Michigan has a lot of brand name carriers offering both Medicare supplements and Medicare Advantage plans. Both types of Michigan Medicare plans fill in the gaps in Medicare and help you to reduce your potential out-of-pocket risk.
As a new Medicare beneficiary, you will be entitled to a one-time Medigap open enrollment period. This begins on the first day of the month during which you are both age 65 (or older) and also enrolled in Medicare Part B. During this period, you can choose any Medicare supplement in Michigan without fear of decline for health conditions.
Michigan Medicare Supplements
Michigan Medicare supplement plans follow the same standardized benefits outlined by our federal government. If you are age 65 or older, you can apply for any one of these 10 standardized Medicare supplement plans in Michigan. You’ll know exactly what benefits each plan provides.
Medigap insurance plans pay the difference between what your Original Medicare benefits provide, and what your Medicare provider charges. Without a Medicare Supplement (Medigap) plan, you must pay for things such as deductibles, copays, and co-insurance. Medicare Part B pays for only 80% of your outpatient expenses, so your risk is high without a supplement.
A Medicare supplement pays these things for you. Medigap Plan F is one of the most popular Medigap plans in Michigan. Plan F covers all of the deductibles and co-insurance that are not covered by Medicare. When you enroll in a Medicare supplement in Michigan, you can also see any provider who accepts Medicare in the nation.
However, Plan F will no longer be available to new Medicare enrollees after 2020 starts. If you have Plan F now, you can keep it for the coming years. Medigap Plan G will become the new most comprehensive plan available in Michigan. With this plan, all you pay is the Part B deductible each year, and then you’re covered at 100%.
Michigan Medicare Beneficiaries Under 65
If you are under age 65, insurance companies in Michigan must only offer you Medigap Plan A or Plan C. They do not have to offer Plan F or other plans. The insurance carrier can also charge more for these policies than they might charge someone who is age 65. For this reason, people who are under 65 on Medicare in Michigan often prefer to consider a Medicare Advantage plan.
Michigan Medicare Advantage
A Medicare Advantage plan is a private health insurance plan that pays instead of your Medicare. Each plan has a network of doctors in Michigan that you will seek care from. You will pay copays for your health care services as you go along. For example, you might pay $10 to see your primary care doctor or $45 to see a specialist. You will also have daily copays in the hospital. So, while the premiums on Medicare Advantage plans can be lower than Medigap plans, you sometimes will have more back-end spending.
One thing people often like about Advantage plans is the included Part D drug card. Many plans roll this right into their benefits so that you use the same insurance card at the pharmacy and at the doctor’s office.
Part D Plans in Michigan
If you choose the Medigap route, then you’ll need a separate Part D plan for prescription coverage. There are generally about 10-20 plans available in each zip code. The national average premium for Part D plans is about $35.
To find the best Part D plan for you, you can use the Medicare Plan Finder Tool at Medicare.gov. This tool will list all available plans in your area and can show you the copays for your drugs. However, if you have your Medigap plan through Boomer Benefits, we do this analysis for you, so you don’t have to worry about figuring out which plan is the most cost-effective.
Common Questions About Michigan Medicare:
Here are some common questions about Medicare Supplements in Michigan.
The best time to apply for a Medicare Supplement plan is during your 6-month Open Enrollment window. During this time, you aren’t required to answer any health questions.
Michigan offers all of the Medigap plans available on today’s market. However, the plans available to you specifically will depend on your zip code and when you became eligible for Medicare.
Michigan only requires its insurance carriers to offer Plan A and Plan C to beneficiaries under 65. However, if you became eligible for Medicare in 2020 or later and are under 65, you may only have Plan A as an option.
Choosing the Right Plan for You
To determine the most suitable plan for you, contact a Boomer Benefits agent. We are licensed in Michigan and can help you determine whether your doctor participates in any of the Michigan Medicare Advantage plan networks. Our agency can also provide you a comprehensive report on the insurance companies offering supplements in your county. This information will help you to decide which coverage is the best fit for you based on both price and benefits.
Our agency’s services are free. You will pay exactly the same amount for your coverage as if you had done the research on your own. We just make it a lot easier for you. We speak Medicare so that you won’t have to!