|
|
Modernized Texas Medicare Supplement Plans
 There
are 10 modernized Medicare Supplement Insurance (Medigap) plans A, B, C, D, F, G, K, L, M, and N sold in Texas.
These plans are designed to fill the gaps in Medicare part A and B coverage. The plans are standardized to offer the
same mandated benefits regardless of what company offers them. A Plan F or Plan
N from one company
provides the same mandated benefits as a Plan F or Plan N from another company.
The standard benefits are mandated by federal law, and allow you to easily compare
plans from different companies. You can view the "Choosing
a Medigap Policy" handbook published by the Centers for Medicare & Medicaid
Services (CMS) by clicking here.
Page 9 of the handbook describes how all TX Medicare
Supplement plans must contain the same mandated benefits regardless of what company offers
them, and that's why you should compare rates.
Following are the modernized Texas Medicare Supplement plans:
|
|
Roll mouse over benefit for details. |
|
Basic Benefits (including 100% Part B coinsurance) |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
*Yes |
|
Skilled Nursing Co-Insurance |
|
|
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Part A Deductible |
|
Yes |
Yes |
Yes |
Yes |
Yes |
50% |
Yes |
|
Part B Deductible |
|
|
Yes |
|
Yes |
|
|
|
|
Part B Excess Charges |
|
|
|
|
100% |
100% |
|
|
|
Foreign Travel Emergency |
|
|
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
- Plan N has a copayment of up to $20 for office visit, and up to $50 copayment for ER.
- Plan F is also available with a high deductible option where you must pay
the first $2,000 (2010) before the plan pays anything.
- Plans K and L are not listed above. These plans cover
50% (K) and 75% (L) coverage of the Part A and B deductible, Blood, Hospice Care
Coinsurance, and Skilled Nursing Facility Coinsurance. Neither plan covers
any excess charges.
June 1, 2010 the Modernized plans replaced the older standardized Medigap plans.
Plans E, H, I, and J have been eliminated, and plans M and N have been added. If
you currently have one of the older standardized plans you will be able to keep
it as long as you continue to pay the premiums, and your existing plans benefits
will remain the same. The "preventive care not covered by Medicare" and "at home
recovery" benefits have been removed from all of the modernized plans and a new
"hospice care" benefit has been added to the core benefits. In addition the plan
G coverage of Part B excess charges has been increased from 80% to 100% in the
new modernized plan.
|
|
 Determining which TX Medicare Supplement plan is best
for you is important because some of the plans listed above leave you at risk for
excess charges. Plans F and G cover all of the Medicare Part
B excess charges thereby providing you with greater protection. Excess charges
occur when your doctor or hospital does not accept Medicare assignment and the cost
of the procedure is more than Medicare has approved. Not having this protection
can cost you thousands of dollars for an expensive procedure.
Click here to learn more about excess charges.
The insurance company you select also is very important. Factors such as financial
stability and the companies rating can effect your premiums as well as timely payment
of claims. It is important to review the rating of your insurance company
on a regular basis. The A. M. Best rating service is one of the most
widely used, and is also recommended by Medicare itself.
Click here to learn more about why your premiums go up.
There are several good articles on selecting the right Medicare Supplement Policy,
and
here is one written for Suddenly Senior that gets right to the point.
Click here for more useful links.
|
|
|
