Arkansas Medicare Supplements were created so that you could have peace of mind about your medical expenses under Medicare.
Original Medicare Parts A & B do not cover everything. There are quite a few costs which get passed on to you. These include things like your deductibles and also the 20% of all of your outpatient medical bills that you are responsible for.
Arkansas Medicare Supplement Choices
There are 10 standardized Medigap plans to choose from in your state. All Medigap plans have the same basic structure. It’s just that some plans cover more Medicare cost-sharing expenses than others so that you can choose your level of coverage.
Medicare supplement plans are labeled A – N. There are a few plans that are popular sellers. Those are:
- Medigap Plan F
- Medigap Plan G
- Medigap Plan N
Medicare Supplement Plan F
For decades people have liked Plan F because it covers all the gaps in Medicare Parts A and B. It pays your deductibles, your coinsurance, and your copays. In 2020, Plan F will be phased out. People who currently own it will be grandfathered in, but new enrollees will no longer be able to purchase it. After 2020, the most comprehensive supplement will be Plan G.
Medicare Supplement Plan G
Plan G covers all the same gaps that Plan F does except for the Part B deductible. You will pay your own Part B deductible once per year. Other than that, the plans work exactly the same. All those choices can sometimes make things overwhelming.
If you are new to Medicare or just shopping for a better rate, our agency can help. We can provide quotes for any Medigap plan you are interested in. For example, if you decide on a Medicare Supplement Plan G, then we can quote various carriers who offer that plan. Shopping for the best rate is easy since all Plan Gs are the same.
For example, a Plan G from Aetna has the same coverage as Plan G from United Healthcare. It helps to do the math as well. Although Plan F covers all the gaps, Plan G can sometimes be more cost-effective if the premium makes up for the Part B deductible you have to pay.
Medicare Supplement Plan N
Plan N is becoming a popular plan in Arkansas as well. Plan N covers everything Plan G covers except for Part B excess charges. These are charges you can experience if your doctor doesn’t accept Medicare assignment.
Plan N also has copays you pay for office visits and emergency room visits. You will have an up to $20 copay for office visits and an up to $50 copay for ER visits. Because of these copays, Plan N usually has lower premiums than Plan G.
Medicare Under 65 in Arkansas
It’s important to note that in Arkansas, state law only requires Medigap carriers to offer plans to people 65 and older. They do not have to offer plans to people under 65 on disability, so people under 65 will need to look at Medicare Advantage plans instead.
When they reach 65, they will get a new open enrollment window and be able to switch to a Medigap plan at that time. However, while they are under 65, Medicare Advantage plans make a great choice.
Arkansas Medicare Advantage Plans
Medicare Advantage plans were created as part of the Balanced Budget Act of 1997. These private plans pay instead of Medicare. You get all of the same Medicare-covered services, but there are different rules and restrictions for how you might access them.
Advantage plans are generally lower in price than Medigap plans because you agree to use their network of doctors. Some networks are HMO style, where you must treat in the network except for emergencies. Other plans might have HMO-POS or PPO networks, and in these plans, you can see doctors outside the network at a greater cost.
With Medicare supplements, you pay more up front, but less on the back end. With Medicare Advantage plans, it’s the opposite. You will have more costs as you go along. For example, you might spend $10 to a primary care physician, or $50 to see a specialist. Hospital stays might cost $200 per day or $500 per stay. It varies by plan.
It’s important to check with your doctors before enrolling in any Arkansas Medicare Advantage plan. Confirm that they are in the network for the plan you wish to enroll in.
Get Someone on Your Side
There are many choices of insurance carriers for both Arkansas Medigap plans and Arkansas Medicare Advantage plans. Sometimes it is hard to know which one is right for you.
We can help by giving you a detailed analysis of how each plan works, and which companies have strong financial ratings. Furthermore, we can help you look at their rate increase histories.
If you need assistance with Arkansas Medicare plans, give us a try. You can reach us at the toll-free number at the top of this page, or use our online contact form to request assistance: