ORIGINAL MEDICAREWest Virginia Medicare Supplement Plans
The same policy doesn’t benefit everyone; beneficiaries that consult a broker will save time as well as money. Also, brokers have the skills to identify the most competitive policy in a service area in minutes.
Medicare Supplement Plans in West Virginia
Beneficiaries that don’t have Medigap coverage are at risk financially. Let’s say Marshall doesn’t have Medigap coverage; he only has Medicare and Part D.
If Marshall goes to the hospital he could lose a good amount of his savings. The Part A deductible costs $1,364 per benefit period; he could pay this multiple times during the year and it’s just a deductible.
After this deductible, Marshall must pay 20% of the hospital balance. Also, the Part B deductible is $185 annually. Marshall must pay 20% of Part B services after the deductible is met.
Additionally, most people don’t realize how much 20% of responsibility can cost. Well, the average hospital stay is $10,000; first, you’ll pay $1,364 and then 20% of the balance.
The total would be around 3 thousand dollars for a hospital visit; that’s more than most will pay for a Medigap plan for the whole year. Plus, Medigap can cover these out of pocket expenses.
When Marshall enrolls in Medigap Plan F he pays nothing out of pocket at the hospital or doctor’s office.
West Virginia Medicare Benefits Broken Down
Medicare Part A is your hospital benefits and provides coverage for any expenses incurred during hospitalization.
The second part of Medicare is Part B. This includes your outpatient services associated with doctor’s visits, diagnostic imaging or testing and any outpatient medical procedures.
Medicare Part C or also called Medicare Advantage takes over the complete coverage of Medicare Parts A and B.
Due to the benefits offered you can oftentimes hear it referred to as a Medicare Replacement Plan. And finally, with Medicare Part D, or the Medicare Prescription Drug Plan (PDP), you get prescription medication coverage.
Insurance benefits on Medicare Part A and Medicare Part B both provide 80% coverage. Leaving 20% for seniors responsible to pay, this can easily add up each month.
You can obtain extra coverage for that pesky 20% by obtaining a Medicare Supplement Plan.
Medicare Advantage Plans in West Virginia
Oftentimes referred to as a Medicare Replacement Plan as it takes over the benefits offered by Traditional Medicare. Medicare Advantage is an alternative to Medicare Supplement coverage.
Medicare Advantage (MA) plans are Part C; these plans include Part A, Part B and sometimes Part D. However, these types of plans have limitations, restrictions and guidelines requirements.
If you consider this coverage, look through the plan thoroughly to ensure the coverage will be sufficient. Additionally, you must understand the policy will change annually.
The coverage, doctor network, drug formulary, and guidelines can change any time. Beneficiaries will have more consistency with a Medigap policy.
This type of coverage can benefit people that don’t qualify for Medigap or can’t afford Medigap.
West Virginia Prescription Drug Plans for Medicare
Part D covers some of the medications your doctor prescribes. When you don’t purchase this coverage promptly, you risk incurring a Part D penalty for late enrollment.
Beneficiaries must select Part D coverage during the Initial Enrollment Period (IEP). It’s after this enrollment phase that beneficiaries without Part D will receive a penalty when they do select a policy.
No Medigap policies on the market today include Part D, that coverage must be purchased separately. Medicare doesn’t cover Part D medications. However, Medicare will cover Part B medications.
The lowest premium Part D policy is only $15 a month; this is ideal for someone with certain generics or no medications. Someone with higher costing drugs could save more money by purchasing a policy with more coverage.
Resources for Medicare Help in West Virginia
Those with a lower income could benefit from the Medicare Savings Program (MSP). If you don’t qualify for MSP you could still apply for Extra Help paying for Part D.
The CMS Newsroom has Medicare information relating to topics beneficiaries could find helpful. Then the State Health Insurance Program (SHIP) provides a resource for beneficiaries that need help understanding benefits.
The Best Medicare Supplement Plans in West Virginia
Across the nation, the letter plan benefits will be the same regardless of which insurance carrier you decide to choose. Of all the Medicare Supplement Plans, the most popular of the ten-letter plans are Plans F, G, and Plan N.
A Plan G in Bridgeport will have the same coverage as Plan G in Charleston. The difference will be in price; in WV most policies increase because of age.
Premiums can be issue age rating or community rating; to select the best policy, consult an insurance broker about your Medigap needs.
West Virginia Medicare Supplement Plan Eligibility
Medicare beneficiaries are eligible for a Medicare Supplement Plan if they meet certain criteria. The individual has to be at least 65 years of age and also currently carrying Medicare Part B.
An Open Enrollment Period (OEP) starts the first day of the month of your 65th birthday and continues for 6-months. During OEP beneficiaries will have entitlement for Guarantee Issue (GI) rights.
GI rights prevent insurance companies from denying coverage or charging beneficiaries a higher premium because of health issues. Most agents recommend applying for Medigap during this time.
Although, Medicare beneficiaries can apply for Medigap anytime; underwriting could be a requirement once the OEP period is over.
If a beneficiary sees the benefits from an employer group policy are experiencing a reduction, they qualify for Medigap with GI rights.
West Virginia Medicare Benefits for the Disabled under 65
State laws don’t require insurance carriers to offer beneficiaries under 65 a Medigap policy. The premium for a Medigap policy on a beneficiary under 65 would be much higher than for someone turning 65.
Insurance companies know that beneficiaries under 65 have a disability and will likely have higher claims. Most beneficiaries under 65 will benefit more from advantage coverage.
Then, upon turning 65 you can enroll in Medigap with GI rights; giving you the best premium on a policy.
Medicare Supplement Plan Prices in West Virginia
Each state’s individual insurance companies will determine what they will decide to charge for insurance premium rates. Most policies in this state are attained age rated; so, policies increase because of age.
Many top Medigap insurance carriers offer a competitive rate for Medigap. Our agents are ready to help you discover your best policy, to learn about costs call us.
The only way to get an accurate quote is from a licensed professional. Also, never cancel active coverage for a quote. A quote is only a quote until a policy is active.
Compare West Virginia Medicare Supplement Plans Online
Applying for Medigap coverage is so simple, it can be done over the phone. Medicare can be difficult, our brokers are ready to walk you through every step of the way.
Give us a call at the number above for the quote tailored to meet your health and budget. You can fill out an online rate form for information on rates.
As always, our services are 100% free and there’s no obligation to purchase.
Beneficiaries that contact an agent save themselves hours of dead-end internet searches. Call us today for your free quote!
Then, when you have an active policy with our company, we dedicate an entire team to cater to your needs. If you have a question, concern, claim or appeal; our client care team is here for you.
We care about your coverage now and in the future; let us help make Medicare easy.
