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Medicare Supplement Plans

Medicare Supplement Plans cover what Original Medicare does not. These supplement plans fill in gaps in your healthcare coverage including copayments, deductibles, and coinsurance.

Medicare Supplement Plans for 2021

Medicare Supplement plans are supplemental insurance policies that cover costs left unpaid by Medicare Parts A and B. This means that healthcare providers bill Medicare first, and charge the remaining amount to the Medicare Supplement plan. If a provider accepts Medicare, they will always accept a Medicare Supplement plan.

Supplemental Insurance for Seniors on Medicare

Medicare Supplement plans are standardized by the federal government, meaning the benefits for each plan are consistent across carriers. Before you begin to compare Medigap plans, it’s helpful to familiarize yourself with the pricing methods used by carriers. The method used can affect your rates and how they increase over time. It’s important to note that if you have a Medigap policy and your spouse needs coverage as well, they must buy a separate policy.

What Determines Your Medicare Supplement Premium?

Prices and premiums vary by the insurance company, as well as by state. The same plan may cost more in one state than another. Depending on the letter plan you choose, the average premium can range between $50-$300. Several factors can affect your premiums. Depending on your health and budget needs, a supplement plan could save you from high unexpected medical costs.

Once you’re Medicare-eligible, you can sign up for a Medicare Supplement plan once you have Part A and Part B. You are Medicare-eligible if you have reached age 65, have collected Social Security Disability benefits for at least two years, or have been diagnosed with ESRD or ALS.

The best time to enroll in a plan is during your 6-month Open Enrollment Period. This enrollment period begins with your Part B effective date. When you enroll in a Medigap plan during this time, you have guaranteed issue rights. If you’re outside this time-frame, you can still enroll in a plan at any time of the year.

Some benefits include coverage for any coinsurance for outpatient services, coverage for both inpatient & outpatient deductible, hospital costs up to an additional 365 days after benefits from Original Medicare have been exhausted, hospice care coinsurance and copayments, first three pints of blood each year, and more.

What Companies Sell Medicare Supplements?

Many carriers sell Medicare Supplements. Some of these companies include UnitedHealthcare, Cigna, Humana, Blue Cross Blue Shield, Aetna, Mutual of Omaha, Anthem, Central States Indemnity, and many more.

How to Pick a Medicare Supplement Plan in 2021

If you're considering adding a supplement plan to your Medicare benefits, give us a call at the number above. If you prefer to see rates online, you can fill out our online rate form. Our agents will need to collect some additional information so we can provide you with the most accurate rate quote on all your supplemental options. Our services are 100% free to you.

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Lindsay Engle

Lindsay Engle is the Medicare expert for MedicareFAQ. She has been working in the Medicare industry since 2017. She is featured in many publications as well as writes regularly for other expert columns regarding Medicare. You can also find her over on our Medicare Channel on YouTube as well as contributing to our Medicare Community on Facebook.

2 thoughts on “Medicare Supplement Plans

  1. we had Transamerica supplement insurance until 1/1/2021 and our agent said that medica would be a better insurance, and it is not. can he get back on the plan he had before?

    1. Hi Michael! Unfortunately, this is very common & beneficiaries end up learning the hard way. You can enroll in a Medigap plan at any time of the year. The only issue is if you have any pre-existing conditions you could be denied. Give us a call and we can help figure out how to get you back on the plan you had or equivalent.


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