Veterans with Veterans Affairs (VA) healthcare may not be aware of their opportunity to combine coverage with Medicare. There are many advantages in doing so that we’ll discuss below, which will serve them and impact your portfolio.
For many Veterans, Medicare is an opportunity to receive extra benefits covering high out-of-pocket medical costs. Medicare could also give Veterans more flexibility when it comes to doctors and hospitals. If they have a condition that is not connected to their military service, Medicare could also help cover that. We’ll look at how each part of Medicare works with VA healthcare plans, so you’re prepared to assist your Veteran clients.
Medicare & VA Healthcare
The Department of Veterans Affairs groups beneficiaries into a priority group which determines how much each policyholder will pay. Medicare is helpful in these instances if your client is in a lower priority group with higher out-of-pocket costs.
Medicare Part A & VA Healthcare
Medicare Part A works with VA benefits by providing services like laboratory tests, X-rays, and surgical procedures that are not offered in VA healthcare policies. Additionally, if your client ever needs non-VA facility inpatient care, Medicare Part A will cover it. Veteran clients could also qualify for premium-free Part A.
Medicare Part B & VA Healthcare
Medicare Part B offers coverage for ambulance services, doctors’ services and other preventive and medically necessary services. Enrolling in Medicare Part B is highly necessary for your Veteran clients if they want to receive coverage of anything not covered by their VA benefits or if they lose some aspect of this preexisting coverage.
Medicare Part C & VA Healthcare
As you are aware, Medicare Part C combines coverage offered by Part’s A and B and in most instances Part D as well. Giving your Veteran clients one concise option for supplementing their coverage offered by VA benefits keeps things from being overcomplicated. Of course, these clients will still need to qualify for Part C coverage, and that doesn’t come without already being enrolled in Parts A and B. Veteran clients on Part C will still have to pay for their Part B premium but will have access to zero-premium Part C coverage.
Medicare Part D & VA Healthcare
Since VA health plans only provide coverage of prescriptions at pharmacies approved by Veteran Affairs, Medicare Part D helps increase flexibility when it comes to where your clients could receive their prescriptions. If they do not live near a VA pharmacy or facility under coverage, Part D opens more options for them. Medicare Part D could also offer them a wider variety of medications, possibly at a lower copayment.
Medigap & VA Healthcare
Like prescription drug coverage, VA health plans limit the care you receive to VA providers and VA facilities. Offering a Medigap plan to supplement this coverage gives your client more options for hospitals and clinics. Of course, they will still have to qualify for Medigap by already being enrolled in Medicare Parts A and B.
Offering combined coverage to US Veterans may seem like a tall task with lots of interconnected parts. With a dedicated FMO by your side, selling these plans doesn’t have to be overcomplicated.
Consider partnering with an FMO like Carolina Senior Marketing today and we’ll have all your marketing needs handled, leaving you to what you do best: selling insurance. Give us a call at (919) 460-6073 or email [email protected]
