2021 Medicare Nevada

If you’re one of the many Nevada residents close to celebrating their 65th birthday, it’s never been more timely for you to recognize the ins-and-outs of Medicare.  

We understand that changes to health care coverage can be daunting, but you’re not in this alone. Every day, 10,000 Americans turn 65 and are tasked with Medicare enrollment. Remember, Medicare is here to save you money in health care costs, and it isn’t as complex as it might seem. 

Read on as our experts explore Medicare Supplement Insurance and Medicare Advantage plans in Nevada. 

Overview of Medicare in Nevada

2020 Nevada Medicare statistics:

• Close to 600,000 of Nevada’s 3 million residents are enrolled in Medicare
• Over 200,000 are enrolled in Medicare Advantage
• Over 170,000 have stand-alone prescription drug coverage. 

Medicare Supplement Insurance in Nevada

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

Some Medicare Supplement plans in Nevada offer additional benefits, such as emergency medical care outside the USA.

Medicare Supplement plans in Nevada only work with Original Medicare and are not compatible with Medicare Advantage. Supplement plans cannot provide coverage for prescription drugs, but beneficiaries can enroll in a stand-alone Medicare Part D plan instead.

Comparing Nevada Medigap Insurance Plans

In Nevada, 26 insurers offer Medigap plans. Providers offer ten different Medicare Supplement plans: Plan A, Plan B, Plan C, Plan D, Plan F, Plan G, Plan K, Plan L, Plan M, and Plan N. 

All of the plans are standardized, so the same plan will have identical benefits regardless of the insurer. However, the cost and out-of-pocket expenses will vary from company to company. Additionally, nearly all Medigap insurers in Nevada use attained-age policies, which uses an enrollees’ age to determine the premium – the older you are, the more expensive the premium. 

Because the costs can vary so much, it is important for Nevada residents to compare Medigap plans thoroughly. 

Nevada residents can purchase Medigap plans during their open enrollment. The open enrollment period is a six-month window that starts on the first day of the month you turn 65 and enrolled in Part B.

It is beneficial to enroll during this period because insurers cannot charge higher premiums or deny coverage based on medical conditions. 

Medicare Advantage Plans in Nevada

Medicare Advantage plans provide the same coverage as Original Medicare, plus extra benefits like prescription drug coverage and other healthcare services. Medicare Advantage combines the benefits of Original Medicare (Part A and Part B) and specific supplemental plans in a single plan. 

These plans can be purchased from Medicare-approved private carriers in Nevada. Each plan can come with different extra benefits, and they will have different costs as well.

Comparing Nevada Medicare Advantage Plans

Nevada residents need to compare all available options before enrolling in a Medicare Advantage plan. 

Of Nevada’s 16 counties, only nine have Medicare Advantage plans available. Availability ranges from county to county with twenty-something plans available in certain areas and only a couple available in others. 

Likewise, the costs of Medicare Advantage plans vary depending on the area of residence. A plan with identical benefits and coverage may be priced differently in certain Nevada counties. 

Medicare’s annual election period (October 15 to December 7) is the time frame in which Nevada beneficiaries can switch between Medicare Advantage and Original Medicare. Nevada residents can also switch to a different Medicare Advantage plan during the Medicare Advantage open enrollment period (January 1 to March 31).

Medicare Resources in Nevada

Senior Medicare Patrol

Nevada Senior Medicare Patrol teaches residents how to protect themselves against Medicare and Medicaid fraud. 

Senior Rx

Nevada Senior Rx is a program that offers financial assistance for residents enrolled in prescription drug coverage plans (Part D). 

State Health Insurance Assistance Program 

The State Health Insurance Assistance Program provides counseling and assistance to Nevada Medicare beneficiaries. 

Medicare Saving Program

The four Medicare Savings Programs offer varying levels of financial assistance:

• Qualified Medicare Beneficiary Program offers 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 provides assistance 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 Program 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. 

Nevada Medicare FAQ

How are Nevada Medicare Supplement plans rated?

The majority of Medicare Supplement Insurance plans in Nevada are attained-age rated. This means the policies use the beneficiary’s age to determine the premium.

Can I use my Nevada Medicare Supplement plan in other states?

Yes. Medicare Supplement Insurance travels with you anywhere in the USA, so long as you visit healthcare providers who accept Medicare.

How do I find the best Medicare Supplement plan in Nevada?

The key to finding the best Medicare Supplement plan in Nevada is comparing all your options. Medicare Haven’s licensed agents can guide you through the options available and determine if you’re eligible for any financial assistance programs. It’s our job to help find you the best Medicare plan to match your needs.

If you have any questions about Nevada 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.

Interested in a quote for Nevada Medicare Insurance? Call 1-844-236-0228 to speak with a licensed agent.