Arguments against Medicare Supplemental Insurance

Arguments against Medicare Supplemental Insurance

Some people are of the opinion that Medigap / Medicare insurance could be a frivolous form of spending. That’s why some people think it’s true. Medicare is a health insurance program run by the government for people aged 65 and over and those who have been in disability retirement for at least 24 months.

It has been argued that Original Medicare is the best insurance policy in the United States and one of the best in the world. The Medicare Part A premium will probably be paid on your behalf (i.e. through the fees you pay), and the premium for Part B is only $ 110 each month for persons who received Medicare supplements in 2010. Apart from the low expenses, you have a great deal of liberty in having access to health care coverage. You can travel to any location in the country and see a doctor or hospital that accepts Medicare.

This raises the question: if Medicare is a big policy in itself, why can anyone in the world buy Medigap insurance? An additional Medicare policy is an insurance sold by a private insurance company. The purpose of these policies is to fill the gaps left by Medicare. For this reason, these policies are often called “Medigap policies”.

Here are 3 arguments against Medicare supplementary insurance

  1. Guaranteed insurance

When you are eligible for Medicare for the first time (for example, if you are 65 years old), you are entitled to a Medicare supplement. In most situations, and in most states, it is possible that you are in the advanced stages of a terrible illness and a Medicare supplement company can offer you insurance at a discounted rate. Once you are qualified for a Medicare supplement policy, you can never lose insurance while paying premiums.

  1. Protection against “big things”

If for an X-ray or a quote you have to pay a few dollars to your doctor, this is probably not a big deal. But if you have problems, that is, if you really get sick, Medicare’s initial protection may not be as strong as you thought. Expenses worth $ 1,100 for hospitalization can accumulate very quickly, as well as your share of costly diagnostic tests. The fact is that most of us do not buy insurance for small things, like a thing on the car. But we want the insurance to insure the unexpected, like a ghastly car accident etc.

  1. Affordability

For most people, Medicare supplement policies are very affordable. For example, an older person who turns 65 in Tarrant County, Texas, may obtain a state health care supplement policy for just above $ 100 a month. An old woman of 70 year can get the same F policy for around $ 130 a month.  It is not only very convenient, but also very predictable. For example, in Policy F, your only health care costs (apart from prescription drugs) are the cost of your monthly Part B premium and your Medigap premium. Considering all these factors, the Medicare supplementary insurance case is much more convincing than the one against it.

Why Some Seniors Happily Retire Than Others?

Retirement can come as a shock for many individuals. Without having a future plan, they do not understand what next steps they should take after retirement. Time passes by and they start feeling they’ve no purpose in their life.


The right planning when it comes to retirement is essential for the psychological, financial and mental well-being of a person. However often times, people tend to spend more time planning for a 2-week vacation as compared to they do for retirement.


Hence, it’s crucial to have friends with whom you can enjoy things like walking, golfing, etc.


Some folks prefer to delay their retirement plan since they don’t have sufficient funds after retirement, or they fear they won’t have sufficient cash to live with and spend it as per their liking.

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According to some couples staying together for an extended period can cause problems in their relationship. Both need to develop their personal interests. It’s also vital to stay involved with your friends and life. Those living a happy lifestyle post retirement have found doing meaningful things outside their house to be very effective. Also, maintaining an active lifestyle through physical activities can help too.


For seniors who are secure financially, a travel to your favorite location can be exciting. Travelling can also help you meet others with similar interests as you. There are a number of travel opportunities for seniors – sufficient to fulfill the needs of each individual.


Seniors or baby boomers who’ve planned the right way after retirement are likely to enjoy a lifestyle in which they’ve freedom & time to spend with their dear ones, as well as enjoy activities which they formerly had inadequate time for like learning a new language, an instrument or enhancing their physical health. Possibly, they’ve always wanted to participate in a marathon – perhaps now is the perfect time for doing it. The thing is, there’s no limit your the things you can do as long as you’ve got the necessary time and resources to do it.


A happy life post-retirement depends greatly on preparing yourself adequately. Also, it’s equally essential to decide what you wish to do during this stage of your life. However, prior to taking that step, be sure to have a powerful social network with you. In short, retirement can be & should be an exciting stage in your life.


Medicare Drug Plans

Everyone who signed up for Medicare has access to Medicare drug plans that are part D of Medicare and are also known as “PDPs”. However, you must first join one of the Medicare drug plans to receive coverage for prescription drugs. The available plans will vary by types and cost of drugs covered. A Medicare Advantage Plan also offers the benefit of comprehensive Medicare prescription drug coverage.

Medicare drug plans are insurance policies formulated to assist members take care of the cost of any required prescription drugs at any time. These plans can aid members to save reasonable amounts of money on the cost of prescription drugs. The insurance companies work hand in hand with Medicare to provide this service and the drug insurance plans are available to you no matter what your drug costs, illnesses, or income may be.

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Anyone who enrolled in Medicare Part A and/or Part B is qualified to join a Medicare Prescription Drug Plan; but if you have a Medicare Advantage Plan, you will need Part A and Part B. You can enroll for one of the Medicare drug plans by completing an application form, joining via the plan’s website, using a MPDPF LINK or calling a telephone helpline. There is also a 1-800-MEDICARE telephone number you can call. Families would also receive a handbook in a mail named “Medicare and You”. Companies who provide Medicare drug plans are not permitted to contact you directly, but you are allowed to contact them to get more information about enrolling for their plan. Local community groups are also available to offer advice that will help with choosing the right plan.

Between November 15 and December 31 each year, plans can be signed up for or changed over. Coverage will then commence from January 1 the following year. Because the plans are being set up by companies in the private sector, all Medicare drug plans will differ. This implies that some members may be restricted to being able to only use certain pharmacies. There are some plans that may also cover only certain drugs. All of these factors imply that it is imperative you pick the plan that will adequately suit your requirements. Just like any service, it is very imperative that you check the details before enrolling. With regards to difference in choice of drugs and costs, some plans report high levels of customer satisfaction, while others do not.

The costs of the Medicare drug plans will differ depending on the drugs which are used and whether you are entitled to help with the cost of your Medicare Part D. If you think that you may qualify for help with the costs, you need to contact the Social Security Administration to get further information about applying.

The Obama administration introduced a new law designed to benefit Medicare patients who belong to the coverage gap referred to as the “donut hole”. This refers to a period of time where the patient themselves must pay for all the prescription costs. The new law stated that patients who signed up for Medicare Part D will qualify for a rebate of $250 from Medicare when they enter the coverage gap.

Medigap Open Enrollment

Regarding Medicare supplement plans or Medigap plans, one of the most commonly asked questions has to do with the best time to purchase such a plan. The best time to sign up for Medigap plan is during the Medigap open enrollment period. The open enrollment period is a 6 month period that begins on the first day of the month that you enroll to Medicare Part B.

Once you choose to enroll in Medicare Part B, please note that this enrollment period begins with the condition that you are at least 65 years old. In addition, once you enroll in Part B, the enrollment period kicks off and this cannot be undone.

AARP  supplement Plans 2019

A few important points need to be noted about the Medigap open enrollment period. Insurance companies cannot use medical underwriting during this period. This means that insurance companies are not allowed to charge you more for Medigap policies than they should due to any past health conditions that you may have. Also, during the enrollment period, insurance companies cannot compel you to wait for your coverage to commence; they also cannot refuse to offer you any Medigap policies that they have for sale.

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People need to understand the usefulness of the Medigap open enrollment period and also the consequences of failing to take action before the period elapse.

As stated earlier, insurance companies are restricted from using medical underwriting during the enrollment period. If after the enrollment period has expired you choose to apply for a Medicare supplement plan, the insurance company in question may likely use medical underwriting to determine the price of the policy plan. The company may also use medical underwriting to approve coverage for many cases.

It is worthy of note that the choices provided will be very limited even if your coverage is approved. However, there are some situations where you may still be permitted to purchase a Medicare supplement plan after the open enrollment period has elapsed. For such situations, the policy has guaranteed issue rights also referred to as “Medigap protections”.

Guaranteed issue rights are enforced in circumstances where your health coverage plan is varying in some way. As an example, if you have union coverage that makes payment after Medicare has payed and this coverage is ending, you have guaranteed issue rights. A similar situation applies when an individual has signed up for a Medicare SELECT policy and they happen to be moving out of the service area of the plan. For these kinds of situations, insurance companies are under compulsion to sell to you a Medigap policy that will cover all your pre-existing conditions. Please note that the plans offered during such situations may be limited.

For you to enjoy continuous coverage, it is advisable that you apply for a Medigap policy early enough or at least during the time when the Medigap open enrolment is in force. It is not advisable that you wait until your health coverage expires to apply for the appropriate Medigap plan.

Costs of Medicare Part D

When you only have Original Medicare, the out-of-pocket costs can be really high depending on your situation. If you think that having drug coverage may reduce the amount of money you have to per year, getting Medicare Part D, which is Medicare’s drug coverage plan, may be a good idea. In this article we will explain everything related to the costs of Medicare Part D so you can decide if it fits what you need.

What do I have to pay if I join Medicare Part D?

     If you decide to get Medicare drug coverage, you will have to pay throughout the year a monthly premium, a yearly deductible, copayments or coinsurance and costs in the coverage gap. In addition you may have to pay costs if you get Extra Help and/or costs if you pay a late enrollment penalty.

How much is my monthly premium?

    The cost of your monthly premium will depend on the plan you choose. However, you may have to pay an extra amount, which will depend on your income and it is a standard amount.

Just like Medicare Part B, if your modified adjusted gross income is above a certain amount, you may pay a Part D income-related monthly adjustment amount (Part D-IRMAA). This is additional to your monthly plan premium and it is paid directly to Medicare. The Part D-IRMAA goes from $13.00 to $74.80. Contact Medicare if you want to know if you have to pay it and how much it is.

Medicare Supplement plan

Do you have other questions?  Visit  A Medicare Supplement plan may be for you.

How much is the yearly deductible?

The cost of your yearly deductible will depend on the plan you chose, but in 2018, no Medicare drug plan may have a deductible more than $405. The year deductible is something you have to pay before your Medicare drug plan pays its share.

Take into consideration that not all Medicare drug plans have a yearly deductible, so this could be helpful when comparing Costs of Medicare Part D plans.

How much are copayments or coinsurance?

     Medicare Prescription Drug Plans have different “tiers” of copayments or coinsurance, in which different types of drugs are classified depending if they are cheaper or more expensive. This means that, for example, if you get generic drugs, your copayment will be lower than if you get brand-name drugs.

Remember that with copayments you are only paying a small percentage of drug costs and your plan pays the rest.

     What is the coverage gap and catastrophic coverage? How much are they?

     The Coverage Gap starts after you and your drug plan spent a certain amount ($3,750 in 2018) for covered drugs. Once you reach the Coverage Gap, you will pay no more than 35% of the plan’s cost for covered brand-name prescription drugs and 44% for covered generic drugs. These discounts may be higher depending on your plan and certain conditions may apply, so contact your insurance to know more about the specific plan you have.

In case you spend $5000 (2018 amount) out-of-pocket, you are out of the coverage gap and you automatically get “Catastrophic Coverage”, which means you will pay a small coinsurance for covered drugs the rest of the year.

How do I know if I have to pay a Part D late enrollment penalty and how much is it?

If you go without a Medicare Prescription Drug Plan for any continuous period of 63 days or more after your Initial Enrollment Period is over, you will have to pay a Part D late enrollment penalty that will be permanently part of your Costs of Medicare Part D.

The penalty is calculated by multiplying 1% of the “national base beneficiary premium” ($35.02 in 2018) times the number of full, uncovered months you didn’t have Medicare Part D. You have to pay your penalty monthly and every year it will be adjusted depending on the national base beneficiary premium.


It’s Risky to Go Without Medical Coverage!

You have worked so difficult to end up fiscally secured. You are upbeat about your accounts, yet have you set aside opportunity to make arrangements for your health? Your health ought to dependably be a best need regardless of how bustling you are. Fiscally, it is extremely dangerous to abandon any medical or health insurance. On the off chance that you have no other coverage accessible to you, in any event you ought to consider getting one that would take care of the expense of a disastrous medical crisis, regardless of whether it doesn’t cover you for routine medical costs.


Humana Medicare plans 2019


Medical or Health insurance is very not entirely obvious, until the point when you truly require it. When you require it, it might be past the point of no return. There are a couple of things you should remember as you explore the choices accessible to you.


What is medical or health insurance?


It is an agreement amongst you and an insurance organization under which, in return for your top notch installments, the insurance organization consents to pay for medical costs which you cause under the terms of the agreement.


There are distinctive kinds of coverage


Manager gave health insurance – The best hotspot for this today is your boss gave plan since its cost is financed by your boss.


These health insurance plans are for the most part one of four sorts: service supplier plans, repayment plans, favored supplier plans or health support associations.


Singular health insurance – Health insurance policies are accessible straightforwardly from insurance organizations for people. The upside of this sort of policy is that you may look for the kind of advantages you need. The drawback is you need to pay the entire cost.


Medicare Insurance – Medicare insurance coverage gives obligatory fundamental hospitalization advantages to all U.S. subjects beyond 65 a years old Part A coverage. For a quote on Humana Medicare plans for 2019 visit


Part B coverage is a deliberate program that gives coverage to doctor bills at a month to month cost to you. Medicare insurance regularly covers just 50% of the normal senior subject health care bills. It can be supplement with Medigap insurance.