Standardized Texas Medicare Supplement Plans

There are 12 standardized Medicare Supplement Insurance (Medigap) plans A-L 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 J from one company provides the same mandated benefits as a Plan F or Plan J 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 7 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 standardized Texas Medicare Supplement plans:

• 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. 
• Plan F and J are also available with a high deductible option where you must pay the first $1,900 (2008) before the plan pays anything.

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, G, I, and J cover all or most 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.