Medicare Supplement Plans in Minnesota

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Medicare Supplement Plans in Minnesota are a little bit different than everywhere else in the nation. Instead of having letter plans A-N, beneficiaries can select between two different policies.

The options available in this state are Medigap Basic Benefits and Medigap Extended Benefits plans. One policy offers more coverage than the other policy.

For now, let’s discover how Medigap can protect you from the burden of Medicare’s medical bills. Let’s learn about what kind of costs a beneficiary can accumulate with just Medicare coverage.

Minnesota Medicare Supplement Plans

Let’s say Nora has standard Medicare and no additional coverage. Well, Nora could be responsible for quite a bit of out of pocket costs if she’s hospitalized.

Nora has septicemia, also known as blood poisoning which is landing her as an inpatient for 6 days. Then, she begins to realize the real cost of Medicare.

There are state laws forbidding doctors from charging excess amounts; this saves beneficiaries up to 15% of the potential expense.

Part A & B

Part B covers ambulance services. So, if Nora took an ambulance to the ER, then she needs to pay the $185 deductible.

An ambulance ride will cost way more than $185 though; so, Nora will also pay 20% of the remaining bill.

Part A covers inpatient care. Well, the Part A deductible is $1,364 and that’s certainly not going to cover 5 days in the hospital. So, Nora will pay 20% of the hospital bill on top of the other expenses.

The average cost of septicemia is over $18,000 and 20% of that is still really expensive. Having Medigap coverage will protect you against enormous bills.

Minnesota Medicare Supplement Plan Eligibility for Disabled Under 65

Medicare plans are available to beneficiaries under 65; in MN, Medicare Supplement insurance companies must offer at least one policy to anyone under 65.

Insurance companies are charging those under 65 the same as everyone else in the community.

State laws grant under 65 beneficiaries a 6-month Medigap OEP for anyone enrolling in Part B. Medigap plans will benefit anyone in MN; however, if Medigap is out of the budget at least consider a Part C policy.

Minnesota Medicare Advantage Plans

Let’s say Nora enrolls in MA coverage instead of Medigap. The premium is $0 and that’s appealing to most people that don’t understand insurance. If you understand insurance, you know a low premium means higher out of pocket costs.

Now, let’s say Nora has MA coverage when the septicemia incident occurs. The ambulance will cost $265 and the inpatient visit is $400 EVERY DAY for days 1-4.

This MA plan is a PPO policy; so, if Nora goes to a hospital out of network, her responsibilities for cost sharing will be higher.

MA plans do offer Maximum Out Of Pocket (MOOP) benefits to protect beneficiaries from spending too much each year. For Nora’s policy that amount is $10,000 each year. So, if she spends ten thousand dollars, the plan will cover the rest of her covered services.

Medicare Advantage plans offer more benefits than standard Medicare; however, Medigap plans are more suitable coverage.

Minnesota Prescription Drug Plans for Medicare

Purchasing a Part D plan is essential, without this coverage a penalty could find you in the future. Just like supplements, the best Part D plan for Nora might not be the best plan for you.

If Nora enrolls in the $20 Part D policy only to pay $100 on her prescription, she isn’t saving money. Nora talks to an insurance agent; her prescription will only cost $30 on the $40-month premium plan.

So, by talking to an agent Nora saved $50 each month. The lowest premium policy isn’t always the most cost-effective. Checking the formulary and comparing all the costs is necessary.

Part D changes every year, prepare to review your policy annually.

Minnesota Medicare Resources

All beneficiaries should check out the CMS Newsroom for frequent updates on Medicare topics.

For information on Medicare in Minnesota, beneficiaries can contact the State Health Insurance Program (SHIP). The SHIP program helps to provide benefits counseling for Medicare recipients and their families.

The state commerce site has information on Medicare and health insurance in your state. Also, beneficiaries can see the state-specific Medicare plans on Medicare.gov.

Beneficiaries with low-income should apply for the Medicare Savings Program (MSP). If your income is low, but you don’t qualify for MSP, apply for Extra Help.

Extra Help can assist with Part D expenses.

Qualifying for Medigap Plans in Minnesota

Medicare Supplement Plans have requirements for eligibility. First, you must be of age 65 and second, currently enrolled in Medicare Part B.

The Open Enrollment Period starts when Part B starts and gives you 7 months to obtain coverage. You have Guarantee Issue rights, using them means no medical underwriting.

The two main Supplement Plans are the Medicare Basic Benefit Plan and the Medicare Extended Benefit Plan.

Minnesota Medicare Basic Benefit Plan

Minnesota Basic and Extended Medicare Supplement Plans

Minnesota Basic and Extended Medicare Supplement Plans are the two policies insurance companies are offering

The basic benefit plan covers the coinsurances for Part A as well as Part B coinsurance. Part B coinsurance is becoming a copayment.

Also, this plan is including an annual 3 pints of blood as well as some hospice and home health services.

Basic benefits include Skilled Nursing Facility care, foreign travel emergency, and outpatient mental healthcare. Also, this Basic Plan is covering 100 days of SNF, Foreign ER at 80%, and Mental health at 50%.

Some benefits the state is requiring, such as immunizations and flu shots. Also, this policy is offering diabetes equipment and cancer screenings.

Some beneficiaries are purchasing additional riders to add benefits to the Minnesota Basic Benefit Policy. Beneficiaries wanting coverage on the Part A deductible without purchasing extended coverage have that option; however, adding benefits will increase the premium.

No matter which company you choose, they all have these basic coverage benefits.

Medicare Extended Benefit Plan

The Extended Plan will include everything the basic plan covers with additional coverage.

Wanting to have coverage on Part A and B deductibles? Then, selecting the Extended Plan could be in your best interest.

Talking with a licensed insurance agent will make plan selection easier. Does the Basic Plan with riders make more sense than enrolling in the Extended Plan? Call us at the number above to discover the most suitable plan.

Medicare Supplement (Medigap) Benefits Medicare Supplement (Medigap) Plans
Basic Plan Extended Basic Plan
Basic benefits Yes Yes
Part A: inpatient hospital deductible No Yes
Part A: skilled nursing facility coinsurance Yes (Provides 100 days of SNF care) Yes (Provides 120 days of SNF care)
Part B: deductible No Yes
Foreign travel emergency 80% 80%
Outpatient mental health 50% 50%
Usual and customary fees No 80%
Medicare-cover preventative care Yes Yes
Physical therapy 20% 20%
Coverage while in a foreign country No 80%*
State-mandated benefits (diabetic equipment and supplies, routine cancer screening, reconstructive surgery, and immunizations) Yes Yes

Changes in Wisconsin First Dollar Medicare Supplement Plans for 2020

First dollar plans retire in 2020. Insurance companies will be forbidden from covering the Part B deductible. Minnesota, Massachusetts, and Wisconsin offer policies different from the rest of the country.

The states above haven’t given us any information about which policies will be available in 2020. However, each state must make changes to abide by federal laws.

Medigap Premiums in Minnesota

Community Rating is the pricing method used for Medigap in this state. This means companies are likely charging you the same as your neighbor for the same coverage.

However, smokers will pay more than non-smokers for the same coverage.

The best time to enroll is during the OEP, all beneficiaries starting Part B are eligible. Enroll early and have the same effective date for Part A, B, D, and Medigap plans.

Minnesota Medicare Supplement Plan Enrollment

Medicare Supplement Plans provide beneficiaries with peace of mind knowing a hospital stay isn’t going to clear out the bank. Enrollment is as easy as dialing a phone.

Our services are always 100% free and our licensed agents are ready to answer any of your questions. Discover which policy is right for you by calling the number above.

Our agents can walk you through the application process over the phone; so, no need to leave the comfort of your home or search endlessly on the web for rates yourself.

Let us help you; we can save you time, effort and money. Can’t call us today? Just fill out an online rate form to get rates in your area!