Blue Cross Blue Shield Medicare Supplements

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Blue Cross Blue Shield Medicare Supplement PlansBlue Cross and Blue Shield were originally two companies. Well, Blue Cross opened in 1929 and Blue Shield was formed in 1939. The Company that now insures over 106 million merged in 1982.

Blue Cross and Blue Shield are licensed independently as well as locally throughout the country into different regions.

However, the business plan keeps the Blue Cross Blue Shield community based, while still providing global coverage.

The association headquarters for Blue Cross Blue Shield is in Chicago, Illinois. While Blue Cross Blue Shield is ever-growing, their commitment to the community continues to grow.

In 2017 Blue Cross Blue Shield was reported to have invested $284 million in community health initiatives.

Blue Cross Blue Shield stands apart from its competitors by serving over 5 million government employees as well as over 17 million unionized workers, families, and retirees.

In total, Blue Cross Blue Shield insures about 1 in 3 Americans.

Blue Cross Blue Shield Medicare Supplement Plan Benefits

The one thing you can count on with Blue Cross Blue Shield is they will continue to evolve in their role as an industry leader.

Blue Cross Blue Shield processed 5 million Medicare claims the first year Medicare was offered.

Due to insurance regulations, policy provisions may vary by state; you should confer with a licensed broker before enrolling in any insurance plan.

All Blue Cross Blue Shield Medicare Supplement Plans include the following basic benefits:

  • Hospital coinsurance
  • Medicare Part A supplemental hospital care for an additional 365 days after Medicare benefits end
  • Medicare Part B coinsurance for hospital outpatient services, generally 20% of Medicare-approved costs
  • First 3 pints of blood each year
  • Hospice care

Blue Cross Blue Shield Plan F

Medigap Plan F is the most comprehensive Medigap Plan on the market.

Essentially, the beneficiary pays their premium and nothing else.

Plan F covers the beneficiary’s portion of the cost. This includes excess charges of Medicare-approved amounts.

In addition, any beneficiary on Plan F will experience no out-of-pocket expenses during hospital or doctor visits.

Plan F includes the Medicare basic benefits plus:

  • Part A hospital deductible for inpatient services
  • Skilled nursing facility coinsurance (for days 21 – 100)
  • Part B deductible for qualified medical and hospital services, generally for outpatient services
  • Part B excess charges benefit for charges exceeding the normal Part B limit
  • Foreign travel medical emergency coverage at 80%

Medigap Plan F has been the most popular Supplement Plan because it pays for all covered expenses.

This popularity has caused increasing costs and eventually the removal of this first dollar plan in 2020.

However, Plan F has become cost-prohibitive for many beneficiaries, driving many beneficiaries towards Plan G.

Blue Cross Blue Shield High Deductible Plan F

High Deductible Plan F provides the same benefits as the standard Plan F.

Although, with this plan a high deductible that must first be satisfied.

In other words, you get great coverage at a much lower rate.

After the deductible has been met, the High Deductible Plan F pays all covered expenses, including:

  • Part A hospital deductible for inpatient services
  • Skilled nursing facility coinsurance (for days 21 – 100)
  • Part B excess charges benefit for charges exceeding the normal Part B limit
  • Foreign travel medical emergency coverage at 80 %

Blue Cross Blue Shield Plan G

Plan G has quickly gained notoriety as the most popular plan available to beneficiaries.

Blue Cross Blue Shield Plan G gives the beneficiary a fully comprehensive coverage option for a lower premium.

However, the only charge not covered by Medigap Plan G is Medicare’s Part B deductible.

Blue Cross Blue Shield Plan N

Beneficiaries who are aging into Medicare are cost conscientious and want the best coverage for their dollars spent should look at the Medigap Plan N.

Plan N is considered an affordable option as it gives substantially more coverage than Plan A.

However, due to a few copayments, the cost has remained reasonable. Also, Plan N is a favorite among cost-conscious Beneficiaries.

Plan N includes Medicare’s basic benefits along with additional coverage for hospitalization plus:

  • Part A coinsurance (generally 20% of Medicare-approved costs) – for hospital outpatient services
  • Part B hospital deductible for inpatient services after a $50 copayment ER and/or a $20 copayment for a doctor’s office visit
  • Skilled nursing facility coinsurance (for days 21-100)
  • Foreign travel medical emergency coverage at 80%

Additionally, Blue Cross Blue Shield provides other coverage options such as Prescription Drug coverage, Medicare Advantage as well as Dental Plans.

Blue Cross Blue Shield Rate Increase

Every insurance company has an annual rate increase. This is a normal part of Medigap coverage; although, rate increases are hard to predict and vary by state. So, Medigap Plan G in Texas will have a totally different rate increase than the same policy in California.

Also, Plan G rate increase in Texas will be different than the Plan N rate increases in Texas. This is why it’s so beneficial to work with one of our agents. Our brokers are licensed and educated on all the top carriers in your service area. This means they can find you the best policy at the best price.

Blue Cross Blue Shield Rating

When it comes to carrier ratings AM Best is the standard for Medicare Supplement plans. Blue Cross Blue Shield plans are offered in the United States and in the Global Market.

AM Best is has declared that Florida Blue, a Blue Cross Blue Shield company has an A+ rating that equates to Superior. They also have a rating of an A+ from the BBB.

This Superior rating means Florida Blue has a superior ability to meet their ongoing insurance obligations.

Compare Blue Cross Blue Shield Medicare Options in Your Area

When you need a reliable agent to help you understand your Medicare options, give us a call or fill out our form to get a quote.

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