Kentucky Medicare Insurance Plans
Medicare is a federally sponsored health insurance program available to those over the age of 65, as well as to individuals who have certain disabilities. At the state level, however, there exist specific organizations that help beneficiaries better understand the Medicare process, and Medicare recipients may even qualify to receive state subsidies, depending on their circumstances. Consider the following information if you are interested in obtaining Medicare coverage in the state of Kentucky.
Medicare Supplement Insurance (Medigap) Policies
Kentucky does not mandate insurance carriers to sell Medicare Supplement Insurance (or Medigap) policies to Medicare recipients under age 65. Some insurance companies may still offer Medicare Supplement Insurance options to those under 65, but they may charge higher costs than Medigap policies sold to people over 65. Find more details at cms.gov.
Mini-COBRA Policies (Small Group)
If you work for an employer that has over 20 full-time employees, then federal COBRA law applies. Kentucky offers continuation of group coverage if your employer has fewer than 20 employees and your group has a fully insured plan. If you qualify for state continuation, you and your dependents can extend your group health insurance for 18 months after the date on which the coverage would have ended because you were no longer a group member. When the 18-month period for continuation ends, you have a right to convert to individual coverage that provides benefits substantially similar to your group plan. The conditions for state continuation of coverage is that you must have been covered by the group policy or any group policy it replaced for at least three months. The second condition is you must notify that insurer and pay the premium at the group rate within 31 days after you receive a notice of your right to continue coverage. Read more details here.
Kentucky Medicare Savings Program
Kentucky offers four Medicare Savings Programs that individuals who qualify may apply for through the Kentucky Cabinet for Health and Family Services, Department for Medicaid Services.
The following data is from 2017 and is based on federal amounts. If your income and resources are slightly higher, you should still apply, you may qualify for benefits even if your income is higher than the limits listed.*
- Qualified Medicare Beneficiaries (QMBs): For individuals with a monthly income under $1,010 or couples with a monthly income under $1,355 who are receiving Medicare Part A, the state pays all premiums, deductibles, co-payments, and coinsurance for Medicare Parts A and B.
- Specified Low-Income Medicare Beneficiaries (SLMBs): For individuals with a monthly income under $1,208 or couples with monthly income under $1,622 who are receiving Medicare Parts A and B, the state pays the Medicare Part B premium.
- Qualified Individuals (QIs): For individuals with a monthly income under $1,357 or couples with monthly income under $1,823 who are receiving Medicare Parts A and B, the state pays the Medicare Part B premium.
- Qualified Disabled and Working Individuals (QDWIs): For individuals with a monthly income under $4,045 and couples with monthly income under $5,425 who lost disability benefits due to earnings and are eligible to enroll in Medicare Part A, the state pays the Medicare Part A premium for up to 48 months.
*Data from Medicare.gov
Kentucky State Health Insurance Assistance Program (SHIP)
The Kentucky SHIP is a free counseling service provided to Medicare beneficiaries, their families, and caregivers to help them understand their Medicare options. It is an independent organization made possible by federal funding; it does not sell insurance products. Kentucky SHIP connects you with a trained counselor in your area who can guide you in making an informed decision about your health care needs.
Subsidy (Extra Help) for Prescription Drugs
In 2017, you may qualify if you have up to $17,820 in yearly income ($24,030 for a married couple) and up to $13,640 in resources ($27,250 for a married couple).
If you live in Kentucky and have questions about the benefits listed above and how to choose the health care coverage that is best for you, consult with one of our MedicareSolutions.com licensed sales agents for help when comparing Kentucky Medicare insurance plans. Our knowledgeable licensed sales agents can help you compare plans in your area to ensure you find the Medicare insurance benefits that are right for your needs.