Expatriate medical insurance and overseas travel insurance for those with U.S. Medicare– Part 3.  This is the last part of our three-part series discussing U.S. Medicare and international medical travel and expatriate medical insurance. 

For those who are expatriates / expats (for us at Good Neighbor Insurance we call expats who live outside their native / country of citizenship for at least 12 months or longer) it is vital to have some form of international medical insurance.  Over the last 20 years in business we have found the best international medical insurance that includes medical evacuation coverage which you may view here at https://www.gninsurance.com/long-term-international-health-insurance.  Our top three most popular international medical insurance options that our clients appreciate are ( in no particular order)  –

• the GMMI plan at https://www.gninsurance.com/gmmi-career-long-term-insurance-plans,
• the Navigator at https://www.gninsurance.com/health/missionary/geoblue-navigator/#navigator,
• and the Signature insurance options at https://www.gninsurance.com/wea-signature.

For those going on vacation outside your home country, where you are residing, or traveling for under 12 months we at Good Neighbor Insurance suggest travel medical insurance.  All of our travel medical insurance options here at https://www.gninsurance.com/international-travel-health-insurance-plans. 

All of our travel medical insurance provides medical evacuation benefits with most from 250,000USD all the way up to 500,000USD.  By far, medical evacuation is one of the most important travel insurance benefits you and I need and want when we are overseas. 

And what is quite interesting, travel insurance cost on average in USD 1.00 to 2.00 per day depending on age and overseas medical benefits requested.

Now let’s finish up our series on U.S. Medicare. Happy reading!

 

Let’s continue in this three-part series, this being part 3 and last of this series:

(1) Provide the best expatriate web page at  https://www.gninsurance.com/long-term-international-health-insurance with many different overseas medical insurance options for those residing outside the U.S. for over 12 months, and…

(2) Provide the best travel medical insurance at  https://www.gninsurance.com/international-travel-health-insurance-plans web page with many different travel insurance options for those traveling up to 12 months outside the U.S., and lastly…

(3) Explain key components of U.S. Medicare for you.

U.S. Medicare may seem like a “maze” but rest assured it isn’t. 
Good Neighbor Insurance has provided overseas medical insurance to those living and travel outside their country of citizenship/residence since 1997.  Over the years we have received (and answered!) a lot of great questions about U.S. Medicare from our American clients abroad. 

 

We have compiled the following information for our clients who are turning 65 in the next few months so that they can begin to think about decisions they (and you) may need to make soon, within 30 days either before, or after, your 65^th birthday. 

Five things to keep in mind as we go through this U.S. Medicare series with you, our client:

• All information below is the latest that we have, and is to the best of our knowledge – It is not “the final word.”
• Two places that have the final word on U.S. Medicare:
  1. The U.S. government has done a fabulous job in making medicare.gov an “easy read” as well as an up-to-date information source for all of your U.S. Medicare questions. We are very pleased and proud to say that their web site is very good! You can find great information that will be relevant to your questions when it comes to U.S. Medicare. 
  2. Since Medicare Part C MA (Medicare Advantage) is regulated primarily through each state in the USA, we highly recommend that you connect with a local agent in the State you usually reside in when in the USA, to get the most up-to-date information on Medicare, especially when it comes to Medicare Part C MA.
• All information in this series is the most up-to-date information we have at the time of this writing which was January 2018.
• Good Neighbor Insurance is not an authority on U.S. Medicare programs. Our goal is to provide you the best information we have.  A good place to verify, as shared above, is medicare.gov.  Also verify any questions/answers with a local authorized agent (who provides Medicare coverage options) in your own state. 
• Medicare benefits do NOT cover you outside of the USA.
  1. Yes, there is one little (and I mean little) part of Medicare Part C Medicare Gap / Medicare Supplement that covers you depending on the plan you choose. [As of this writing, the amount covered for medical care overseas is $50,000 but you will have to pay 20 percent of that in coinsurance with a deductible. Example: Out of a $80,000 l you will have to pay $10,000 plus deductible on $50,000 of that amount, plus you will be responsible for the $30,000 in additional expense.  This is why we say that Medicare does not cover you outside the U.S. 
  2. We strongly advise choosing a long-term expatriate medical insurance plan at https://www.gninsurance.com/long-term-international-health-insurance or a travel medical insurance plan for travel under one year from https://www.gninsurance.com/international-travel-health-insurance-plans. You may want to consider a plan with coverage for pre-existing conditions. Call us at 480-813-9100 with any questions on the best coverage to fit your specific needs.
  3. Medicare does NOT include any medical evacuation benefits. This is one of the key reasons of having expatriate insurance or a travel medical insurance plan.  Medical evacuation, also called medical transportation, is a vital overseas medical insurance benefit included in all of Good Neighbor Insurance policies.  Please note that Good Neighbor Insurance is an international brokerage firm that provides many different international insurance options from many international medical insurance companies.
  4. Lastly, this three-part series will discuss U.S. Medicare information. Some may have retirement medical insurance from a state, or other type of grandfathered medical insurance program.  This series will not address those types of coverage.  (If you have that coverage you will probably know it.  Those coverages are very few and thus most Americans, or those who have put monies into the U.S. Medicare system will have standard U.S. Medicare options.)

Like always, our licensed international agents are here to serve you.  Please feel free and call us at 480-633-9500 here in Phoenix Metro, Arizona or email us at info@gninsurance.com. 

 

• Medicare Part D
  • Rx outside of the hospital.
  • Around 15 – 20 plans per State
  • Premiums are around $ 30– $75 (2017 premiums)
  • Best to get Part D where one usually gets Rx, like Walgreens.  Why?  Because 60 percent of all Rx must be covered through the U.S. but the other 40 percent can vary with Rx options.   If one takes 5 meds then maybe not all of them will be on one Rx.  Thus, go where you get your Rx usually and they should have a Part D option for you.
  • Part D is not best purchased from an insurance agent.  Best at the place one gets Rx.
  • If one does not get Part D at the start of Part A (one turns 65) that is fine.  However, the government has a penalty for you if you do not get Part D right away.  The penalty is 1 percent extra of current premium for each month you do not get part D.  For example, if one did not have the Part D for 5 years (72 months) then the premium at that time with 72 percent increase is what your premium for Part D per month will be.
  • Learning Tip – If the insured’s Medicare Advantage Plan (Part C) includes prescription drug coverage and he or she joins a Medicare Prescription Drug Plan (Part D), the insured will be disenrolled from the Medicare Advantage Plan and returned to Original Medicare.  Adding Part D to your Part C MA plan is also called bundling.   However, when you bundle Part D to Part C MA and you cancel the former or latter you will cancel both.  Canceling one will cancel the other when you bundle Part C MA and Part D together.
  • Learning Tip – Part C Medicare Supplement / Medicare Gap plans do not have Part D bundle option(s). 

 

• MEDICAID
  • We get a lot of questions relating to Medicaid. We want to make sure that you realize that Medicare and Medicaid are two different systems / programs of medical insurance. Medicaid is a combination of state and federal program which provides assistance to individuals who have a demonstrated financial need and are therefore unable to pay their medical expenses.
  • Learning tips –

• • • Eligibility Requirements for Medicaid include the following. The individual must meet at least one of the following requirements:
      • 65 years of age or older
      • Blind or disabled
      • Receiving Aid to Families with Dependent Children
      • Earning 133% or less of the Federal Poverty Level
      • Medically needy or medically indigent refugee in this country 18 months or less
      • Pregnant women
      • Individuals in skilled nursing or intermediate care facilities
      • Children under age 21 in foster care
      • Individuals needing dialysis

• Since Medicaid is a state-run program, an individual who is seeking to apply for Medicaid will need to contact his or her state medical assistance office. Phone numbers for state medical assistance offices are available from the Centers for Medicare and Medicaid Services by calling 1-800-633-4227.

 

• Social Security Benefits
  • We also get questions relating to social security benefits and if these social security benefits are provided at the time of Medicare.
  • What are social security benefits? Social Security is a U.S. Federal Government program that provides supplemental income to individuals who have retired, individuals who are disabled, the survivors of workers who have died and the dependents of people receiving Social Security benefits.
  • Learning Tips –
    • Here is great information (2018 based information)
      • If the individual continues to work but begins drawing benefits before full retirement age, the benefit amount is reduced by $1 for each $2 in earning the individual received above the annual limit (2013: $15,120). If the year that the individual achieves full retirement age the benefit amount is reduced by $1 for every $3 the individual earns over a different annual limit (2013: $40,080) up until the month when the individual attains full retirement age.
    • Full retirement age is dependent on the year in which you were born.
      • Individuals born between 1943 and 1954: 66
      • Individuals born in 1955: 66 and 2 months
      • Individuals born in 1956: 66 and 4 months
      • Individuals born in 1957: 66 and 6 months
      • Individuals born in 1958: 66 and 8 months
      • Individuals born in 1959: 66 and 10 months
      • Individuals born in 1960 or after: 67

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www.gninsurance.com is the corporate website of Good Neighbor Insurance. Good Neighbor Insurance has been in business since 1997! Every one of our international trained and licensed insurance agents has a heart to serve you, our guests.  It is a joy to know that we can provide you all with peace of mind with one of our many overseas medical insurance options to safe guard from financial calamity as well as providing you the best medical care while on your short-term travels or long-term expatriate travels.  To connect with Good Neighbor Insurance, please email us at info@gninsurance.com or call us here in our Gilbert, Arizona office at 480-633-9500 or toll free at 866-636-9100.