Posts Tagged ‘medicare part d plans’

Why Buy Pennsylvania Medicare Supplement Insurance?

Saturday, July 30th, 2011

If you have Medicare as your primary health insurance and live in the state of Pennsylvania, have you thought about obtaining Pennsylvania Medicare supplement insurance?

Many times, individuals believe that Medicare will cover the full cost of their health care, and are surprised when they receive a bill for copayments or deductibles after a visit to the doctor.  Medicare coverage can be hard to understand, but when talking about coverage for things like physician visits and medical supplies, you should know that Medicare would only actually pay for 80% of allowed charges through their Part B benefit.  This means a physician’s visit costing $200 could cost you $40 out of pocket.

For those on a limited retirement income, $40 can be a lot of money.  Even individuals with larger incomes do not want to spend any more out of pocket than they have to, and that is where Pennsylvania Medicare supplemental insurance comes in.  For as low as a few dollars a week, these plans pick up any charges Medicare deems to be the responsibility of the patient.

Also known as Pennsylvania Medigap insurance coverage or Pennsylvania Medigap plans, a secondary policy of this type will always pay copay amounts after Medicare has processed a medical claim.  However, you should shop around for the best plan for the right price. 

Some Pennsylvania Medicare supplement insurance plans cover more than just the copay.  There are plans that will cover the $110 annual deductible and others that will pick up charges for items Medicare does not cover.  An example of this would be syringes used to administer insulin.  Medicare does not cover syringes, but a secondary insurance might pick up some or all of the cost.

Individuals worried about the cost of prescription medication may want to consider a Pennsylvania Medicare Part D coverage plan.  Unlike other plans, which offer medical benefits related to things like visits to a physician, medical supplies, and lab work, Part D coverage plans specifically address prescription medications. 

You should be very careful when looking into these plans, though.  Medicare Part D plans are some of the most complicated insurance plans available. Often there are large donut holes in the policies, which can cost you a great deal of money. 

A donut hole is a place in the annual medication expense where you pay 100% of the cost.  For example, a plan might pay 80% of drug costs up to $3,000.  Then, they might pick up 100% of the cost after $9,000.  Between those two amounts, you foot the bill. That means if you have over $9,000 of medication costs in a year, you will be paying for more than $6,000 of it!

When buying Pennsylvania Medicare supplement insurance of any type, always make sure you read the fine print in the policy.  Never buy insurance when you do not understand what you are paying for, what items will be covered, and understand how much the insurance will expect you to pay out of pocket. Supplement insurance can be a great friend to those with high medical costs, but the wrong insurance can cause unexpected expense.

Medicare Part D Plans

Saturday, June 5th, 2010

In order to be able to afford your prescription medication, you may want to enroll in Medicare part D. The Medicare part D plans are available for individuals who are already enrolled in either Medicare part A or part B. If you are taking part in the Medicare advantage program and would like to also receive additional drug coverage, you must be enrolled in both parts A and B. It is interesting to note that not all Medicare part D plans are going to be the same and it may be necessary for you to look at these various plans in order to see which one is going to work best for you.

The easiest way for you to find out what is available in the Medicare part D plans is to look at the Internet on the Medicare part D comparison website. You will need to fill out a form with certain information that will help you to find the plans that will work the best for you. Some of the information that they will need is the state in which you reside, whether or not you also have Medigap insurance, the maximum deductible and maximum premium. You can then sort the results from lowest to highest or according to a number of different credentials. At a glance, this will allow you to see the various Medicare part D plans that are available so that you can choose one easily.

Another tool that is available to help you compare between the Medicare part D plans gives you additional options that are not available in the standard search. These will also ask you basic questions, such as the state in which you live and the maximum deductible and premium. You will also be able to provide additional information, such as the type of drugs that are going to be taken on a regular basis, along with whether you are subsidized in any way for your Medicare payments.

Even though these two websites make it very easy for you to be able to compare Medicare part D plans, it may still be of benefit to you to speak to an insurance agent or perhaps to Medicare in order to sort things out. Remember, prescription drugs are very expensive and you need to make sure that you have the right type of insurance coverage in order to be able to afford them regularly.

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