Medicare Options in Missouri

Most people think that Original Medicare pays for everything because they’ve been paying into it throughout their entire career. Unfortunately, that is not the case. Part A and Part B do cover quite a bit, but there are also gaps within the coverage.

Medigap plans in Missouri were designed to help you will in those gaps. These plans have been around for decades. In more recent years, Congress created another options called Part C Medicare Advantage plans.

Let’s review how these two types of coverage work.

Missouri Supplement Plans

Medicare Supplement plans in Missouri have the ability to offer both comprehensive and partial gap coverage. The most comprehensive supplement plan is Plan F. It offers coverage for each gap within Original Medicare.

Plan G is the second most comprehensive and it offers coverage for every gap except one. With Plan G you will be expected to pay Part B’s annual deductible. As of 2018, the Part B deductible is $183

Another plan that offers similar coverage as Plan G is Plan N. Plan N does not cover your Part B deductible and excess charges. An excess charge is when a non-participating Medicare doctor charges you a 15% extra charge above and beyond what Medicare allows. On Plan N, you would owe this charge to your provider.

In most states you, are able to change your Medicare Supplement plan anytime of year if you agree to go through underwriting. Missouri however, has a Medicare Supplement Anniversary Guaranteed Issue Rule that allows you to switch to a new insurance company once a year without answering any medical questions.

Missouri Advantage Plans (Part C)

Medicare Supplement plans do not include Part D coverage and some people prefer to have that coverage rolled in with their plan. Since Medicare supplement plans cannot include Part D, these people would want to consider a Part C Medicare Advantage plans in Missouri.

Each Part C plan must cover all the same services as Original Medicare Parts A and B. However, the copays you pay for these services may be different on a Medicare Advantage plan

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One good thing about having an Advantage plan is that there is an out-of-pocket maximum cap top protect you from spending beyond a certain limit on Part A and B services.

As of 2018 the max cap is $6700. It’s important to remember that this cap total does not include your Part D expenses. Those are counted separately.

Another thing to keep in mind when choosing your gap coverage is that Medicare Advantage plans typically have lower monthly premiums than Medicare Supplement plans. Advantage plans can have a monthly premium as low as $0, but you still have the potential to spend more money throughout the year on your copays than if you had a supplement plan with a higher monthly premium.

Deciding on Gap Coverage

There is not clean cut, right choice when it comes to Medicare supplemental coverage. Our goal at Boomer Benefits is to lay out all the options so that you can make the most cost-effective choice for your situation. If you choose to contact us we will try our hardest to find you a plan that fits both your needs and your wallet.