Once you turn 65 years old, Medicare is available as your healthcare insurance, and there are a number of aspects to these programs. Once you enroll in Part B of Original Medicare, you can enroll is a Medigap plan to fill in the coverage gaps.
Original Medicare covers:
- Medicare Part A – 80% of in-hospital costs
- Medicare Part B – expenses for your physicians, outpatient treatment and medical supplies
- Medicare Part C – called Medicare Advantage, this cannot be used in combination with a supplement
- Medicare Part D – prescription medication coverage
Texas Medigap Insurance Plans
There are 10 plans labeled with the letters of the alphabet. These benefits include the first three pints of blood needed in a medical procedure, skilled nursing care and the deductible costs of Medicare Part A and B. It also covers foreign travel emergency coverage up to your particular plan limit. Insurance company rates vary, Texas Medicare Supplement Plan F coverage is the most popular option, since it offers the most benefits compared to the other alternatives.
A well-known Texas Medigap carrier is Aetna Medigap plans. Aetna offers many insurance products including group life, medical, pharmacy, dental, behavioral health, etc. Their one of the nation’s leading healthcare companies, serving over 46.7 million people.
Texas Medigap Plans for Disabled Under 65
Some states offer certain supplement plans to Medicare beneficiaries under the age of 65, Texas offers only Plan A.
According to Liz Crawford, a licensed agent, the rate will NOT be the same to those under 65 compared to those over 65.
13% of the total Texas population are Medicare beneficiaries, with almost 3.7 million recipients in 2015, beneficiaries with ESRD made up 1.3% of those recipients. In 2013, the distribution of beneficiaries was 16% being disabled and the remaining 84% reached age 65.
Texas Medigap Plan F Coverage Provides the Following:
- Part A hospital coinsurance costs up to an additional 365 days after Medicare benefits are exhausted
- Part B coinsurance coverage or co-payments for outpatient services, supplies, physician services, treatment and other items
- First three units of blood for an approved medical procedure
- Part A hospice care co-payment
- Skilled Nursing Facility co-insurance
- Medicare Part A deductible for hospitalization
- Medicare Part B deductible for outpatient services
- Medicare Part B excess charges, which is the difference between a provider charge and Medicare’s limit
- Foreign Travel emergency expense up to plan limits
- Medicare preventive care Part B co-insurance
Medicare Supplement Plan G is exactly like Plan F, except it will not cover the deductible of Medicare Part B. There may be other Texas Medicare Supplement insurance costs, which include monthly premiums, annual deductibles, co-payments and co-insurance payments.
These costs vary between insurance companies; however, insurance companies must notify enrollees in advance of premium increases. Rates vary according to where you live, your age, gender, and health.
For a Texas Medigap rate comparison shopping guide, contact one of our licensed advisors to go over the options in more detail. Medigap Plans in Texas have many great options to choose from. Be sure to make the best choice to fit your healthcare needs.
Texas Medigap Open Enrollment
Your Texas Medigap Open Enrollment Period begins the first day of the month you turn 65 and are enrolled in Part B of Medicare. This period lasts for 6 months and We’ll give you guaranteed issue. This means you cannot be denied coverage or Target a higher premium due to any pre-existing health conditions.
