The Affordable Care Act (ACA), or Obamacare as it is popularly known, has caused confusion for many Connecticut residents since its implementation. Obamacare primarily targets people under the age of 65; Obamacare does not take the place of Medicare, and seniors over the age of 65 have the option of purchasing Connecticut Medigap Insurance (or known as Medicare Supplement Insurance) to supplement Medicare.
What Exactly Is Medigap?
Many people get confused about the differences between Medicaid, Medicare, and Medigap insurance, especially about how each type of insurance works in relation to Obamacare.
Essentially, Obamacare is a mandatory health insurance plan for people up to the age of 65, which is when Medicare kicks in. Connecticut is one of the states that has opted to provide Medicaid insurance to people who don’t qualify for Medicare because they are under 65, or because they can’t afford to purchase the mandatory ACA insurance. That’s where Medigap Insurance Connecticut comes into the picture.
Who Should You Get Medigap Connecticut Insurance?
If you currently have Medicare, then you already know that it doesn’t provide 100% health coverage. Medicare employs the 80/20 rule: Medicare pays about 80% of your health care costs, excluding prescription medication, and you pay the remaining 20%. Obviously, routine office visits and non-life threatening medical situations lend themselves well to this rule of thumb. Your out-of-pocket expense is usually affordable. However, if you are faced with an exorbitant medical bill, you need Connecticut Medigap to cushion the blow. That’s why it’s called Medigap Connecticut; it is designed to fill in some of the gaps that Medicare doesn’t cover. Connecticut Medigap Insurance is supplemental insurance that every senior needs.
Do You Qualify for Medigap Connecticut?
Medigap Connecticut insurance follows the guidelines established by the state. To qualify for this supplemental insurance, you must:
• Be eligible for Medicare.
• Be covered under the original Medicare Parts A and B.
Essentially, if you are on Medicare Part A and Part B, you can buy a Medigap Connecticut policy. Keep in mind that Medigap insurance doesn’t work with other types of health insurance, including VA benefits.
Federal law dictates Connecticut Medigap enrollment rules, and the rules apply only to those age 65 or over:
• At age 65, you are guaranteed the right to purchase Medigap insurance for six months after your birthday. During this period, you cannot be denied coverage due to a pre-existing condition.
• If you are six months past your 65th birthday, you may also be guaranteed to the right to purchase Medigap insurance if you have lost your qualified health coverage.
What Else Is Covered?
Connecticut Medigap Insurance cannot be combined with Medicare managed care, however, this type of insurance covers:
• Part A hospitalization coinsurance plus 365 additional lifetime days
• Part B coinsurance, which usually includes 20% of all Medicare-approved expenses
• First three pints of blood each year
Is My Spouse Covered?
Medigap Insurance Connecticut works like other Medigap insurance policies; policies are purchased by each eligible individual. If you or your spouse meets all the other criteria, then Connecticut Medigap, combined with Medicare, pays each plan’s share of the covered healthcare costs as outlined in the policies. Remember, this is an add-on policy meant to fill in the gaps and pay expenses that the original Medicare policy did not pay. In some cases, Connecticut Medigap provides coverage during deductible periods and sometimes covers expenses not paid at all my Medicaid.
Is Medicare Supplemental Insurance Affordable?
Companies offering Medigap Insurance Connecticut plans have similar benefit packages. Premiums do vary and they do fluctuate, so the best approach is to compare premiums from various carriers; the standardized benefit packages, however, make comparisons easy to make. Once you choose a company, you pay your monthly premium directly to the insurance company that provides your coverage.
By working with an insurance broker like Medigap Providers we can explain the different plans and the costs associated with them. We offer nearly all plans and carriers available in Connecticut. Fill out the form on this page our call one of our licensed advisors at (855) 3210-3210.