Kansas Medigap Insurance
Medicare is a federally funded program to provide health insurance to those receiving Social Security benefits. Although a large portion of enrollees’ medical bills are covered under Medicare, recipients must still pay annual deductibles and co-pays. In addition, Medicare determines the fair rates for covered services. If a provider charges more than the Medicare rate, patients are left to pay the difference. Kansas Medigap Insurance (or known as Medicare Supplement insurance) can help cover what Medicare does not pay.
Medigap Insurance Kansas Plans
Kansas Medigap plans are regulated by the Kansas Insurance Department. Individuals can only purchase Kansas Medigap Insurance if they have “original” Medicare. Those with Medicare parts A and B are eligible for a Kansas Medigap plan. In Kansas, companies selling Medigap policies are allowed to determine premium rates using one of two ages: the person’s age at the time the policy was purchased, or the person’s current age. Policies based on current age, also called attained age, can have annual premium increases. Premiums on policies based on purchase age are more consistent; the company can adjust rates for inflation and certain other factors, but the rate will not be adjusted just because the individual is growing older.
Differences in Kansas Medigap Insurance Plans
Kansas permits insurance companies to offer 10 different types of Kansas Medigap plans, but does not require companies to sell all available plans. The plans are assigned identifying letter codes, which are A, B, C, D, F, G, K, L, M and N. The federal government requires all companies selling Medigap insurance to offer Plan A. Plan A gives the most basic coverage and primarily pays for some of the Medicare Part A and Part B expenses not covered by Medicare. Coverage is largely limited to co-pays for office visits, hospital stays and hospice care. Plan B adds coverage for the deductible on Medicare Part A, and Plan C adds coverage for the Medicare Part B deductible and nursing home co-pays as well as emergency care while traveling in foreign countries. Because each plan adds or subtracts covered expenses, has different deductibles and costs a different amount, individuals shopping for Medigap insurance should compare all costs and benefits carefully before choosing a policy. Plans F and G or the two most common plans in Kansas today, plan N is a close third.
Medigap Kansas High-Deductible Plans
Kansas permits insurance companies to offer plans with high deductibles. High-deductible Medigap Insurance Kansas plans typically offer lower monthly premiums, but participants must pay meet the annual deductible before the plan will pay any benefits. Plans with high deductibles may apply a different deductible to each Medicare part or to different services covered by each part. Medigap Insurance Kansas plans include a variation on the standard Plan F.
About Out-of-Pocket Limits on Medigap Kansas Plans
Some Kansas Medigap plans limit the amount that participants must pay out of their own pockets during the year. For example, Plan K has an out-of-pocket limit over $4,000, and Plan L has a limit over $2,000. Once the annual out-of-pocket limit is reached, the insurance will pay all covered benefits up to any other policy limit, such as a lifetime maximum.
Enrolling in Kansas Medigap Insurance Plans
Under Kansas law, anyone who becomes eligible for Medicare Part B must be allowed to purchase any Medigap policy offered by insurance companies in the state during the first six months they are eligible. Federal law only covers those receiving retirement benefits, but Kansas extends eligibility to those receiving Social Security disability payments. During the initial six months, insurance companies cannot refuse to sell an applicant any Medigap Kansas plan they offer in the state, and they cannot charge applicants more because of current or pre-existing health problems. After the first six months, however, applicants can be subject to different rules as long as the insurance company does not violate federal or Kansas law. Please keep in mind, laws may be different for those under the age of 65 and not all Medicare Supplemental insurance carriers have to offer these plans.