Texas Medicare Supplements - Retiree Insurance

When people are retiring and leaving their employer’s health insurance plan we get calls asking, “What are my Texas Medicare Supplement options, now that I will no longer have group health insurance?”

The best way to answer this is that you have numerous options to choose from but there are three common alternative when you are eligible for Medicare:

  1. Stay with Original Medicare Alone and a Part D Plan
  2. Choose a Texas Medicare Supplement and Part D Plan to go along with Original Medicare
  3. Choose a Medicare Advantage Plan that offers drug coverage.

The Top Three Texas Medicare Options

As mentioned above, staying with Original Medicare is definitely an option. Medicare will be your only health insurance coverage for both Hospital and Medical coverage. You will still need to get a Medicare Part D (Prescription Drug Plan). If you do not enroll in a Part D plan you will receive a 1% penalty per month that you are not enrolled in a plan. This penalty is based on the national average for Part D Plans.

Texas Medicare Supplement (Most Popular Option)

The second and most popular option in Texas for those coming off a group health plan is Original Medicare, Medicare Supplement Plan F and a Part D plan. A Medicare Supplement (Medigap Policy) fills in the gaps of Original Medicare leaving you most of the time without any deductibles, coinsurance or co-pays.

A Medicare Supplement does not limit you to which doctors/hospitals you can or cannot visit. As long as the doctor accepts Medicare you can go to them for your medical needs. However, a Medicare Advantage Plan limits you to which providers are a part of the network.

Since a Texas Medicare Supplement is the most popular option for retirees, below are some rates to show you how these plans compare. Typically, a 65 Female (non-tobacco) will pay roughly $125 -$130 per month for a Plan F Medicare Supplement.

Also know that a Plan F Medicare Supplement is the most comprehensive coverage offered. As of January 2013, the best rate with an "A" rated company was $125.70.

 Texas Medicare Supplement Rates - Medicare Insurance Finders

The last option is to choose a Medicare Advantage Plan that offers prescription drug coverage. These plans take over your Original Medicare (Parts A and B) and will pay the doctors/hospitals that you visit. Make sure to check the providers you are allowed to see with a Medicare Advantage Plan because this can be a shock if you do not verify prior to enrolling.

However, since most group health insurance plans are not as limited on their networks people are not used to being restricted on which doctor/hospital they can or cannot see. This is probably the top reason why most group retirees decide not to go with the Medicare Advantage Plans

 If you are interested in Texas Medicare Supplement Quotes click here! If you would like to speak with someone over the phone you can call 1-877-759-5760 more more information.