Incredible Rate Cuts for Medicare Advantage plan Insurance

The only two new Medigap policies that were added to the Medigap insurance list during the year have both increased their premiums more modestly than some policies already on the market. Medigap M and N policies maintain low premiums by paying a given portion of Medicare bills.

Policy M insures only 50% of Medicare’s share. A portion of more than $ 1,100 must be satisfied before Medicare will cover hospital expenses. If hospitalization is not likely, it might be helpful. Policy N reduces premiums by paying part of the Medicare Part B coinsurance for medical services. This policy might function adequately if normally you spend less on co insurance Part B protection.

Apart from these new affordable cost policies, one of the big names in Medicare insurance has suggested cutting Medicare premiums as the need grows. Blue Cross Blue Shield, a name that is often not seen as a leader in low cost health insurance, wants to offer more discounts on Medicare advantage plan policies for low-income seniors in Michigan.

What is Medicare Policy Advantage planal Insurance?

Blue Cross which is the largest insurer in Michigan already uses 1% of its premiums to lower the price of Medigap-insured patients and advantage plan Medicare insurance. Blue Cross representatives say this represents a 39% discount currently distributed fairly to people with Michigan Medigap policies. The Blue Cross Society claims to distort this distribution in order to offer the largest discounts to the people who need help the most.

“We are asking people to pay 50 cents more a day to help people their age, but have trouble eating or paying their mortgage or health insurance,” said Andy Hetzel of Blue Cross. All seniors would still receive at least 25% off, but the poorest in Michigan would receive additional help. For example, the Blue Cross policy would mean that a senior with an income of $ 16,245 would pay only half of the monthly premium of $ 191.

If approved by the State Insurance and Financial Regulation Bureau, more than 200,000 Michigan seniors could see a change to their Blue Cross Medicare advantage plans. If you have an income greater than $ 32,600, you will see an increase, but everyone else will get a reduction in the price of their premiums. Will this idea be extended to other states outside Michigan?

No matter where you live, there is a simple way to keep premiums low. A very easy way to make sure you receive the most out of the Medicare advantage plan is to ask for a yearly review, where your needs are compared by independent agents with other Medigap guidelines. Consider visiting www.medicareadvantage2019.org/ to get information on a medicare advantage plan for the next year.

If your health allows you to easily change policies, you can find a better policy that suits you best. It’s a good idea to request a free review of the policy once a year, so that you do not lose it as new policies become available to clients. Of course, when your needs change, it’s always a good time to see if another Medicare advantage planal plan can help you save money.