What are the Medicare eligibility requirements?
People must be enrolled in Medicare Parts A and B, be 65 or older and a resident of the state where supplementary plans are offered. Health status or pre-existing conditions do not disqualify people from eligibility for supplementary coverage. Options are limited before people turn 65, but some still may qualify for coverage. Depending on a person’s residence state, he/she may qualify if less than 65 and suffers from advanced renal disease. Since states can have different regulations, people should check with their state’s Health Department to learn if they have any options prior to turning age 65.
Do plans differ among insurance companies?
The benefits of these plans, called Plan C coverage, are identical with all insurers. Be aware, however, that not all insurers are licensed to operate in every state. In most cases, the choice to become licensed is the option of the insurance company depending on internal or perceived state-specific reasons. Since 2006, supplemental insurance does not include drug coverage. They are now covered in Part D plans as a separate plan. Those people taking “name brand,” and not generic medication, can save significant dollars. Similarly, using the generic equivalent to a brand name can be deeply discounted or even free.
What plans do I have to choose from?
When someone compares Medicare Supplement Insurance, the term “Medigap” will arise. This is the popular term for supplementary plans, as it “fills in” the gaps in Medicare Part A and B coverage. The best plans cover coinsurance and hospital costs for an additional 365 days beyond Medicare Part A benefits and coinsurance levels for Part B plans. They also cover Part A and B deductibles and hospice care copayments. Although plan benefits are identical, insurance companies and pricing can vary from state-to-state. People still should find multiple options for coverage regardless of their home state. There should be at least one satisfactory available plan, regardless of where in the nation people live.