Handpicked Medicare Supplement Plans in Delaware
Each plan varies in coverage. The more benefits a policy covers, the higher the premium. But, high monthly costs don’t mean the best value.
Below we’ll explain your options so you can make the most informed decision.
Deleware Medicare Supplement Plans in 2020
The best way to learn is through example, let’s take a look at Don’s situation.
Don is working with one of our agents and thinks he wants Plan F since that plan covers the most. Well, the agent pulls up quotes and reveals to Don that Plan G will make more financial sense.
See, Plan F costs Don $160 a month, and Plan G costs $130 a month. If we look at the yearly price, Plan F costs $360 more than Plan G.
The only difference between the two plans is the Part B deductible.
Our agent showed Don the value of Plan G. Plan F is too much insurance.
Now, Don gets to save money by paying the deductible himself. When you work with our team, we help you find the policy with the most value.
Medicare can be confusing. But, you don’t have to go through this alone. We’re here to explain everything about Delaware Medicare.
Don’s Other Medigap Options in Deleware
The best policy for you depends on the things you value in coverage. For example, if Don is healthy and values a lower premium with copayments, Plan N could be ideal for him.
Plan N has copayments at the doctors and the ER when there’s no admission to the hospital. Further, Plan N covers the Part A deductible as well as the Part A and Part B coinsurance.
Also, Don could consider the High Deductible Plan G option. Depending on how much Don is willing to pay out of pocket, the High Deductible Plan G could be his best plan.
Many people avoid high deductible plans. But, if you’re comfortable with the costs, these plans can be beneficial.
Don without a Medigap Plan
Let’s say Don has Medicare and no supplement. Don goes to the emergency room in an ambulance because of a heart attack.
Don is an inpatient in the hospital for six days, where he receives coronary artery bypass surgery.
With standard Medicare, Don must pay $198 for the Part B deductible. Also, Don must cover 20% of the remaining ambulance bill.
Then, since he was in inpatient status at the hospital, he’ll pay the Part A deductible of $1,408 per benefit period. Don must also cover 20% of his hospital bill after the deductible.
Now, Medicare doesn’t have a Maximum Out Of Pocket, and you can pay 20% of several hundred thousand if the bills get that high.
Medigap coverage protects beneficiaries from outrageous medical bills.
Tip: The best plan for you is the plan that provides you with the most value. What do you value in your policy?
Delaware Medigap Plan Changes in 2020
Medicare guidelines change regularly. In 2020, all first-dollar plan options went away for beneficiaries new to Medicare.
So, what could this mean for you? Well, if you become Medicare eligible in 2020, you can’t enroll in Plan F, Plan C, or High Deductible F.
You can enroll in the High Deductible Plan G, which is like the Hight Deductible Plan F. The plan made an appearance in January 2020.
Those eligible for Medicare before 2020 still have access to the Plan F, Plan C, and High Deductible F.
Tip: If Medicare is confusing, talk to an expert, our agents have experience in your state!
Medicare Supplement Plan Eligibility in Delaware
The best time to enroll in Medigap is when Part B is going into effect, and you’re turning 65, this is the Medigap Open Enrollment Period. During this time, you can enroll in a policy without worrying about policy denial or higher premiums due to health issues.
If you delay enrollment, you may face a higher premium. Those that are losing coverage may be eligible for Guaranteed Issue Rights.
While it’s not necessary to enroll during this time, waiting too long could mean you don’t qualify for Medigap at all.
Tip: Pre-enroll in Medigap before turning 65 and have your policy start the same day as your Part B.
Medicare Supplement Plans for the Disabled, Under 65 in Delaware
Medigap policies are available to those under 65 in Delaware, but premiums tend to be much higher. Those with End-Stage Renal Disease under age 65 will pay the most.
The legislation allows insurers to charge those under 65 a higher amount. But, those under 65 with End-Stage Renal Disease are in a different risk pool than those with a different disability.
Costs for a man without End-Stage Renal Disease are over $4,000 a year in premiums for Plan F. And, a man with End-Stage Renal Disease will pay over $18,000. Then, upon turning 65 premiums drop to less than $2,000 a year.
Medicare Advantage Special Needs Plans are a valuable option for beneficiaries under 65. The plan usually includes Part D too!
When you turn 65, use the Medicare Supplement Open Enrollment Period to get Medigap without underwriting. Meaning, pre-existing conditions won’t cause policy denial or a premium increase.
Medicare Advantage Plans in Delaware
Only 15% of beneficiaries in Delaware have Medicare Advantage.
You must have Part A and B. Many Advantage Plans have a $0 premium.
While a $0 premium can seem like huge savings, there are MANY other costs associated with these plans.
For example, the Aetna Medicare Value has a $0 premium, but you’ll pay in the form of copayments.
Then, the out of pocket maximum is $10,000 if you have any out of network visits.
But, those that stay in-network only have a $6,700 out of pocket maximum.
So, the most you can pay out of pocket is $10,000 for the year if you have the Aetna PPO.
Since Medicare doesn’t have a cap on your spending, Advantage is better than no coverage.
In 2020, the Aetna Medicare Value plan is available in Kent, Sussex, and New Castle Counties.
Tip: Not all plans are available in all counties. Talk with an agent about the options in your area.
Medicare Part D Delaware
Almost 65% of Medicare beneficiaries in Delaware have a stand-alone Part D plan.
Since you face penalties when you delay enrollment, it’s best to sign up for Part D as soon as you’re eligible for Medicare.
Those that don’t take medications, the Humana Walmart Value Plan has a premium under $15. Sometimes this Humana drug plan benefits those that have a few generics.
But, it’s unlikely someone with multiple brands or specialty drugs would find this policy to hold any value.
Instead, if you have a laundry list of medications, you need to consult an agent.
See, each formulary is a little different. Depending on the drugs you take, and the pharmacy you use, the overall cost of plans can vary.
Tip: Our agents work with top companies in the nation to find the best value policy for YOU.
Medicare Savings Programs in Delaware
Counseling for insurance is available through the Delaware Medicare Assistance Bureau. The organization can help with information about different kinds of coverage.
Then, the Extra Help program can help low-income beneficiaries with the cost of drugs. Some people qualify for Medicare and Medicaid. There are dual-eligible Special Needs Plans available in some areas.
Medicare Delaware FAQ’s
How to Find and Compare Delaware Medicare Supplements
If you want to save time with one phone call, give a call at the number above. Our agents work with people like you all day. Whether you’re new to Medicare or you’ve been getting benefits for a long time, we understand.
When you call, the agent will ask you a few questions to better understand your needs. Then, when the agent has an understanding of what’s important to you, they can make a recommendation.
Once you choose the coverage you think holds the most value, your agent will walk you through enrollment. We’re here every step of the way. For as long as you have Medicare, we’re on your team! Give us a call at the number above and see why so many people are choosing to let an agent help them!
If calling now isn’t an option, fill out our online rate comparison form to discover the rates in your service area today!