Medicare Supplement Plans in Arizona
Medicare only covers 80% of healthcare expenses after the deductibles. That leaves deductibles and a 20% coinsurance for you to pay.
A Medicare Supplement Plan comes in handy; it covers those costs. Medigap plans can cover deductibles, copayments, and coinsurance when applicable.
Keep reading to find out how Arizona Medigap can potentially save you tens of thousands of dollars in 2020.
Guide to Arizona Medicare Supplement Plans in 2020
Many beneficiaries in Arizona benefit from Medigap coverage every day. These beneficiaries can see ANY doctor in the United States that accepts Medicare.
Further, those with a Medicare Supplement plan don’t need to worry about referrals or unexpected costs, making healthcare easy to manage.
Also, most Medigap coverage extends to emergencies that happen internationally. So, if you find yourself with a broken arm in Germany, it’s not going to be 100% out of YOUR pocket.
Instead, you pay a portion of foreign travel emergencies. Nationally, you can go to any doctor and use your plan just like you use it at home.
EVERY Medigap plan gives you an additional 365 days of hospital coverage that Medicare wouldn’t provide. It’s paramount that you consider the perks to comprehensive coverage.
Below we use George as an example of how Medicare Supplement could save you BIG BUCKS in 2020.
Understanding How Arizona Medicare Supplement Plans Work
Let’s say George has Medicare and no gap coverage. Well, one day, George experiences a heart attack and takes an ambulance to the hospital; he’s there for seven days.
George needs to see a cardiologist. Then after lab work, George learns he needs to have a stent placed inside his artery.
Well, he has already racked up healthcare costs. Let’s take a look at his expenses so far.
Part B covers ambulance services. So, he’ll need to pay the $198 deductible for the ambulance plus 20% of the remaining costs.
Hospital admission requires Part A deductible; also, this deductible is $1,408 for 2020. After this deductible, George is responsible for 20% of the remaining costs, including all Part A and B services.
The direct and indirect average cost of a severe heart attack is $1 Million; indirect expenses include work absences and lost productivity, direct prices include doctors and prescriptions.
Without Medigap coverage, George’s 20% could become unbearable. As you see, costs can add up quickly.
Imagine George has Plan G; then, he wouldn’t pay anything EXCEPT the Part B deductible for ALL those services. The only regular expense he would concern himself with is the premium.
Medigap Plan G just saved George A LOT of money on his heart attack. You could save a bunch of money with a Medigap plan too!
The Best Medicare Supplement Plans in Arizona
Medigap companies can provide up to 10 different policies; however, the most chosen plans are Plan N, F, and G. These three policies are the top plans across the nation.
Plan N requires beneficiaries to pay more out of pocket. When you choose this option, expect some costs, like a $20 co-payment for a doctor and $50 when visiting the ER without admission.
The Part B deductible and Part B excess charges are the other costs to anticipate with Plan N.
Plan F covers the most; there is no out of pocket expenses on services Medicare would cover. Meaning, the beneficiary only focuses on the monthly premium.
Then, Plan G; the only obligation beneficiaries have is the Part B deductible. Most beneficiaries save several hundred dollars a year by choosing Plan G instead of Plan F.
However, the best plan for your neighbor isn’t likely the best option for you..
Medicare Supplement Eligibility in Arizona
Eligibility for Medicare Supplement Plans in Arizona starts once enrollment in Part B at 65 begins. Medicare beneficiaries have six months of Medigap Open Enrollment Period (OEP) rights.
During the Medigap OEP, you have entitlement to Guaranteed Issue rights; meaning, the insurance company can’t deny you or increase the premium because of pre-existing conditions.
Outside of OEP, the insurance companies can charge a higher premium or deny coverage. Most people see policy approval; however, the cost is higher due to pre-existing conditions.
Although delaying Medigap enrollment could result in denial. So, we recommend anyone new to Medicare consider Medigap coverage while they’re GUARANTEED approval.
While MANY pre-existing conditions aren’t an issue, there are some conditions the carriers consider an automatic decline. One carrier could deny the policy, and another could approve the coverage.
Finding the right company that will approve your policy is challenging when you aren’t a licensed insurance agent.
Are you confused about your eligibility? Working with an agent saves you the headache of trying to figure out which company is going to approve which application.
Medicare Supplemental Insurance Cost in Arizona
Medigap costs vary depending on the beneficiaries’ location, age, and gender. A gentleman living in Pheonix, AZ, will pay a different premium than a lady residing in Scottsdale, AZ.
Also, each state and carrier has different pricing method provisions to follow. Issue-age is the most common type in this state.
Issue age means the premium goes off your age when you apply and only increases based on inflation. Some companies offer an attained age type of policy; this increases because of your birthday.
Let us help you compare them both and decide which is best.
Medicare Supplement Plans for the Disabled Under 65 in Arizona
Those with SSDI or Railroad Retirement Benefits after two years automatically have Medicare.
Federal law doesn’t require private insurance carriers to offer Medigap to disabled beneficiaries. However, some states will provide disabled beneficiaries with one Medigap plan.
Depending on what’s available in your area, one of these plans could be beneficial. Always remember, some coverage is better than no coverage.
If currently disabled in Arizona, consider Medicare Advantage coverage until you turn 65.
Then, once you turn 65, you’ll qualify for the Medigap Open Enrollment Period, and you can purchase a supplement without concern of underwriting.
Medicare Advantage Plans in Arizona
In 2019, 38% of enrollees chose a Medicare Advantage plan in Arizona. Medicare Advantage Plans have low premiums and high out of pocket expenses. Qualifying for this coverage only requires one health-related question.
“Do you have End-Stage Renal Disease?”
Answering “YES” an automatic disqualifier for Medicare Advantage unless an ESRD Special Needs Plan is available in your area.
Medicare won’t have a Maximum Out Of Pocket; however, advantage plans protect you from spending over a certain amount by offering an out of pocket maximum.
Let’s say George’s Medicare Advantage plan has a $10,000 out of pocket max, the most he can pay in the calendar year is $10,000. The limit only applies to services the plan covers.
Advantage plan restrictions are disadvantages to these plans. Medicare Advantage plans can include limitations, treatment with only in-network physicians, and cancellation restrictions.
After paying endless copayments and out of network fees, many discover Medigap saves money in the long run!
For example, if George has an advantage plan, the heart attack scenario could be pretty costly.
The ambulance would cost almost $300. Then the inpatient hospital stay will cost $185 PER DAY for days 1 through 7.
While this is MUCH less than having ONLY Medicare, George still saves thousands of dollars with a Medigap plan instead.
Medicare Advantage coverage is at least as good as Medicare; however, Medigap is complete coverage.
Do you want something at least as good as Medicare, or comprehensive coverage? If you’re looking for complete coverage, you want Medigap.
Top-Rated Arizona Medicare Advantage Plans
Both Aetna and Humana have a variety of 4.5-Star Medicare Advantage plans in the state of Arizona. Each option is a little different; the most significant thing to consider, “Is your doctor, in-network?”
If the Humana plan is cheaper and more appealing, but Aetna has your doctor in-network, which will you choose? Scenarios like this happen every day.
Unfortunately, these plans change each year, so there is no way to predict if a doctor will leave the network. Plus, each policy is different.
When the drug formulary changes each year, you’ll need to compare Medicare Advantage plans in Arizona to understand which ones cover your medications.
Then, check doctors, hospitals, urgent care, and specialists. This research needs to take place each year during the Annual Enrollment Period if you want to ensure you’re coverage is suitable.
Do you like changing plans annually? Would you rather have a 5-star Medicare Supplement plan or a 4.5-star advantage plan?
Medicare Part D in Arizona
Some Part D policies are less than $20 a month. However, the lowest premium isn’t always the best policy.
Let’s say George has the $20 a month policy and pays $80 for his medication; this policy might not be the best for him.
Now, if George has the $40 a month policy and Pays $20 for the prescription, then he’s saving money. The $40 plan is offering George more value than the $20 option.
To better discover the policy that works for you, give our agents a call. Our agents cross-check your medications with the available coverage options, giving you the best value.
Medicare Savings Program and Resources
There are state programs that provide free counseling and financial aid for those with a low-income.
State Health Insurance Assistance Program or SHIP can provide local help for people with Medicare, Medicare Advantage, Medicare Gap Plans, or PDP Plans.
Arizona is one of four states with a large number of Native American seniors; it’s possible to be eligible for Medicare, Medicaid, and Native American Health insurance.
Arizona Medicare FAQ
How to Compare Medicare Supplement Plans in Arizona
Our Medicare insurance agents can help beneficiaries in Pheonix, Arizona, and across the nation. We give you a one-stop-shop for Arizona Medicare Supplement insurance premium comparisons!
Instead of spending endless amounts of time searching for Medigap in Arizona, give us a call at the number above! Save yourself time, money, and your sanity by using an agent to find coverage.
Our agents will ask you a few questions about policy preferences, lifestyle, budget, and needs. Then, they find the best policy match for your situation.
Call today to get the best rates in your area! Cant’ call us right now? That’s ok our online rate comparison form makes it easy for you to compare local prices!