Top 10 Medicare Health Plans in the US
In addition to offering individual and family health insurance plans, Health Insurance carriers also sell private health insurance plans to seniors and those eligible for Medicare. These products are called Medicare Advantage, Medigap or Medicare Supplemental Insurance, and Medicare Part D prescription drug cards. If you are looking at a company that is offering one of these products, keep in mind they are contracted with Medicare to offer this kind of insurance policy to you. In the case of Medicare Advantage or Part C of Medicare and Part D drug plans, the insurance provider receives a subsidy for Medicare for these kinds of plans in exchange for providing services to their insured members. As a Medicare beneficiary if you would like to lower your out-of-pocket costs for medical and prescription drug related expenses, you should consider supplementing original Medicare with a supplement and a drug plan. Since these kinds of Medicare supplemental insurance plans are sold to private for-profit insurance carriers, you will want to compare Medigap plans being offered to you side-by-side so that you can make an educated decision about which plan is best for you. Below we have listed some top rated Medicare health insurance plans. The NCQA (National Committee for Quality Assurance) along with US News created a ranking of the top Medicare supplement health plans available in the US. The plans are ranked according to best customer satisfaction, claims handling, medical treatment, communication, disease prevention, and quality of specialists. Top 10 Medicare Health Plans for Seniors Kaiser Foundation Health Plan of Colorado (Rank 89.0) Fallon Community Health Plan (Rank 88.8) Geisinger Health Plan (Rank 88.1) Tufts Associated (Rank 88.0)... read more
What is the difference between Medicaid and Medicare?
Many individuals and families are living without health insurance in America, which has led to the popularity of Medicaid and Medicare. When it comes to Medicaid vs Medicare, some people looking for health care assistance fail to realize the difference between the two programs. Although both programs are federally funded, they are typically available to two separate groups of people. Medicaid is a state-run health insurance program available to eligible low-income people, seniors, people with specific disabilities and families with dependent children. The specific eligibility requirements for Medicaid vary per state, but the general requirements are based on financial need. The specific services offered under the Medicaid program are also determined at the state level. The federal government has established a list of services that all states must offer to Medicaid recipients. Some of the mandatory services offered under the Medicaid program include inpatient and outpatient hospital care, physician and midwife services, prenatal services, pediatric care, x-rays and laboratory testing and vaccines for kids. Optional services offered in some states include chiropractic, dental, private duty and physical therapy services. Understanding the Four Parts of Medicare Medicare is a health insurance program funded by the federal government that is available to people over age 65, younger individuals with certain disabilities and individuals diagnosed with End-Stage Renal Disease. Medicare has four parts – Part A, Part B, Part C and Part D. Each part has its own features. Most individuals meeting eligibility requirements receive Part A at no cost. Those who do not qualify for free coverage can purchase Part A. Individuals electing to receive the other three Medicare parts must pay a... read more
What is Life Insurance?
Life insurance is a contract between you the policy holder and the insurance contractor. This is an agreement whereby the insurance policy holder agrees to pay a specific life insurance rate, and in return, in the event of his death, the policy’s premium would be paid out to his beneficiary(s). Why You Need it? Life insurance is an investment in your family’s future and the most secure way to ensure their financial security in the event of your death. If you die, your family will lose your income and be forced to pay the monthly expenses out of a much smaller pool of money. Life insurance can help cover some or all of this lost income, plus the costs of the funeral, depending on the policy that you choose. Types of Life Insurance There are two general types of life insurance to choose from; temporary and permanent, each of which has subcategories with differing policy features. Temporary – Temporary life insurance, also known as term life insurance, is a life insurance policy where the policyholder pays a specified premium in return for a guaranteed payout if he dies during that time. Depending on the policy, once the time period is up, there may be the opportunity to renew. Permanent – This is life insurance that remains in place until the policy matures or the policy holder cancels the coverage. The only way the insurer can discontinue its insurance coverage to you is if there is evidence of fraud on your life insurance application. Permanent life insurance holders can usually have early access to their benefits in the cash value by... read more
Compare Public And Private Health Insurance
Health insurance in the United States is predominantly privatized, with almost 60% of Americans getting their insurance through a private health insurance company. The remaining Americans are either going uninsured or using public health insurance programs. Not everyone who can’t afford sufficient private health insurance will qualify for public health insurance; in fact, most won’t. This means that the majority of Americans are under-insured or not insured at all. Below is a more in-depth look into how both the private and public health insurance systems work. Private Health Insurance Health insurance in the United States is, for the most part, owned and operated by private companies. While there are many types of private health insurance plans, they can all be grouped into 3 larger categories: Fee-For-Service (Traditional Private Health Insurance); Health Maintenance Organizations (HMOs); Preferred Provider Organizations (PPOs). Fee-For-Service is private health insurance that requires you to pay monthly premiums to your insurance company, which will cover most of your health costs. You will then be required to pay extra for certain services. Health Maintenance Organizations (HMOs) are prepaid health plans. You pay monthly premiums, but unlike fee-for-service you must receive your health care directly from their facilities. You can get an HMO Insurance Quote here. Preferred Provider Organizations (PPOs) are health insurance where you pay a monthly premium, along with a small co payment when you visit the doctor. This type of plan limits the doctors and medical facilities you can use. Public Health Insurance Publicly funded health insurance is available to senior citizens and low-income individuals and families, if they meet certain requirements. The primary vehicles for... read more
Humana Medicare Health Plans
Humana is one of the biggest health insurance providers in the country providing one of the largest health care networks. Nearly 10 million people are enrolled in Humana in America including 5 million Medicare policy holders. Humana offers a wide range of additions to Medicare so you can find a plan that fits your lifestyle, your coverage needs, and your pocketbook. Humana is “A” rated by A.M Best and has been in business for over 50 years. Humana offers there types of coverage for Medicare beneficiaries Medicare Supplements, Medicare Advantage plans as well as Medicare Part D prescription drug plans. Humana offers health insurance services in all 50 U.S. states, D.C., and Puerto Rico. Humana Medicare Supplement Since all Medicare supplement plans are standardized, which means every plan generally offers the same coverages across the board. What you want to do is check if Humana has a competitive rates for the Medigap plan you find most favorable. Also double check the prior two years renewal rate increase history for Humana in your area. Remember that Humana Medicare supplements do not have any network restrictions (except Medicare Select Plans or Choice Plans). With Humana you don’t have to worry about if your doctor accepts the plan or if it’s good in another state when you travel. Humana offers Medicare Supplemental plans A, B, C, G, K, L, N and a high deductible version of Plan F. Humana Medicare Advantage When shopping for a Humana Medicare Advantage plan keep this tip in mind. Like Part D drug plans Medicare Advantage plans pricing and availability is based on which county you live... read more
AARP Medigap Plans – Medicare Supplement
AARP Medicare Supplement insurance (also called Medigap) is meant to help people with some health care costs that Medicare Part A and Part B do not cover, such as deductibles, co-payment and coinsurance; it also covers further services, such as health care, when one takes a trip outside the United States. AARP (American Association of Retired Persons) is a nonprofit organization that assists people aged 50 and more with enhancing their lives’ quality, by promoting adequate and reasonably priced medical care. It is the largest organization for people over 50 in the United States and has agencies in all states. What is Medicare? Medicare is the medical insurance for people aged 65 and over, for people under 65 with particular disabilities and for all those with ESRD (End-Stage Renal Disease). Each part of Medicare covers certain services: – Part A – hospital insurance – Part B – medical insurance – Part D – medical prescription drug coverage What is AARP Medicare Supplement and what does it Cover? Medigap is private health insurance that supplements the “gaps” in Medicare Part A and Part B. When you have both Medigap and Original Medicare, each will pay its share for covered medical treatment costs. Every such supplement policy follows state and Federal laws designed to protect the insured party and, no matter where you buy it from, it provides the same basic benefits. However, not all types of the AARP Medicare Supplement insurance policies may be available in every state. What you must know when you buy the AARP Medicare Supplement. – You must have both Part A and B Medicare. – You can... read more
Humana Enhanced PDP for Seniors on Medicare
The Humana Enhanced PDP (Prescription Drug Plan) is made available to Seniors over the age of 65 and anyone on Medicare due to a disability. This is a premier Medicare part D plan offered by Humana Medicare. This plan is for seniors who need more then basic drug coverage offered by Medicare but not a whole comprehensive plan. This Enhanced PDP offers a zero deductible and affordable premiums. Humana is a stand-alone prescription drug plan with a Medicare contract. Humana offers several different drug plans (part D) for all your needs. Including Humana-Walmart Prescription Rx Plan, and Humana Complete. If you are looking for prescription drug coverage plus additional health coverage Humana Medicare Advantage plans might offer the coverage you need. They offer Humana Gold Plus Advantage (HMO), Humana Gold Choice Advantage (PFFS), and HumanaChoice (PPO). Frequently asked questions about the Enhanced drug plan. Does it come with a deductible? No. There is non deductible with this drug card. How much is the premium? The monthly premium for the Humana Enhanced PDP averages to around $40 a month for Medicare beneficiaries. Are my drugs covered? We have attached the Humana Enhanced Forumlary below. What will my copay’s be with this drug plan? Below we have summarized the benefits of the Humana Enhanced PDP. You will simply look up in the forumlary. which tier your medication falls under and will see what your share of cost is. Summary of Benefits Medigap Comparisons for the Humana Enhanced PDP Prescription Drug Plan 2012 Annual Deductible $0 Out-of-Pocket Maximum None Prescription Drug Deductible $0 deductible on all drugs except Tier 1: Preferred Generic Drugs. Retail Pharmacy for Prescription Drugs: Preferred Generic :After... read more
Humana Walmart Prescription Rx Plan – Part D
Humana and Walmart have teamed up to offer seniors a Humana Walmart-Preferred Rx Plan (PDP) with the lowest premium for a Medicare Part-D prescription drug card in the country. The premium is only $18.50 a month. Humana and Walmart can provide momentous savings on your prescription medicine costs. This plan is available to most Medicare beneficiaries, including seniors and people with disabilities. Humana is a stand-alone prescription drug plan with a Medicare contract. Other pharmacies are available in network. “One of the primary goals of health care reform is to make health coverage more affordable – and that’s what we’re doing with the introduction of this low-cost Medicare Part D plan,” said William Fleming, PharmD, vice president of Humana Pharmacy Solutions. “People are more likely to take the medications prescribed for them when they can afford those medications. And adhering to prescription-drug regimens can enable people to be healthier and prevent future illness. At Humana, we believe that this prevention helps people live healthier lives and achieve lifelong well-being.” This drug card makes a GREAT addition to an affordable Medicare Supplemental Insurance Policy. Remember if you already have a Medicare Advantage plan, then it will probably already have your Part-D benefits included! This drug plan covers more than 1500 generic drugs, it was designed with you -the senior in mind, to save you money. You will pay the lowest out-of-pocket when you fill your medications at a Walmart or Sam’s Club store. There is a $320 Annual deductible for all drug tiers. Tier 1 preferred generic medications are only one dollar co-pay for thirty-day supply at Walmart or Sam’s Club. Incredible as it... read more
Mutual of Omaha – Medicare Supplemental Plans for Seniors
If you have been researching your options for Medicare, you are going to realize that the answers are not as straightforward as you might have hoped. On the contrary, you will learn that even though the government is providing you with a service, you will still have to do some choices. United of Omaha is part of the Mutual of Omaha Companies and was founded in 1926, with a diversified portfolio of life insurance, fixed annuities and other insurance products including Medicare Supplements. Policies are a part of a long history with the reputation of providing quality products since Medicare began in 1966. Original Medicare, the service program provided by the government, is not setup to cover all healthcare costs. You will find that some costs, such as deductibles and co-pays, are not covered with the program. This would cause many seniors in financial trouble. That’s why there are Medicare supplemental insurance plans to fill the gap. These plans are often referred to as Medigap programs. If you are ready to start discovering the unknown Medigap programs, there are some things you will need to be aware of. The best time for you to obtain a extra plan is during the open enrollment period, lasting six months from the first day of the month in which you turn 65 or older and enrolls in Medicare Part A and B. During this point applications will not be subject to underwriting, the insurance company cannot reject any position they sell, and do not have a waiting period for coverage to begin, or charge more for a policy based on past or current health condition. Content... read more