Word: medigap
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First, stay enrolled with your current HMO until Dec. 31. Why? That's the only way to guarantee you will have access to four types of supplemental, or "Medigap," insurance (Plans A, B, C and F) that helps pay for some expenses Medicare doesn't cover. (More than 60% of Medicare patients have some sort of supplemental insurance.) If you leave your old HMO before Dec. 31, however, your withdrawal is considered voluntary and will jeopardize your ability to get Medigap insurance...
Second, do your Medigap paperwork now, so that your new policy will take effect Jan. 1. Otherwise you risk having a break in your coverage...
Third, understand that if you entered a Medicare HMO for the first time in the past 12 months, and your old Medigap insurer still offers the policy that you carried, the insurer is required to take you back...
WASHINGTON, D.C.: At a time when Congress is considering possible cutbacks in Medicare coverage, the cost of Medigap policies, which cover health care costs that Medicare does not, has increased some 20 to 40 percent, according to the advocacy group Families USA. The organization, which promotes liberal policies on health care issues, analyzed the premium increases between 1995 and 1996 for Medigap in 35 states for Prudential and Blue Cross/Blue Shield. The two insurance giants cover more than 50 percent of the $12 billion Medigap market. The group attributed much of the increase in premiums to hospital outpatient charges, which...
...Medicare payroll tax. Projections showed that this tax hike would cost $9 billion by 1993, a prospect that brought out thousands of small businesses and the U.S. Chamber of Commerce in opposition. They were joined by the health-insurance industry, looking to protect its lucrative stake in private medigap insurance...