Most Americans receive Medicare when they turn 65, and Missourians have the right to purchase a Missouri Medicare Supplement of their choice at that time. This means you have the opportunity to get the lowest, non-tobacco rate on a policy you can use anywhere in the 50 United States (no networks) without passing health questions, and the policy is guaranteed renewable for life. Forthe mostinformation see:
MISSOURI MEDICARE SUPPLEMENT
Many folks miss this opportunity, leaving them scrambling to find insurance that will pick up the hefty 20% that Medicare leaves you to pay, not to mention a $1,100 hospital deductible and $137/day starting at your 21st day in a Skilled Nursing Facility.
Starting June 1, 2010, many companies began carrying the Plan N Medicare Supplement. You may even be able to get this plan if you have been denied coverage previously. The Plan N covers the entire $1,100, the additional hospital coinsurance from day 60 onward, the first 3 pints of blood, and most of the 20% (all "gaps" Medicare would usually leave for you). What does a Plan N not cover? The $155 annual deductible for outpatient care, and a $20 copay for doctor visits and a $50 copay for emergency room visits.
The premiums for Plan N are currently about 25-30% lower than the popular Plan F. No doubt this plan will be the preferred choice for folks coming off of Medicare Advantage Plans (slated to happen soon).
The combination of Medicare, Medicare Supplement insurance, and Long Term Care Insurance are a powerful combination to complete one's senior health care needs. Missourians should consider making this decision and getting all the facts before settling on a company. Be sure to choose an agent who has a strong reputation in the business, has experience processing claims, and is courteous and helpful! He or she should be able to explain in simple terms how these insurance policies can work for you.
