Here in Texas, we have a wide variety of Medicare plans. Dallas Medicare insurance options include standard Texas Medicare supplement options as well as Medicare Advantage plans. We can educate you on the differences so you can find what fits you.
Dallas Medicare Supplement Plans
Medicare supplement insurance policies have premiums that vary based on your gender, age, tobacco-use, home zip code, and more. However, Medicare supplement insurance plans are standardized by the federal government. The same basic benefits exist in the insurance plan options offered in Dallas as they do in plans offered elsewhere in the state.
Many people enjoy Medicare supplements (Medigap plans) because they allow freedom of access to all providers on Medicare. Medigap Plans F, G, and N are very popular here. However, Plan F is only available to you if you became eligible for Medicare before the start of 2020. If not, then the most comprehensive Medigap plan available to you is Plan G.
This isn’t bad news either. In fact, Medigap Plan G is usually more cost-effective than Plan F since the only thing Plan G doesn’t cover is the Part B deductible, and the savings in premiums more than makes up for your out-of-pocket costs.
Medigap Open Enrollment window
The best time to enroll in a Medigap plan is during your one-time six-month Medigap Open Enrollment window. During this time, you won’t have to answer any health questions during your application, meaning you can’t be turned down or given a higher rate due to pre-existing conditions.
The Medigap Open Enrollment window is depending upon when your Part B starts. For example, if your Part B starts on July 1st, so will your Medigap Open Enrollment. Your Medigap Open Enrollment window lasts for six months, and after that, you will have to answer health questions when applying for a Medigap plan.
Dallas Medicare Advantage Plans
There are also many Dallas Medicare Advantage insurance plans. You can find Medicare HMO, Medicare PPO, and Medicare Private Fee-for-Service (PFFS) insurance options. Because this metropolitan area is so large, there are multiple Medicare Advantage insurance plans where you reside. Major carriers like Humana, Aetna, Cigna, and United Healthcare Medicare Solutions operate plans in the Dallas area.
The main differences between Medigap plans and Medicare Advantage plans are the premiums, payment process, back-end spending, and networks. Medicare Advantage plans generally have lower premiums than Medigap plans – some even have $0 premiums. Medicare Advantage plans pay instead of Original Medicare, whereas Medigap plans pay after Original Medicare.
With a Medigap plan, you generally have predictable spending each year. However, with a Medicare Advantage plan, that goes out the window. You’ll have deductibles, copays, and coinsurance when using your plan, so there is no telling what you’ll pay each year.
With that said, each Medicare Advantage plan does have a maximum allowed out-of-pocket that limits you to a certain spending amount each year. For example, a plan may have a $6,700 MOOP, meaning you won’t pay more than $6,700 out of pocket for covered services.
Also, Medicare Advantage plans have networks, whereas Medigap plans do not. With a Medigap plan, you can see any doctor in the country that accepts Medicare. With a Medicare Advantage plan, there are specific doctors who choose to accept your plan.
Working with an agency like ours will help you make the right decision based on your individual needs. There is no charge for our services! We work with Medicare beneficiaries to assess which type of insurance plan fits you best. Representing many companies, we will search them to make sure you get your chosen policy at the best rate available.