Which Humana Medicare Supplement Do You Need?

By James O'Neal

You have Medicare Part A and Part B, but your medical bills are still too much for you to handle.

If it’s at the point where you’re struggling to pay your bills each month, then it’s high time you consider a Humana Medicare supplement plan.

Here’s what Medicare supplement plans are, why you’ll want one, and how to choose the best one for you.

Should You Get A Humana Medicare Supplement Plan?

The first question to ask yourself before picking a humana medicare supplement plan is why you should choose one.

The reason you would consider a Humana Medicare supplement plan is because Medicare itself does not cover co-payments, coinsurance, or deductibles.

Medicare doesn’t cover all your medical costs, especially if you only have Part A or Part B.

In fact, Medicare Part A only covers hospital care, skilled nursing, hospice and some home health care. Although, Part A can be free depending on your Social Security work history.

Medicare Part B covers doctors’ visits, preventative care, outpatient care and hospitals, and some health care as well.

You may have heard of Medicare Part C or Medicare Advantage Plans. Private companies offer these plans, contracting with Medicare to provide benefits from Part A and Part B.

Some Medicare Advantage Plans offer Part D drug coverage.

The downside to these plans is they are stricter on the medical providers you can see.

Part D plans are solely to cover prescription drugs that you need to take.

You probably don’t need a supplemental plan if you’re dual eligible for Medicare and Medicaid. Having Medicare and full coverage Medicaid will likely cover all your health care costs.

However, people who are not eligible for both and only have Medicare Part A and Part B often find they need a supplement plan. This is where Humana Medicare supplement comes into play.

What to Choose?

When choosing a specific Humana Medicare supplement plan, consider your current health and your family’s medical history.

Your present health, along with your family’s medical history, determines what plan will suit your needs.

Medicare supplement plans are standardized. Plans with the same letters will cover the same benefits no matter the state you live in or company you choose.

There are only three exceptions to the standard policy, and those are the states of Massachusetts, Minnesota, and Wisconsin.

The plans are A, B, C, D, F, G, K, L, M, and N. Each plan varies in coverage to the others.

Humana offers 8 out of those 10 medicare supplemental plans,. This goes above and beyond what the government requires companies to do.

The plan with the most comprehensive coverage is plan F. With the most comprehensive coverage you’ll also have to pay a higher premium.

Plans with less coverage are cheaper. Sometimes, the cheap plan is the better option for individuals who are healthier. They won’t pay money for benefits they aren’t going to use.

It’s important to look for a plan that covers your medical costs now and in the future. Keep in mind that switching your plan or canceling it can be costly depending on the company.

Also, consider what plans are available in the state you live in. Your state might not have every plan available.

Now that you know more about supplement plans, it’s time to look at the prices.

Pricing

Understanding what coverage you’ll require is vital for this part. You don’t want to buy a plan with extensive coverage just because you think you’ll need it.

You’re going to get the best price if you sign up for a Humana Medicare supplement plan within six months after enrolling in Medicare Part B.

Those six months act as an open-enrollment period, and an insurer cannot refuse to sell you a policy or charge you more because of your health.

Another significant thing to note: the premiums of a plan may increase depending on the type of payment policy.

There are three types of policies: attained-age policies, issue-age policies, and community-rate policies.

  • Attained-age policies will increase the premium as you get older.
  • Issue-age policies increase the premium due to inflation.
  • Community-rated policies will have a set premium for everyone within your local area.

Looking for a supplemental plan with a community-rated policy is your best option. Even if the price go up, it won’t a significant increase.

What else should you look for when picking a humana medicare supplement plan?

Customer Service

When you find a supplemental plan that meets your coverage requirements and fits within your price range, look over customer reviews.

Also, talk to people you know. Friends and family can recommend companies they use, or steer you towards a better option.

A company that meets your requirements but has terrible customer service isn’t worth the trouble. Even if they are cheaper than other options, do you want to risk your health over bad service?

Good customer service makes it easier to understand and select your plan.

This will apply to agents you sell supplemental plans for those companies, as well.

When shopping around for supplemental plans, you can benefit from some tools and tips.

Helpful Tools & Tips

Try using a Medicare supplemental plan search tool. An online search tool will break down what each plan covers along with premium cost ranges and lists the companies that offer them in your area.

Medicare.gov has one such helpful online search tool available.

A helpful tip to keep in mind when looking for supplemental plans is to call an insurance agent. Agents can help you understand what plan is best suited for your needs.

Plus, you don’t have to worry about agents selling you a plan you don’t need. Agents can’t add commission fees to the price of a supplemental plan.

Got a Plan?

Researching which humana medicare supplement plan you need doesn’t have to be a time consuming or confusing process.

following this guide will help you find your perfect plan.

However, if you have more questions, feel free to contact us! We are always available to help.