Medicare Supplement plans in Texas include 10 standardized options, lettered A – N. Each insurance company must offer at least Plan A, but can offer any of the other plans as well.
We have great insurance companies offering plans here. Many offer the most popular plans like Plan F and Plan G.
Our agency is also located in Fort Worth, so we can provide you great information on Medicare supplement plans here.
Medicare Supplement Plans in Texas
As you may already know, Medicare only covers 80% of your outpatient costs. It also leaves you paying deductibles. The Part A hospital deductible alone is $1316 in 2017.
All Texas Medicare supplement plans cover the other 20% of your outpatient expenses. Some Medicare supplement plans also cover the hospital deductible.
People who choose Medicare Supplement Plan F have no out of pocket spending beyond their monthly premium. For this reason, we call it first dollar coverage.While Plan F has been popular for a long time, Plan G is priced competitively.
Many Plan G policies may have lower rate increases from year to year than Plan F policies. It’s worth checking out so that you can consider which Texas Medigap plan best fits your needs and budget.
The best time to buy a Medicare supplement is during the 6 months after you enroll in Part B. This open enrollment window allows you to purchase any Texas Medigap policy without health underwriting. After this window expires, you may have to answer health questions when you apply.
Our agency works with some of the best Texas Medicare Supplement Plan F and Plan G insurance companies, such as Aetna Medicare Supplements and Mutual of Omaha Medicare Supplements. There are over 30 great carriers offering comprehensive plans. Feel free to check out our reviews of these carriers.
Texas Medicare Supplement Plan Features
Medicare supplement plans in Texas have some common features. First, you can choose any doctor, no matter who your Medicare supplement carrier is. There are over 880,000 healthcare providers accepting Medicare in America. You can see any of these doctors at any time, regardless of which insurance company you purchased your Medigap policy from.
Another feature is that there are no referrals required. These plans have no networks, so you are not required to see a primary care physician first to get a referral to see a specialist. You can book your own appointments with doctors hassle-free.
All Medicare supplement plans in Texas are also guaranteed renewable. Your coverage can never be cancelled based on a health condition that you develop. As long as you are paying your monthly premiums on time, your Medicare supplement will remain in place and be there for you when you need it.
Leaving Employer Coverage for Texas Medigap plans
Some people delay enrollment into a Medicare supplement because they have other creditable coverage, such as group health benefits. These people may then later be eligible to buy a supplement outside of their open enrollment window under guaranteed issue rules.
In Texas, to qualify for guaranteed issue, you must provide proof that you involuntarily lost your other health insurance coverage.
If you can provide this proof, the law allows you the right to purchase certain Medicare supplement plans within 63 days of the end of your prior coverage. The insurance company cannot place any restrictions on pre-existing conditions if you apply during this window.
Let’s say you continue to actively work past age 65, and you remain enrolled in your large employer’s group health insurance plan. Later when you retire and leave that plan, the loss of that coverage will create a special enrollment window of 63 days. During this time, you can purchase a Medigap policy without fear of being turned down for health reasons.
Sometimes we find that leaving the employer coverage for Medicare is actually cheaper for you. For this reason, you should carefully review your coverage options when you first enroll in Medicare Part B.
Compare costs for your employer insurance against the cost of Medicare and a Medigap plan. Consider all factors – cost, health status, etc – before making your choice.
Medicare Advantage Plans in Texas
Some people may not be able to afford Medigap coverage. Fortunately there are many Medicare Advantage Plans in Texas to look into as an alternative.
Medicare Advantage plans are designed for people who are willing to get their care from a network of doctors. You will pay some costs as you go along, like daily copays for hospital stays and doctor visits.
This is different than Medicare supplement plans, which allow you to see any doctor who takes Medicare. On a Texas Medicare Advantage plan, you must stay within your plan’s network to get the best pricing for your care.
You can read more about the differences between Medigap plans and Medicare Advantage plans here.
Insurance carriers offer a wide variety of Medicare Advantage plans in Texas from several different reputable insurance companies. Plans are available by county. You must enroll in both Medicare Part A and Part B. You must also live in the plan’s service area to be eligible. Our agency can help you compare plan options.
Most Medicare Advantage plans are an HMO or PPO format. HMO plans usually require you to choose a primary care doctor. You will see him or her first to get a referral if you need to see a specialist.
PPO plans are usually more flexible, allowing you to see doctors without referrals. You can also see out-of-network doctors at higher cost.
Medicare Savings Programs Texas
For certain low-income people, Medicare premiums can be a hardship. If you find it difficult to pay for Medicare Parts B and D, you can consider applying for Medicare Savings Programs in Texas. This program helps to pay for some or all of the monthly premiums, copayments and deductibles that you might experience on Medicare. There are different levels of qualification.
It’s easy to apply for a Medicare Savings Program by contacting the state Medicaid office. Just dial 211 or visit www.yourtexasbenefits.com. This helpful website will help you learn about the benefit programs offered and to find out if you should apply for benefits. You can also find a benefits office near you where you can speak with a representative. People already enrolled in a savings program can also use this site to renew benefits.
Get Help with Texas Medicare Supplements
With so many options to choose from, it can be overwhelming to try to find the right coverage. We can make this easier for you in several ways. First, our agents will explain Original Medicare to you so that your understand your base benefits. Then we can help you narrow down to which main type of coverage feels best for you.
Finally, we provide a comparison report for Medicare Supplements Texas so that you can see each company’s rates, financial ratings and even their history of Medigap rate increases. Decisions are easy when you have the right data.
To speak with a licensed insurance agent about your plan options, contact Boomer Benefits today: