Ultimate Guide to Georgia Medicare Supplement Plans

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Georgia Medicare Supplement Plans provide beneficiaries financial relief from the costs of deductible, coinsurance, and copayments. Medicare only covers 80% of the expenses after you pay deductibles.

However, Medigap plans can help alleviate some of the financial responsibilities relating to your healthcare. There are ten letter plans available, and all of them allow beneficiaries to see ANY Medicare doctor in the nation without a referral.

There are constant changes to Medicare; so, we update our content regularly to help you stay in the know. We’ll discuss all the 2020 Georgia Medicare information you need to know below.

Medicare Supplement Plans in Georgia for 2020

The best time to enroll in a Medigap plan is during your Medicare Supplement Open Enrollment Period. At this time, you have 6-months to use Guarantee Issue rights for a Medigap plan.

After this period, going through underwriting could be a requirement. The top Medicare Supplement Plans in Georgia are Medigap Plan F, G, and N.

There are a variety of plan options because everyone has different healthcare and budget needs.

To best explain, let’s use Taylor as an example. Taylor is in overall good health; she works out and makes healthy food choices.

No diseases run in her family; her mom is 97 yrs old and still going. So, Taylor doesn’t want to overpay for her insurance when she knows she won’t use it regularly.

Choosing the Best Medicare Supplement Plan in Georgia

For Taylor, the High Deductible Plan G seems to be the most beneficial. Many preventive services have coverage at 100%, and the amount she saves in annual premiums almost covers the high deductible for the year.

So, even if she does reach the deductible, her costs would be the same as if she has standard Medigap Plan G. However if Taylor doesn’t need the insurance, she saves thousands of dollars in premiums for the year.

While Taylor sees a big difference in costs for these two plans, not everyone will experience this. The High Deductible option benefits Taylor the most; many people will benefit more from other options such as Medigap Plan N.

The reason Taylor doesn’t choose Plan N? Because this plan doesn’t cover excess charges, which Georgia allows doctors to charge. Not all states permit this charge.

Some people will find it beneficial to still choose Plan N because not all doctors charge these extra fees.

Medicare Supplement Rates in Georgia

The amount you save between plans varies depending on your location, age, and the company you select.

Location, location, location.

The price of a Medigap plan in Atlanta is different than the cost of the same Medigap policy in Savannah.

For example, a 65 yr old Female in Savannah could pay about $39 a month for High Deductible plan G. However, the same woman in Atlanta could spend more than $50 each month.

While an $11 a month difference doesn’t sound like much, after the year, it’s $132 more for the same coverage just in another location.

Age can play a role in the cost of your insurance.

A 65-year-old man in Atlanta could pay about $110 a month for Plan N. Although, a 75-year-old man buying the same policy could spend more than $130 a month.

The state of Georgia requires issue-age ratings for policies; although, insurance companies have the option to choose community ratings. In community rating, age doesn’t influence cost, though the price could be higher than other comparable plans.

It’s best to consult an agent about coverage to determine the most suitable route for you.

The company you choose impacts short and long term expenses.

Using an agent that represents the top carriers in the nation benefits you on multiple levels. For example, an agent is familiar with rate increases, possible discounts, and overall client satisfaction with those companies.

Some companies charge a higher premium for smokers even when you have Guarantee Issue rights, or you’re in the Medigap Open Enrollment Period.

Various companies offer discounts for a spouse or household policyholders. When you work with one of our agents, they’ll discuss all these things with you.

Georgia MedicareSELECT Plans

Some people are comfortable with a policy that has a network of doctors. For those people, MedicareSELECT is an option to benefit from quality coverage at a lower premium.

MedicareSelect is different from an advantage plan in the aspect that advantage plans leave you 100% responsible for costs out of network, even when the doctor accepts Medicare.

On the other side of the spectrum, MedicareSELECT plans don’t replace Medicare, so, when you go out of network Medicare still covers 80% of the costs.

For those with MedicareSELECT, if at any time you decide the coverage isn’t good enough for you, give our agents a call.

You’re allowed to switch from a SELECT plan to a standard plan anytime, so long as the coverage is equal to or less than the MedigapSELECT policy.

Medicare Advantage Plans in Georgia

Medicare Advantage in GeorgiaIn 2019, 36% of Georgia residents on Medicare have an advantage plan.

These plans are notorious for covering things Medicare would deem unnecessary, including gym memberships, prescription coverage, basic dental, vision, and telehealth services.

With a $0 premium on most plans, it’s no wonder why so many Georgians opt for this coverage. However, if you know insurance, a low-cost plan doesn’t mean high-quality benefits.

Basic dental means you could get your cleaning done, but you’re likely going to paying out of pocket for a root canal or dentures.

For most people, it’s more beneficial to purchase a stand-alone dental policy with a small premium.

I’m NOT saying Medicare Advantage plans are bad; however, I will say they aren’t for everyone. Let’s use Taylor’s situation to explain better.

Taylor seems like a great candidate for an advantage plan because she is healthy, looking to save the most money, and she lives in an area with affordable Medicare Advantage plans.

However, Taylor travels to Florida every winter. If she has a Medigap plan, she can see a doctor in Florida with no issues.

Although, with a Medicare Advantage plan, Taylor only has access to doctors in her service area in Georgia.

If Taylor didn’t travel frequently, couldn’t afford Medigap, and was comfortable with a smaller service area, the Advantage plan could be a viable option.

What if the cost of Medigap premiums in Georgia is Out of the Budget?

If Medigap is outside your budget, Medicare Advantage is better than no coverage. The reason I say this, advantage plans have a maximum out of pocket to protect you from spending tens of thousands of dollars in coinsurance payments. Medicare, on the other hand, doesn’t care how much you spend; if you have a $100,000 cancer treatment, you better be ready to cover $20,000 in coinsurances.

Let’s say Taylor couldn’t afford Medigap. Well, there is an Aetna Medicare Essential PPO plan available in Atlanta that has a 4.5-star rating. Aetna is notorious for having a large doctor network and quick claims payments.

Preferred Provider Organizations (PPOs) allow beneficiaries to go to any doctor inside or outside the network. Taylor will pay more at a doctor outside the network; with this plan, she pays 40% out of the network.

Clearly, staying in the network is more beneficial for your wallet. However, if Taylor needed cancer treatment, her Maximum out of Pocket is only $5,900 for the calendar year.

Medicare Under 65 in Georgia

Beneficiaries under 65 can buy Medicare Supplement insurance; however, it’s likely only to be Plan A. The price is typically astronomical for those under 65 because claims are generally higher for a person on disability.

Although, upon turning 65, you can use the Medigap Open Enrollment Period to buy an affordable supplement with no medical underwriting questions.

Until you turn 65, Medicare Advantage could be the answer to more affordable healthcare. In some areas, Medicare Advantage Special Needs Plans are available for those with chronic conditions such as heart issues or diabetes.

Georgia Medicare Part D Prescription Drug Plans

Georgia Medicare Part D Prescription Drug PlansMost Part D plans have a deductible of $435; however, if you’re willing to pay more than $60 a month, you can avoid a deductible all-together.

Most people don’t take the same medications as their spouse, so it’s unlikely the best drug plan for you is suitable for your partner.

Since Taylor doesn’t take any medications, she opts for the Humana Walmart plan, it’s less than $15 a month in her area and gives her coverage if she ends up needing it.

Also, by purchasing a policy, she avoids any future Part D penalties.

To find the best Part D plan for you, contact one of our agents.

Medicare Q&A in Georgia

How to sign up for Medicare in Georgia?
Signing up for Medicare in Georgia is the same as applying in any other state. You can apply online, over the phone, or in-person at the Social Security Office.
What is the best Medicare Advantage plan in Georgia?
For a genuinely top-rate coverage, check out why Plan G AND Plan N are both 5-Star plans in our book.

How to Compare Medicare Supplement Plans in Georgia

Did you receive countless information about Medicare in the mail? Feeling overwhelmed by the piles of options available to you?

Worry no more; our agents are a phone call away, ready to walk you through the process of education and enrollment.

Our agents help people just like you ALL the time. It’s as easy as picking up the phone and giving an agent a call today at the number above.

Then, after answering a few questions, you’ll be on your way to your Medicare policy match. After enrollment, if you have ANY questions or concerns, our Client Care Team dedicates themselves to helping clients with any issues.

For those that can’t call us now, fill out an online rate form to get one step closer to your perfect policy match.

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