Medicare Supplement Insurance in East Honolulu, Hawaii

Did you know that lately, retirees are finding themselves buried in debt due to uncovered gaps in their Medicare Parts A and B? It’s sadly not much of a shock. Anywhere you are, it is immensely difficult for seniors to have a fully comprehensive plan offered for a premium that is doable on what’s usually a fixed income. Fortunately, this is where gap insurance comes into play and can help save the day, and hopefully some lives.

Senior Medicare in East Honolulu: Facts and Figures

  • There are 12,079 senior citizens living in East Honolulu right now
  • There is 1 hospital in the East Honolulu area where seniors can get emergency and/or in-patient care; the remaining 9 facilities are retirement homes
  • 45% of HI seniors have a Medicare Advantage plan 
  • 2% of seniors have a Medicare Supplement (Medigap) plan
  • Which leaves 53% of seniors potentially uninsured or underinsured against costly Medicare coverage gaps!

It is a sad truth that chronic ailments become more pervasive with age. It is simply what happens as the human body begins to cease functioning as well as it once did. Usually, these are the diseases which we carry for the rest of our lives, as well as the costs associated with them. As if that wasn’t difficult enough to handle, it is not just possible but likely that we may have more than one disease at a time. This could lead to outlandish medical expenses that could cripple even the most financially sound senior, if they are under- or uninsured. The chart below details the common chronic diseases among seniors.

Disease Prevalence (in East Honolulu)
Arthritis 23%
High Blood Pressure 29%
Coronary Heart Disease 6%
Diabetes 9%
Kidney Disease 2%

Healthcare Costs in East Honolulu, HI

We cannot look at prevalence alone without considering the cost factor of these diseases. Prescriptions, medical equipment, hospital time, at-home care, and scheduled check-ups all have a cost which culminate eventually. Medical costs continue to rise every single year, and seniors are living longer lives now more than ever. When considering these facts, the potential cost can get chillingly pricey, and fast. It is vital that you have the right health coverage going into the final stage of life if you want to protect your investments, yourself, and your future.

Disease Prevalence (in East Honolulu) Annual Cost of Treatment
Arthritis 23% $294
High Blood Pressure 29% $356
Coronary Heart Disease 6% $8,452
Diabetes 9% $2,173
Kidney Disease 2% $8,206

Medicare Advantage Savings in East Honolulu, HI

There are some private insurance plans which are approved by the government, and yet not government provided, that are specifically for seniors who are currently enrolled in Medicare. Insurance costs aren’t paid directly by the government, but rather redirected to Medicare Advantage. The government pays their portion of the monthly premium, and the patient pays the rest. In many cases, Medicare Advantage plans are available starting at $0 a month. These plans are required legally to offer at least the same as Original Medicare Part A and B. The majority of insurers offering these sorts of plans also have dental and vision coverages available as well.

Seniors in general say they feel the coverage is better under the Medicare Advantage plans than under Traditional Medicare. It is the nature of chronic diseases to require on-going management, whether for sustained treatment or simply to stave off symptoms and improve quality of life. Over time, conditions worsen and costs continue to increase, leaving patients worse off than ever. Medicare Advantage plans can be far more comprehensive than the coverage offered by Medicare alone, even with options like Part D.

Not only do Medicare Advantage plans cover as much as Medicare Parts A and B; they can potentially cover even more. This can be doctor visits, various equipment, a prescription plan, or a combination of the three, plus more for most Medicare Advantage policies. Also, most plans come with the option to add dental or vision coverage to the policy you select. The government in turn subsidizes your monthly premium, allowing you to get a deep discount on Medicare Advantage plans. There is even the potential for a payment of $0 a month. Copays and coinsurance will still be patient expenses, and out-of-pocket costs will apply for the few items that your insurance does not cover.

Medicare Supplement (Medigap) Savings in East Honolulu, HI

Additional Medicare gap coverage policies are Medicare Supplement Insurance policies, or Medigap policies. They work a bit differently than Medicare Advantage plans, but can still save a good amount of money, particularly with gaps in Medicare Part A. Severe chronic conditions can cost five digits and up for a single treatment or incident. At a given point, Medicare stops their coverage, and the patient is responsible for the rest. These bills can be huge, and make an already difficult diagnosis and treatment that much harder.

Right now, there are four plans designed to cover the gaps in Part A of Medicare. These plans are A, D, K, and L. They are designed to save you money, while keeping you protected. Other plans offer covered gaps in Part A as well as Part B, but more on that below. If you don’t expect Medicare Part B to have extraneous costs and are more concerned about hospital says and associated expenses, you should know that Medigap policies which cover only Part A gaps are less expensive than others. The lower monthly cost could save even more money over time.

Medigap plans B, C, F, G, M, and N, cover gaps in Medicare Part A as well as select aspects of gaps in Medicare Part B. The more in-depth coverage your plan offers, the higher your monthly premium will be. However, this also means fewer out-of-pocket expenses and unexpected financial hits. Take note, Plan F is retiring soon, and will not be available for enrollment after the year 2020.

Medicare part B plans are supposed to take care of aspects that Part A does not, namely outpatient procedures, General Practitioner and Specialist visits, and some select pieces of medical equipment. Co-pays, coinsurance, and premiums for Original Medicare part B can be difficult, however. There are many options to reduce this cost and help from the expenses getting overwhelming.

Medicare Supplement Insurance does not provide for Rx drugs, dental, or vision, unlike Medicare Advantage. However, Original Medicare does allow seniors to choose a Part D, which provides for prescription drugs and the associated costs. This is offered whether or not you choose a Medicare Supplement Insurance plan. With a little research, it is easy to find affordable dental and vision plans for seniors in your area. Discounts for the elderly are especially available in most locations.

For East Honolulu seniors, it is imperative that they have the proper amount of health coverage, and at an affordable price for all. It protects you, your savings, and your family from any additional and unnecessary hardship or financial burden. Our health and rising costs to cover it are factors beyond any one person’s control. However, we can control how we prepare for the future. A Medicare coverage gap policy is the best way to do that, and we want to help you find the best policy for tomorrow’s needs, today.

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