Anthem formed back in 2004 when WellPoint Health Networks, Inc. and Anthem, Inc. merged. Then in 2014, WellPoint, Inc. changed the corporate name to Anthem, Inc.
Over the years, the company has delivered several leading health benefit solutions, including products for life insurance, disability benefits, dental, vision, long-term care insurance, etc.
They are an independent licensee of Blue Cross and Blue Shield Association; their headquarters is located in Indianapolis, Indiana.
Below, we’ll review Anthem Medicare Supplement plans for 2021.
Anthem Medicare Supplement Plans for 2021
Supplements have been designed to fill in the “gaps” that don’t get covered by Part A and Part B of Original Medicare, such as coinsurance, deductibles, and co-payments.
These plans are standardized, so regardless if you go with an Anthem Medicare Supplement plan or with another carrier, you’ll receive the same coverage.
The plans are ten in total and are denoted by letters A to N. Note that plans H, I, E, and J aren’t sold anymore. All carriers offering these plans don’t have to offer every plan, but Plan A must always be offered.
Remember that some names might sound familiar, like Medicare Part A or B, but they aren’t the same as Medigap Plan A or Plan B.
All supplement plans provide different levels of coverage, but each plan that’s lettered must have the same standardized benefits irrespective of the location or insurance company.
For instance, Medigap Plan G in Florida should have the same benefits as California. Those of you who live in Minnesota, Massachusetts, or Wisconsin, the insurance options differ from the other parts of the country.
Anthem Medicare Supplement Plan F
Anthem does offer Plan F; the benefits are the same as any other carrier.
Plan F will cover:
- Part A deductibles
- Part B deductibles
- Skilled Nursing Facility (SNF) care coinsurance
- Foreign travel emergency care
- Part B excess charges
- Part B precautionary care coinsurance
Anthem Medicare Supplement Plan G
Plan G includes all the same benefits as Plan F minus your Part B excess charges that you might incur from a doctor’s visit.
This plan is the second most common plan; the premium is lower and still includes a lot of benefits. It does include coverage for foreign travel and Medicare preventive care Part B coinsurance.
Anthem Medicare Supplement Plan N
Plan N is the third most common supplement plan because it cost a little less than Plan G since it doesn’t cover your Part B deductible or excess charges. It does have a small co-payment for emergency room visits and some regular office visits.
Anthem Enrollment and Eligibility
The ideal time for enrolling for any of the plans is during Open Enrollment Periods for these plans.
This period starts on the first day of the month you turn 65 and register in Part B, this phase only lasts for six months.
During this time, you’ll have a guaranteed-issue right to enroll in the available plans at your locality.
No insurer will deny you the coverage based on pre-existing conditions, but a waiting period can apply.
In the event you fail to enroll during the six months, you can be denied coverage or end up paying higher premiums for your plans, depending on your medical history.
Anthem Medigap Rates
Rates depend on my factors. Although the law requires that the insurance companies provide the same benefits for all the lettered plans, the premium rates for the policies are not the same.
This is the main reason the experts advise consumers to shop around to search for a plan that can suit their needs.
Some of the criteria carriers use to price the premiums are:
- Issue-age-rated – the plans base their premiums on your age during the time you registered for the policy. The younger you were when registering, the lower the premium will be
- Community no-age-rated – here the premium charges are the same, regardless of the age
- Attained-age-rated – just like in issue-age rated, these policies base their premiums on your age when you bought the plan. However, the premium rates increase as you age
Remember that despite the rating method we decide to use, the premiums can increase over time as a result of specific reasons like inflation. These rates are also different for each state; plans in Medicare Supplement plans in California won’t cost the same as plans in Virginia.
Anthem Rate Increases
Rate increases are state and policy specific. So, all Supplement Plan G policies with Anthem in one specific state will have the same increase. Then all Plan N policies will have a separate rate increase amount. Therefore, predicting rate increases can be nearly impossible.
The state of Virginia saw an average of a 6.0% rate increase for Anthem policies. However, other states could have seen lower or higher increases. The best way to ensure your coverage is elite is to contact our agents.
Anthem Medicare Supplement Reviews
Even though Anthem is part of Blue Cross, their Medigap plans are sold separately. Anthem does offer SilverSneakers, as well as additional programs to help you save for retirement and keep your health in check. You can find their A+ BBB Rating as well as their AM Best A rating here.
Anthem Medicare Advantage Plans
Many Anthem Part C plans include extra benefits such as vision, prescriptions, dental, and hearing. Although, Medicare Advantage plans from many companies are notorious for being an “all-in-one” option. Some plans even cover wellness programs and over the counter benefits. Now, it’s important to note that Medicare Advantage isn’t right for everyone, these plans may have a lower premium but the costs can be astronomical when you do get sick.
Anthem Medicare Preferred PPO
Anthem, like other Part C companies, also offers different types of Advantage plans; such as Health Maintenance Organizations, Preferred Provider Organizations, and Special Needs Plans. A PPO will allow you to use doctors outside the network, but you may pay more.
How to Compare Anthem Medigap Premiums Near You
To review rates for an Anthem Medicare Supplement plan and compare other rates with top carriers in your area, fill out the online rates form.
Once complete, one of our licensed agents will contact you with the most current rates in your area based on the information provided, including Anthem Medicare Supplement quotes. If you rather speak to an agent now, please don't hesitate to call the number provided above.