Blue Cross Blue Shield Medicare Supplements have been around for many years. This company has probably one of the most recognizable brands in America, and they’ve earned it. Founded in Minnesota in the 1930’s, this stable and reliable insurance company is one of the biggest insurance carries in the nation.
Blue Cross Blue Shield companies are independent and operated locally in dozens of markets across the U.S. They are grouped, however, into the Blue Cross Blue Shield Association.
Blue Cross Blue Shield Medicare Supplement Plans
BCBS currently offers 7 different Medigap plans. These are Plans A, F, G, K, L, and N. There is also a high-deductible version of Plan F. While Plans K and L are offered, these two Medicare supplements seem to have less interest from the public in general. It’s probably because beneficiaries who choose those plans take on a lot of cost-sharing responsibility.
Let’s take a look at the 4 Medigap plans that have the most interest from the public:
Medicare Supplement Plan A
Plan A is considered the most basic supplement plan. It covers the most important gaps in Medicare, which are your hospital coinsurance and outpatient coinsurance. In laymen’s terms, Plan A pays your daily hospital copays if you have an inpatient stay longer than 60 days. Plan A also provides an additional 365 days of coverage after Medicare Part A hospital benefits run out.
It also covers the 20% of Part B expenses that Medicare does not cover. This is truly important because many very expensive healthcare services fall under Part B, such as surgeries, chemotherapy, radiation and dialysis. With Medicare covering 80% and a Blue Cross Blue Shield Medicare Supplement Plan A covering the other 20%, you will be in good shape.
Plan A does not cover your deductibles or excess charges, though, and that’s why it is less popular than plans like F, G and N.
Medicare Supplement Plan F
Plan F is the most comprehensive Medigap plan on the market. It covers literally all the gaps in Medicare Parts A and B. This means you will have nothing out-of-pocket for any covered hospital or outpatient services. When you are in the hospital, there is no deductible or coinsurance to meet. If you have a surgery, you won’t pay a dime. Doctor’s visits, labwork, ambulance rides, chemotherapy are all covered as well.
For many decades, Plan F has been a top seller. People choosing a Blue Cross Blue Shield Medicare Supplement Plan F feel very secure. They are not only purchasing the fullest coverage, but they are buying it from a brand that is trusted.
Medicare Supplement Plan G
Plan G is the second most popular Medigap plan in the nation. It covers all the same things that Plan F covers except for your Part B deductible. When you go to your first outpatient visit of any calendar year, you will incur the Part B deductible out-of-pocket. After that, your plan functions just like Plan F for the rest of the year.
The reason so many people are turning to Plan G these days is twofold. First, the premiums are lower. Many Medicare beneficiaries don’t mind paying the Part B deductible once a year in order to get cheaper premium. The second is that Plan G has typically taken lower rate increases from year to year than Plan F. Buying a Blue Cross Blue Shield Medicare Supplement Plan G is a solid choice.
Medicare Supplement Plan N
Plan N is one of the newest Medigap plans. First offered in 2010, Plan N usually has lower premiums than Plan G. This is because you agree to pay some copays on some medical services. You’ll pay up to $20 for doctor visits and up to $50 for an emergency room visit. You will also pay the Part B deductible and any excess charges.
Blue Cross Blue Shield Medicare Supplement Plan N is a good fit for beneficiaries who want lower premiums in exchange for more out-of-pocket on the back end. Here at Boomer Benefits, we have found this to be a popular plan for healthy individuals who don’t use many medical services. They can enjoy lower premiums without incurring much back-end spending because their medical usage is low.
Medigap plan offerings vary by state. If you would like to check availability in your area, give us a call at 1-855-732-9055.
State Availability for Blue Cross Blue Shield Medicare Supplements
Blue Cross Blue Shield Medigap plans are offered in many states. Our agency can help you enroll in a Blue Cross Blue Shield Medicare supplement in any of these states. However, the states where we seem to have the most interest for Blue Cross Blue Shield Medigap plans are as follows:
If you find that the cost for a Medigap plan in your state is higher than your budget, you can also consider Medicare Advantage plans.
Blue Cross Blue Shield Medicare Advantage Plans
As the cost for Medicare Part B itself has risen, more Medicare beneficiaries have begun to consider Medicare Advantage plans. These plans are private Medicare insurance plan that pay instead of Medicare. Medicare Advantage plans cover the same benefits as Medicare Parts A and B. In other words, they provide benefits for inpatient and outpatient medical treatment.
Many Advantage plans also include a Part D drug plan.
You can find Blue Cross Blue Shield Medicare Advantage plans in many states. The plan design and availability vary by state. In most states you will find both HMO and PPO network options. BCBS HMO plans have the lowest premiums. In these plans you choose a primary care physician and you must see that doctor to get a referral if you need to visit a specialist. You must treat in the network except in emergencies.
BCBS PPO plans have more flexibility. You can see doctors in and out of the network, although out of network costs for you are considerably higher.
Ready to Explore Blue Cross Blue Shield Medicare Options?
Boomer Benefits has helped tens of thousands of Medicare beneficiaries with their plan choices. If you would like to explore Medicare supplemental options in your area, contact us for free assistance. We can help your review your plan options for all Medigap insurance companies, include BCBS.
When you enroll in your Medicare coverage through our agency, you get back-end support for your policy for as long as you have that policy. That means if Medicare denies a claim or your drug plan won’t fill one of your prescriptions, you just call Boomer Benefits. Our team will guide you on how to file an appeal or a drug exception. We also help our clients analyze which Part D drug plans offer them the lowest copays each year.
Get someone on your side with Medicare today. Call 1-855-732-9055.