One of the challenges of turning 65 years old can be deciding what to do with your Medicare options. For some it is a difficult choice, for others, it’s very simple. Many of the seniors that we meet with already have decided that they want to choose a Medicare Supplement (Medigap). Often, the decision has already been made because a friend or a family member has a Medicare Supplement. Because every individual’s situation is different, it is important to discuss all your options with a licensed local independent agent. We have agents in the San Antonio Area, Dallas/Fort Worth Metroplex, McAllen, Brownsville, Waco and many other cities throughout Texas. Feel free to contact us at 210-908-6565 to discuss.
Medicare Supplement Insurance Plan
With a Medicare Supplement insurance plan, you are not bound to a network, you have the freedom to go to the doctor of your choosing. The one requirement is that the doctor must accept Medicare.
If you know someone who turned 65 prior to 2020, it is possible that they are on plan F. If you become eligible for Medicare after January 1st 2020, you may not enroll in Plan F. Plan F covers all your Medicare cost sharing with zero out of pocket costs. The option most similar to Plan F is Plan G. Plan G covers your Medicare cost sharing at 100% for most items. The Part A deductible, Part B coinsurance (20%), Part B Excess Charges, Skilled Nursing coinsurance, Part A hospice care and Blood (first 3 pints) are all covered at 100% of the cost by Plan G. The only out of pocket costs that you’re responsible for would be the Part B Deductible ($203 in 2021) and 20% of foreign travel emergency (up to plan limits).
Choosing a Medigap Plan
Many seniors like to know exactly what they will be paying monthly. Choosing a Medigap Plan is the easiest way to plan out your monthly expenses for healthcare. Most Medicare Supplement plans in Texas are Attained-Age-Rated, which means that the premium is going to be based on your current age. As you get older, the premiums will increase. We recommend making your decision with that in mind. Could you continue to pay for your healthcare cost if it doubled in 10 or 15 years?
If you have questions about Medicare Supplements or any other of the plans we offer, feel free to call us at 210-908-6565. TMS Insurance Brokerage Inc. (dba Texas Medicare Solutions) is a licensed insurance agency that focuses on Medicare Advantage, Medicare Supplement and Medicare Prescription Drug Plans. We are currently licensed in Texas, Nebraska and Iowa.