Anyone with both Medicare Parts A and B is eligible to apply for Medigap plans in Missouri. Most people do not pay a premium for Part A since they or their spouse are likely to have paid Medicare taxes while employed. However, Part B does require premiums. The cost of Medigap plans ranges depending on which insurance carrier provides the coverage and potentially the person’s age. To view Medigap plans and compare rates, fill out the zip code form.
All 10 Medigap plans available to Missouri residents include “basic benefits.” The amount of coverage and additional benefits vary depending on the selected plan. Basic benefits include an additional 365 days of hospital stay (in a person’s lifetime) beyond what Medicare Part A covers, a percentage of co-pays for medical services, and the first three pints of blood that are not covered under Medicare. A new basic benefit in Missouri now also covers Hospice Part A co-insurance.
Medigap Plans M and N have lower premiums than the other eight available plans. Plan M pays 50% of the Part A deductible and none of the Part B deductible. A new co-pay structure is in place which requires a $20 fee for office visits and $50 fee for ER visits. Plan N pays 100% of the Part A deductible and none of the Part B deductible.
Some benefits are no longer available to Missouri residents who purchase Plans D or G after June 1, 2010. At-home recovery has been eliminated from both plans and the coverage of Part B excess charge in Plan G has increased from 80% to 100%. However, Missouri residents who purchased Plans D or G before June 2010 can opt to keep their original plans.
Every Missouri resident has a six-month open enrollment window beginning on your 65th birthday once you are enrolled in Part B of Medicare. It’s best to enroll in Medigap during this time since no one can be denied. However, the insurer has the right to impose a six-month waiting period before paying for any pre-existing conditions.
If a Missouri resident has Medigap coverage, renewal is guaranteed every year. Keep in mind that during the renewal period, premiums can increase. Every insurance carrier offers different premiums for Medigap plans even though the plans are identical. It’s important to shop around for the best price. To compare rates and plans instantly, fill out the zip code form.
Medigap plans are renewed annually on the anniversary of the date a person enrolled. Medigap beneficiaries are eligible to switch companies during a sixty-day window that includes 30 days before and 30 days after the anniversary of enrollment. This is the time to shop around for potentially lower premiums with different insurance carriers.
Most Missouri residents pay monthly premiums. However, paying annual premiums is also an option. A new law passed by the Governor requires insurance carriers to refund any remaining balance if a Medigap beneficiary cancels coverage before the end of the year. This law protects Missouri residents from paying for coverage that isn’t used. To compare rates and plans, fill out the zip code form.
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