Medicare Supplemental Insurance and Moving For Retirement

If you are approaching retirement, are on Medicare, or soon will be eligible for Medicare and considering relocating for you retirement, there is something you should know. While the rules and regulations for original Medicare Part A and Part B are the same anywhere in the country - though the coverage is standardized, the rates for Medicare Supplemental Insurance Plans do vary from state to state.

Private insurance companies sell Medicare Supplemental Insurance plans. They were designed to fill in the gaps, or pay for healthcare services that original Medicare Part A or Part B does not. The plans recently received a make over in June 2010, and now provide more coverage and are more affordable than ever before.

But here is the thing, monthly premiums for Medicare supplemental insurance are different depending on the state you live in - so if you are planning on being a "snowbird" and spending at least six months in the warmth of the south and the rest of the year in Northeast, it would be a good idea to compare the premiums for Medigap insurance in the two states, and buy your supplemental Medicare plan from the one that is cheaper.  Remember the Plans A-N are standardized, in terms of the coverage they provide and services beyond Part A and Part B they will pay for - so the only difference is the cost!

However some insurance companies may require that you purchase your Medicare supplemental insurance in the state that is your "legal" residence, which is usually determined by where you have your drivers license or are registered to vote. So again if you live and have worked in New Jersey for example, and you have bought a retirement home in Florida to spend the cold winter months, keep your NJ drivers license and "residency" - so you can purchase your Medigap insurance policy in New Jersey where they tend to be less expensive them a Medicare supplemental insurance policy purchased in the Sunshine State.

On the Move

Also if you are relocating for retirement, either for part of the year or for permanent residency, and you have elected not to enroll in Medicare, because you are receiving health benefits from your former employer - make sure that those benefits will travel with you. Most likely if you are covered by any kind of traditional major medical health insurance policy, your benefits will be good no matter where you go. However, if your medical insurance is through a managed care plan that restricts you to a group or network of specific practitioners, it will not cover you out of state.

If you have opted to enroll in an HMO instead of Medicare and now are ready to move somewhere else, you will most likely have to disenroll in your HMO, and then enroll in original government Medicare, and then purchase the most cost effective Medicare supplement plan for you. You want to do all of this before you move so you have no lapse in coverage. If you liked the idea of a Medicare Advantage HMO, then once you are settled into your new state and get familiar with the doctors and the HMO affiliations in the area, and find one that you like - you can always switch.

But remember, that traditional government Medicare, with a Medical Supplemental Insurance plan, never requires referrals, and you can see any practitioner or healthcare provider you want for covered care - so it is really the ideal combination for those seniors who travel.

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