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2021 Medicare Mississippi

If you’re one of the thousands of Mississippi residents approaching their 65th birthday, now’s the perfect time to familiarize yourself with Medicare and all of its possibilities.

Changing your health care coverage to Medicare can be intimidating, but it isn’t as complex as it may seem at first.

Remember, the purpose of Medicare is to save you money!

It’s fair to say that Mississippians are more than familiar with Medicare; over 20% of the Mississippi’s population is enrolled in Medicare – a figure well above the national average. But are all of these beneficiaries getting the most out of it?

Read on as our experts explore available Medicare Savings Programs, Medicare Supplement Insurance, and Medicare Advantage plans in Mississippi.

Mississippi Medicare

Overview of Medicare in Mississippi

2020 Mississippi Medicare statistics:

  • Over 600,000 Mississippi residents are enrolled in Medicare.
  • Over 100,000 beneficiaries are enrolled in Medicare Advantage.
  • Around half of Mississippians enrolled in Medicare have a stand-alone prescription drug plan.

Mississippi Medicare Savings Program

Mississippi may be a state with many Medicare beneficiaries, but are all enrollees aware of the financial assistance programs they might qualify for?

A significant number of Medicare beneficiaries in Mississippi could unknowingly be eligible for help in financing their Medicare plans. The four Medicare Savings Programs offer varying levels of financial assistance:

  • Qualified Medicare Beneficiary Program provides financial assistance for Medicare Part A and Part B premiums. It can also cover the cost of deductibles and copayments. To be eligible, an individual must not earn more than $1,084 a month, while a married couple cannot earn more than $1,457 a month.
  • Specified Low-Income Medicare Beneficiary Program helps to pay for the premium for Medicare Part B. Applying individuals must have an annual income below $1,296 per month and couples can qualify if their combined income is not above $1,744 per month.
  • The Qualified Individuals Program also assists in paying for Part B premiums. An individual’s monthly income cannot exceed $1,456 while the combined monthly income of a married couple must be under $1,960 a month.
  • The Qualified Disabled and Working Individuals helps pay for Part A premiums only. If eligible to claim, your monthly income must also be within $4,249 per month or less than $5,499 if you’re a married couple.

Medicare Supplement Insurance in Mississippi

Original Medicare comes with out-of-pocket costs, including deductibles, copayments, and coinsurance. Medicare Supplement Insurance (also known as Medigap plans) fills in these gaps by covering a portion of the out-of-pocket expenses.

In Mississippi, there are around 100 Medigap providers to compare. Some Medicare Supplement plans in Mississippi also offer additional benefits, such as emergency medical care outside the U.S, but do not provide coverage for prescription drugs.

Medicare Supplement Insurance only works with Original Medicare and is not compatible with Medicare Advantage.

Mississippi Medicare Supplement Open Enrollment

The best time to enroll in a Medicare Supplement plan in Mississippi is during your open enrollment period. This six-month window begins on the first day that your Part B coverage is effective.
For example, if your Part B is effective February 1, 2021, then your Medigap open enrollment is from February 1, 2021, to July 31, 2021.

Mississippi residents can enroll in a Medicare Supplement plan at any time, but doing so outside of your open enrollment period means insurers can use preexisting health conditions to charge higher premiums and even deny coverage.

Mississippi Medigap Plan F vs Plan G

Medigap Plan F and Medigap Plan G are the most comprehensive Medicare supplement plans. As such, they are the most popular choices for Mississippi residents. If you’re considering the two plans, ding out which is right for you?

Mississippi Medigap Plan Comparison

Medicare Advantage Plans in Mississippi

Medicare Advantage combines the benefits of Original Medicare (Part A and Part B) and specific supplemental insurance in a single plan.

Medicare Advantage plans have at least the same coverage as Original Medicare, plus Part D and other healthcare services. Each plan comes with different extra benefits and costs.

Mississippi residents can switch between Medicare Advantage and Original Medicare during Medicare’s annual election period (October 15 to December 7). Residents can also switch to a different Medicare Advantage plan during the Medicare Advantage open enrollment period (January 1 to March 31).

Mississippi Medicare FAQ

Do Mississippi Medigap Plans Cover Prescription Drugs?

No. Medigap plans do not cover prescription drugs in Mississippi or any other state. For prescription drug coverage, you will need a stand-alone Part D plan.

When Can I Enroll in a Medicare Supplement in Mississippi?

Mississippians can apply for a Medicare Supplement (Medigap plan) at any time of the year. However, doing so out of your open enrollment period means that you may have to answer health questions.

How Much is Mississippi Medicare Supplement Insurances?

The cost of Medicare Supplement Insurance in Mississippi depends on age, zip code, tobacco usage, and the type of plan and carrier. To find the right plan, it’s advised to compare all the available options from the 30-something carriers in Mississippi.

If you have any questions about Mississippi Medicare in 2020, and your eligibility for financial assistance, speak to one of our licensed agents today. Our agents will discuss your Medicare options and help find a plan that works for you. Call us today at 1-844-236-0228.

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