Nevada Medicare Supplement

Senior citizens living in Nevada are fortunate to be where they are because of the multitude of elder care programs that the state has set up. There are government-led agencies dedicated to addressing almost all possible aspects of senior living, including aging and disability resources, elder protective services, long term care, tax and pharmacy assistance and more. A Senior Medicare Patrol also exists to assist beneficiaries and their families to better understand the Medicare system and to prevent and protect them against possible healthcare errors and fraud.

That said, for residents who are turning 65 years old soon, signing up for Medicare should be fairly easy. However, while this service already offers a robust range of benefits for Americans, it does not cover most of the possible health-related situations that you might encounter at this life stage. In come Medicare Supplements (also called Medigap) to help cover the “gaps” that the former could not shoulder.

There are 10 Medicare Supplement plans to choose from, depending on your current and project health requirements. Original Medicare is acquired directly from Social Security but Medigap policies can be purchased only through private companies. Pricing is expected to vary from insurer to insurer but the list of benefits will be the same, no matter where you are located. In this way, although the government is unable to finance support for certain health procedures, it can guarantee that seniors around the country have access to the same levels of care.

Senior Citizen Numbers In Nevada

Societal aging is one of the most important social trends today and this affects not just Nevada but the rest of the United States. According to researchers from the University of Nevada, Americans aged 65 years old and up will have exceeded 17% of the country’s total population by the year 2020. With the maturing of the so-called Baby Boomer generation, the government faces a new set of challenges, particularly in providing welfare and healthcare services to this large demographic.

The number of senior citizens in Nevada, for one, logged the second highest increase in the country from 1999 to 2009 at 47.9%. By the year 2030, seniors will have taken up 18.6% of the state’s population. Their distribution is also largely diverse in terms of socio-economic and marital status, housing and living arrangements, and health status.

There are two ways we can interpret these numbers: one is that businesses will be welcoming a rising demand for healthcare services and facilities that are geared toward senior citizens; on the other hand, the state might find it difficult to look for ways to also provide its share of the care for this growing demographic. Regardless, it highlights the importance of insurance programs to help lower related expenses. Medicare, Medicare Supplements and other similar insurance products can provide the peace of mind that seniors (and their families) need.

Medicare for Senior Citizens in Nevada

Medicare Supplements are available to Nevada seniors aged 65 years and who are also enrolled in both Original Medicare Part A and Part B. If you are enrolling for the first time, there are two important schedules that you should watch out for: Initial Enrollment Period (IEP) and Open Enrollment Period (OEP).

IEP is the seven months that happen before and after the month you turn 65 years old. This covers the 3 months before and the 3 months after your birthday month. If you are not auto-enrolled to Original Medicare, you have the option to sign up during the IEP period. However, if you miss this window, you will need to enrol during the General Enrollment Period (GEP), which runs from January 1 to March 31.

The Open Enrollment Period is linked to Medicare Supplements. It is a six-month window that begins on the first day of the month that you turn 65 years old. To illustrate, if you are turning 65 on December 5, then your OEP starts December 1 and ends six months after that. During OEP, your Medigap enrollment will be guaranteed approved and insurers will not require you to undergo any medical underwriting or charge higher monthly premiums for any reason. However, if you miss this schedule, insurers can deny your application, delay effectivity or charge you much higher than its standard premium rate.

Limitations to Medicare and Medigap

Medicare and Medicare Supplements still do not cover everything that a senior citizen might need in these crucial years, but having these is a lot better than not having any form of insurance at all. Neither products cover vision or dental care, long-term care (as in a nursing home), hearing aids, private-duty nursing, and prescription eyeglasses, so if you want to have these, you will need to purchase a separate policy – or you can talk to your preferred insurer to add them to your current product as an extra, paid service.

Some insurers in Nevada offer a lower price for non-smokers, spouses, female buyers, or groups. If you purchase independent policies other than Medigap, the provider might also provide a discount.

How Much Nevada Medicare Supplements Cost

Nevada logs the second highest average in terms of Medigap premiums, at $158.66 per month or $1,904 per year. The highest average of $162.25 is recorded for Massachusetts, although this state has a unique Medigap structure unlike others. Hawaii has the lowest average at $109.16 per month.

The actual price of your Medigap plan will depend on the type of policy and the insurance company selling it. While the government requires that all Medicare Supplements have the same benefits across the country, regardless of the seller, the companies are allowed to set their own premium rates. Thus, it is important that you compare policy providers first or seek the help of a qualified Medigap advisor to determine what options are best for you.

Another thing you should know about Medigap is that starting January 1, 2020, plans that offer Part B deductible will no longer be available to new enrollees. This means that Plans C and F will no longer be sold. However, if you already have these, then you may continue to use them and enjoy the old benefits. The new guidelines apply to all Medigap plans across the country.

Trying to make sense of the rules surrounding Medicare Supplement plans can be overwhelming, particularly to new enrollees or if it’s your first time switching plans. Our expert team of licensed Medigap advisers in Nevada will be happy to guide you through the entire process and answer any questions you might have. Contact us at 1-800-791-0150.