Supplement Insurance Michigan Medicare Buyer’s Guide From Easy Medicare Advantage
Medicare is health insurance for people 65 or older, those under 65 with certain disabilities, and those of any age with End-Stage Renal Disease. Medicare will cover many health care services and supplies, but there are many costs or “gaps” that it wont cover. Michigan Medigap policies can help pay your share of your medical expenses such as coinsurance, copayments, and deductibles of Medicare-covered services. Some Medigap policies cover certain costs not covered by the Original Medicare Plan.
Part A helps cover your inpatient care in hospitals, skilled nursing facilities, hospice care, and some home health care if you meet certain conditions. Part B helps cover medically-necessary services like doctors services and outpatient care, other medical services that Part A doesnt cover such as physical and occupational therapists, and some home health. Part B also helps cover some preventive services to help maintain your health and to keep certain illnesses from getting worse. Parts C (Michigan Medicare Advantage Plans) are private insurers like HMOs and PPOs provide Part A, Part B, and, sometimes, Part D coverage to people who enroll. Part D (Michigan Medicare prescription drug coverage) helps cover prescription drug costs.
When you buy a Michigan Medigap policy, in most cases you will need to already be enrolled in Medicare Part A and Part B. Therefore, you will have to continue to pay the monthly Part B premium. You will also have to pay a premium to the insurance company. You can buy a policy from any insurance company that is licensed in Michigan to help you enroll. All new policies are guaranteed renewable. This means the insurance company cannot cancel your policy as long as you pay your premiums. Although some policies sold in the past covered prescription drugs, no new policies are allowed to include prescription drug coverage. If you want prescription drug coverage, you may want to join the Prescription Drug Plan known as Part D, which is offered by private companies approved by Medicare.
Medigap has an open enrollment period, which is the optimal time to buy a Medigap Policy. The open enrollment last for six months and begins on the first day of the month in which you are both age 65 or older and enrolled in Medicare Part B. In this period, an insurance company cannot do underwriting. You cannot be refused to buy any Medigap policy that is sold, make you wait for coverage to start or charge you more for a Medigap policy because of your health problems. An insurance company cannot make you wait for your coverage to start it is able to make you wait for coverage of a pre-existing condition which is a health condition that you had before the date of a new insurance policy. A medigap insurance company could refuse to cover your out of pocket costs for health issues for up to six month. This is called a “pre-existing condition waiting period.” If you have a pre-existing condition and you buy a Michigan Medigap policy during your Medigap open enrollment period and if you recently had creditable health coverage, the insurance company must shorten or eliminate this waiting period. There are several types of Michigan health care coverage that could count as creditable coverage for Medicap policies, however they will only count if you did not have a break in coverage. If you are without any creditable health coverage for more than sixty three days in a row this is considered a break in coverage.
It is important to understand your Medigap open enrollment period. During your Medigap open enrollment period you can buy any Medigap policy the company sells. If you apply for coverage outside of your Medigap open enrollment period, there is no guarantee that an insurance company will sell you a Medigap policy unless you are eligible for other reasons, and even then your choices will most likely be limited. Also, after your Medigap open enrollment period ends, Medigap insurance companies are allowed to use medical underwriting to decide whether to accept your application and how much to charge you for the Medigap policy.
For more info or queries please see the EZ Medicare Advantage team at www.ezmedicareadvantage.com
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