Medicare Supplement Plans in Alaska (Medigap)

Medicare Supplement plans in Alaska are an excellent option for covering the costs left behind by Original Medicare alone. These supplemental coverages, also known as Medigap, provide benefits for out-of-pocket expenses, and unlike Original Medicare, which comes from the federal government, private insurance companies provide your benefits.

There are 12 Medigap plans available in The Last Frontier. However, availability will vary depending on where you live within the state. When comparing Medicare Supplement plans, Alaska residents will find that the best option out there will be the one that fits their individual healthcare needs and budget.

This means different things for different people; for some, this may mean finding different coverage altogether, such as a Medicare Advantage plan. Other coverages such as Medicare Part D coverage and dental, vision, and hearing benefits can provide a more well-rounded approach to your healthcare. Learn more about the many Alaska Medigap plans available to you.

Best Medicare Supplement Plans in Alaska

The best Medicare Supplement plans in Alaska will provide coverage for your specific healthcare needs and fit your budget. Because each individual has different needs, you’ll find many options available.

Again, your benefits from Medigap plans are from a private carrier, not the federal government, as is the case with Original Medicare (Medicare Part A and Part B). because of this, rates can vary from carrier to carrier, as can features companies provide their clients.

Of Alaska’s 12 Medicare Supplement plans, three are consistently the most popular options: Medigap Plan F, Plan G, and Plan N.

Medicare Supplement Plan F delivers the most exhaustive form of benefits to Alaskans. Your Medigap Plan F benefits cover the costs for Medicare Part A and Part B) deductibles, copayments, and coinsurances.

However, while the plan isn’t becoming unavailable, to enroll, you must have been eligible for Medicare before January 1, 2020. This is one of the main reasons Medicare Supplement Plan G is a popular choice.

With Medigap Plan G, you’re still responsible for your Medicare Part B deductible, but it’s identical to Plan F in its benefits besides this variation.

There is also Medicare Supplement Plan N, which is quite popular with beneficiaries looking to save money on their monthly premiums. There are still costs to be aware of, such as covering copayments when visiting the Emergency Room or the doctor’s office. With Medigap Plan N, you’ll also need to cover your Medicare Part B deductible.

Alaska is a state that allows Medicare Part B excess charges. This is when a healthcare provider doesn’t accept Medicare Assignment and can charge as much as 15% more for services. Such charges are rare, however, but you should be aware of them when deciding on a plan.

Each of the Medicare Supplement plans in Alaska offers its own unique level of benefits. If you are looking to save on premiums, Medigap Plan N could be for you. But if you are needing more healthcare benefits, Medigap Plan G or Plan F if you qualify, are likely better coverage options.

Compare Medicare Supplement Plans in Alaska and Costs

For residents of Alaska, Medigap cost is going to be an important factor when picking out a plan. Because private insurance carriers use various factors to determine your premium, these rates can vary. Some of the most important factors include your age, gender, whether or not you use tobacco, and the amount of coverage you need.

While nothing is absolute, men usually pay more than women, and smokers also pay higher rates. You’ll also pay more if you are older or if you require more benefits.

The chart below reflects the monthly premiums of Medicare Supplement plans in Alaska. Our metrics compare both the costs of a 65-year-old male and female to a 75-year-old male and female in which no one is a tobacco user, and everyone lives in the same ZIP Code.

* If on Medicare before 01/01/2020

As you can tell, age affects the amount you’ll pay in premiums. This is because Alaska premiums use either an Issue Age Rating or Attained Age Rating to determine your final premium cost. You’ll also need to cover various out-of-pocket costs depending on your Medigap plan.

But because you’ll pay more the older you are when you enroll, it’s critical to do so during your Medigap Open Enrollment Period, which occurs when you turn 65. During this period, you’ll receive coverage without the fear of being denied, thanks to Guarantee Issue rights.

If, for some reason, you miss this enrollment period but have had a qualifying life event, you can enroll during your Special Enrollment Period. For example, if you have lost your coverage.

Otherwise, there is no guarantee that you won’t be denied coverage by an insurance company. In order to receive benefits, you’ll have to pass Medicare Supplement underwriting questions, and you may be denied coverage as a result.

Under 65 Medicare Supplement Insurance Alaska

There are plenty of states that have rules in place to ensure that at least one Medigap plan is available to people under the age of 65 that qualify. For example, disabled persons seeking Medicare Supplement benefits.

But in Alaska, there are no such requirements. Therefore, this already difficult challenge can often be even more challenging. To make matters worse, the state is also scarce on the amount of Medicare Advantage plans that are available.

Because of this, speaking with a licensed Medicare agent is even more imperative for Alaskans, as they have the resources to determine whether you have viable options and the best benefits for your needs.

Companies With Cheap Medicare Supplemental Insurance Plans in Alaska

Original Medicare comes from a program offered by the federal government, but Medigap coverage comes from private carriers. Because of this, you’ll notice that the costs and features that each company provides can vary for your coverage.

One company may be cheap for you, while another carrier may be better for another beneficiary. By looking at your healthcare needs and budget, you can identify which carrier is right for you. Here are some of the top companies offering Medicare Supplement plans in Alaska:

• Aetna gives its clients a 30-day look period for benefits.
• Bankers Fidelity has a fantastic range of plan options all while maintaining low premiums.
• Blue Cross Blue Shield (BCBS) of Alaska is known for having plenty of discounts for enrollees.
• Capitol Life
• Cigna provides a pre-enroll feature, allowing beneficiaries the ability to join their plan 90 days before the effective date.
• GPM (Government Personnel Mutual) helps by understanding different healthcare needs require different plans, of which they offer a wide variety.
• Humana offers the well-sought-after SilverSneakers membership as well as the Go360 Wellness program.
• Lumico Life Insurance helps you avoid large price increases by keeping prices consistent.
• Manhattan Life helps you save on premiums by providing a household discount to beneficiaries.
• Mutual of Omaha offers seniors as much as 12% in savings through discounts, though this amount varies from state to state.
• National General knows that timing is everything and provides coverage to its clients the day after enrollment.
• United American has a great selection of high-deductible Medigap plans that provide plenty of benefits while keeping costs low on premiums.
• UnitedHealthcare delivers with a crowd favorite, providing SilverSneakers memberships for its clients.

Finding the right company that offers Alaska Medicare supplemental insurance can feel daunting as many options exist. Speaking to a licensed Medicare agent can help you narrow your choices down to the right carrier for your budget and healthcare needs.

Alternative Medicare Coverage Options in Alaska

We love helping Alaska compare Medigap plans, as their benefits are great for many, but there are other times when different benefits may best suit healthcare needs. Our agents are here to help you navigate the best benefits for your budget and health. Here are other coverage options besides Original Medicare and Medicare Supplement plans in Alaska:

• Medicare Advantage (Medicare Part C) is a great option that saves you money on premiums, but you’ll need to be aware that there are still out-of-pocket costs you’ll need to cover. These benefits can be great for some, but there are also restrictions to your coverage. In Alaska particularly, Medicare Advantage is scarcely available because of the many rural areas that make the state unique. Lastly, you can’t have both a Medicare Advantage and Medigap plan. It’s either or.
• Medicare Part D plans cover expensive prescription drug costs, but not every plan covers every drug. Fortunately, by checking a plan’s formulary, the list of drugs covered by a plan, you can identify the plans that best suit your needs.
• When it comes to your dental, vision, and hearing healthcare, you may find that Medicare can be lacking; however, ancillary policies are available to help beneficiaries cover such services.

How to Apply for Medicare in Alaska

If you’re looking for Medicare Supplement plans, Alaska residents have options. But remember, other forms of coverage, such as Medicare Advantage, may better suit your needs. No matter what, contacting a licensed Medicare agent can help you find the right coverage for your needs.

That’s why we’re here, as our team of experts can help you at no cost to you pinpoint your healthcare needs and the benefits that meet them. Give us a call today at the number above to find Medicare Supplement plans in Alaska or whichever form of coverage best suits you. If you don’t have time to call, simply fill out our online rate form.

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