Medicare Supplement (Medigap)

The state of Colorado requires insurers to offer at least one Medicare Supplement policy to adults under sixty-five afflicted with end-stage renal disease.

 

High Risk Pool
The state of Colorado offers a high-risk insurance pool to residents on the basis of HIPAA, HCTC and Medical Eligibility.

 

Mini-COBRA Policies (Small Group)
Colorado requires small employers to provide eighteen months of continuation coverage following an employee’s separation from a group plan.

 

Colorado’s State Pharmaceutical Assistance Program (SPAP)
Colorado offer special pharmaceutical assistance to individuals with AIDS through the Ryan White Title II ADAP (AIDS Drug Assistance Program).

 

State Medicare Savings Program
Most states have a form of premium support for low-income Medicare beneficiaries; the amount of support is directly correlated to the beneficiary’s income as a percentage of the Federal poverty level.

 

In Colorado,

• Qualified Medicare Beneficiaries—individuals are covered who have a monthly income under $903 and couples with a monthly income under $1,215, The state pays all premiums for Part B, co-pays and deductibles for Medicare Part A and B;

• Specified Low-Income Medicare Beneficiaries—individuals are covered who have a monthly income under $1,083 and couples with a monthly income under $1,457, the state pays premium for Medicare Part B;

• Qualified Individuals—individuals are covered with a monthly income under $1,219 and for couples with a monthly income under $1,640 and the state pays premium for part B.

Please note that for all types of beneficiaries there is an asset limit of $6,600 for individuals and $9,900 for couples.

 

Colorado State Health Insurance Assistance Program (SHIP)
The State Health Insurance Assistance Program (SHIP) is a public assistance programs funded in part by the Federal Government that works to inform community groups about current Medicare issues and concerns in each of the 50 states.

 

Colorado’s SHIP Program provides education, information and counseling regarding:

• Medicaid eligibility, benefits and claim filing

• Medicare Part D (Medicare Prescription Drug Coverage)

• Long-term Care Insurance

• Medicare Secondary Payer

• Medigap Insurance

• Medicare Advantage plan options and enrollment

• Medicare Cost-Sharing programs and Dual Eligible enrollment

• Medicare/Medicaid fraud, waste and abuse

• Medicare Costs and Deductibles

 

State Tax Credits for Private Health
Colorado offers an individual tax credit amounting to $500 for low-income individuals who are without insurance one year prior to year the credit is claimed. The credit is nonrefundable and only available to one person per household. Please check with the state before claiming benefit as it is only available in certain years.

Low-Income Subsidy (“extra-help”) for Prescription Drugs
This program is a subsidy for Part D recipients with resources under $13,070 (or $26,120 for a couple) to receive money towards a Medicare prescription drug plan. The benchmark of support is different depending on which region of the country you live in. In 2012, the subsidy for Colorado was $32.38.

 

If you live in Colorado, and you are interested in getting a Medicare Plan, please contact the Medicare experts at eAmeriFamily Insurance.  They are industry veterans and will guide you through the process of getting the right Medicare, Medicare Advantage, MediGap, or Medicare Supplement Plan for you.