What Is the Tennessee Plan for Medicare Supplemental Policies?
When you retire, you are faced with some important personal decisions. That is why the State of Tennessee and POMCO are working together to make one of those decisions (Medicare supplemental healthcare) easier for you. As a retiree, you may be eligible for The Tennessee Plan. This Plan is designed specifically for retired state employees, teachers and local government employees and their eligible spouses and dependents. The Tennessee Plan Can Help Fill the Medicare Coverage Gap If you have Medicare coverage, you likely need The Tennessee Plan to help cover some of the expenses that Medicare does not. The Tennessee Plan helps fill most of the coverage gaps that Medicare creates.
If you are eligible, you can enroll in The Tennessee Plan coverage, commonly known as Medigap Coverage. The Tennessee Plan is a standard Medicare supplemental policy designed to fill in the coverage gaps in your Medicare Part A & B coverage.
What Kind of Gaps Do Medicare Parts A & B Have?
In 2010, some of the charges Medicare requires you to pay include the following:
• A $1,100 deductible out of your own pocket each time you are hospitalized.
• Then $275 a day for the 61st to the 90th day in the hospital and $550 a day thereafter up to a 60 day lifetime reserve maximum. Plus a $155 deductible for approved doctors’ bills and outpatient expenses and then you must pay an additional 20% of the Medicare approved charges after that.
You may be responsible for any amount over the Medicare approved charges from providers who do not accept Medicare assignment. Even with Medicare coverage, your out- of-pocket expenses can add up fast and cause financial difficulty. Coverage under The Tennessee Plan can help fill some of these gaps. There are 10 standard approved (by federal law) Medicare supplemental policies that can be offered. The Tennessee Plan offers benefits comparable to the Medicare Supplemental Standard Plan D.
Who is Eligible to Enroll?
Any retired State of Tennessee employee or Local Education certified teaching staff receiving a monthly retirement allowance from the Tennessee Consoli- dated Retirement System (TCRS), or higher education optional retirement plan who is eligible for Medicare Part A may apply for coverage under this Plan. Retired Local Education support staff and Local Government participants eligible for Medicare Part A who receive a monthly retirement allowance from the TCRS are also eligible to apply for coverage. Your legal married spouse and eligible dependents may also apply. If you qualify and enroll for coverage within 60 days of your initial eligibility, you cannot be denied coverage because of your age or health.
Who Administers The Tennessee Plan?
The Tennessee Plan features Medicare supplemental coverage sponsored by the State of Tennessee with claims administered by POMCO. The Plan offers you quality coverage at lower group premium rates. Since the monthly premiums are not based on age, they will not increase just because you get older. Premium rates may increase due to increasing costs, which would happen with any plan. Best of all, if you have more than 15 years of service as a State of Tennessee employee or teacher, the State of Tennessee will pay part of your cost for your Plan coverage.
Less Paperwork – Because Providers File Claims With The Plan, you don’t need to worry about paperwork! Most claims are filed for you by your doctors and hospitals if they have your Medicare and The Tennessee Plan member identification numbers. Claims are then sent directly to POMCO after Medicare has completed their part. This works out well for everyone. The providers are paid quickly and you avoid all the paperwork.
Of course, you should compare Medicare Supplemental Insurance quotes in Tennessee at Insuriffic.com.