When searching for Medicare Advantage plans, there are many who have preferred to avail Plan K. Citizens often search for a policy that comes with lower premium, as being elderly and retired, they cannot afford higher premium rates. Moreover, such people might not incur plenty of medical expenses regularly. Plan K does come with some benefit coverage and is just perfect to meet the specific requirements of such people. This plan does pay some percentage of medical expenses that are Medicare approved, however, not all.
Be it Plan K or any other Medigap policy, it will be wise to get one for self and spouse. Medicare covers just 80% of all approved medical costs. The remaining 20% that is left out is to be borne by the policy holder. This is where the person needs to look at the different Medicare Advantage plans to plug in this gap and save thousands of dollars that otherwise has to be paid in the form of out-of-pocket expenses. On getting enrolled with Part A & B Medicare, the person becomes eligible to apply for Medigap policy. Applying during the 6 month open enrollment period does allow the person to avoid medical underwriting. But it is not mandatory that the person needs to get enrolled during this time only. Open enrolment period in the US begins the first day the person gets enrolled with Medicare. It lasts for about 6 months.
Be it that the person is searching for affordable Medicare Advantage plans in Texas or probably in another state, there is a need to understand that all types of Medigap plans are made standardized. The benefits offered by different companies on any plan including K are the same, but the premium amount differs, depending upon brand. Premium standards are often based upon certain questions asked to the policy seeker like:
- Residence zip code
- Any major health problems suffered at any point of time in life
- Any tobacco products currently or previously used.
Quotes of Medicare Advantage plans will depend upon the questions answered. Shopping can become interesting if the different plans and providers are compared upon, so as to derive the very best deal that will fit the needs perfectly. It will be always wise to buy plans only from reputed providers who have earned reputation and trust from their policy holders for excellent customer service.