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Medicare supplemental insurance
We bring together the most comprehensive insurance information, as well
as the most accurate price quotes on senior Medicare supplemental
insurance provider policies, and insurance policies of all kinds. In
today’s world, you can never be too safe, and the right insurance
policy affords you the security and peace of mind that you need to live
a happier, healthier life. It’s a good policy to find your policy with
us.
There are quite a number of insurance provider weaknesses in the
Medicare program that have a lopsided financial impact on the sickest
beneficiaries, who are also likely to have low incomes. HMO members
paid nearly 50 percent more in out-of-pocket costs for their Medicare
supplemental insurance in 2001 than they did in 1999, according to two
new studies, and the sickest of them paid even more. The sickest
enrollees spent 62 percent more of their own money for their health
care in the three-year period, according to The Commonwealth Fund, a
private foundation that supports independent research on health and
social issues. Senior medicare supplemental insurance holders in poor
health spent about three times as much each year as those in good
health — $3,578 vs. $1,195 annually.
Prescription drugs are driving out-of-pocket increases for those
Medicare supplemental insurance members in poor health. According to
the studies, senior Medicare HMO members in poor health spent an
average of $2,088 of their own money for prescription drugs in 2001, a
56 percent increase from 1999. In comparison, those in good health
spent an average of $158 in 2001, a 47 percent increase from 1999.
Despite these increases in out-of-pocket costs, the authors say
insurance providers who specialize in senior Medicare supplemental
insurance plans are still a good value for beneficiaries when compared
with Medigap supplemental insurance. Previous studies of costs for
beneficiaries in traditional fee-for-service Medicare have estimated
that average out-of-pocket costs were $3,142 annually.
Senior medicare supplemental insurance provider programs are under
great strain as market forces continue to pressure health plans to
increase premiums and reduce benefits, particularly because traditional
fee-for-service Medicare does not cover prescription drugs. According
to the insurance provider statistics, average monthly premiums for
Medicare HMOs went from $14.43 in 2000 to $22.94 in 2001, and the
proportion of enrollees with prescription drug coverage fell from 78
percent in 2000 to 70 percent in 2001. Adding to the Medicare debate
is the fact that increasingly more Medicare HMOs are dropping out of
the market, leaving their over-60 beneficiaries scrambling for senior
Medicare supplemental insurance. More than 500,000 elderly and disabled
Americans lost their Medicare HMO plans in 2001. These seniors had to
decide whether to take a chance on a new HMO that could very well drop
them this year, or go back to traditional senior Medicare supplemental
insurance without prescription drug benefits.
Most policies for senior Medicare supplemental insurance are actually packages
of different coverage. This coverage can vary from state to state and
patient to patient. No two insurance policies are the same, and our
database is designed to help you find the exact policy that’s right
for you. Now that you’ve had a chance to look around, decision time
is here. Make sure you choose a senior insurance provider and policy
that provides you with all of the coverage you require. Life is too
precious to proceed without the full range of coverage to ensure a prosperous
survival.
Click here for a Free
Insurance Rate Quote.
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