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Medicare Supplement Plans in Colorado

Summary: Medicare Supplement plans in Colorado offer benefits that help cover the costs that Original Medicare doesn’t. There are several Medigap plans in Colorado available and it’s important to compare plans and find the right option for you. Estimated Read Time: 11 mins

Table of Contents:

    1. Best Medicare Supplement Plans in Colorado
    2. Who is Eligible for Medicare Supplement Plans in Colorado?
    3. How Much Do Medicare Supplement Plans Cost in Colorado?
    4. Medicare Supplement Plan Carriers in Colorado
    5. Medigap Plans in Colorado for Disabled Persons Under 65
    6. Medicare Supplement Plan Rating Methods in Colorado
    7. Medigap Guaranteed Issue Protections in Colorado
    8. When to Enroll in Medicare Supplement Plans in Colorado
    9. Does Colorado Allow Medicare Excess Charges?
    10. Additional Medicare Coverage Options in Colorado

Medicare Supplement plans in Colorado help fill the gaps that Original Medicare (Part A and Part B) leaves behind. When you enroll in a Medicare Supplement (Medigap) plan, you can visit any doctor or hospital accepting Original Medicare.

Thus, with a Medigap plan, there is no hassle when seeking care. Furthermore, you can receive the highest quality care when you need it the most.

Below, we explain how Medicare Supplement plans in Colorado work, as well as the many options you have in receiving additional care in your state.

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Best Medicare Supplement Plans in Colorado

There are twelve total Medicare Supplement insurance plans in Colorado. Each Medigap plan is identified by a different letter, A through N. Like most other states, the top Medicare Supplement plans in Colorado are Medigap Plan F, Plan G, and Plan N.

These three plans are the top choices in most states nationwide due to standardization and their comprehensive benefits. Medicare Supplement standardization requires all Medigap plans of the same letter to provide enrollees with identical benefits, regardless of the carrier offering the plan.

You never need to ask a provider if they will accept your policy. If a doctor accepts Original Medicare, your Medicare Supplement plan will pick up the balance.

Medicare Supplement Plan F in Colorado

Medicare Supplement Plan F in Colorado provides the most comprehensive coverage. Medicare Supplement Plan F covers 100% of the medical costs Original Medicare leaves behind, so you have no out-of-pocket expenses for anything Medicare covers after you pay the monthly premium.

Medigap Plan F includes:

  • Part A deductible, coinsurance costs, hospital costs, and hospice care
  • Part B deductible, copays, coinsurance, and any excess charges
  • Blood (first 3 pints)
  • Skilled nursing facility care
  • Foreign travel emergency – 80%

Unfortunately, not all those on Medicare are eligible for Medicare Supplement Plan F. You can only enroll in the plan if you received Medicare Part A before January 1, 2020. Anyone who received Medicare after this date is not eligible for the plan.

Medicare Supplement Plan G in Colorado

Behind Medigap Plan F, Plan G is the next-most comprehensive plan. However, for those new to Medicare, Medigap Plan G is the most comprehensive plan available. Medicare Supplement Plan G in Colorado covers the same benefits as Plan F except for the Medicare Part B annual deductible. Thus, once you meet the Part B deductible, you will receive 100% coverage for the remainder of your medical services for the calendar year.

Medigap Plan G includes:

  • Part A deductible, coinsurance, hospital costs, and hospice care
  • Part B copays, coinsurance, and any excess charges
  • Blood (first 3 pints)
  • Skilled nursing facility care
  • Foreign travel emergency – 80%

Medicare Supplement Plan N in Colorado

Lastly, Medicare Supplement Plan N in Colorado is a fantastic choice for those with Original Medicare who want supplemental coverage. Medigap Plan N has lower monthly premiums than Plans F or G, but some costs aren’t covered.

With Medigap Plan N in Colorado, you pay the Medicare Part B deductible, $20 copayments at the doctor, $50 copayments at the emergency room, and excess charges if your physician requires them.

Medigap Plan N includes:

  • Part A deductible, coinsurance, hospital costs, and hospice care
  • Part B copays/coinsurance
  • Blood (first 3 pints)
  • Skilled nursing facility care
  • Foreign travel emergency – 80%

After reviewing the top three Medicare Supplement plans in Colorado, you should be able to find a plan that will check all the boxes on the list of what you are looking for in a Medicare Supplement plan.

Who is Eligible for Medicare Supplement Plans in Colorado?

To be eligible for Original Medicare, you must be a U.S. citizen for at least five years and one of the following:

  • 65-years-old
  • Diagnosed with End Stage Renal Disease
  • Diagnosed with Amyotrophic Lateral Sclerosis
  • Receiving Social Security Disability for 24 months

Once you enroll in Original Medicare, you will then be eligible for a Medicare Supplement plan. For most, your Medicare Supplement Open Enrollment Period begins on the first day of the month your Part B goes active and lasts for six months. During this time, you will be eligible to enroll in a Medicare Supplement plan with no medical underwriting.

If you do not enroll in a plan during this time, you can still apply for coverage at any time. However, you will need to answer underwriting health questions, and your application could be denied. Unless, of course, you qualify for a Special Enrollment Period.

How Much Do Medicare Supplement Plans Cost in Colorado?

The cost of Medicare Supplements in Colorado differs for each Medicare beneficiary who enrolls in a plan. The monthly premium costs can depend on your age, gender, health, and tobacco-use status. While each of these factors can play a role, ultimately, the insurance company you decide to enroll with will determine your premium based on their requirements.

When it comes to Medigap policies, women typically pay less than men and plans with a lower benefit level will have a lower monthly premium than the higher coverage plans.

Below is a sample premium range for a plan in a highly populated Colorado ZIP Code. The example looks at the average premiums for both 65-year-old and 75-year-old men and women who do not use tobacco.

Female, No Tobacco, Colorado ZIP Code 80123
Medigap Plan Monthly Premium Age 65 Monthly Premium Age 75
Medicare Supplement Plan F $136-$449* $168-$449
Medicare Supplement Plan G $113-$439 $140-$439
Medicare Supplement Plan N $80-$428 $100-$428
Male, No Tobacco, Colorado ZIP Code 80123
Medigap Plan Monthly Premium Age 65 Monthly Premium Age 75
Medicare Supplement Plan F $153-$507* $190-$507
Medicare Supplement Plan G $127-$495 $158-$495
Medicare Supplement Plan N $91-$482 $113-$482

* If on Medicare before January 1, 2020

Remember, there are many factors that go into creating your premium and while accurate, the above figures are simply averages. Your premium may vary depending on your own personal factors.

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Medicare Supplement Plan Carriers in Colorado

Colorado residents have several reputable private insurance companies to choose Medigap coverage from. It’s important to do your research on each carrier because the costs and customer service reputation may vary between them.

A main factor for choosing an insurance company for your Medicare Supplement plan will likely be the cost of their monthly premium, but there are other factors you should consider as well. Independent credit agencies A.M. Best and S&P evaluate the financial standing of the insurance provider so that they have the necessary funds to fully cover all of your healthcare needs. Consumer agencies such as the Better Business Bureau (BBB) look at overall customer service based on customer complaints so you can be aware of any potential negative experiences.

The largest Medigap carriers in Colorado are:

  • Aetna
  • Anthem Blue Cross Blue Shield of Colorado
  • Cigna
  • Humana
  • UnitedHealthcare
Compare Colorado Medicare Supplement Carriers
Carrier BBB Rating S&P Rating A.M. Best Rating
Aetna A+ BBB A+
Blue Cross Blue Shield F A- A
Cigna No Rating A- A
Humana A+ BBB+ A-
UnitedHealthCare A+ A+ A-

Medigap Plans in Colorado for Disabled Persons Under 65

If you are eligible for Medicare before age 65 in Colorado, you will be able to purchase a Medicare Supplement plan. Each carrier that offers a Medicare Supplement plan to those over age 65 must offer at least one plan to those under 65.

Keep in mind monthly premium prices for those under 65 tend to be much higher than for those over 65 due to their higher rate of claims related to their disability.

To avoid these higher costs, many Medicare enrollees under 65 will enroll in a Medicare Advantage plan until they turn 65 and then switch to a Medicare Supplement plan.

Medicare Supplement Plan Rating Methods in Colorado

There are three rating methods for Medigap plans in Colorado. They are:

  • Attained-Age Rated
  • Issue-Age Rated
  • Community Rated

Most insurance carriers in Colorado use the attained-age rating method. Under this method, premiums for Medigap plans are based on your current age. When you first enroll in a Medigap policy, premiums are typically lower and gradually increase as you age. This increase in premiums is usually due to the generally higher healthcare costs and greater use of medical services that come with age.

Under the issue-age method, the premium is based on your age at the time of enrollment. Generally, those who enroll as soon as they are eligible at 65 enjoy lower premiums that do not increase solely due to age. However, the premium may still increase due to factors like inflation.

With the community-rated method, all individuals enrolled in the same Medigap plan in a specific geographic location pay the same premium, regardless of their age. Like with the issue-age rating method, the premium may increase due to outside factors like inflation but not due to age.

Medigap Guaranteed Issue Protections in Colorado

By Federal law, Medicare Supplement plans are required to offer guaranteed issue protections (also called Guaranteed Issue rights or GI rights) that ensure individuals can enroll without facing coverage denial or higher premiums based on pre-existing conditions. These protections are designed to ensure Colorado beneficiaries have access to Medigap coverage when needed.

One significant guaranteed issue right is the Medicare Advantage trial period. If you initially joined a Medicare Advantage (Part C) plan when you first became eligible for Medicare and decide to disenroll within the first year, you have a one-time guaranteed issue right to enroll in a Medigap plan. This allows you to obtain Medigap coverage without undergoing medical underwriting.

Another important protection is for those who lose coverage. If you lose employer-based retirement coverage or your current Medigap plan terminates or discontinues, you have a guaranteed issue right to enroll in another Medigap plan.

This GI right also applies if you move out of state and your Medigap carrier is no longer available. To qualify for this protection, you must apply for a new Medigap plan within 63 days of the termination of your existing plan.

Additionally, there are guaranteed issue rights related to Medicare Advantage plans. If your Medicare Advantage plan is terminated, you move out of its service area, or you lose coverage due to circumstances beyond your control, you have a guaranteed issue right to enroll in a Medigap plan. To be eligible, you must apply for a Medigap plan within 63 days of the termination of your Medicare Advantage plan.

When to Enroll in Medicare Supplement Plans in Colorado

The best time to enroll in Medicare supplement Colorado benefits is as soon as you’re eligible, during your Open Enrollment Period. Typically, this is as soon as you’re able to enroll in Medicare Part B benefits.

It’s best to enroll in a Medigap policy during this time so that you have guaranteed issue rights and won’t be subject to medical underwriting. If you have health issues, especially a pre-existing condition, you could face higher premiums or be denied coverage altogether if you enroll after your Medigap Open Enrollment Period or if you aren’t eligible for a Special Enrollment period.

Does Colorado Allow Medicare Excess Charges?

Medicare Part B excess charges are not common and are not allowed in every state. However, they are allowed in the state of Colorado.

Excess charges are additional charges that can be up to 15% more than the Medicare-approved amount for a Medicare-covered service. This can only be charged if the physician you are seeing does not accept Medicare assignment.

To avoid these costs, it is important to speak with your doctor and ensure they do accept Medicare assignment.

Additional Medicare Coverage Options in Colorado

If you’re not sure about getting a Medicare Supplement plan, Colorado residents have other options for coverage.

Medicare Part D plans are a valuable addition to Original Medicare with or without a Medicare Supplement plan. These plans help cover the cost of your prescription drugs.

Other available additions to your Medicare Supplement plan include stand-alone dental, vision, and hearing plans. They can provide you with additional coverage not included in Original Medicare or your Medigap plan without losing the comprehensive benefits of a Medicare Supplement plan along with Medicare Part A and Part B.

If you decide Medigap is not for you, you can always enroll in a Medicare Advantage plan (Medicare Part C).

Medicare Advantage plans include all the coverage provided by Original Medicare Parts A and B. Many MA plans include prescription drug coverage as well. There are plenty of Medicare Advantage plans to choose from in Colorado, but you will have to check with each insurance company to see what plans are offered based on your zip code.

Another thing to consider about Medicare Advantage plans is that they have their own network of healthcare providers, which is typically localized and more restricted compared to the nationwide network of Original Medicare. You may also require a network referral every time you visit a specialist under a Medicare Advantage plan.

One last thing to note is that you may have higher out-of-pocket costs under a Medicare Advantage plan than having Original Medicare and a Medigap plan combined.

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How to Apply for Medicare Supplement Plans in Colorado

If you are on the search for a Medicare Supplement plan in Colorado, you are in luck. At MedicareFAQ we have licensed agents who are ready to advise you on your best Medicare options.

When we first speak to our clients, we assess their needs, both healthcare and financial, and then provide you with a list of top plans and carriers in your area that match the criteria. Once you have chosen a plan, we help walk you through each step of the enrollment period. This ensures you do not miss any crucial steps along the way.

If you are ready to speak with a licensed insurance agent about your options today, call the number above or complete our online rate comparison form to receive a full side-by-side individualized comparison plan.

Sources

MedicareFAQ is dedicated to providing you with authentic and trustworthy Medicare information. We have strict sourcing guidelines and work diligently to serve our readers with accurate and up-to-date content.

  1. Senior Health and Medicare, CDOI. Accessed June 2023.
    https://doi.colorado.gov/insurance-products/health-insurance/senior-health-care-medicare
  2. Colorado Health Insurance, CMS. Accessed June 2023.
    https://www.cms.gov/CCIIO/Resources/Consumer-Assistance-Grants/CO
Kayla Hopkins

Kayla Hopkins

Content Editor
Kayla Hopkins is an accomplished writer and Medicare guru serving as the Editor of MedicareFAQ.com. Upon completing her Communications degree from Ohio University, Kayla dedicated her time to understanding the ever-evolving landscape of healthcare. With her extensive background as a Licensed Insurance Agent, she brings a wealth of knowledge and expertise to her writing.
Ashlee Zareczny

Ashlee Zareczny

Compliance Manager
Ashlee Zareczny is the Compliance Manager for MedicareFAQ. As a licensed Medicare agent in all 50 states, she is dedicated to educating those eligible for Medicare by providing the necessary resources and tools. Additionally, Ashlee trains new and tenured Medicare agents on CMS compliance guidelines. Ashlee is a Medicare expert who specializes in Medicare Supplement, Medicare Advantage, and Medicare Part D education.

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