There are ten different plans the Federal government has created. Each of these plans have a minimum standard that must be met.
Original, or Traditional Medicare, only covers a certain percentage of the cost of medical services, medical equipment and supplies. The remainder of the costs is the obligation and the responsibility of the Medicare beneficiary, so this insurance is also known as a Medicare gap insurance. This can lead to significant out of pocket costs.
Alabama Medigap Plans
Alabama Medicare Supplement plans coverage assists with the remaining expenses left after traditional Medicare pays its portion. A plan generally will help pay deductibles, coinsurance, and co-payments for the covered person. It won’t cover the premium associated with Part B of traditional Medicare.
The Part B premium is still the responsibility of the Medicare recipient. Most beneficiaries of Medicare have the Part B premium deducted directly from their Social Security benefits monthly. Alabama Medigap policies can be used in any U.S. state or territory.
In order to qualify:
- A person must already be enrolled in Medicare Part A and Medicare Part B of Original Medicare.
- A private medical insurance company must be licensed in the state to sell you Medigap plans in Alabama.
- While most private medical insurance plans will cover a family, supplement plans only covers one person.
- The state does not require carriers to offer Alabama Medigap plans to those under 65. However, some carriers do. Contact one of our licensed Alabama Medigap agents at the number above to find out more.
Blue Cross Blue Shield of Alabama Medigap Plans
Blue Cross Blue Shield of Alabama Medigap plans provide diverse healthcare policies. According to Mark Sexauer, a licensed insurance agent, a well-known fact is that 1 in 3 beneficiaries of Medicare are covered by this carrier.
Interesting Medicare State Facts
In 2014, each enrollee residing in the state of Alabama spent an average amount of $10,000 on Medicare. During that same year, the state itself paid out almost 10 million dollars on Medicare spending. That makes the average growth percentage between the years of 1991 and 2014 to increase almost 5% per enrollee. A 7% increase was found in Medicare spending by the state between those same years.
Other Important Information About Medigap Plans for Alabama
Each month the private insurance company will bill the Medicare beneficiary a premium. This monthly premium is needed to keep the policy in force regarding all Medigap plans for Alabama.
The cost of your premium will depend upon the private medical insurance company chosen and the plan type.
It’s imperative that you compare policies; it can be quite confusing to sort through all the different plans. However, the plan you select will dictate the coverage you receive, and you want to get the most bang for your dollar. Paying an affordable Medigap insurance premium and getting the specific coverage you need is the end goal.