Original Medicare (Parts A & B)Part A is provided through the government Medicare Program and helps cover your hospital bills.
Part B helps cover your regular medical expenses and doctor bills.
Medicare Advantage (Part C)Part C is private Medicare insurance that helps cover both hospital and regular medical bills and is offered directly from approved insurance carriers.
Drug Plans (Part D)Part D is an additional insurance policy that you can add to your Medicare policy to cover the cost of your prescription drug medications.
Supplemental Plans (Medigap Insurance)Medigap Insurance, this is a policy that you get in addition to your Original Medicare policy and helps cover the costs that your regular Medicare coverage does not. Medicare Supplement plans cannot be added to Medicare Advantage plans.
Whether you’re reaching Medicare age and simply need to get educated about what you should expect under the Medicare program and the approximate costs, or whether you are currently on Original Medicare and are thinking about switching over to Medicare Advantage during the next Annual Enrollment Period (AEP) it’s important to do your research. Your health and budget are simply too important to be left with questions. We can instantly connect you with a licensed Medicare professional who can answer your questions, and at no point are you obligated to make any commitment.
Looking for information on Medicare in Texas? You’re in the right place. We want to help seniors looking for health insurance find the right coverage at every stage of life. For starters, you’ve got two basic options for Texas Medicare coverage: Original and Medicare Advantage.
If you choose Original Medicare, you can (and should) get a supplemental plan called Medigap or Medicare supplemental insurance. This will cover many of the out-of-pocket costs that Original doesn’t, like copays for Part B or the Part A hospital deductible.
Texas Medigap plans cover all of the same benefits as any other Medigap plan throughout the country. This is because Medicare supplement plans are standardized in every state but three (Massachusetts, Minnesota and Wisconsin). No matter where you buy a plan or the company you buy it from, Medigap plans of the same letter type will cover the same benefits. Cost and company are the only differences.
In 2020, all 10 standardized Medigap plans are available in Texas depending on where you live. Standard Medigap policies are A, B, C, D F, G, K, L, M and N. A high-deductible version of F may also be available. These plans are sold by private companies. Texas Medigap insurance companies include trusted names like UnitedHealthcare/AARP, Aetna, BlueCross BlueShield, Cigna, Colonial Penn, Humana, Mutual of Omaha and National General.
(Note: Plans C and F are not available to customers newly eligible for Medicare on or after January 1, 2020.)
You don’t have to stick with Original Medicare, but you might want to based on your own healthcare and budget needs. Original Medicare doesn’t have networks, meaning you can see any provider who takes Medicare. On the other hand, Original Medicare doesn’t have a cap on out-of-pocket spending, which means you’ll pay your portion of your bills for the year regardless of how high they climb.
That’s why getting a Medigap plan is such a good idea. Your extra monthly premium for a Texas Medigap plan could offset the costs you’d otherwise pay throughout the year. Just make sure you do the math carefully to see if it works for you.
If you want a different option for Medicare coverage in the Lone Star State, consider the private alternative to traditional Medicare: Medicare Advantage.
Medicare Advantage has become an increasingly popular alternative to Original Medicare over the last decade. Nationwide, about a third of everyone with Medicare has a private plan. It’s not hard to see why. With a complete package of benefits and coverage for things that Original doesn’t cover — like prescription drugs, hearing aids, dental, vision and more — Medicare Advantage makes sense for most budgets.
Texans seem to agree with the rest of the country on the value of Medicare Advantage. Since 2010, Texas Medicare Advantage enrollment has increased by 167% — from just over 500,000 people that year to about 1.4 million as of 2018.
Overall, about 36% of the 4.1 million Medicare members in Texas chose private over traditional in 2018. This bump in enrollment is partly thanks to the growing number of options from the nation’s top Medicare Advantage insurance companies.
In 2020, there are 231 Medicare Advantage plans available in Texas according to the Centers for Medicare and Medicaid Services. Availability depends on where you live, which is why getting a quote based on your zip code gives you the most accurate information. Carrier options include UnitedHealthcare/AARP, BlueCross BlueShield, Aetna, Humana, Mutual of Omaha, Molina and more.
Wondering about the average cost of a Medicare Advantage plan in Texas? Private plans cost an average of just $13.03 a month in 2020, and 100% of people eligible for Texas Medicare Advantage plans will have access to a plan that doesn’t have a premium at all.
Even with Original Medicare, costs can be high. Private plans exist to help you cover those costs. Whether you want the full bevy of benefits afforded by Medicare Advantage or a Medicare supplemental insurance plan to trim your out-of-pocket costs, you’ve got options when it comes to getting health insurance in Texas.
You’ll make a lot of decisions as you get older. And while we can’t help you with deciding on when to retire or how to spend your golden years, we can help you make a better choice about your health insurance. Whether you’re turning 65 soon or you already have coverage and want to look for something better, we’ve got you covered.