By B. Loughead
Out of
everyone in the country, Medicare beneficiaries have been the most wary of the
Affordable Care Act (ACA) or “Obamacare.” Many fear that it will change their
Medicare and Medigap plans, either by increasing their prices, decreasing their
coverage, or by replacing them altogether.
However,
those who’ve been worried about this can rest assured that little to nothing
about their Medigap or Medicare plans is going to change due to the ACA. (Some
changes in price and coverage may change to do other forces such as inflation,
however.) People with a Medicare Advantage plan however are seeing a lot of changes to their network, benefits and in some cases their doctor no longer being accepted. This is not happening with a Medigap Plan.
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| Medigap Supplement Information |
Additionally,
Health Care Reform is not going to clash with their chosen Medigap plan.
Medicare and Medigap alike are not going to be turned over to the exchanges,
and will remain separate programs entirely. The ACA is primarily aimed at the uninsured under 65 and others who do not meet the criteria to
qualify for Medicare and Medigap supplement plans. Also by having Medicare and
Medigap coverage, they meet the criteria for coverage and therefore will not
have to worry about any penalties come tax time as they do meet the individual
mandate that the ACA introduced.
Plus, thus
far, the only real changes brought about by the ACA to Medicare and Medigap
plans in particular have been very positive. They have included two things:
·
* A reduced cost for certain prescription drugs for beneficiaries
· * The
addition of certain forms of preventative to Medicare’s list of covered
services.
Medigap,
likewise, is not going to change very much as a result of the ACA, because,
while the plans are standardized by the government according to their letters,
it is an entirely separate program. Medigap is not subsidized by the government
like the exchange program or Medicare program, and all supplementary insurance
plans are sold and operated by private insurers, which are responsible for
their own fine print, including cost and coverage.
Medigap
Users- No Need to Worry!
Many people
also have wondered if perhaps they’d find a better deal on the exchange than
they find through government sponsored Medicare and Medigap supplementation.
However, know that you’re getting a much better deal through Medicare and
Medigap for more comprehensive coverage at a lower cost simply because it is
Medicare and Medigap. Most health policy experts would tell you that if you
qualify for Medicare, you would do well to stick with it, and also to get the
best supplemental insurance you can for your health needs. Government subsidies
for Medicare still mean that you’ll end up spending less for better care.
It is a good idea to have an independent agent review your Medigap Plan every few years to see if you can save money. New plans and carriers come out all the time and an independent agent would be able to show you whats available in the marketplace. The best part is you don't have to wait until October like Medicare Advantage Plans. You can actually switch your plan any time of the year that it benefits you.
Summit Medigap is an independent insurance agency that specializes in Medigap supplement insurance. We make Medicare seem easy™. For more information about Medigap supplement insurance visit http://www.SummitMedigap.com/
or call us at 1-888-40-Summit (888-407-8664). We have helped many
people in Florida, Georgia, North Carolina, South Carolina, Texas,
Colorado and Michigan to name a few.
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