Tom Milonas » coverage

Comparing Medicare Supplement Insurance Plan Coverage

Tom Milonas — Thu, 19 Mar 2009 13:03:37 +0000

For seniors who want supplement insurance, many private insurance companies offer Medicare Advantage plans with low premiums. Eligible seniors include those enrolled in Medicare Part B. Premiums are offered at lower rates because the federal government provides insurance companies subsidies to enroll seniors in the medicare supplement plans.

The Medicare Advantage medical coverage is offered by private insurance companies and is an alternative to Medicare. The following types of Medicare Advantage plans all offer medical and drug coverage together, making it simpler to purchase one policy instead of several separate policies.

1)Medicare health maintenance organizations are less expensive, but there are limitations about going outside of the network of doctors and hospitals for medical treatment.

2)Preferred-provider organizations, have a network of preferred doctors and hospitals within a state. They allow patients to see providers out of the network at increased copayments.

3) Private fee-for-service plans allows the most freedom by letting the patient see any doctor of choice that accepts the health insurance. If you already have a doctor, make sure they participate as a provider before deciding on this type of coverage.

Many Medicare Advantage plans also include vision and dental coverage and have lower copays than Medicare. Although the co-pays for more expensive services such as hospitilization and surgery tend to be higher. If seniors have had hospitalizations in the past, make sure to check out the limitations on hospital coverage with the Medicare Advantage plans.

It is important to understand all the restrictions for Medicare Advantage plans before choosing. Take the time to ask a reputable insurance agent about all the Medicare options available and compare them with other types of supplemental insurance to make an informed decision about your medical coverage.

By Guest Writer: Elliot Bigman

Approaching RETIREMENT?

Tom Milonas — Thu, 17 Apr 2008 12:54:59 +0000

During your working years,your employer probably provided your health plan options.

However ,upon retirement, it is going to be up to you. You may not know it, but there are a variety of Medicare plans to consider.

As a representative of health care plans, and one who focuses on Medicare plan options,I can help provide you with a no-obligation Medicare analysis.

Call me today to learn about the types of plans available to you. I’m certain I can help you review your options and find a plan that fits your retirement needs as well as your budget.

One of the fastest growing plans is a Medicare Advantage Plan that:

* has predictable monthly health premiums

*includes prescription drug coverage

*offers predictable payments for doctor office visits

*Eliminates the need for costly Medicare supplement (medigap) policy

*gives you better coverage than original medicare

Call today. I’m here to help

Tom

10 Things you should know about Health Insurance

Tom Milonas — Tue, 08 Jan 2008 03:30:20 +0000

1. Insurance can be expensive, but not so much as not having any!

There are many ways to save money on insurance, but going without coverage isn’t one of them. Medical bills from even a minor car accident can delete your savings – a major illness can push you into bankruptcy.

2. Comparing options can be confusing!

There is no such thing as standard coverage. Benefits and costs vary widely from plan to plan. If you have choices, you’ll have to examine each one closely to find the best deal. This is where you need the expertise of a licensed agent.

3. Price should not be the only reason for choosing a plan!

What your insurance covers is just as important as, and sometimes more important than how much it costs. Your best value is the plan that addresses your particular needs.

4. Know your plan!

Your health insurance will cover you for a hospital stay, but how about doctor visits, prescription drugs and dental? Know and understand your coverage

5. HMO or PPO?

Plans with network generally cost less, but you are restricted to their doctors and hospitals. Freedom of choice can cost you more in premium.

6. If coverage is available from work, it may be your best deal.

Group coverage, when paid by an employer, is almost always a better deal than anything you can get on your own. In a group setting, you have far less chance of being declined due to pre-existing conditions. The risk is spread among all members of the group.

7. Check out your providers before you join!

A growing number of public and private sources compile information on the track records of individual doctors, hospitals, and health plans.

8. If you lose your job you are still entitled to insurance!

State and federal regulations protect you from losing your health coverage in the event you lose your job. Unfortunately, they do not protect you from high premium costs.

9. What if you and your spouse both work and are entitled to group plans?

If you and your spouse both get health insurance at work, you must decide whether it makes more sense to have two policies or for one of you to cover the other. If you have kids, you need to decide who’s going to cover them.

10. Ask questions about taxation.

Medical expenses, including insurance premiums, are not tax deductible until they exceed 7.5 percent of your income. However, if you’re self-employed or your employer offers a flexible spending account, you can get a tax break without meeting the threshold.

what is the difference between an advantage plan and a Supplement?

Tom Milonas — Sat, 05 Jan 2008 15:20:29 +0000

Medicare Advantage Plans

Medicare Advantage Plans are health plan options that are part of the Medicare program. If you join one of these plans, you generally get all your Medicare-covered health care through that plan. This coverage can include prescription drug coverage. Medicare Advantage Plans include:

Medicare Health Maintenance Organization (HMOs)
Preferred Provider Organizations (PPO)
Private Fee-for-Service Plans
Medicare Special Needs Plans

When you join a Medicare Advantage Plan, you use the health insurance card that you get from the plan for your health care. In most of these plans, generally there are extra benefits and lower copayments than in the Original Medicare Plan. However, you may have to see doctors that belong to the plan or go to certain hospitals to get services.

To join a Medicare Advantage Plan, you must have Medicare Part A and Part B. You will have to pay your monthly Medicare Part B premium to Medicare. In addition, you might have to pay a monthly premium to your Medicare Advantage Plan for the extra benefits that they offer.

If you join a Medicare Advantage Plan, your Medigap policy won’t work. This means it won’t pay any deductibles, copayments, or other cost-sharing under your Medicare Health Plan. Therefore, you may want to drop your Medigap policy if you join a Medicare Advantage Plan. However, you have a legal right to keep the Medigap policy.

To compare Medicare Advantage Plans, go to the Medicare Options Compare.

Medigap (Supplemental Insurance) Policies

A Medigap policy is health insurance sold by private insurance companies to fill the “gaps” in Original Medicare Plan coverage. Medigap policies help pay some of the health care costs that the Original Medicare Plan doesn’t cover. If you are in the Original Medicare Plan and have a Medigap policy, then Medicare and your Medigap policy will pay both their shares of covered health care costs.

Insurance companies can only sell you a “standardized” Medigap policy. These Medigap policies must all have specific benefits so you can compare them easily.

You may be able to choose up to 12 different standardized Medigap policies (Medigap Plans A through L). Medigap policies must follow Federal and State laws. These laws protect you. A Medigap policy must be clearly identified on the cover as “Medicare Supplement Insurance.” Each plan, A through L, has a different set of basic and extra benefits.

It’s important to compare Medigap policies because costs can vary. The benefits in any Medigap Plan A through L are the same for any insurance company. Each insurance company decides which Medigap policies it wants to sell.

Generally, when you buy a Medigap policy you must have Medicare Part A and Part B. You will have to pay the monthly Medicare Part B premium. In addition, you will have to pay a premium to the Medigap insurance company.

You and your spouse must each buy separate Medigap policies. Your Medigap policy won’t cover any health care costs for your spouse.

For additional information on Medigap policies, including why you would want to buy a Medigap policy and information about what Medigap policies cover, please read our publication, Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare.