Researching your Cost Plan Replacement Options.
If you are one of the almost 200,000 members of a Medicare Cost Plan in Minnesota next year, now may be the best time to start researching what replacement Medicare plan will work in your favor for 2019.
The Medicare Cost Plans that will disappear next year are managed by either Blue Cross & Blue Shield of Minnesota, Health Partners or Medica. As of this writing the plan choices that could possibly replace your Cost Plan for next year are still unknown. You should be aware that your current insurance carrier could automatically enroll you in one of their Medicare Advantage Plans without giving you the opportunity to research other plan types and benefits. Medicare Advantage plans offered to those Cost Plan members may not be in their best interest as they all have different benefits and costs associated with each plan.
Knowing the difference between Supplement and Advantage
It’s important that you know the benefits of a replacement Medicare Advantage Plan or a Medicare Supplement Insurance plan aka Medigap, when you have to make the change this Annual Enrollment Period. Beginning October 15th of this year many Minnesotan Medicare Cost Plan beneficiaries will be faced with the task of replacing their Medicare coverage. Your new plan benefits would begin January 1, 2019. Now is the time to become familiar with the vast array of Medicare insurance plans that will be available to you. At Medigap Select we can walk you through all the plan benefits and costs, making your choice and helping you enroll will be easy.
Minnesota Medigap Plans are different than other States
There are three States that do things a little differently when it comes to Medicare Supplement Insurance plans (Medigap). Minnesota, Wisconsin and Massachusetts have adopted their own benefit structures and if you are thinking of supplementing your original Medicare next year because your Cost Plan is ending in Minnesota, it’s important to have an understanding of the two Minnesota Standardized Medigap Plans.
Minnesota Basic Medicare Supplement Plan
Minnesota Extended Basic Medicare Supplement Plan