- Medicare Supplement Rates
Medicare Supplement Rates
Your Medicare Supplement Policy Review
Have you reviewed your Medicare supplement insurance lately? Insurance rates change regularly. This is true of your property and casualty insurance as well as your Medicare supplement insurance. Fortunately, like property and casualty insurance, you can change to another Medicare supplement insurance company any time you want. There are no Annual Election Periods you have to work in or around. But be aware that when you change you may be subject to underwriting. In most cases, you are not guaran...
Medicare Supplement Quotes
Why should you get at Medicare supplement quote? Medicare supplements are standardized by the government, so it does not matter which private insurance company you buy your Medicare supplement from, each letter plan offers the same basic benefits from company to company. Therefore, it's easy to compare premiums from one Medicare supplement insurance plan to another, and decide which will be the best deal. Also, getting Medicare supplement quotes from many different Medicare supplement insurance ...
Medicare Supplement Premiums
When shopping for a Medicare supplement policy, you will probably encounter some big differences in the Medicare supplement premiums offered by different companies. There are several reasons for this. The type of policy influences the price. If the policy is a Community-rated plan, the same premium is charged to all who have the Medigap policy. The premium amount is not determined by your age. If the policy is an Issue-age policy, the Medicare supplement premium is determined by the age of the p...
Medicare Supplement Shopping
Many seniors live on a fixed income. How can you lower your monthly costs? One way is to shop around for a more affordable price on your Medicare supplement coverage. The standardization of Medicare supplement policies also known as Medigap policies makes this easy. If you have Plan G Medicare supplement insurance, you can call an agent that deals with many companies and get a Plan G quote from other companies and make and easy comparison. Is now a good time for you to shop for new Medicare supp...
High Deductible Options
Medicare supplements have a high deductible option on Plans F. On this plan, a person with Medicare Parts A and B can choose a plan with a deductible of $2,000 in 2011. The benefit for the insured is lower premiums. Often the premiums are half of what they would have been if the standard Plan F had been chosen. Obviously, the downside is more financial responsibility on the part of the insured. With a high deductible plan, the insurance company does not start paying until the insured has met the...
Medicare Deductible Changes
Each year Medicare adjusts the Medicare Part A and Medicare Part B deductibles. These adjusts seem to reflect higher costs of providing health insurance coverage due to inflation and the rising cost of health coverage. The Medicare Part A deductible went from $1,100 to $1,132 in 2011. That is a $32 change 2.9% . The Medicare Part B deductible went from $155 to $162 in 2011. That is a $7 change 4.5% . Each year these deductibles seem to rise. Fortunately, a Medicare recipient can purchase a Medic...
Medicare Supplement Bill Payment
If you have a medicare supplement, also known as a medigap policy, how is your doctor paid for the service provided? Medicare supplement insurance companies in most cases pay the doctor directly. This is the case if the doctor "participates" with Medicare. It would be advisable to have the doctor's office note on the Medicare claim form that you have a medicare supplement and want the doctor paid directly. You also want to be sure that the doctor has the right insurance company name and policy n...
Medicare Supplement Rates
Attained-age. This means the medicare supplement rate increases as you get older. This may be each year or every 5 years at age 70, 75, 80, etc. for example. Often medicare supplement rate increases are very modest. Another component to rate increases is inflation. Companies sometimes adjust rates to address the rising cost of health insurance as well as inflation in the marketplace. Medicare supplements are also sold as issue-age policies. This means the premiums will not increase due to age. O...
High-Deductible Medicare Supplements
There is a Medicare Supplement insurance plan that comes in a high-deductible option. That is Plan F. This Medigap Insurance Plan with the high deductible option does not begin to pay until the insured has personally paid $2,000 in 2011. This deductible which can be raised each year. The advantage of the high deductible policy is that the premiums are lower. The disadvantage is that the policy does nothing until you have personally met the deductible. This could make the out of pocket cost much ...