In-Demand Medicare Supplement Plans in Colorado

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Many top insurance carriers offer Medicare Supplement plans in Colorado. These plans help fill the gaps in Medicare.

Medicare covers 80% of services and includes deductibles; extra insurance is our recommendation. Private insurance companies offer plans to beneficiaries.

There are specific times during the year you can enroll or change plans. Also, it’s essential to understand your eligibility.

Below we’ll discuss the many options Coloradans have with Medicare. From Part D to Extra Help, you’ll learn everything about Colorado Medicare!

Guide to Colorado Medicare Supplements in 2020

Medicare is a federal program that covers inpatient and outpatient services. You must be 65 years or older to qualify.

Some people with disabilities are eligible. Over 15% of beneficiaries in Colorado have Medicare due to disability.

Beneficiaries new to Medicare may not have access to first-dollar plans. The High Deductible Plan G hit the market in 2020.

Over 900,000 people in Colorado have Medicare. About 38% of those people have an Advantage plan.

There are over 25 Part D options, and all beneficiaries have access to a plan.

There are many options because the best plan for your friend isn’t going to provide you with the same value.

Learn more about the value of each option in the content below!

Example of How Coverage Options Work

To prove the value of Medigap, we’ll compare the costs for Alex when he has a supplement vs. Medicare.

Well, if Alex breaks his hip, he could have high out of pocket costs. For example, Alex will pay the Part B deductible for an ambulance ride.

Alex will also pay 20% of any leftover costs from the ambulance. Then, Alex pays the Part A deductible for the hospital admission.

In 2020, the Part A deductible is $1,408. The annual Part B deductible is $198. Plus, Part B excess charges cost an extra 15%.

If he has a heart attack in 4 months, guess what? He needs to meet the Part A deductible AGAIN!

The total for Alex breaking his leg would be SEVERAL thousand dollars. One hospital visit can be more costly than a Medicare Plan G in Colorado.

For a 65-year-old male, Plan G costs about $150 a month, and the only out of pocket cost is the Part B deductible.

So, if Alex has Plan G, his costs for the year are still LESS than $2,000.

Medigap gives Alex the freedom to see any doctor with no referrals, and he doesn’t worry about claims. When Medicare pays, the company pays.

When you enroll in Medigap, you choose peace of mind.

Medicare Supplement Plan Enrollment in Colorado

The time to apply is during the Medicare Supplement Open Enrollment Period. When you turn 65 and have Part B, you’re eligible for Medigap.

You have six months to enroll without worrying about underwriting or pre-existing conditions.

Those that don’t enroll when eligible risk having policy denial or higher premiums. Unless, of course, you qualify for a Special Enrollment Period.

Some delay enrollment and continue working past 65. If the employer is large, delaying Part B could be allowable.

Then, when you get Part B, you’ll qualify for the Open Enrollment Period. If you delay Part B, you could have a late enrollment penalty.

If your employer plan is primary, you can voluntarily lose coverage and get Guarantee Issue rights.

Talk to the benefits administrator to make a smooth transition to Medicare.

Medicare Advantage Plans in Colorado

Medicare Advantage in ColoradoTo better explain the value of each option, we compare Advantage plans vs. supplements.

Medicare Advantage plans in Colorado Springs are different than the options in Denver. Everything from costs to benefits will vary.

There is a plethora of Medicare Advantage in Colorado. They have PPO‘s and HMO‘s. Costs range from $0 to over $120 a month. In 2019, 38% of Medicare beneficiaries enrolled in Medicare Advantage.

A high premium DOESN’T equate to better coverage, a low premium doesn’t mean “affordable.”

In Colorado, 13% of Advantage members have Humana. Some Humana plans have 4.5 stars.

Medigap doesn’t have star ratings, but Plan G reviews express the value of coverage!

Consulting an Agent is the Most Practical Way to Find the Best Plan

First, you’ll start with the zip code and the medications you need. Then, doctors that you want in the network as well as facilities.

Now, for some, doctors or drugs might not be in any of the plan options. Some doctors don’t accept Advantage plans.

Some plans include Part D, routine dental, vision, and hearing services. These benefits don’t cover comprehensive services.

Part D benefits don’t include over the counter benefits. However, the best Advantage plans have extra perks.

There are a few reasons why some people say, “Advantage plans are bad.” But, the plan was unsuitable for them.

The Advantage Complaints Come from Restrictions and Limitations

Depending on the policy you choose, you may need to find a new doctor. Many plans require referrals.

Advantage plans have a maximum out of pocket (MOOP). The MOOP protects you from spending more than a set amount of money on services the policy covers.

Mutual of Omaha Advantage plan has a $3,400 out of pocket max in some counties. With this policy, you won’t pay more than $3,400 for the year.

If the plan doesn’t cover, it’s 100% your responsibility. When you pay out of pocket, those costs don’t apply to the policy.

Remember Alex? He could spend $2,000 a year for Medigap, or he could spend less on premiums and risk paying $3,400 out of pocket.

The question is, “do you want to pay less now, or a higher amount later?”

Medicare Prescription Drug Plans in Colorado

Colorado Medicare Part D Prescription Drug PlansColorado Part D covers drugs a doctor prescribes. If you don’t sign up when you’re eligible, there could be penalty fees.

There are low-cost Part D options; these are suitable for those with a few generics or no meds.

Depending on the prescriptions you take, you may need a more extensive plan. Let’s say Alex takes six brand name drugs.

Well, if Alex enrolls in a plan because it’s the lowest premium, he’s going to have an unsuitable policy.

A higher premium with lower copayments is a possible solution. Talking with an agent is the easiest way to identify a suitable Part D option for you.

An agent uses a plan finder tool to identify the lowest costing policy.

Save yourself time and money by working with an agent!

Social Security Disability and Medicare in Colorado

Those with End-Stage Renal Disease or disability for at least two years qualify at any age. The state requires companies to offer at least Plan A.

Some carriers in Colorado sell other plans; but, premiums are higher. For example, a Plan F could cost under $200 for someone 65 years old and over $200 for someone under 65.

Upon turning 65, the costs will go down. If the price of Medigap is too high, an Advantage plan still provides more coverage than Medicare.

Choosing a plan is better than ignoring the need for extra coverage.


Who Qualifies for Medicare in Colorado?
Those 65 and older are eligible for Medicare. Also, people with a disability like Amyotrophic Lateral Sclerosis or ESRD qualify.

Further, those on Social Security disability for at least 24 months are eligible.

For those aging into Medicare, you’ll need about ten years of work credits. But, those under 65 may not need to worry about work credits.

How to apply for Medicare in Colorado?
You can apply for Medicare through Social Security, either in-office, over the phone, by mail, or online.

Once you know the Part B effective date, you can select a supplement policy.

Which Colorado Medicare Supplement plans have Silver Sneakers?
Some Advantage plans offer SilverSneakers with the policy or as an extra benefit. SilverSneakers WON’T be available with every option; but, there are other routes to travel.

Those who choose to enroll in a policy through us can get access to an Active & Fit Direct link. The program gives you access to on-demand workouts and thousands of gyms.

How to get a Medicare wheelchair in Colorado?
You need a doctor to prescribe a wheelchair. It must be medically necessary if you want Medicare to help cover costs.

Also, you must use Medicare’s Durable Medical Equipment suppliers, or the bill is yours.

How to Compare Colorado Medicare Supplement Plans

Sure, you could find insurance on your own, but is it the best option? When you consult an agent, you’re choosing to have an expert help identify a suitable policy.

If you want total confidence in your policy choice, give one of our agents a call at the number above. An agent can answer questions and walk you through the enrollment process.

Call an agent now to get started! If calling now isn’t an option, fill out our online rate comparison form to get one step closer to your policy match.

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