Retirement years are meant for enjoying all the things you’ve never had time for before. You shouldn’t have to spend your time worrying about affordable healthcare. However, many seniors find that original Medicare benefits simply do not provide the coverage they need to take care of all the health care costs for hospitalization and outpatient care. Humana Medicare plans may be able to help for costs not covered under Original Medicare.
About Humana Medicare Plans
Humana Health Insurance Company began operations in 1961 and is one of the largest U.S. health insurance companies. Humana Insurance has an excellent rating with A.M. Best and has been honored by J.D. Power & Associates with an award for customer satisfaction.
Its health insurance product offers include individual and group health insurance plans as well as Humana Medicare plans, which include both Medicare supplement and Medicare Advantage Plans.
Available Humana Medicare Plans (Medigap)
Medicare supplement plans are standardized and lettered A – N. Humana Medicare supplement plans vary by region. Check with your Medicare insurance broker about which plans are offered by Humana insurance in your area.
Here are some of the more common Medicare supplements today:
Medigap Plan A: This plan is the most basic supplement. It covers your Part A coinsurance and 365 days additional coverage in the hospital when original Medicare benefits end. It also covers your Part B coinsurance which is the 20% that Medicare does not cover on outpatient expenses such as doctor visits, labwork and surgeries.
Medigap Plan A also covers your hospice care Part A coinsurance and the first 3 pints of blood needed in case of a transfusion. You are responsible to cover your own deductibles, excess charges and skilled nursing coinsurance.
Medigap Plan C: Plan C is one of the most comprehensive plans. It covers all of the gaps in Medicare except for Part B excess charges.
Medigap Plan F: Plan F provides more benefits than the other plans. You will spend more on premiums, but you also do not have to worry about bills. It pays for all of the gaps in Medicare except for Part B excess charges. There is also a high deductible option available which will lower the premium for Plan F coverage.
Medigap Plan G: In recent years, Plan G has become very popular. It covers everything that Plan F covers except for the Part B deductible. If you can afford to pay the Part B deductible, this plan costs less than Plan F coverage. Often when you annualize your savings, you will find that it’s a better value than Plan F, but be sure to compare the numbers.
Plans K, L & N: You will receive the same basic coverage in these plans as the other plans but less of the coinsurance and copayments are paid on these plans. Premiums are also lower than some of the more full-coverage supplements.
Humana Medicare Advantage Plans
While Humana offers Medicare supplements, many people are more familiar with their Medicare Advantage plans. These plans are private plans that pay instead of Medicare. Humana operates a variety of plan types across the nation such as Medicare HMO plans, Medicare PPO plans, and in some counties PFFS or Special Needs Plans.
Medicare Advantage plans fall under Part C of Medicare. They are private Medicare plans that pay instead of Medicare. You’ll seek treatment from their network of providers in your area. In return, they offer you all the same services that Original Medicare Part A and B cover. Some Medicare Advantage plans also include Part D rolled into the plan. There may also be some limited “extra” such as preventive dental care or eye exams.
The Medicare.gov Plan Finder Tool can help find a list of available Humana Medicare plans in your area, including Part D options.
Is One Plan Better?
The right plan for you will depend on several factors including plan availability in your area, your needs and budget. It’s also important to determine any specific doctors you need to have access to, and which medications you take. There are benefits to all plans and all plans, not just Humana insurance plans, provide additional benefits to original Medicare.
Do you need a little guidance in choosing the best policy? We have licensed agents ready to help find the coverage that feels right for you.