Should I Let My Individual Health Plan Automatically Renew?
Automatic renewal is a common feature of most individual health insurance plans, because it’s convenient and you
Medicare Supplements are available to individuals who receive Medicare. This type of supplemental insurance is also known as Medigap. Medicare Supplement Insurance helps members of Original Medicare to ‘fill in the gaps’ of their coverage.
Many people have questions about whether Medicare has any dental, vision, and hearing plans. The unfortunate reality is that Medicare doesn’t cover basic examinations for any of them. What’s worse is that Medicare doesn’t cover copays that deal with the health of your ears, smile, and eyes. So, it is important to seek out coverage for these essential health costs.
And there are plenty of affordable policy options available.
Individual health insurance policies are those that you buy on your own. They are not part of employer health plans. These plans can cover a single person or an entire family.
The landscape of Individual health insurance policies changed in 2014 with the passing of the Affordable Health Care Act (ACA). The ACA standardized and increased the benefits provided by these policies and offered Americans more policy options. This law also guaranteed coverage for individuals and offered subsidies to help people afford the insurance coverage they deserve.
Cancer plans can literally be a lifesaver.
Being diagnosed with cancer is accompanied by many unexpected expenses, including examinations, medical care visits, and expensive treatments. So, while you and your family face severe emotional challenges, financial stress often adds to this trying situation.
Cancer is a growing problem around the world. And cancer treatment is extremely expensive.
Final expense insurance, also known as burial insurance, provides your loved ones with peace of mind after your death. Money is paid to your beneficiary that can be used to pay for funeral expenses or whatever needs arise.
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Automatic renewal is a common feature of most individual health insurance plans, because it’s convenient and you
Medicare Supplement Insurance: Plan M coverage
Medigap Plan M covers the following costs and benefits:
Medicare Supplement (Medigap) Plan M benefits are the same as those of Medigap Plan D, except that with Plan M, you pay half of the Medicare Part A deductible (while Medigap Plan D covers the entire Part A deductible).
Medigap Plan M does not cover the Medicare Part B deductible or excess charges. Part B “excess charges” are additional costs outside of the Medicare-approved charge.
Medigap Plan M has no out-of-pocket limit, meaning you must pay any out-of-pocket costs that aren’t covered by Original Medicare or Medigap Plan M. When a Medigap plan has an out-of-pocket spending limit, it means that once you’ve spent that amount on out-of-pocket costs and your yearly Part B deductible, your plan will pay 100% of covered services for the rest of the calendar year.
The best time for beneficiaries to enroll in Medicare Supplement Plan may be during their Medicare Supplement Open Enrollment Period, which is not the same for everyone.
This period begins on the first day of the first month that you are both age 65 or older and enrolled in Medicare Part B, and lasts for six months. During this time, private insurance carriers may not use medical underwriting to assess a beneficiary’s health condition.
This means that if you’re enrolled in Medicare Part A and Part B and live within a Medigap plan’s service area, you can enroll in that Medigap plan without fear of being denied coverage or charged higher premiums based on a pre-existing health condition (although waiting periods may apply).
*Medigap plans do not include prescription drug benefits; if you’re enrolled in Original Medicare and want coverage for your medications, you should enroll in a stand-alone Medicare Prescription Drug Plan.
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