Louisiana Medicare Supplement Plans
Louisiana is one of the major states in the United States because of its population, logged at 4.68 million as of 2019. Its rapid growth is manifested by a 0.27% annual increase and, according to the U.S. Census, it ranks 27th in the country. It also the 31st largest location in terms of land mass, with a population density of 105 people for every square mile of land. Among its major cities, New Orleans is the largest in terms of population with an estimated 1.28 million in 2016, or a density of almost 2,000 per square mile. Given this statistic, Louisiana is considered the most densely populated state in the country.
Medicare Supplements (Medigap) were created by the federal government as a way for it to ensure that all retirees have access to the healthcare products and services they need in their old age. Because the Medicare program simply cannot shoulder all of the costs of senior healthcare, Medigap plans are the next best thing to ensuring that services are available—but without draining the elderly’s income. It is one of the most stable and tested methods of providing senior care services in ways that they can cope with. Medigap plans are, thus, offered with varying premium fees so enrollees can choose which benefits they need and how much they are able to pay per month.
Senior Citizen Population in Louisiana
The number of individuals per area means that the availability of government and private agencies providing healthcare products and services is key. Figures from the Kaiser Family Foundation reveal that Louisiana has a total of 867,826 Medicare beneficiaries as of 2018. Of this number, 572,878 are in Original Medicare and some 295,000 are enrolled in Medicare Advantage.
According to the U.S. Census Bureau, 24.9% of the state’s population is made up of persons 65 years and older, and there are nearly 600,000 households with residents over 60 years old. Compared to other states, Louisiana has a relatively low population density in terms of senior inhabitants. This is probably why it has one of the most expensive Medigap rates in the U.S., in addition to its high cost of living.
Cost of Louisiana Medicare Supplement
Health rankings reveal that 13% of seniors live in households at or below 100% of the poverty threshold. Still, this does not stop its Medicare Supplement insurance providers from listing one of the highest fees in the country. In fact, as of 2018, the average monthly cost of Medigap plans in Louisiana is $158.08, or $1,897 per year. The state ranks among the top three U.S. states with the most expensive average plans, with Massachusetts and Nevada topping the list at $162.25/month and $158.66/month, respectively. The lowest average Medigap price logs Hawaii ($109.16/month).
Take note that these are merely averages, and the prices can go lower or much higher depending on the type of Medigap plan you avail and the insurance provider selling it. While Medigap plans are standardized according to government rules, their pricing is a different story. Sellers are allowed to determine rates for Medicare Supplement plans, as they see fit; with some selling the exact same mix of benefits and others tacking on additional services for higher premiums.
Applying For Louisiana Medicare Supplement
Louisiana residents can only sign up for Medigap plans if they are at least 65 years old and are already enrolled in both Medicare Part A and Part B. Medigap, while sold by private insurers, is not a standalone product.
The best time to apply in Louisiana is during your six-month Open Enrollment period. This starts on the first day of the month that you turn 65 years. Thus, if you are celebrating your 65th birthday on September 15, then your Open Enrollment period starts in September 1. During this period, you can apply for any Medigap policy of your choosing and insurance providers will not subject you to any medical underwriting or charge higher premium fees due to a past or present health condition. If you miss this window, you risk having your application denied or charged with a higher fee.
What Medicare Supplements Do and Do Not Cover
Like the plans offered in other states, Louisiana Medigap plans cover the following:
– Medicare Part A coinsurance and hospital expenses (up to an extra 365 after Medicare benefits are used)
– Medicare Part B coinsurance or copayment
– Blood (first 3 pints)
– Part A hospice care coinsurance or copayment
– Skilled nursing facility care coinsurance
– Part A deductible
– Part B deductible
– Part B excess charges
– Foreign travel emergency costs (up to plan limits)
However, Louisiana Medicare Supplements do not cover:
– Vision or dental care
– Long-term care (as in a nursing home)
– Hearing aids
– Private-duty nursing
– Eyeglasses
If you need coverage for these services and products, seniors will need to purchase a separate policy from a preferred insurance provider.
Important Notes About Louisiana Medigap Plans
Starting January 1, 2020, Medigap plans will no longer include the Part B deductible in their list of benefits. This means that Plan C and Plan F will not be offered to new Medicare enrollees anymore. However, if you already are enrolled in these plans, you may continue to use them. Also, if you were eligible for Medicare before January 1, 2020 but haven’t enrolled yet, you may also purchase them.
Take note that not all 10 Medigap policies are available with insurers. This is because private companies can legally be selective in their offerings, with some conditions. For example, all of them are required to offer Plan A; and if they offer any other policy, they should have either Plan C or Plan F on their list for old members and either Plan D or Plan G for new members. Thus, it is recommended that you should around for which insurers provide Medigap plans in Louisiana and compare their benefits and pricing plans. Private companies also typically increase their premium fees annually, so be sure to be clear on this policy before you sign up.
If you need more help in choosing the right Medicare Supplement plan for you in Louisiana, our team of experienced and licensed Medigap advisers will be happy to help. We can assist with all Medigap related queries and guide you through the entire selection process, as well. Contact us at 1- 1-800-791-0150.
