Oklahoma 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 Oklahoma.
Medicare Supplement (Medigap) Policies
Oklahoma requires insurers to offer at least one Medicare Supplement policy to adults under sixty-five. Find more details on Medigap policies at CMS.gov.
Mini-COBRA Policies (small group)
If you work for an employer that has less than 20 employees, you will fall under the Oklahoma continuation state law. You can contact your previous employer for continuation of coverage. You will be charged the entire premium. Learn more about COBRA and mini-COBRA here.
Medicare Savings Programs In Oklahoma
Oklahoma has four Medicare Savings Programs.
*The following data is from 2016 and is based on federal amounts. These amounts may increase in 2017. 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 and for couples with a monthly income under $1,.55, the state pays all premiums for Part B and all Co-Pays and Deductibles for Parts A & B
- *Specified Low-Income Medicare Beneficiaries (SLMBs): For individuals with a monthly income under $1,208 or couples with monthly income under $1,622, the state pays premiums for Part B.
- *Qualified Individuals (QIs): For individuals with a monthly income under $1,.57 or for couples with monthly income under $1,823, the state pays premiums for Part B.
- *Qualified Disabled and Working Individuals (QDWIs) – For individuals with a monthly income under $4,045 or couples with a monthly income under $5,425.
*Data from Medicare.gov
According to ssa.gov, you should be aware that several States may even disregard all resources for individuals or couples in certain categories.
State Health Insurance Assistance Program
The Senior Health Insurance Counselling program (SHIP) is a statewide network of trained volunteers who educate, assist, and serve as advocates for people with Medicare. SHIP provides trained volunteers to help people with Medicare understand their rights and options in health insurance.
State Tax Credit for Health Insurance
Oklahoma offers a two-year, nonrefundable credit for small employers that that (a) have done business in the state for at least one year; (b) have not, within the 15 preceding months of offering to purchase the state-certified plan, provided group health insurance to at least 75% of its employees who are residents of the state and work an average of 24 hours or more a week for the employer; (c) offer the state-certified basic health benefits plan to all eligible employees; and (d) pay 50% or more of the full cost of the premium attributable to the employee for which the credit is claimed. An eligible employee is an employee, proprietor, or partner of the employer claiming the credit who (a) is a state resident, (b) works an average of 24 hours a week or more for the employer, and (c) was not covered by a group health insurance policy or plan offered by the same employer within the 15 months preceding the offer to purchase a state-certified basic health benefits plan. Credit amounts to $15/on the per eligible employee.
Low-Income Subsidy (“extra-help”) for Prescription Drugs
In 2016, you may qualify if you have up to $17,820 in yearly income ($24,030 for a married couple)
If you live in Oklahoma, you can consult with one of our MedicareSolutions.com licensed sales agents to get personal assistance that is specific to your area. One of our licensed sales agents can compare Oklahoma medicare insurance plans in your area and help you find the best Medicare plan for your needs.