Rules, etc