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3 Tips To Finding Medicare Supplement Insurance In Birmingham, Alabama
Introduction
Are you at least sixty-five years old and looking for supplemental insurance in the state of Alabama? Finding
the right Medicare supplement plan could go a long way to providing you with the stability you need in your retirement.
Knowing this, let's go over the basics of Medicare supplement coverage as well as 3 important tips to acquiring a good Medicare supplement or Advantage plan in Birmingham, Alabama.
What does this mean for you? Basically, it means that Medigap coverage could help bear costs in the following areas: insurance deductibles, copayments, coinsurance, and more.
It's important to know that Medigap plans are offered through private companies. Keep in mind that Medicare Supplement plans are not the same as Medicare Advantage Plans. (For the pros and cons of Medicare Advantage plans, click here.)
Good to know: If your family is healthy and doesn't visit the doctor often, a high-deductible health plan could save you hundreds of dollars in lower monthly premiums. In addition, most high deductible health insurance plans are HSA eligible. An HSA eligible plan qualifies you to open a health savings account (HSA). A health savings account is designed to work in concert with a your high deductible health insurance plan. You can save money in your HSA account before taxes and use the funds to pay for eligible health care expenses. Additionally, unused HSA funds continue to grow tax-deferred, year after year.
Who is eligible.
To be eligible for a Medigap plan in Birmingham, you must meet certain requirements. For starters, you must be enrolled in Part A and Part B of Medicare. If you are not enrolled, you will not be able to buy a supplement or advantage plan.
UAB Hospital
1802 6th Avenue South
Birmingham, AL 35233
Phone: (205) 934-3411
Plus Code: G54W+JQ Birmingham, Alabama
When it comes to Medicare supplement, or Medicare Advantage coverage, (sometimes referred to as Medigap Plans), the sooner you can begin researching your options, the better. The first thing you will want to do is to make certain that you are eligible to purchase a Medicare Supplement, or Medicare Advantage Plan. To be eligible, you will need to be enrolled in both Part A, and Part B of Medicare. If you are eligible, there is an initial enrollment period of seven months. This enrollment period begins three months before your 65th birthday. This is the time to get your Medicare Supplement or Advantage plan policy in place.
Tip #2. Thoroughly research options.
In Birmingham, there are 10 general Medicare Supplement plan types to choose from. These plans are designated by letters of the alphabet (A-N). Each option provides coverage for a distinct level of medical fees that are not covered by Medicare.
Medicare Supplement Plan Comparison
| Benefits | Medicare Supplement Plans | |||||||||
| A | B | C* | D | F* | G | K | L | M | N | |
| Medicare Part A Deductible | No | 100% | 100% | 100% | 100% | 100% | 50% | 75% | 50% | 100% |
| Medicare Part B Deductible | No | No | 100% | No | 100% | No | No | No | No | No |
| Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Medicare Part B coinsurance or copayment | 100% | 100% | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100%** |
| First three pints of blood | 100% | 100% | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100% |
| Medicare Part A hospice coinsurance or copayment | 100% | 100% | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100% |
| Skilled Nursing Facility (SNF) coinsurance | No | No | 100% | 100% | 100% | 100% | 50% | 75% | 100% | 100% |
| Medicare Part B Excess Charges | No | No | No | No | 100% | 100% | No | No | No | No |
| Foreign Travel Emergency (Up to Plan Limits) | No | No | 80% | 80% | 80% | 80% | No | No | 80% | 80% |
| Out-of-Pocket Limit*** | None | None | None | None | None | None | $5,880 | $2,940 | None | None |
*Plan F is also has a high-deductible option. The F high deductible plan pays for all Medicare-covered expenses after you meet a $2340 annual deductible. Plan C and F are only available to those who are not new to Medicare.
**Office copay exceptions: Some office visits may require a copayment of up to $20. Emergency room visits may require a copayment of up to $50.
***Plan pays 100% of covered Medicare costs for the remainder of the calendar year once the out-of-Pocket limit is reached.
Good to know: Just because a hospital or office is "in-network" doesn't mean all its doctors are. Think you're covered because you took the time to make sure your hospital or doctor's office was approved as being in your network? Think again. It's just not that simple. Individual providers, labs, tests, specialists, and others that work within the facility may still be out of network. Yes, exasperating, but true. It's tedious but important to, when possible, ask everyone involved in your treatment if they are an "in network" provider.
Tip #3. Get in touch with a specialist.
Contacting a Medicare Supplement Plan specialist is usually the best way to find out about the plan options that are available to you. Newplanoptions.com a brokerage that has extensive experience concerning all things Medicare. We are licensed with all the major insurance carriers that offer Medigap plans. Insurance carriers we work with include: Blue Cross Blue Shield, Cigna, Humana, Mutual of Omaha, AARP, and more.
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