Medicare Supplement Insurance in Lincoln, Nebraska

Invisible gaps in insurance under Medicare Parts A and B are unfortunately commonplace. But what can be done about it? With seniors these days, these sorts of battles aren’t just for spare change. They can mean a serious difference in quality of life. As a resident of Nebraska, you face some uncommon eccentricities that most others may not when it comes to choosing the most cost-effective health care for you. But we have some information available that can help you make the best decision for your health and financial wellbeing. 

Senior Medicare in Lincoln: Facts and Figures

  • There are 35,925 senior citizens living in Lincoln right now
  • There 8 hospitals in the Lincoln area where seniors can get emergency and/or in-patient care 
  • 12% of Nebraska seniors have a Medicare Advantage plan 
  • 47% of seniors have a Medicare Supplement (Medigap) plan
  • Which leaves 41% of seniors potentially uninsured or underinsured against costly Medicare coverage gaps!

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 Lincoln)
Arthritis 19%
High Blood Pressure 24%
Coronary Heart Disease 5%
Diabetes 7%
Kidney Disease 2%

Healthcare Costs in Lincoln, NE

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 Lincoln) Annual Cost of Treatment
Arthritis 19% $294
High Blood Pressure 24% $356
Coronary Heart Disease 5% $9,209
Diabetes 7% $2,173
Kidney Disease 2% $8,529

Medicare Advantage Savings in Lincoln, NE

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.

Medicare Advantage can cover even more than Original Medicare Parts A and B. Doctor visits, testing equipment, and drug plans are options as well. Many plans allow the option to add vision or dental coverage for additional premium costs. Thanks to the government paying some or potentially all of the premium, seniors can get a fully comprehensive Medicare Advantage plan starting as low as $0 a month as their out-of-pocket premium cost. There will still be certain items that insurance doesn’t cover, like copays or coinsurance, which will be the responsibility of the plan holder.

Medicare Supplement (Medigap) Savings in Lincoln, NE

Medigap policies (additional Medicare supplement policies, which go by the nickname Medigap) have distinct differences from Medicare Advantage, but they can still save you plenty of money. This applies especially to the costly gaps in Medicare Part A. Hospital visits from coronary heart disease or kidney disease can end up totaling in the high five, low six digit range. And that’s just for a visit, not including all of the outpatient treatments you might need, or addition medications or services while you’re there. Long hospital stays aren’t covered by Medicare. Neither are sometimes life-saving blood transfusions. It is only sane to have some sort of coverage to protect you from having to pay these sorts of costs out of pocket.

Medigap Plans A, D, K, and L are the ones designed to cover the pricey costs for the lack of coverage in Medicare Part A. The other Medigap plans have Part A coverage as well, but include extras that we’ll touch on in a minute. If Medicare Part B costs aren’t something you need, you then shouldn’t feel the need to purchase them, thus saving you more in premium payments. If hospital stays from Part A is your concern, Plans A, D, K, and L are the ones you may wish to consider first.

The plans we previously referred to but didn’t discuss are Medigap Plans B, C, F, G, M, and N. These plans not only cover Medicare Part A gaps, but also Medicare Part B gaps. Of course, more comprehensive coverage leads to larger premiums every month, but lesser out-of-pocket costs when the time actually comes to use your policy. Also note that Plan F is being retired after the year 2020, and you will no longer be able to enroll in it after that year.

There are gaps in Medicare Part B as well to take into consideration. Part A is supposed to take care of hospital visits and inpatient care, and Part B should, in theory, take care of the rest. This isn’t always how things work, however. Copays and coinsurance remain the responsibility of the insured, as usual, and can add up to a considerable amount over time. There are a variety of different plans which can compensate for this so that patients like you don’t get overwhelmed with too many medical bills.

Medicare Supplement Insurance does not cover any prescriptions, dental, or vision care, unlike Medical Advantage. But Traditional Medicare does have Part D available, which is specifically for purchasing medical drugs. Part D is available for purchase for anyone eligible for Medicare, whether or not they have any other Medicare plan currently as their main coverage. Also available online are hundreds of alternative medical plans for dental or vision in the Lincoln area, which can be found through a simple Google search.

For Lincoln seniors, it is imperative that you 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.

Medigap Plan Minimum Monthly Premium Maximum Monthly Premium Average Estimated Monthly Premium (Part B Premium Included)
Plan A $77 $235 $292
Plan B $100 $268 $320
Plan C $114 $304 $345
Plan D $112 $218 $301
Plan F $109 $250 $315
Plan F (high deductible) $32 $76 $190
Plan G $94 $219 $292
Plan K $48 $105 $212
Plan L $79 $148 $249
Plan M $105 $178 $277
Plan N $76 $177 $262

Compare Medigap Plans Online

Comments are closed.