When should you apply for a Medicare Advantage Plan?

If you are already enrolled to Medicare Part A or B, you are already fulfilling one of the necessary criteria for being able to apply for a Medicare advantage plan. And, if you are on the original Medicare, you already know that a lot of expenses are left uncovered by it and when requiring health care services, there will be bills you would need to pay out of your own pocket. A Medicare original part A or B comes with its copayments, coinsurance, deductibles and excess charges. For those who require medical care many times throughout the year, the amount they are paying yearly for medical care can become really high really soon. This is why many want to enroll to a advantage plan, which helps cover for these expenses that the Medicare original simply won´t cover. However, do you know when you can apply for a Medicare advantage plan?

The best time is now at https://www.medicareadvantage2019.org/aarp-medicare-advantage-plans-2019/

There is a so-called “best time” to enroll to a Medicare advantage plan. This is because during this time, the cost for your premium rate will be lower than otherwise. This time is other known as the open enrollment period. This is a period that grants you guaranteed-rights. Guaranteed rights mean that the health insurance company cannot deny you enrollment to the plan, and it also cannot base their price based on your health state or previous conditions. Especially for those with disabilities and chronic conditions, this is a time to fully take advantage of. Otherwise, after missing the period, you will lose you guaranteed rights and the insurance company will be able to start charging you more for the premium rates with the excuse of you having extra costs due to your condition.

There are also some other, special situations, that can guarantee you these rights, outside this enrollment period. If the Medicare advantage company you are already enrolled to goes bankrupt and you lose your coverage, you have the right to enroll to another Medical advantage plan with the same rights granted. Also, if you are enrolled to Medicare Advantage, you can freely switch to a Medicare plan anytime. If you have Medicare Select or Medicare Advantage and move somewhere, where these services are not provided, you can switch to a plan that is provided in that area without a care. Also, if you have an employer group health plan or union coverage and this is soon ending, you will be granted your guaranteed-issue rights.

In conclusion, enrolling to a Medicare advantage plans is, after fulfilling the criteria, almost always possible. It is the premium rate that changes in different stages of your life and why the time of enrollment makes a difference. If you have been only offered high premium rates so far, wait for the enrollment period to finally get a plan that you can afford and that will save you money in the long-run. It is important to compare health insurance companies, as they all have different rates for the same types of plans.

The Best Medicare Supplement Plans for You Are Available Globally

 

So, by now you must be aware of the various policies and plans that have come up over the years for your medical needs. It can be planned or unplanned medical issues; you can fall back on your general Mediclaim policy along with Medicare supplement plans which are making foray into the market.

What is General Mediclaim?

It is a health insurance policy which has been designed to cover your medical expenditure, be it an illness, disease or accident. Medical issues can come up at any time. Mediclaim policies are renewable every year.

Healthcare costs are increasing day by day and having a Mediclaim policy has become imperative. There are various types of Mediclaim policies: Individual and Group Mediclaim policies.

Individual Policies – cover a single person. The calculation of premium is based on the age and health history of the individual.

Group Mediclaim or Family Floater Policies – are for the entire family, which include spouse, children, parents and other dependable family members. The premium is calculated based on the age of the oldest member.

Medicare Supplement Plans

These are new in the market; however they have a lot of potential. These plans supplement your original Mediclaim policy. Your general medical insurance may have many limitations like, non-coverage of pre-existing diseases, certain fees and equipment not being covered, nurses fees non – coverage and so on.

This is where Medicare supplement plans come in. They will cover up most of the loopholes.

In order to get a plan in this category, you have to have a general medical insurance, first. They have host of other features, as per which you can buy policies and plans based on your entry age. The lower the age when you enter the plan, the lower is your premium cost.

Another name for these plans is Medigap. It bridges the gaps in your general Mediclaim policy. You may not be covered for medical emergencies on foreign travel; however Medigap helps you with that.

Various Medicare supplement plans

There are a host of such plans from several private players in the market. They are denoted by alphabets with different features. There are ten different plans, namely A, B, C, D, F*, G, K, L, M, N and more. Each comes with a host of features.

You have to use your judgment to find out the best plan for you. It will definitely benefit you, with a real supplementary policy.

Pros and Cons of Buying Medicare Supplement Plans

The Medicare Supplement Plans are useful because they offer coverage over and above what is offered by the Medicare plans. This thus saves you from spending out of your pocket when you go for some treatment.

Knowing the pros and cons of buying Medicare Supplement Plans will let you take an informed decision.

Pros:

Provides standard coverage in most of the states

The Medigap polices are offered by the private insurance companies and these plans are offered in different plans. The plans from A to F all have some unique features. However if you buy a plan C from one insurance company then the inclusions and exclusions would be same when you buy the plan C from some other insurance company

Enrolment guarantee for six months

Medicare Supplement plans 2019You will be able to enroll into the Medicare Supplement Plans that are sold in the state that you stay in without being turned down due to some medical reason. This is true if you apply for the same within the open enrollment period. This lasts for the first 6 days of the month in which you are 65 years or older. You should also be enrolled under the plan B.

Additional hospitalization cover

The Medigap plans in most of the states will offer additional 365 days coverage after you use up the original Medicare plan.

Coverage that is nationwide-https://www.bestmedicaresupplementplans2019.com/

The coverage in most cases can be availed nationwide and thus you are not restricted to use the policy only in a particular state. This is suitable for those who travel a lot.

Guaranteed coverage that can be renewed

If you pay the monthly premiums towards the Medicare supplement plans you will not cease to benefit from the coverage that it offers.

Extra benefits

Some of the Medigap plans offer you extra benefits like emergency care when you do a foreign travel etc.

Cons:

The cost of buying a Medigap plan

The cost of the Medicare Supplement Plans is high as compared to many of the Medicare plans. This could deter you form making a purchase.

Increase in premium rate

The premium amount that you pay towards the Medigap plan could keep increasing on a yearly basis.

Qualifying outside the period of guaranteed acceptance

The Medigap coverage could be denied to you after the open enrolment period. This could be because of any personal health condition. You could be declined or the coverage could end up costing more.

No coverage offered for the prescription drugs

There is no coverage that is offered for the prescription drugs. So you would need some additional medical insurance plans.

How to choose Medicare supplement plans?

After weighing your options, you must have realized that you need to have Medicare supplement plans. A simple Medicare policy alone cannot satisfy all your insurance needs especially when it comes to health matters. You need to have some form of assurance that your health status is taken care of by your insurance provider and that they will help pay for the maintenance of your health. Therefore, you need to have supplement plans to serve your needs.

What factors do you have to consider before acquiring medical supplement plans?

First of all, get to learn about the various components of Medicare insurance policy. It is essential to do this so that you do not end up making the wrong decision. Note that you can only be eligible for a supplement plan if and only if you possess original Medicare Part A & B. Before everything else, ensure that you apply for an original Medicare plan.

medicare supplement plans 2019Compare the ten plans to identify exactly what you want. You will find that some have higher prices than others. Some require higher cost sharing so it is up to you to know what you want and how much you can afford. Remember, age matters when choosing the right Medicare supplement plans. Equal premiums are paid by all policy holders but the initial premium when you first acquire a supplement plan varies according to age. Younger people pay lower initial premiums compared to older people. For example, a 65year old man will pay less initial premium than a 70year old.

Another important matter to look into is the legal status of the insurance provider. When you deal with an agent, please remember to contact the main office to find out the validity of the insurance provider. There are some malicious people who pretend to sell policies for insurance providers. These people can easily steal your hard earned money so beware of them.

 

 

Conclusion

Medicare supplement plans for 2019 can be found at http://www.medigapplansguide.com, and are a vital element of insurance, which will take care of your unsolved needs. A Medicare plan is never enough on its own so it must be boosted with a supplement plan to meet your demands. Consider the reputation of the insurance company before signing an insurance contract. The reputation will tell you about the services rendered, and much more. It can help you determine if the services are really worth the price.

Medicare Supplement Plans

Reaching the age of 65 entitles you to join Medicare for your health insurance needs. Medicare Part A will cover your hospital services and Medicare Part B will cover your physician services and medical tests that may be needed. Medicare Part A may have yearly deductibles, as well as copayments. Medicare Part B will also have a deductible, copayment and premiums which should be considered. The main reason to acquire a Medicare supplement plan is that Medicare will only pay 80% of your medical expenses. The remaining 20% will be your responsibility and a Medicare supplement plan will help cover those.

In order to get a Medicare supplement plan, one must have Medicare Part B. You still have to pay the Medicare Part B deductible, if that is the plan you wish to have. There are 10 Medicare supplement plans and are known by the letters A-N. Each plan will have different coverage for the medical services and should be looked at carefully to see what plan will meet your medical needs. These plans are standardized, so they are the same for every insurance company you may consider. The difference will be in the monthly premiums and this may help you in deciding which plan you choose.

It is important to consider getting your Medicare supplement plan within 6 months of joining Medicare. Any medical condition you may have will not be rejected within that time. If you get a plan later than the 6 months, you may find your medical condition may be rejected and your premiums may be a lot higher. So it is important to be aware of this condition when getting one of the Aetna Medicare supplement plan.

Some plans will cover you when you travel outside the United States. This may be important to you and you will find some Medicare supplement plans will cover your health emergencies in another country up to 80%.

Medicare supplement plans are purchased from private insurance companies. They are standardized and will be the same no matter which insurance company you choose. The difference will be in where you reside and the monthly premiums. The premiums are determined by each insurance company, so it is important to check out all the plans, as well as the insurance company you may wish to go with.

You will need to go to a physician who takes Medicare, so you may have to change your doctor if this is the case. Looking at each plan will help you to decide which Medicare supplement plan is for you.