How New Medicare Rule Will Affect Medicare Supplement Insurance

1. Just Us Insurance Life, Health, and Medicare insurance company in San Diego California

2. How New Medicare Rule Will Affect Medicare Supplement Insurance • If you are thinking about covering your health care expenses, there are chances that you may be looking for a Medicare Supplement. Though Medicare Part A and Part B, also called Original Medicare, cover some of the healthcare expenses, they don’t pay for every expense. Choosing Medicare coverage is bewildering enough. Now, a new rule takes effect next year appears to be complicating matters for some enrollees. • According to a new update, the government is making some changes in Medicare supplement insurance from next year. Starting from January 1, 2020, Medigap plans will not cover Part B deductible for new people buying the insurance. Due to this, Plans C and F will no longer be an option under Medigap from 2020 beginning. However, If you already bought either of these 2 plans before January 1, 2020, you'll be able to keep your plan.

3. 3 Easy Steps to Prepare Yourself For Medicare • Enroll in Medicare Part B Original Medicare’s Initial Enrollment Period starts three months before you turn 65 and lasts for seven months after the enrollment. Many people after turning 65 automatically qualify for Medicare Part A (Hospital insurance) if they have paid Medicare taxes while working. But Part B (Medical Insurance) is optional and requires enrollment. It’s important to enroll in Part B within the specified period or else you may have to pay a late fee and experience a gap in health coverage.  • Choose your Medicare Plan Medicare insurance has two options: Original Medicare (Parts A and B): It covers hospital inpatient care, doctor visits, outpatient services, preventive care, and other services. If you require prescription drug coverage, you will have to buy Part D through a private Medicare insurance company and must do so within the Initial Enrollment Period to rule out any possible late penalty.  • Review your Medicare Plan. Once you have enrolled in Medicare, go through your “Annual Notice of Change” letter. By doing so, you may discover opportunities for additional savings and new health benefits.

4. What you need to look for when Comparing Medigap Policies • Though the federal health insurance program offers you good coverage, it doesn’t cover everything. Opting for a supplemental Medigap policy from a private insurance carrier can help you get additional benefits—that are not covered in the Original Medicare and get the most out of your health insurance policy! Because Medigap plans are offered by private insurance carriers, comparisons are highly recommended! Before finalizing a policy, compare the different types of Medigap plans in Ramona that exist—most of them cover a different range of Medicare cost-sharing. • Though Medigap plans are standardized in most states, choosing what will work for you can be a confusing task. A reputable and experienced medical insurance broker can help you find the right plan that best fits your budget and needs.

5. 3 Reasons Why You Might Want To Switch Your Medigap Policy • Though opting for a Medigap (Medicare Supplement) plan is a good move to pay for health care costs not covered by Original Medicare, such as co-payments, deductibles, and expenses made by you towards health care when you are outside the U.S, there are times when you would want to switch your Medigap policy and buy a different plan. Although in most cases, you don’t have a right under federal law to switch Medigap policies, some states, such as California has more generous requirements. In California, Medigap enrollees, under the “Birthday Rule” get a 30-day window following their birthday each year when they can switch to another Medigap plan without medical underwriting with better or the same benefits. If you are not satisfied with your current Medicare Supplement plan, and your birthday is approaching, you can switch to a different plan that better suits your needs. 

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