I love living in West Virginia! West Virginia is the home state of Medicare Pathways, Inc. We commonly get asked about West Virginia Medicare Supplement Plans. Before I get into that, here are a few fun facts about our lovely state.
- West Virginia was the 35th state entered into the union on June 20, 1863.
- The capital of West Virginia is Charleston
- The state motto is “Montani semper liberi” which means “Mountaineers are always free”
- West Virginia’s state colors are blue and gold
- The West Virginia state flower is the rhododendron
- The West Virginia state tree is the sugar maple
- West Virginia’s the state bird is the cardinal, and the Black Bear is the state animal
- The size of West Virginia is 24,077 square miles
- There are 9 state forests and 37 state parks in the state
- Coal Mining is West Virginia’s leading industry
- The other leading industries include glass, chemicals, primary metals and lumber
Why are Medicare Supplement Plans important to WV?
The population for West Virginia in 2012 was estimated to be 1,855,413. Of that it was estimated that 16.2% of the population was over 65 years of age. Turning 65 is usually considered Medicare age and the age to get a West Virginia Medicare Supplement Plan. Here in West Virginia we have a high population of folks over age 65. That is probably why we get asked about West Virginia Medicare Supplement Plans quite often.
How does a West Virginia Medicare Supplement Plan work with Medicare?
Let’s take a look at how Medicare works and then how a West Virginia Medicare Supplement Plans works with it. It can be easy to get confused about your options when choosing the right health coverage at that time.
Medicare Part A
Medicare Part A is the Hospital portion of your health insurance coverage. Generally if you are a United States citizen and have worked for at least 10 years or 40 quarters you get that for a zero dollar premium. If you don’t meet those guidelines then you will have to pay a premium for Medicare Part A.
Medicare Part A covers hospital care, skilled nursing facility care, hospice care and home health services. The deductible for Medicare Part A is $1,184 per year in 2013. In addition to the deductible, there are co-payments and co-insurance that you will be responsible for.
Medicare Part B
Medicare Part B is the medical portion of your health insurance coverage. In 2013 most people pay $104.90 per month for Medicare Part B. The premium is based on income so it could be higher than $104.90 per month. In 2013 the deductible for Medicare Part B is $147.00 per year. Some people automatically get part B but if you don’t sign up for part B when you are first eligible then you can have a penalty that you have to pay. In addition to the deductible with Medicare Part B you are also responsible for coinsurance and copayments. This is called Original Medicare.
How does a West Virginia Medicare Supplement Plan help cover my medical cost?
The fact that the government gives everybody the option to have Original Medicare is a real benefit. However, Original Medicare leaves a lot of gaps in coverage. You can fill the gaps with a WV Medicare Supplement Insurance (also called Medigap) policy. These are policies that you can purchase from individual insurance companies to help cover the deductibles, coinsurance and copayments left by Original Medicare. To purchase a Medigap policy you have to have both Medicare parts A and B. In addition to your premiums for Medicare parts A and B you will have a monthly premium for the Medigap policy. That premium is paid directly to the private insurance company that you purchase your plan from. As with Original Medicare, Medigap policies are individual to each Medicare beneficiary.
WV Medicare Supplements are Standardized
Something that is very important to know when purchasing a Medigap plan is that they are standardized. This means that all Medicare Supplements of the same letter (like Plan F) have to offer the same basic benefits. They cannot be different. The only difference is the amount you pay in premium. This is a very good reason to review your policy each year. You should shop around and make sure you are still getting the most affordable price on your Medicare Supplement. Click here to check your rate now!
Are there Medicare Advantage Plans in West Virginia?
If you need a more cost affordable plan instead of a Medicare Supplement Plan there is another type of plan called a Medicare Advantage Plan. They are purchased from private insurance companies. These plans are service area specific and are available in West Virginia. With a Medicare Advantage plan you have several different options to pick from. You have to have both Medicare parts A and B to purchase a Medicare Advantage plan. In addition to any premiums that you have for the Medicare Advantage plan you still have to pay your Medicare premiums.
For more information and a quote on Medicare Supplements, Medicare Advantage Plans, Dental Vision and Hearing Plans or Medicare Prescription Drug Plans please click here or call Medicare Pathways at 1-866-466-9118.
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Medicare Pathways, Inc. 1-866-466-9118