FAQ

Q: What Medigap Plan / Medicare Supplement Plan do you recommend?

A: We typically recommend Plan F or Plan G because both offer 100% Excess Charge Coverage. Plan F is "the best" because it offers the most comprehensive coverage. Plan G has all the same benefits except it does not pay the Part B annual deductible. (See Chart)

Q: What are "Excess Charges"?
A: From the 2010 Choosing a Medigap Policy booklet: "Excess Charge—If you have Original Medicare, and the amount a doctor or other health care provider is legally permitted to charge is higher than the Medicare-approved amount, the difference is called the excess charge."

Most of the time, doctors who take Medicare insurance are on "assignment" which means they will settle for the Medicare-approved amount for their services. This is often a greatly reduced fee that is split 80/20 between Medicare and you or your Medicare Supplement. Typically you will not see any excess charges; however, excess charges could become a factor under more costly circumstances when the Medicare-approved amount is considered much too low. "Excess Charges" are the agreed upon compromise wherein you the client may be charged up to an additional 15% above the Medicare Approved amount. This could amount to hundreds or thousands of dollars above the standard 80/20 split.

Q: Can I choose any Medigap plan or Medicare Supplement Insurance company I want?
A: Yes, if you are in your Open Enrollment Period. Otherwise you are subject to pre-screening and underwriting approval. Be sure to contact us so we can help you find out which Medicare Supplement Insurance companies might accept you.

Q: What is / When is my Open Enrollment Period?
A: From the 2010 Choosing a Medigap Policy booklet: "Open Enrollment Period (Medigap)—A one-time-only, 6-month period when Federal law allows you to buy any Medigap policy you want that is sold in your state. It starts in the first month that you are covered under Medicare Part B and you are 65 or older. During this period, you can’t be denied a Medigap policy or charged more due to past or present health problems."
If you are under age 65 on Medicare disability you have two open enrollment periods: 1) for Medicare Part B disability, and 2) when you turn age 65.

Q: How long does it take to enroll and receive my new Medicare Supplement?
A: Days to weeks. There are various factors such as: mailed vs. faxed application; if an insurance company orders your medical records; if a company calls you to verify information and is unable to reach you; if your check bounces or paperwork is incomplete.

Q: Do Medicare Supplements cover my prescriptions as well?
A: No, you will need a seperate stand-alone Prescription Drug Plan. TX BEST MEDIGAP can help you with that too. Click here to let us know what we can do for you.