Will my Medicare impact other insurance?
Employer Coverage
Is your employer plan outdated? Do you have a high monthly premium? Do you have a high deductible that you have to meet before the plan pays? Have you received a letter telling you are losing your employer coverage? Ouch!
Tricare or Tricare for Life
Many Medicare health plans may include more robust benefits including dental, vision, gym memberships & more to Tricare members. Tricare For Life may pick up the copays on your Medicare Advantage plan leaving you with little out of pocket. Because these Medicare health plans become primary we encourage all beneficiaries to be sure that your network of doctors accept both plans. Refer to your Tricare Handbook for help.
Federal Employee Health Benefits
Because Federal Employee Health Benefits and private Medicare Health Plans offer many of the same benefits you do not need both. You will want to compare premiums, coverages, and benefits to make the right choice.
VA Benefits
A significant advantage you are entitled to with VA benefits is coverage for your medications. The VA system of doctors and facilities is a separate system from Original Medicare. For many beneficiaries the VA facility may be too far away and inconvenient. Many Veterans have experienced lengthy waiting periods making it difficult to obtain services in a timely manner. It is possible to see doctors outside the VA if you have both Part A and Part B. Having a no premium Medical plan separate from the VA system may be a very smart option.
Medicaid
Medicaid is the state administered program to aid low income beneficiaries and is not health insurance. In most cases Medicaid is dependent on income and asset levels.There are several levels of Medicaid and what will be paid for by the state. Some levels of Medicaid will pay doctor’s bills. Other levels may not pay the doctor’s bills. Medicaid will in many cases pay the Part B premium. (2019 – $135.50) Medicaid eligibility and benefits vary greatly between states. Many Medicare health plans provide better benefits than what the state will provide and you still are able to keep your Medicaid benefits. Medicaid does not cover your prescription drugs. You will need to have a prescription drug plan if you want help paying for your medications.
Indian Health Service
Just like Medicaid Indian Health Service is not health insurance and is dependent on income levels. You must be either an American Indian or Alaska Native to qualify for these benefits. Indian Health Service provides funds for tribal and urban Indian health programs and protects you from paying the full cost of medical services. You will want to get either a Medicare Supplement or a private Medical health plan for your insurance. Indian Health Service does not cover your prescription drugs. You will need to have a prescription drug plan if you help paying for your medications .
Medicare Advantage
Medicare Advantage Plans are administered by private insurance companies. When you enroll in a Medicare Advantage Plan, you may have copays, coinsurance or deductibles, and the Medicare Advantage plan will cover the difference. You are required to keep both parts A and B of your Medicare active to be eligible to enroll in a Medicare Advantage plan. Medicare pays these private insurance companies to administer your Medicare benefits. With the Medicare Advantage Plan the billing goes through the private insurance company instead of through Medicare. Medicare Advantage Plans have networks of providers & are NOT Medicare Supplement Policies.
Don’t want a network of doctors?
Medicare Supplement / MediGap
Medicare Supplement insurance is secondary to Original Medicare> This means that Medicare pays first, and the Supplement plan with pay second, is as simple as that. If your doctor accepts Original Medicare they are required to also accept your Medicare Supplement plan. The Supplemental plans are identified by letters of the alphabet such as F, G or N, etc Each plan letter must provide the same benefits regardless of the company you choose even though rates may vary. Medicare Supplement plans cost a fair amount more per month than many of these other options.
