Medicare Insurance Arizona
Arizona Medicare beneficiaries have different options available for obtaining the proper Medicare coverages. In 2019, the Centers for Medicare and Medicaid Services reported that there were 1,325,833 Arizona medicare beneficiaries.
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When you understand the basics of Medicare, you will quickly learn that there isn’t a “one size fits all” plan.
We are here to educate you about all your choices.
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original medicare
In Arizona, you can choose your coverage through Original Medicare, Parts A and B, a government-sponsored program for seniors and disabled individuals who meet certain criteria. Those who are eligible could add prescription drug coverage with a Medicare Prescription Drug Plan (Medicare Part D). Original Medicare only offers limited prescription drug benefits.
Medicare Part C
Arizona beneficiaries could also elect to receive their Medicare Part A and Part B coverage through Medicare Advantage Plans (Medicare Part C). Medicare-approved private health insurance companies offer these health plans to their Arizona beneficiaries. These plans have to cover the same level of benefits as Original Medicare, but some offer additional benefits including:
Medicare Advantage Plans
Medicare Advantage plans in Arizona differ from the government-sponsored Original Medicare and the benefits available are dependent upon your location. Each year, companies renew their contract with Medicare and this could change the availability of services in your Arizona community.
Four out of every ten Medicare beneficiaries use a Medicare Advantage plan. All 15 Arizona counties offer Medicare Advantage plans but they’ll vary according to your locale. Medicare Advantage plans share eligibility with Original Medicare, and there’s an annual enrollment window during the fall and winter months and an open enrollment period between the winter and spring.
Those who elect to enroll in a Medicare Advantage plan including prescription drug coverage, they’ll be eligible to receive all of their Medicare health and prescription benefits in one plan. You’ll still be responsible for paying your Part B premium and any other Medicare Advantage plan premium.
If you’re unsure whether or not you’ll get the services that you require, then speak with an Arizona Medicare professional about your options. There may be penalties for procrastination when Medicare is involved, so experts suggest inquiring about your eligibility for Medicare sooner rather than later.
ARIZONA MEDIGAP POLICY
Medigap plans provide Original Medicare beneficiaries with the assistance they require to pay their out-of-pocket costs. This is also known as a Medicare supplement plan. Private insurers issue Medigap plans according to the ten different plan designs outlined by the government.
Each plan will differ in price due to the services offered. Since the plans are standardized, it makes it easier to compare plans and beneficiaries can expect the same benefits across each plan regardless of the insurance provider.
According to an analysis conducted by Business Insider, the average cost for the most popular Medigap plan (Plan F) in Arizona in 2016 was around $143/month. Currently, there are 69 insurers licensed to sell Medigap plans in Arizona.
There is no annual open enrollment period for Medigap plans. Federal statutes specify a six-month guaranteed-issue window beginning when an individual turns 65 and enrolled in Medicare Part B.
Medicare Supplement plans normally cover Medicare Part A copayments and hospital costs for up to an additional year after Medicare benefits run out, some coverage of hospice care, and Medicare Part B a portion or all of your coinsurance/copayments.
Arizona Medicare Supplement insurance plans may only be purchased in combination with Original Medicare Part A and Part B. Typically, Medicare Supplement plans cost more than plans that cover only a portion of Original Medicare’s out-of-pocket costs due to the added benefits and services
ARIZONA MEDIGAP COVERAGE
Medicare Supplement plans normally cover Medicare Part A copayments and hospital costs for up to an additional year after Medicare benefits run out, some coverage of hospice care, and Medicare Part B a portion or all of your coinsurance/copayments.
Arizona Medicare Supplement insurance plans may only be purchased in combination with Original Medicare Part A and Part B. Typically, Medicare Supplement plans cost more than plans that cover only a portion of Original Medicare’s out-of-pocket costs due to the added benefits and services
ARIZONA MEDICARE SAVINGS PROGRAMS
If your income is lower than the limits set by the government, then you may be eligible to receive financial support. Medicare Savings Programs (MSP) can offer assistance with out-of-pocket expenses that Medicare doesn’t cover, such as copayments, deductibles, and premiums.
Arizona offers three MSPs to financially assist Arizona Medicare beneficiaries:
Qualified Medicare Beneficiary (QMB)
pays for Part A and B cost-sharing, Part B premiums, and Part A premiums if owed. The income limit for QMB recipients is $1,074 a month when single and $1,452 a month for married couples.
Specified Low-Income Medicare Beneficiary (SLMB)
pays Part B premiums for qualifying Medicare beneficiaries. The income limits are from QMB levels up to $1,288 a month for singles or $1,742 a month for married couples.
Qualified Individual-1 (QI-1)
pays for Part B premiums for qualifying individuals. The income limit is from SLMB levels up to $1,449 a month when single and $1,960 a month for married couples.
MEDIGAP AND SUPPLEMENTAL INSURANCE PROFESSIONALS IN ARIZONA
Sometimes, it can be useful to speak with an independent Medicare insurance agent about your situation and needs. Our agents at Insurance Professionals of Arizona can answer your questions while helping you sort through the many options available.
Whether you want a Medicare Advantage Plan or a Medicare Supplement Plan, the agents at Insurance Professionals in Arizona will help you figure out which would be best for you. We specialize in helping our clients navigate the intricacies of Medicare programs.
Without question, Medicare is a confusing subject, with lots of exceptions and rules, but our agents are specialists and are equipped to help you understand.
At IPA we have access to hundreds of plans provided by dozens of different carriers and we want to customize your healthcare policy to meet your requirements while accommodating your budget.
