Medicare Supplement FAQ
What is Medicare Supplement Insurance?
It’s a private health insurance policy specifically designed to pay expenses that are not covered by Parts A and B of Medicare.
At what point am I eligible for Medicare Supplement Insurance?
Once you are enrolled in both Medicare Parts A and B, you become eligible for a Medicare Supplement policy.
At what point can I apply for a Texas Medicare Supplement policy?
Open enrollment is the best time to apply for a Medicare Supplement plan in Texas. This includes a 6 month period beginning on the date you enroll in Part B of Medicare (if you’re at least age 65), or up to 6 months after your 65th birthday contingent upon becoming eligible for Part B before you turned age 65. If you become eligible for Part B benefits prior to turning age 65 due to a disability or kidney failure, then you’re guaranteed to be eligible to enroll in the Texas Medicare Supplement policy of your choosing during that first 6 months once you are both age 65 and simultaneously enrolled in Medicare Part B.
Will my Medicare Supplement policy include prescription drug coverage?
Actually, your Medicare Supplement policy will not include RX coverage, however, you can choose to add the optional Medicare Part D Prescription Drug Plan for an additional cost.
Can I enroll in Part D if I do not have Parts A or B?
In order to be eligible for Medicare prescription drug coverage (Part D), you must be entitled to enroll in Part A and/or already enrolled in Part B.
Does Everyone Need a Medicare Supplement Policy in Texas?
Not everyone needs to purchase a Medicare supplement policy as they may already have the gaps in their Medicare plan covered through other means. You more than likely won’t need Medigap policy if you 1) are enrolled in a Medicare Advantage plan, 2) have Medicaid, 3) if the Qualified Medicare Beneficiary Program covers your annual Medicare premiums or 4) if you are still covered under a group health insurance plan through your current or former employer.
What happens if I stay employed after age 65 and continue to receive my employer group health insurancee benefits?
You should be able to choose either your employer group health insurance plan or Medicare in addition to a Texas Medicare Supplement plan. If you decide to stay with the employer group health plan, you can use a Special Enrollment Period to delay the purchase of Part B until you’re ready.
Can I keep my doctor if I have a Medicare Supplement plan?
As long as your doctor accepts Medicare assignment, which most do, you can keep your current physician(s). This also includes specialists and as long as they accept Medicare assignment, your out of pocket costs will be less than if you use a specialist that doesn’t accept Medicare assignment.