Did you know…
This information was provided by the Center for Medicare Advocacy.
The brand new Medicare Supplement Plan N is proving to be very popular with seniors who want lower premiums but comprehensive coverage to fill the gaps in Medicare. I was just talking with a representative of a well-known Medicare Supplement company that has been overwhelmed with 30,000 applications for Plan N coverage. I can’t provide the name of this company because they think my writing about them constitutes advertising and they track what is written about them on-line and in the press.
The reason this company is overwhelmed with applications is because they are allowing seniors to apply for their new Plan N Medicare Supplement without having to answer any medical questions – no matter how old the person is. While other Medicare Supplement companies are asking more medical questions of their applicants, this company has decided to make an exception for everyone applying for Plan N.
Plan N is a new Medicare Supplement that went into effect on June 1st. This plan costs about 25% less than Plan F, which is a Medicare Supplement that fills all the gaps in Medicare. Plan N costs less because it will require seniors to pay $20 co-pays when they see a doctor in the doctor’s office. Seniors will also pay $50 if they go to the emergency room. Additionally, the Part B deductible ($155) is not covered by Plan N, and the plan does not cover excess charges (which very few doctors charge anyway). Every other service (hospital stays, labs, physical therapy, chemotherapy, radiation treatment) is covered completely beyond the co-pays mentioned here. Medicare pays its part of the bill and Plan N will pay the balance.
I asked this company representative how long they will continue their open application policy for Plan N. I was told they have no plans to change it in the next few months. Hopefully the policy will continue through the end of the year when Medicare Advantage enrollees will be able to get out of their plans, go back to Medicare, and get a Medicare Supplement. Plan N might be the only option for people who might not pass the health questions required by most Medicare Supplement companies. Hopefully they will still have a chance to get Plan N with no questions asked by this company.
NOTE: When you turn 65, or when you first get Part B, you have a six month “guaranteed issue period” during which you can sign up for a Medicare Supplement without answering medical questions. This is very important for people with pre-existing conditions because they cannot be refused a Medicare Supplement during their guaranteed issue period.
CLICK HERE FOR MORE INFORMATION ON YOUR MEDICARE CHOICES.
Some people think they are locked into their Medicare Advantage plan for the rest of the year. This is not the case because they can make one change to another plan up until March 31st. Here are changes that can be made between January and March 31.
If a person is in an MAPD (Medicare Advantage plan with a drug plan) they can:
1) change to another MAPD plan
2) change to Original Medicare and get a stand-alone Part D plan
If a person is enrolled in an MA-only (a Medicare Advantage plan without a drug plan) they can:
1) change to another MA-only plan, or
2) go back to Original Medicare (but they can’t get a Part D plan at this time of year).
If a person has Original Medicare and a stand-alone Part D plan they can: enroll in an MAPD plan (HMO, PPO por PFFS)
If a person has only Medicare (and no Part D plan) they can: enroll in an MA-only plan (with no drug plan)
The key constraint during this period relates to the Part D plan. If a person is enrolled in a stand-alone Part D plan they can’t change to a new stand-alone part D plan. BUT, if they are enrolled in a stand-alone Part D plan, they can enroll in a Medicare Advantage plan that includes a Part D plan (thus changing their Part D plan). Confused? Don’t worry, you’re not alone.
After April 1st no changes can be made to your Medicare coverage, whatever it is – unless you move out of the coverage area for your plan (Part D or Medicare Advantage). And if you move, you have only 63 days to sign up for a new plan or find yourself in limbo – where you are disenrolled from your old plan and you can’t enroll in a new one (until the end of the year).
Note: Medicare Supplements can be changed at any time. And people covered by AHCCCS and Medicare, or the people receiving a Low Income Subsidy for their drug plan can change their Medicare Advantage plan throughout the year.
For more information check out: http://medicarechoicesofarizona.com
