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Wednesday, June 13 2012
Medicare covers thousands of dollars worth of medical expenses for Texas residents each year. In 2009, the average Medicare spending per enrollee in Texas was $11,479 as opposed to the national average of $10,365. Expenses for hospital care, clinical services, home health care, dental care, and durable medical products were higher than the national average, though expenses for prescription drugs, nursing home care, and other professional services were lower. While Medicare coverage is certainly an important part of handling your medical expenses, it leaves many gaps. This is where Medigap coverage comes in. Understanding Medigap insurance rates in Texas will help you choose the best plan.
There are ten different Medigap plans available to Texas residents. The Medigap insurance rates in Texas associated with these plans will vary based upon the provider. One may offer a very low deductible while another offers Medigap coverage at a much higher rate. When you're comparing coverage, there is one very important fact to understand. All Medigap insurance plans are created equal by law, well at least when it comes to benefits per lettered plan. Medigap Plan A coverage will be exactly the same no matter what provider you're working with. The only thing that changes is the amount you are paying for your plan. It's extremely important to compare several options to get the best deal.
Though all plans designated by the same letter will be the same, there are several different plans to explore, and each one is associated with different Medigap insurance rates in Texas. Plan A is the most basic choice. This option must be provided by all Medigap insurance providers. Plan B offers slightly more coverage with the addition of part A deducible coverage. Plan D includes basic coverage, Part A deductibles, skilled nursing coinsurance, and foreign travel emergency coverage. Plan C offers everything mentioned previously as well as coverage for Medicare Part B deductibles. Plan G offers everything in Plan D in addition to Part B excess coverage.
The most comprehensive Medigap coverage available is Plan F. This offers basic benefits as well as coverage for Part A and B deductibles, Part B excess expenses, skilled nursing coinsurance, and foreign travel emergencies. I like to call Plan F the convenience plan, because if Medicare approves the charge it conveniently picks up the rest of the charges.
Plans K and L offer basic benefits as well as partial coverage for Part A deductibles and skilled nursing coinsurance. Plans M and N cover basic benefits, Part A deductibles, skilled nursing coinsurance, and foreign travel emergencies. Once you've determined the plan that's best for you, compare various Medigap insurance rates in Texas to make sure you're getting the lowest price for your chosen coverage. A skilled Medigap agent can help. This is where we come in; give us a call at 1-866-849-5465 for your free, no-obligation Medigap insurance plan review.
Posted by: Cameron Kirchoff AT 03:55 pm   |  Permalink   |  Email
Friday, February 18 2011

Medicare Supplement Rates in Texas

When searching for the best insurance coverage to meet your specific needs, it all depends on the type of insurance that you are shopping for to see where comparisons will differ. What I mean is that when shopping for a Major Medical Plan in Texas through companies like Blue Cross Blue Shield, Humama, or United Healthcare, there is more to look at than just price. These companies will offer an array of deductibles, plans with or without co-pays, even different co-insurance options. So, doing your homework can payoff when finding the right coverage for your needs, but when it comes to other types of insurance you may only have to look at price and company stability to find the best coverage available with the best rates.
A good example would be Term Life insurance coverage. If you know how long you want the term to be and what face amount you, than there is really no difference in coverage from one insurance company to another. What you will find is different monthly rates, different financial ratings of insurance companies, and maybe some type of benefit rider that you can added to your policy that other companies do not offer. Point is, a $100,000 20yr Term, is life insurance coverage that will cover you for 20 years in the amount of $100,000.
The same is true about Medicare supplement insurance plans in Texas. All Plans are standardized, and you can choose from Plans A – N. What this means is that if you choose a Medicare supplement Plan F as your coverage, you are not going to find any difference in basic benefits from one insurance company to another. So, like the example of the Term Life coverage, you are back to looking at the Medicare supplements rates or premiums from different insurance companies, and I strongly suggest looking at the financial stability as well.
Even though it sounds like taking the lower premium for a Texas Medigap insurance coverage is the way to go, you will also want to keep in mind a few more factors that can come in to play the longer you have your coverage:
  • How does that company rate their premiums? Do they use attained age, issue  age, or a community rating?

  • Making sure you know if the plan being quoted is a standard Medicare supplement insurance plan or have you been quoted a Select plan price.

  • Knowing if there are or how many complaints against the insurance company.
All of this information can be overwhelming to obtain, this is why we are here to help. Feel free to contact an agent today to have any questions or concerns you may have answered, as well as a free Medicare insurance review in which we will provide side-by-side Texas Medicare supplement quotes from top rated insurance companies throughout the state.  
Posted by: Cameron Kirchoff AT 02:10 pm   |  Permalink   |  0 Comments  |  Email
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