Medicare Supplement Plans (Medigap)

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Medicare Supplement plans were created to supplement, or compliment, Medicare. Original Medicare covers 80% of your medical expenses.

Medicare Supplemental plans fill in the gap between Medicare’s payments and the actual amount billed.

These gaps include co-pays, deductibles, and coinsurance. With ten policy options, the best one for you depends on the level of coverage you need.

We’ll review:

  • Eligibility guidelines
  • When to Enroll
  • Medicare Supplement insurance comparison
  • Additional resources
  • How to apply

Medicare Supplement Plans Eligibility Guidelines

To be eligible for Medicare Supplement plans, you must be at least 65 years of age and enrolled in Medicare Part B. In some states, Medicare Supplements are only available to those over the age of 65.

Other states allow those qualifying for Medicare due to disability to apply at any age. If you qualify, don’t wait to enroll.

Medicare Supplement Insurance Open Enrollment Period

Upon your enrollment in Medicare Part B, your OEP begins for Medicare Supplements. Sign up for Medicare Supplemental insurance during your Open Enrollment Period. This window only occurs once and cannot be extended or changed.

The first day of the month your Part B becomes effective, you’ll have a six month period to purchase Medicare Supplement insurance.

If you’re over the age of 65 and don’t enroll in Part B, your OEP doesn’t start until you do enroll in Part B and it becomes effective.

During this window, your given Medicare Supplement guaranteed issue rights. You cannot be turned down because of your age or charged a higher rate due to pre-existing conditions.

If you miss your OEP, you’ll need to meet the private plan’s current underwriting standards and may be charged a higher rate.

Medicare Supplements Coverage Comparisons

Medicare Supplements coverage benefits are dependent on the letter plan you choose. These plans are standardized by the government.

The benefits are going to be the same per letter plan regardless of the carrier. The only difference is the cost, it’s up to the carrier to decide how much they want to charge for each letter plan.

A carrier can choose between three Medigap pricing methods to determine your premium.

Each letter plan includes the basic benefits, starting with Plan A, and adds additional benefits or levels of coverage.

This way, everyone can get the individual healthcare benefits they need to cover their out of pocket medical costs not covered by Original Medicare.

It’s important to note that these plans only cover one individual. If your spouse needs coverage, they’ll be required to purchase a separate policy.

You can review the top Medicare Supplement plans by clicking here.

Medicare Supplemental Plans

Medicare Supplements include Plan A, B, C, D, F, G, K, L, M, N, and a high-deductible Plan F.

  • Plan A helps fill in the gaps with co-payments, deductibles, and coinsurance.
  • Plan B will cover virtually all hospitalization costs. This plan will also cover skilled nursing facility costs as well as hospice care deductibles.
  • Plan C is one of the most extensive plans and covers almost every cost. The only exceptions are Part B excess charges, hospitalization after 365 days, and nursing care after 101 days.
  • Plan D is extensive as well and covers everything except hospitalization after 365 days and nursing care after 101 days. It also doesn’t cover Part B deductibles.
  • Plan F is considered to be one of the most popular available plans, as it covers your Medicare Part B deductible as well as the services covered in Plan D.
  • High-deductible Plan F covers the same benefits as Plan F. The difference is it requires a higher deductible before coverage starts.
  • Plan G is very popular, as it covers many of the Part B deductibles.
  • Plan K pays half of the Part B deductibles and coinsurance for hospitalization. This plan has an out-of-pocket maximum, allowing participants to better plan their expenses.
  • Plan M provides extensive coverage but only covers half of your Part A deductible for hospitalization.
  • Plan N has extremely low premiums compared to other plans. It requires a small co-payment for some office and hospital visits.

Plans G, K, L, M, and N tend to have lower premiums but higher out-of-pocket costs.

Additional Medicare Supplement Plans Resources

We have a variety of resources that are available to you. Our FAQ pages answer top frequently asked questions about Medicare Supplemental plans.

We also have a blog we update regularly. Our goal is to keep you well informed and up to date with the latest healthcare news.

Don’t go anywhere without watching our senior agent education videos. Our experienced Medicare Supplement agents talk about the different supplemental Medicare insurance options available.

You can also check out our agent review page here.

Apply for Medicare Supplement Insurance Online

Plans vary by state, so talk to an expert who can help you find affordable Medicare Supplement insurance plans in your area. Our representatives will help you sign up for coverage as soon as possible.

Simply call our licensed representatives so we can provide an estimate. The screening questions are simple and will help us ensure that you receive the right plan for your needs.

You can apply for Medicare Supplements online by clicking here!