The Protection of iPhone Insurance

Having an iPhone insurance policy might one day prove just as useful to you as your iPhone itself.

Why?

Of course, to most of us, insurance probably is not as naturally interesting a subject as the iPhone. Your iPhone insurance policy will typically sit in your files or inbox doing absolutely nothing month after month - so much so that you may even forget it is there.

However, all that may change in the blink of an eye if you are unfortunate enough to suffer:

· the theft of your iPhone; · its destruction or serious damage, due to an accident; · its breakdown outside of the manufacturer's warranty period; · its accidental loss (cover typically available as an optional extra).

Then, suddenly, your iPhone cover is going to seem very important to you indeed.

If you are unlucky and your iPhone breaks down within the manufacturer's warranty period, then that is something you should typically progress with the retailer.

However, in the case of accidental damage (including liquid damage with some providers); loss (if you have optional cover); theft; or malfunction outside the manufacturer's warranty period, then:

some policies provide cover through the idea of replacement - in other words, if your claim is approved, the gadget insurance provider will make arrangements for a replacement iPhone to be with you within 48 hours; the same policies may also offer international cover so that you can be a little more confident about taking your iPhone overseas with you.

To be entirely sure that your cover is in place, you may typically need to comply with a few basic conditions including, perhaps, things such as:

· not leaving your iPhone unattended unless it is locked away and secure; · not tampering with it, as damage caused by your efforts to modify or fix it may not be covered (that may also include fitting accessories); · not lending it to people - as that may also invalidate your cover in some cases.

Of course, as with any insurance product, terms and conditions, exclusions and limitations will apply and you may wish to read these carefully to ensure you understand them.

Nobody seriously doubts that the iPhone has defined new standards for chic style and powerful functionality. Unfortunately, with that comes price and few people would describe the iPhone as being cheap.

It therefore represents, for many people, a big chunk of capital.

Taking steps to protect that investment may seem a sensible thing to do and that is where iPhone insurance may be able to play a part in helping you achieve that.

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How to Save Money With Supplemental Insurance

Health Insurance Premiums Too High?

If you are purchasing health insurance with a fairly low deductible and comprehensive coverage, you are surely paying a lot for it. If you buy a private major medical plan, you have to pay the whole deductible. But even if you get group benefits at work, you may have some choices. By taking the lower deductible option, you are probably agreeing to contribute more of the premium every month. Is there a way to make sure you family is well covered, but still pay a bit less?

Supplemental Health Insurance May Help

If you can purchase a supplemental health and accident policy, in addition to major medical, you may be able to tailor a great solution. Now all policies are different, and you will have to choose from products that are on the market in your area or allowed by your company benefit plans. But many supplemental health and accident policies actually pay cash for covered health issues. That cash can help you cover deductibles and copays, and it can even be used, sometimes, to pay for some things that a major medical plan does not even cover.

Look at an example. Let us say you purchase major medical with a $1,500 yearly deductible. That means that you will have to pay the first fifteen hundred dollars of your medical expenses every year. Most plans start covering at some percentage after that deductible is used up. Let us say your plan pays 80% up to a yearly maximum of $5,000. After that, the major medical plan kicks in at 100%.

An Example Accident With Major Medical Only

In our example, one of the covered family members breaks his leg. This requires a trip to the emergency room and then a few visits to an orthopedist for treatment. We will say the ER visit cost $2,000 which is not an unreasonable assumption. Four visits to an orthopedist for treatment cost $600. So the total bill is $2,600, which does not even include the time lost at work, transportation, etc.

The insured person has to pay the first $1,500, assuming they have not used any of their deductible yet. The insurer agrees to pay eighty percent of the next $1,100, which is $880. So the insured person will still have to pay another $220, bringing the total bill to $1,720.

So far, in this very typical example, the insured person has paid more than the insurer for a common accident.

Our Example With Supplemental Health Insurance And Major Medical

But what if they had actually paid less for a major medical insurance policy with a $2,500 deductible and supplemented that with an inexpensive supplemental accident insurance policy that paid out $2,500 in cash for an accident?

The insured person would only have to come up with $100 out of pocket, and since they had already reached the yearly deductible in this accident, they would not have to worry about it if they needed more medical services later in the year.

Now keep in mind that this is just an example. The numbers I used are from some typical major medical and accident policies, but may not represent an actual case. That all depends upon what types of health insurance plans are marketed in your area or workplace. However, it should give you a starting point to understand how supplemental health insurance can work well for you!

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The Benefits Self-Employed Individuals Can Get From a Cancer Insurance Policy

As a form of supplemental insurance, a cancer insurance policy fills in the gaps of standard health insurance. It reinforces the financial protection already enjoyed by the insured individual and provides added peace of mind. Typically, cancer insurance is considered more of a luxury or even an unnecessary expense. For some people, however, the policy offers the great advantages that make the policy well worth the purchase.

One of the benefits enjoyed by employed workers is the standard issue health insurance policies given to them by their employers. Self-employed individuals are usually not as medically or financially protected. For those who believe they run the risk of being diagnosed with cancer, it may be a good idea to consider getting cancer insurance.

People who are prone to cancer are usually those who have a long family history of cancer-related illnesses and deaths. Cancer treatment in itself can cause a heavy financial burden. Self-employed people are likely to exhaust their income and living expenses, even if they are already insured by a standard health insurance carrier. Traditional insurance providers commonly do not cover incidental costs. Cancer insurance, on the other hand, can cover the out-of-pocket costs that result from getting treated.

Just because it is called a cancer insurance policy does not mean it only covers different types of cancer illnesses. Intensive care unit coverage and at least twenty more serious diseases and health conditions can be covered by some supplemental health insurance plans. Examples of these dreaded diseases include typhoid fever, cholera, malaria, multiple sclerosis and the West Nile virus.

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What is Medicare Advantage and Why Do I Need it?

All you need to know about Medicare Advantage

Medicare Advantage Plans are also known as Part C plans and constitute a section of Medicare Programs. Your health care that is covered by Medicare can be obtained when you opt for this plan. The coverage for prescription drugs which are a part of Part D plans may also be covered under this plan or you can register in a separate Part D plan to receive the prescription drugs coverage.

The inclusions of the Medicare Advantage Plan are:

HMO (Health Maintenance Organizations) PPO (Preferred Provider Organizations) PFFS Plans (Private Fee-for-Service Plans) SNP (Special Needs Plan) MSA (Medical Savings Account) Excluding the Special Needs Plan (which requires a health questionnaire), there are no questions about health asked for the other plans.

All people who are eligible for Medicare will be accepted. Regardless of any health ailments, excluding End Stage Renal disease, people can register for this each year when the enrollment period opens. People who have eligibility for Medicaid and Medicare can enroll for this plan anytime during the entire year. Every time you get medical treatment or visit a hospital or a doctor, there is co-pay involved. There is a cap on the annual put-of-pocket expenses from your end, but this does not always apply.

The Health insurance card you receive with your health care plan can be utilized when you join the Medicare Advantage Plan too. More often than not the benefits and co-payments options are much better when compared to your Original Medicare Plan. People who have opted for HMO or PPO plans should obtain the services of the doctor or the hospital that is listed under the net work provided if they want to avoid high out-of-pocket expenses. Under the Private Fee-for-Service Plans, you can get the services of any doctor or health care provider who accepts Medicare terms, conditions and assignments.

You must possess the Part A and Part B plan of Medicare if you want to enroll in the Medicare Advantage Plan. The Part B plan's monthly premium also should be paid to Medicare. Added to this, to  get the additional benefits offered by the Medicare Advantage Plan, you will also have to a pay a monthly premium towards it. Based on where you are located, you can also avail the facility of $0 monthly premium Medicare Advantage Plan and even get a part of your Part B premiums reimbursed. There are certain plans that are designed to cover dental and visual costs for inpatient services, doctor's tests, hospital fees, skilled nursing, outpatient fees and many others. There are health club memberships also that are included under certain plans.

The Medigap plan will cease to work if you enroll for the Medicare Advantage Plan. There will be no co-payments, cost sharing or deductibles that will be paid by your health plan. Though, as per law you have the right to hold on to your Medigap policy, you might want to consider dropping it when you opt for the Medicare Advantage Plan.

As always, to save on Medigap plans, compare Medicare quotes before enrolling in a specific plan.

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The Security Provided by Supplemental Insurance

Our health is our precious wealth. We only have one life and most of the time, we do not get second chances. But the good thing is, that we can do much to prevent something disastrous from happening. There are many things that we have no control of even if we are the ones in charge of our mind and body, but there are also things that we can do to stay healthy - exercising daily, participating in sports, eating healthy and living a balanced life.

However, one fact cannot escape us all -we can get sick. No matter how healthy, clean and responsible we are in terms of our health, there is still a probability that we will get sick. So how do we counteract this problem?

While there could be many ways to cushion the effects of illness, one of the most reliable ways is to get a Medigap policy. Health insurance is very important for all of us not only because our environment is getting dirtier and polluted everyday but also because we are only human beings who are prone to all kinds of diseases.

The average life span of a person in the U.S. nowadays is 78 years old. And it cannot be denied that during our life here on earth, there will be unexpected circumstances that will come our way such as hospitalization. Our health then does not become our only concern because our finances will be fast catching up. What will happen to us if we are hospitalized and we do not have enough cash to buy medicine or pay off our hospital bills?

Acquiring a supplemental health insurance like Medigap is a wise decision. We all know that medicare does not pay off one hundred percent of the hospitalization expenses we incur while being confined. With a supplemental health insurance, we can be eased of our financial burdens significantly.

Stress is the number reason why most people get sick and just thinking about our loved ones who do not have a health insurance supplement policy can already add up to our daily tensions. Prices of commodities are going up and medicine and doctors' fees are not an exception. However, with a supplemental health insurance policy, our financial burdens are greatly reduced. What is so good about Medigap is that it is light on the budget and the benefits you can have far outweigh every penny that you pay. Keep in mind that buying an insurance is also an investment.

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Medicaid and Medicare Beneficiaries Advantage Plan Options

If you are enrolled in both Medicaid and Medicare, you are considered to be a dual eligible individual. Your health benefits are coordinated between Medicare and your State's Medicaid program. It is important to know that, as a dual eligible individual, you have some choice when deciding on a Medicare Plan.

There are Special Needs Medicare Plans available for certain categories of individuals, including those that have both Medicaid and Medicare. A special Needs Medicare Plan is a type of Medicare Advantage Plan that is offered by a private insurance company. Insurance companies that offer Medicare Advantage Plans contract with and are approved by CMS (Centers for Medicare and Medicaid Services) to administer your Medicare Plan.

There are three types of Special Needs Plans (SNP)

Dual eligible Special Needs Plans for those with both Medicaid and Medicare Chronic Illness Special Needs Plans for those with qualifying chronic illnesses. Institutional Special Needs Plans for those confined to a nursing home.

Part D Medicare Drug Plans are included in all Special Needs Plans. If you are dual eligible and have both Medicaid and Medicare, your co-payments will be subsidized and the Medicare Drug Plans generally will not require a monthly premium. In general, if you are enrolled in both Medicaid and Medicare, you will not pay a premium for your Special Needs Medicare Advantage Plan.

But if you have both Medicaid and Medicare, and Medicaid only allows for partial benefits, you may want to discuss your Medicaid status with your insurance agent to make sure a special Needs Plan is right for you.

The benefits of choosing a Dual Eligible Special Needs Plan

If you have both Medicaid and Medicare, a SNP may allow you more benefits than what you would otherwise have. Many include dental, vision, gym memberships, as well as transportation benefits to and from medical appointments. SNPs for those with both Medicaid and Medicare are generally network-based plans and may afford you some provider options that you otherwise may not have available. If you qualify, you are not subject to the enrollment periods that limit most people who would like to enroll in or change Medicare Plans. Part D drug plans are included in the SNP and you will only have to interact with one customer service department, should it be required.

Medicare Advantage Plans generally offer benefits beyond what original Medicare offers. As a dual eligible individual, you have the right to explore your options. Enrolling in a Special Needs Plan for people with both Medicaid and Medicare may give you more freedom of choice and some benefits you would otherwise not have available.

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In Utah, Cancer Insurance Can Cover the Supplemental Costs of Cancer Treatment

In Utah, cancer insurance is not an unnecessary expense. It can save families from the supplemental costs of cancer treatment. In 2006, 1,370,095 individual cancer cases were diagnosed in the United States, 7,951 of which were residents of Utah. In addition, 2,615 of the state's population died of cancer in the same year. These numbers may be minuscule considering that the state has an estimated population of over two million but they are alarming nonetheless.

Cancer is one of the leading causes of death in the United States. It is also one of the leading causes of falling into debt. According to the National Institutes of Health, the overall cost of cancer treatment racked up to a staggering $219 billion in 2007, including $130 billion for lost productivity and $89 billion for direct medical costs. Non-medical expenses, unfortunately, are not covered by standard medical insurance.

In Utah, cancer insurance benefits can be used to cover the indirect or hidden costs of cancer treatment. As a form of supplemental health insurance, cancer insurance reinforces the financial protection already granted to owners of standard health insurance plans and strengthens one's peace of mind. Because the benefits are sent directly to the policy holder, the patient can control how the money will be spent. He or she can choose to use the benefits to cover for lost income, pay transportation, home care or childcare expenses, or use it for other expenses that are indirectly related to cancer and health care.

For many families, cancer insurance can save them from the heavy financial burden brought on by the dreaded and dangerous disease.

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Getting to Know Medigap

Medicare is now currently paying for only about half of all the healthcare costs for Americans aged 65 and over. The other half of the medical expenses would be up to the people to pay out-of-the-pocket. With Medigap, which Congress standardized in 1992 and revised in 2006, people won't have to worry about the payments because this type of insurance will pay for all medical expenses in excess of what an original Medicare plan covers.

Medigap or Medicare supplement insurance can be any of the 12 supplemental insurance policies named a the letters A through L. Each one of the policies extends a different list of benefits targeted at providing additional coverage that is not available in the Medicare insurance plan. Each of these plans is priced appropriately. Medicare supplement Plans K and L are complementary to the basic benefits offered in Plans A to J. Nonetheless, the plans come at a decreased monthly premium but with raised out-of-pocket expenses.

Plan A is the most basic. Plan B offers everything in Plan A, and also covers the deductible for Medicare hospitalization. Plan C covers everything in Plans A and B, as well as the deductible for outpatient care and some healthcare outside the United States. The same thing applies for others up to Plan J, which covers all Medicare deductibles and most costs under preventive care. Plans K and L work a little differently from the others. They cover most gaps in Medicare coverage but pay only a percentage of those costs. They make up for these reduced payments by placing a cap on an insured person's total out-of-pocket expenses. After the cap is reached, these policies pay 100 percent of all covered costs.

Medigap health insurance policies are issued through private insurance companies and are particularly important to low and moderate-income beneficiaries aged 65 and above, especially those living in rural areas. However, it is available for everyone enrolled in traditional Medicare Part A and Part B, which pay for hospitalization, doctor visits, and other outpatient care. It is much cheaper when compared to other health care plans since, unlike usual medical health insurance plans, medical supplement insurance or Medigap is much cheaper.

It is important to always stay ahead of everything, including medical expenses. We'll never know when we might fall ill and we'll also never know how much our hospital bills will be. To be sure you're covered for the entire cost of your treatment, get supplementary medigap insurance to fill that gap between your Medicare plan and your actual hospital bill.

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All You Need to Know Regarding Medicare Supplement Insurance

Before you buy Medicare supplement insurance there are a few facts you should be armed with in order to get the best choice possible. This type of insurance is very helpful to seniors but lack of understanding of how it is structured can cost you money in the long run. If armed with the facts, you should be able to choose a policy that suits you without adding unnecessary cost.

Policy premiums for this type of gap insurance will be in addition to whatever you are paying now for Medicare. You need to already have Medicare Part A and Medicare Part B before you can get a gap policy. For this reason, supplemental insurance like this is called Medigap because it covers whatever is not covered by your Medicare Parts.

If you are married and your spouse needs coverage as well, you will have to get a policy for each of you. Some people mistakenly believe that they are purchasing a policy which will also cover their wife or husband, but these policies are intended for individuals.

Medigap policies are divided into Plans A-L, and each plan provides a different level of coverage. However, what each plan provides is standard across the board for all insurance companies. In other words, company number one's plan B will be the same as the plan B that company number two provides.

What may be different, however is the price. The insurance companies are allowed to charge whatever they want for any individual plan. For this reason, you should definitely get several quotes in order to assure you are getting the best price. Also, the companies do not have to sell all twelve plans, so if you are being steered towards one in particular you may want to check with another company to see if a different plan might suit you better.

Do not purchase Medigap insurance hoping that it will cover your prescription costs because it will not. Medicare now makes prescription coverage available to all users so if you do not have this coverage in place, you need to get it through Medicare, not gap insurance. The Medicare website has instructions on how to rectify this issue.

US law governs the selling practices of insurance policies, and there are restrictions in place regarding Medicare supplement insurance. One example is that it is illegal to sell any individual more than one gap insurance policy because only one is necessary and they are the same benefits no matter which company you buy from. Do not try to purchase more than one supplemental insurance policy for Medicare, because it is totally unnecessary.

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Medicare Plans - How to Compare Your Coverage Choices

When deciding to compare Medicare plans, you must first decide which plan you want. This means deciding whether you want original Medicare or if you would like a Medicare advantage plan. Original Medicare includes part A, which is hospital insurance, and part B, which is medical insurance. These plans are provided by Medicare, and will give you your choice of hospitals and doctors, as well as other providers. With plan B, you will typically have to pay for a monthly premium. After choosing one of these plans, you may decide if you want part D Medicare, which is prescription drug coverage.

If you do not want original Medicare, your other option while you compare Medicare plans is to choose a Medicare advantage plan. These may include a PPO or an HMO plan. Part C of Medicare includes both part A and part B, meaning you will have medical insurance and hospital insurance. You will have access to private insurance companies that are Medicare approved if you choose this coverage. The costs, rules and extra coverage vary depending on your plan. You will usually pay a monthly premium in addition to the premium you pay for part B, as well as coinsurance and copayment.

When you compare each of these plans, you may choose drug coverage for either plan. For original Medicare, you are required to choose a prescription drug plan, which are run by Medicare approved private companies. For Medicare advantage plans, you may receive prescription drug coverage if it is offered by your plan. If it is not offered by your plan, you may choose to join a prescription drug plan offered by Medicare. For advantage plans, you do not need a Medigap policy. If you already have one, you cannot use it to pay for out of pocket expenses that you have under your advantage plan.

For supplemental coverage with an original Medicare plan, you may choose Medigap to fill in gaps of your insurance. These policies are offered by a private company. The costs of the policies vary by company and policy. Your union or employer may offer coverage similar to this. You may receive other coverage such as Veterans' benefits, military benefits or union benefits. You may also join other types of health plans offered by Medicare. If you have limited resources and income, you may have other choices or be able to save money due to your circumstances.

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Supplemental Insurance - Medicare Part D, Prescription Drug Coverage

When it comes to Medicare Part D Supplemental Insurance, the rules can make it almost impossible to understand. Your pharmacist can be a big help where your insurance provider may not be, as their interest is in getting you to pay for the supplemental insurance.

It is possible to save a huge chunk of change on a Medicare drug plan, but that depends solely on how much the actual cost of your prescriptions is annually. Also, if your prescription needs are likely to change as you grow older, you may find that you end up paying more out-of-pocket expenses than anticipated.

Most Part D plans are quite affordable, running between $12 and $30 a month, but only if your prescriptions run less than $2,250 a year. Most people who have had prescription drug coverage for an extended period of time have no idea how much their prescriptions are actually worth, so get with your pharmacist to discuss what your costs would be if you had no insurance. You also might take this opportunity to talk about lower cost substitutes or generics that you can take instead, though a visit to your doctor will ultimately be required in order to change prescriptions. If you find that your "actual" prescription costs are above that $2,250 limit, then you may want to consider purchasing a more expensive Part D plan or a supplemental plan that you can have in addition to your existing Part D plan.

Here is the problem. Once your prescription costs run above $2,250, you are in what is termed the "Donut Hole". Your coverage with most Part D plans will end while you continue to pay the premiums, at least until the next "open season" and there is no more coverage until you reach the catastrophic limit which is $5,100. If you have chosen the wrong Part D plan you will end up paying 100% of your prescription bill over the $2,250 cap. That could be financially devastating and is what has forced many seniors to choose between food and medicine.

The coverages on Medicare Supplements are all standardized, but the rates are not. Your best bet is to shop around and your best ally will be your pharmacist who has knowledge of each of the prescription plans available and will be able to point out many of the pros and cons of specific plans. Most pharmacies have a consultation area and most pharmacists are more than happy to sit down with you, though it may be best if you make an appointment with him or her. As in most situations, "the only dumb question is the one that is not asked". Talking to your doctor is also an option, but many doctors are 'in bed' with the drug companies and will encourage you to use a specific drug when another, less expensive drug will do. Some doctors also just happen to have favorite drugs of choice and are not thrilled to have their expertise questioned. Your insurance agent, on the other hand, will not be happy if he or she thinks that you are shopping around for a more affordable policy. So, your pharmacist may be the most unbiased and yet the most informed when it comes to helping you to make a decision.

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Supplemental Insurance For Senior Citizens

What Is Medicare?

Medicare is a federal health insurance program for senior citizens and disabled people. Most US seniors do qualify for Part A and Part B of Medicare. There is usually no additional premiums for qualified seniors if they choose Part A. There is a premium, though, which is less than $100 right now for most seniors on Part B. Most social security recipients have the Part B premium deducted from their social security checks so some are not even aware they are paying it.

Medicare is not a new program, and it has been around since the 1960's. So it has helped protect the health of retired and disabled Americans for over a generation now. But even though the traditional plan is not new, there are always new changes. So if you are concerned about Medicare, it pays to keep up. The US government provides a pretty good online resource at medicare.gov. This website can help you stay current, find additional Medicare health plans, and find contact information if you need it.

Why Do People Buy Medicare Supplements?

Even though Medicare is a very large program, it does not cover every medical service that an older or disabled person might need. In addition, there are plan copays, deductibles, and limits. Some beneficiaries choose to purchase a Medicare supplement to help them manage expenses.

What Is A Medicare Supplement?

A supplement, also called a medigap or medsup policy, helps pay copays and deductibles that Medicare does not cover. It is a very specific type of health insurance policy. Private insurers sell these plans, and they are meant to complement the original Medicare plan. A policy owner will be required to pay an additional plan premium for these plans. The cost will depend upon the level of the plan, the age of the covered person, the zip code it is issued for, etc. In this way, it is similar to any other sort of private health isurance plan.

Prescription Supplements

There a newer addition to the Medicare family, and these are called Medicare Part D or RX plans. They are also sold by private insurers, but some of the cost is paid from tax money so the qualified beneficiary will pay a smaller premium. These newer plans help pay for the cost of prescription drugs.

Should You Buy Supplemental Health Insurance?

There is not one right answer for everybody. Sometimes it can be hard to pay the premium on a tight budget. But it can be even harder to come up with the money to cover deductibles or copays if there is no supplement to help. Note that there are different levels of supplemental plans, and these levels provide different types of coverage and have different price tags.

How Much Does Supplemental Insurance Cost?

Let me repeat that the premium will depend upon the coverage level, age, and address of the covered person. There is not one right answer for every Medicare beneficiary. That is why there are so many different options. You should consider your options to find a plan and premium that will work out well for you!

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Understanding Medicare Eligibility

There are two different methods in which someone eligible for Medicare can receive the programs benefits. The first is called "fee for service," sometimes also referred to as "traditional Medicare" or "Basic Medicare." With this type of coverage, a beneficiary can receive healthcare from any physician, hospital, clinic, or other provider of service who accepts Medicare patients. Medicare pays the provider a fee for each for each specific procedure rendered during the date of service. For services Medicare does not fully pay for, the patient has several choices.

Different Medicare Options.

(1) Patients may pay out of pocket. (2) Purchase a private supplemental insurance policy, more commonly known as "medigap" coverage which is designed to pay for what Medicare does not, (3) Purchase Medicare Part D prescription drug coverage as part of a separate Part D Insurance plan. (4) Apply for Medicaid coverage, which is a federal program for low income people that pays almost all of the health care expenses that Medicare does not pay, Even if you do not qualify for Medicaid, you can apply for subsidized coverage of prescription drugs through Medicare Part D.

The second method that people can receive Medicare benefits is through a managed care plan, called Medicare Advantage, offered by private insurance carriers and managed care providers. These plans cover everything that traditional Medicare does, plus additional services Medicare does not cover at all. These programs also eliminate some of the copayments and deductibles required by traditional Medicare.

These managed care plans are usually provided by health maintenance organizations (HMOs) and are generally less expensive than the combination of traditional Medicare with a medigap supplemental insurance policy. However, managed care plans limit the health care providers a patient may use. And sometimes impede access to specialist by not authorizing treatment or limiting care.

Understanding your Medicare eligibility is important. Not knowing the different options available to you could mean the difference in terms of economic feasibility and also the preservation of your health. If you need assistance in researching or navigating the multitude of options available to you, please visit our website at http://www.health-insurance-buyer.com and leave your contact information. One of our licensed agents will call you at your convenience and help explain in detail what is for most a very complex subject in a way you can understand.

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Medigap Or Medicare Supplements

If you or your parents decide to stay with traditional Medicare, you should strongly consider the purchase of a Medigap policy (frequently called a Medicare Supplement) to fill the gaps in coverage. Before making a decision to buy, you need to do some research so that you clearly understand the benefits of each type of Medigap policy and how to compare plans.

A large number of Americans on Medicare rely on some form of insurance whether it be a retiree plan, Medicaid, or a Medigap policy- to supplement Medicare. Let's briefly review some of the areas where an individual might need assistance with Medicare Benefits.

First, Part A, which covers hospitalizations, has a benefit period deductible of $1100 for 2010. The first 60 days in the hospital are provided at no charge once the deductible is satisfied. If hospitalization goes beyond 60 days, the Medicare beneficiary is then responsible for a copay of $275 per day for days 61 through 90. The copay increases to $550 per day for days 91 through 150 which are your lifetime reserve days. For days 151 and beyond, the insured is responsible for all hospitalization costs. In the case where an individual is transferred from a hospital to a skilled nursing facility, the first 20 days are provided at no charge. Days 20 through 100 require the payment of a copay of $137.50 per day. Days beyond 100 in a Skilled Nursing Facility are excluded by Medicare.

Part B, which primarily addresses professional services, has an annual deductible of $155. After the deductible is satisfied, Medicare pays at 80% of approved charges (as determined by Medicare) with the insured being responsible for the remaining 20% and overage charged by the provider of service but not approved by Medicare. This 20% is open ended with no cap.

If you are traveling outside of the United States, Medicare generally does not cover anything. The insured would be responsible for all costs.

Changes Coming to Supplements as of June 1, 2010

Back in 2003 a law was passed that required changes to the types of Supplements sold and the benefits that these plans were to provide. Ironically, this new law takes effect as of June 1, 2010 and has nothing to do with the recently passed Health Care reform bill. In the past, the different types of Supplements had letter names assigned to them corresponding to the alphabet ranging from A through L. With the implementation of the new law; plans E,H, I, and J are being eliminated while plans M and N are being added. People who purchased E, H, I, and J plans prior to June 1, 2010 will be able to keep them as long as they continue to pay their premiums. Please do not confuse the Supplement Plan types with the different coverages available through Medicare; Part A, Part B, Part C, and Part D.

The Supplement plans that will be available as of June 1st will be A, B, C, D, F, High Deductible F, G, K, L, M, and N. These plans are sold by private insurance companies. In actual practice, most companies sell only selected plans. Historically, the "C" and "F" supplements have been the most popular.

With the change in the number of plans being sold come some changes in benefits. Plans E and J have had the "Preventive Care Benefit" eliminated (even though these plans will no longer be sold after 5/31/10). With some exceptions, Medicare has started providing preventive care. However, Preventive Care is first subject to the $155 annual Plan B deductible and then would be pay at 80% of approved charges with the insured being responsible for the balance. "At Home Recovery" has been eliminated from Plans D and G. For new sales of Plan G, the 80% Excess Benefit has been changed to 100%. However, if you have versions of D,G,E and J sold prior to June 1, 2010; you will continue under the old benefit provisions.

What is being added to Supplement plans sold as of June 1, 2010? Basic benefits for plans sold after June 1st will now include your share of Medicare Part A eligible Hospice Care and Respite Care. Plan K will pay your share of the cost at 50% while Plan L will pay 75% of the cost until the out of pocket limit is met, with any balance then being covered at 100%.

Brief Overview of Supplements C, F, M and N

Plan C: For copayment visits, includes 100% Part B Coverage; provides skilled nursing facility coinsurance; Pays part A deductible; Pays part B deductible; Does not pay part B excess; Covers foreign travel emergency**

Plan F: For copayment visits, includes 100% Part B Coverage; provides skilled nursing facility coinsurance; Pays part A deductible; Pays part B deductible; Pays part B excess; Covers foreign travel emergency**

High Deductible Plan F: For copayment visits, includes 100% Part B Coverage; Provides skilled nursing facility coinsurance*; Pays part A deductible*; Pays part B deductible*; Pays part B excess*; Covers foreign travel emergency**

Plan M: For copayment visits, includes 100% Part B Coverage; Provides skilled nursing facility coinsurance; Covers 50% of part A deductible; Does not pay for part B deductible; Does not pay part B excess; Covers foreign travel emergency**

Plan N: For copayment visits, includes 100% Part B Coverage except up to $20 for office and up to $50 copayment for Emergency room; Provides skilled nursing facility coinsurance; Pays part A deductible; Does not pay part B deductible; Does not pay part B excess; Covers foreign travel emergency**

*High Deductible Plan F pays the same benefits as Plan F after the insured has paid a $2000 calendar year deductible. High Deductible does not begin paying benefits until the insured's out of pocket expenses exceed $2000. Expenses that would go towards the $2000 deductible would include the deductibles for Part A and Part B. However, the separate $250 deductible for foreign travel emergencies would not be included in the $2000 deductible for this plan.

**Emergencies which occur outside the United States are generally not covered. These supplements do provide 80% coverage after a calendar deductible of $250 up to a maximum lifetime benefit of $50,000. The insured would be responsible for the other 20% of charges.

As mentioned, M and N are new plans for 2010. These plans are cost sharing plans and the insured will be responsible for a larger portion of the costs when compared to Plan C or F. Like the C or F plans, M and N will continue to allow an insured to visit any doctor or hospital as long as the provider of service "accepts Medicare assignment." In terms of cost, a Plan M is expected to be about 85% of the cost of a Plan F while a Plan N should be about 70% of the cost of a Plan F.

An individual who combines a prescription drug plan with a supplement and has both Parts of Medicare, should look forward to complete medical coverage.

Ed Walden is owner of Walden Associates Insurance Services, an independent agency that has over 55 years of experience in employee Benefits, Individual/Family Insurance, and Commercial Property/Casualty Insurance fields. Ed is certified to sell Medicare, along with Long Term Care, and many other products. Ed holds the designations of Chartered Life Underwriter, Registered Health Underwriter, Registered Employee Benefits Consultant. We pride ourselves on experience, knowledge, and being extremely accessible to our clients no matter how large or small the concern. We do not work for any insurance carrier so your needs are our top priority.

Watch for a future article that explains more about Medicare's prescription drug plans.

Medicare's website, http://www.medicare.gov, is a good source of information to aid in researching the types of Medigap policies available. Medicare does publish an official guide to purchasing Medigap policies called Choosing A Medigap Policy: A Guide to Health Insurance for People with Medicare. This guide can be obtained by calling 1-800-MEDICARE or it is available for download on medicare's website. In addition, it is available at our website: http://www.waldenbrokers.com.

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Supplemental Medicare Insurance - Tips For Finding the Best Rates

When it comes to health, this is one thing that you don't want to skimp on. Many people currently benefit from the Medicare system, but find that this type of policy doesn't cover all of the involved health needs that they and their families may share. To this end, it can be a good idea to look into the idea of taking out some sort of supplemental policy that will tie up loose ends, and make sure that you are completely covered in the event of any sort of health emergency or other situation. This process begins with first examining what is currently covered.

If you are happy with the doctor that you have now, you will not want to have to switch health care providers under a new policy. That is why supplemental Medicare insurance is a good idea, because you will have no need to start all over with a completely new policy. Instead, you will still be able to carry on with the same level of coverage that you are accustomed to, given by the same providers. However, you will have the freedom to receive more coverage for special circumstances if necessary.

A good first step towards uncovering affordable rates on these specialty types of insurance policies is to think about what you need to have covered that isn't. The next step is to compare different policies, to see what's out there. These supplemental policies are offered by private insurance companies, so their rules and regulations will completely depend on what that company says. In addition, their price quotes will also depend on the variables set out by the private insurance company. Because there are so many that may be offering quite similar looking policies, it can become difficult to sift through all of this paperwork to find the one that is the best for your needs.

This is where the assistance of a qualified insurance professional can come in handy. There are insurance agents that specialize specifically in supplemental Medicare insurance, for example. These professional can help by comparing the different quotes side by side, and then explaining the differences in policy and coverage that each company is offering you. Together, you can then work out the best final solution for your supplemental coverage problems. There is no need to settle for anything less than full health coverage, so if Medicare is not quite meeting your needs, it's a good idea to fill in the gaps.

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