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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.

What are Medicare Supplement Plans?

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

Supplemental Insurance Plans for Seniors on Medicare

Medicare Supplement plans are standardized by the federal government, meaning the benefits for each plan are consistent across supplemental insurance companies. Before you begin to compare supplemental 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 timeframe, 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.

Where Can I Compare Medicare Supplement Plans?

You can compare Medicare Supplement plans online, but you still need the assistance of a licensed Medicare agent to get accurate quotes. All you have to do is complete our online rate form.

Once you submit the required information, we will be able to pull all the plans available in your area with all the top carriers taking into account your information and health history. Your information is required in order to get your premium rates since those factors are what impact your premium.

FAQs

What is Medicare gap insurance?
Medicare gap insurance is a Medicare Supplement plan. It’s also known as Medicare gap insurance because it fills in the gaps in coverage that Medicare leaves to the beneficiary to pay out of pocket.
When can you get supplemental Medicare insurance?
Once you enroll in Part B, you’ll have a six-month window to enroll in supplemental Medicare insurance without having to answer health questions. Once this window has passed, you can still enroll in a plan at any time, you will just have to go through medical underwriting.
How do Medicare Supplement plans work?
Medicare Supplement plans work by covering out-of-pocket costs that the beneficiary is responsible for after Medicare has paid their portion of your medical costs. Medicare will always be billed first, then your supplement carrier will be billed the remaining balance. Depending on what letter plan you choose, you could have low to zero out-of-pocket costs.
How can Medicare Supplement plans be free?
Medicare Supplement plans are not free. All of them have a monthly premium. The only supplemental options for Medicare that are free are Medicare Advantage plans. Advantage plans come with more cons than pros. It’s important to compare both Medicare Supplements & Medicare Advantage side by side before you choose which one to enroll in.
Can I have two Medicare Supplemental plans?
No, you cannot have more than one Medicare Supplement plan. Agents & carriers are not allowed to sell more than one plan to an individual beneficiary.
Can a doctor refuse a Medicare Supplement?
No, if a doctor accepts Original Medicare, they must accept your Medicare Supplement plan.

How to Pick a Medicare Supplement Plan in 2022

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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Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

4 thoughts on “Medicare Supplement Plans

  1. I have BCBS Medigap Plan F. The medical is 100% coverage of A and B. My problem is getting best Prescription, Dental, and Vision. My medicL is $208 monthly. Please advise!

    1. Hi Kristine – for prescription drug coverage to pair with your current coverage, you’ll need a Part D policy. You can also obtain bundled dental/vision/hearing coverage through an ancillary policy in addition. The costs for these plans vary by geographic area. To explore options, you can fill out our online rate form.

  2. 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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