Medicare Supplement Plans in Alabama
Medicare Supplement Plans in Alabama protect you from expensive medical costs. Since Medicare has “gaps” in coverage, buying additional insurance is a recommendation by any agent.
Many seniors search endlessly for the best Medicare Supplement policy they can afford. However, sometimes plans can be expensive and unnecessary.
Below we have a guide to Alabama Medicare Supplement Plans; the information includes information for those turning 65, over 65, and those on Medicare disability.
Alabama Medigap Plans in 2020
Medicare Supplement Plans in Alabama are health policies that provide extra coverage. Out of pocket costs such as deductibles, coinsurance, and copayments have coverage through Medigap.
Private health insurance companies offer Medigap plans to help fill the holes in Medicare. For example, if James only has Medicare, he’s at risk for high out-of-pocket healthcare costs.
Let’s say James becomes inpatient in the hospital because of severe chest pain; he’ll pay the Part A deductible and 20% of the costs.
It’s important to understand that the Part A deductible isn’t a once a year deductible, it’s a per-benefit period deductible.
So, if James becomes inpatient in a few months for a broken hip, he’s going to pay the Part A deductible AGAIN.
However, if James has a Medicare Supplement Plan G, he won’t worry about the Part A deductible.
Best Medicare Supplement Plans in Alabama
The top 5 chronic diseases leading to disability are heart disease, cancer, stroke, diabetes, and arthritis. Considering these can be costly health issues, it makes sense to buy quality health coverage.
Let’s say James has heart disease; if he has Medigap Plan F, he pays nothing other than his premium for services Medicare approves. However, with Plan G, he’s responsible for the premium and the Part B deductible.
The third most common policy is Plan N; if James has this plan, he pays a $20 copayment for his doctors and $50 for the ER when he’s doesn’t become an inpatient.
All of these plans are beneficial; it just depends on how much you want to pay in premiums and out of pocket costs. An agent can better help you weigh the pros and cons for your specific situation.
Alabama Medigap Plan G
Many beneficiaries find that Plan G makes the most sense financially. See, Plan F in Birmingham costs over $155 a month for a 65 year-old-man whereas Plan G is less than $120.
$35 a month x 12 months = $420
Well, the Part B deductible is MUCH less than $420 a year. So, it makes more sense financially to purchase the Plan G and pay the deductible yourself.
Now, some agents believe Plan N makes more sense because the premium is even lower than Plan G. For James, Plan N is less than $100 a month; however, he knows his heart condition could become a financial burden if his coverage isn’t adequate.
Choosing Plan G means he saves money and protects his savings. While this works for him, it might not be the most suitable plan for you and your service area.
Contact one of our agents to find your perfect policy match.
Medicare for the Disabled Beneficiaries Under 65 in Alabama
Insurance companies DON’T have to offer Medigap to those under 65 in Alabama; so, what coverage is available? Well, Medicare Advantage plans are an option.
About 33% of people in Alabama are on Medicare due to disability. Unfortunately, many people don’t know or understand all their options.
The best part? Medicaid pays most of the costs relating to the plan, such as the deductible, premium, and applicable copayments.
Although, depending on your area, this coverage might not be available. The best way to know is by calling an agent to discuss your options.
There are multiple levels of eligibility for Medicaid, including Qualified Medicare Beneficiary and Specified Low-Income Medicare Beneficiary. Income and assets determine eligibility.
What about those that don’t qualify for a supplement? No worries, plenty of Medicare Advantage plans in Alabama have a $0 premium.
Be sure to enroll in a plan as soon as possible to prevent any lapse in coverage.
Then, upon turning 65, you can enroll in a Medigap plan with Guarantee Issue rights. Meaning, you get a policy even if you have a plethora of health issues.
Alabama Medicare Advantage Plans
In 2019, 39% of enrollees chose a Medicare Advantage plan. With a $0 premium on most Medicare Advantage policies, there is no reason to ask why someone would choose this coverage.
If you’re looking for an “All-in-One” plan, Medicare Advantage is likely what comes to mind. It’s one enrollment, and it checks a lot of services off the list, such as dental, vision, hearing, gym memberships, and telehealth.
Although, checking the box doesn’t mean the coverage is what you need. Let’s take a more in-depth look into Medicare Advantage.
A Medicare Advantage plan provides you with a maximum out of pocket; this is the most a beneficiary can pay in healthcare expenses during the calendar year.
So, let’s say James has a maximum of $7,000, and he gets cancer; the most he’ll pay for treatment is $7,000. Then, the insurance company covers 100% of costs.
Considering his expenses would’ve been astronomical with ONLY Medicare, this coverage was beneficial.
Now, let’s say James chooses Medigap Plan G; even at $120 a month or $1,440 for the year, that coverage ends up being much cheaper than the Medicare Advantage plan with a $0 premium.
The Medicare Advantage plan with the highest star rating is an Aetna PPO with 4.5 stars; while not available in every county, it’s an option that could benefit you!
Medicare Part D Plans in Alabama
Just like your healthcare, a cheap Part D plan might not be the most suitable option. Now, if you don’t take any medications, go ahead and choose a policy solely because of premiums.
Although, if you don’t have any medications and think no coverage is saving you money, you’re dangerously wrong. When you delay Part D, you run the risk of racking up late enrollment penalties; nobody wants to deal with those!
Now, if it’s too late and you have a concern about your late enrollment penalty, and our agents can discuss your potential fees as well as coverage options.
In this day and age, few people have no prescriptions. If you’re a beneficiary with a laundry list of medications, you need an agent in your corner.
Our agents will collect your drug information and analyze potential coverage options to determine the best choice for you.
See, choosing the wrong drug plan could be the difference between paying 100% of costs or a small copayment.
Most Part D plans in Alabama have a deductible, although, if all your drugs are generic, the deductible might not even apply to you.
To learn more about Part D in Alabama, give us a call!
Alabama Medicare Resources
The Alabama state Medicare resource assistance group is AlabamaAgeline; this group can help you apply for assistance and provide insurance counseling.
Those with low-income should apply for extra help and the Medicare Saving Program. When eligible, you could have help paying premiums, deductible, and copayments.
Common Questions About Medicare in Alabama
How to Apply for Medicare in Alabama?
Applying for Medicare is easy; you can apply for coverage over the phone, online, or in-person at your local social security office.
Although, if you already obtain Social Security benefits, you may receive automatic enrollment into Medicare.
Contact Social Security to determine your eligibility.
How long is the “Free-Look” period for my Medicare supplement policy?
Every Medicare Supplement plan comes with a 30-day Free-Look period. The period begins the day of policy delivery, and if you request for cancelation in writing, the company fully refunds premiums.
While this period is available, most beneficiaries find Medigap is the best coverage they could ever buy.
Are there any discounts available for Medicare Supplement plans in Alabama?
Some companies offer a household or spousal discount. If your spouse needs Medigap coverage, you can both save on premiums by enrolling in the same company, although some companies offer discounts just for living with someone over the age of 60.
Also, some companies offer discounts for selecting automatic premium drafts. Call an agent today to find out about your eligible discounts!
My agent wants to sell me a nursing home policy. Doesn’t my Medicare supplement policy cover the nursing home?
Medicare coverage for nursing home care isn’t comprehensive and comes with strict stipulations. Most nursing home patients are receiving custodial care, which Medicare won’t cover.
If Medicare denies a claim, the Medicare Supplement policy will likely deny as well.
Purchasing long-term care insurance can be life-changing coverage when you need it.
Do smokers pay higher premiums for Medigap coverage in Alabama?
That’s a great question! Most companies do charge more for smokers; however, not all carriers charge more.
Consulting one of our agents is the easiest way to find affordable coverage, whether you’re a smoker or not.
Also, Medicare covers smoking cessation therapy if quitting is your goal!
Get Help Finding Medicare Supplement Plans in Alabama
Are you tired of trying to compare all the companies and plans in your area? Do you feel overwhelmed by all your options? Give an agent a call at the number above!
Our agents can help you personalize coverage based on your budget and medical needs. Then, your agent will answer any questions about the policy while providing an overview of benefits and costs.
If calling us right now isn’t possible, fill out an online rate form and start the process for better coverage today!