Useful facts about medicare supplement plans for texans
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Useful Facts about Medicare Supplement Plans for Texans There are 2.6 million Medicare beneficiaries living in Texas. However, some of them are finding it difficult to manage the out-of-pocket costs and the monthly expenses that are associated with the original Medicare insurance plan. This is where a Medicare Supplement Plan, which is also known as “Medigap”, can help them out. Medigap helps in meeting the additional health expenses that Medicare does not cover. It covers the costs associated with the original Medicare that includes copayments, out- of-pocket expenses and other deductibles. However, it is not a stand-alone policy and works in collaboration with the original Medicare insurance. Before you decide to buy Medicare supplement in Texas here are some important facts that you should consider: Who Can Apply for Medigap Insurance? If you are 65 and enrolled for a Medicare insurance policy, you will be eligible for Medicare supplement policy. The criteria to be eligible for a particular policy depends on the time of application and the kind of coverage you already have. When you are aware of the restrictions, you can take full advantage of the Medigap policies available.
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Transcript of Useful facts about medicare supplement plans for texans
Useful Facts about Medicare Supplement Plans for Texans
There are 2.6 million Medicare beneficiaries living in Texas. However, some of them are
finding it difficult to manage the out-of-pocket costs and the monthly expenses that are
associated with the original Medicare insurance plan. This is where a Medicare
Supplement Plan, which is also known as “Medigap”, can help them out.
Medigap helps in meeting the additional health expenses that Medicare does not cover.
It covers the costs associated with the original Medicare that includes copayments, out-
of-pocket expenses and other deductibles. However, it is not a stand-alone policy and
works in collaboration with the original Medicare insurance.
Before you decide to buy Medicare supplement in Texas here are some important facts
that you should consider:
Who Can Apply for Medigap Insurance?
If you are 65 and enrolled for a Medicare insurance policy, you will be eligible for
Medicare supplement policy. The criteria to be eligible for a particular policy depends on
the time of application and the kind of coverage you already have. When you are aware
of the restrictions, you can take full advantage of the Medigap policies available.
As the name suggests, Medigap insurance fills in the gap in terms of the medical costs
that Medicare Part A and B don’t cover. Though the medigap policies are sold by private
insurance companies, the type of policies that are allowed to be sold are regulated by
the federal government.
Enrollment Period for Medigap Policy
The open enrollment period is the best time to enroll in medigap insurance policy. It
starts from the month you turn 65 and continues for the next six months. During this
time, you are eligible to apply for any type of Medigap plan available in your area
regardless of the health issues that you may have been facing. During the open
enrollment period, the insurance company can’t charge you with a higher rate of
premium even if you have serious health issues.
You can apply for the Medigap policy at any time; however, if you apply for it outside of
the open enrollment period, you will require medical underwriting. The flip side of
enrolling in a Medigap policy after the open enrollment period is that you may be
charged with a higher premium rate if you have some health issues.
Contact Us:
Choice Plus Benefits Inc.
http://www.choiceplusbenefits.com/
14200 Midway Rd., Suite 107, Dallas, TX 75244
Telephone: 972.850.0680
FAX: 214.622.6448
E-mail: [email protected]
