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Medicare Supplement Plans in Vermont (Medigap)

Summary: Medicare Supplement plans in Vermont may help beneficiaries cover the costs left behind when using Original Medicare benefits. Medigap plans in Vermont have different levels of coverage. You can save money on premiums by comparing Medicare Supplement plans, carriers, and coverage options. Estimated Read Time: 13 mins

Table of Contents

  1. Best Medicare Supplement Plans in Vermont
  2. Who is Eligible for Medicare Supplement in Vermont?
  3. How Much Do Medicare Supplement Plans Cost in Vermont?
  4. Companies Offering Medicare Supplement Plans in Vermont
  5. Medicare Plans for Under 65 in Vermont
  6. Medigap Rating Method in Vermont
  7. Medigap Guaranteed Issue Protections in Vermont
  8. When to Enroll in Medicare Supplement Plans in Vermont
  9. Alternative Medicare Coverage Options for Beneficiaries in Vermont
  10. How to Apply for a Medicare Supplement Plan in Vermont

Best Medicare Supplement Plans in Vermont

There are many different Medicare Supplement plans in Vermont, and determining the best one can feel daunting. But it doesn’t have to, as there is no singular best option. Healthcare and budget needs vary from person to person. Therefore, the best Medicare Supplement plans in Vermont are those that meet the needs of the individual.

To identify the right Medigap plan in Vermont for you, you’ll need to understand your healthcare needs and find benefits capable of fulfilling those needs while keeping your costs as low as possible.

Residents of the Green Mountain State have plenty of options available, but remember, lettered plans are the same from carrier to carrier. The difference lies in the amount you pay in Vermont Medicare supplement rates, as private insurance companies can charge differing premiums for your coverage.

Of the 12 Medigap plans in Vermont you can choose from, three plans, Medicare Supplement Plan F, G, and N, stand apart from the rest as the most popular. Below, we’re breaking each down to showcase the benefits they offer enrollees.

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Medicare Supplement Plan F in Vermont

Medicare Supplement Plan F in Vermont delivers a complete form of coverage. Your Original Medicare (Medicare Part A and Part B) deductibles, coinsurances, and copayments are paid for by the plan.

These days, Medigap Plan F in Vermont hasn’t gone away. However, you’ll need to be eligible for Medicare before January 1, 2020, to be capable of enrolling.

 

Medicare Supplement Plan G in Vermont

Due to the enrollment restrictions, Medicare Supplement Plan G in Vermont has become a crowd favorite. You still have to pay for your Medicare Part B deductible, but other than that, your coverage with Medigap Plan G in Vermont offers the same benefits as Plan F.

Medicare Supplement Plan N in Vermont

The last of the three most popular options is Medicare Supplement Plan N in Vermont. This plan is excellent for those looking to lower their monthly premiums but understands that you’ll be responsible for your copayments at the doctor or an Emergency Room. You’ll also need to cover your Part B deductible.

Unlike many other states, Vermont bans Medicare Part B excess charges that can occur when providers refuse to accept Medicare assignment. Although this is rare throughout the U.S., it’s not even a consideration in VT.

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Who is Eligible for Medicare Supplement Plans in Vermont?

Anyone eligible for Original Medicare can enroll in Medicare Supplement plans in Vermont. Here’s how most qualify:

  • You’re 65 years of age.
  • You’re also a U.S. citizen or a legal resident for at least five years.

Alternatively, there are certain situations that can help you qualify even if you are under 65 years old. These include:

  • Receiving two years of Social Security Disability Income (SSDI).
  • If you are diagnosed with end-stage renal disease (ESRD), you’ll become eligible for Medicare after four months of dialysis.
  • You are diagnosed with amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease. Your eligibility starts as soon as you are diagnosed.

How Much Do Medicare Supplement Plans in Vermont Cost?

Figuring out the right Medigap plan in Vermont for your needs will entail looking at costs, of course. It’s important to understand how insurance companies determine Vermont Medicare supplement rates. Many factors go into these figures, but the biggest are your age, gender, tobacco usage, and the amount of coverage you enroll in.

While nothing is absolute, smokers will pay more than non-smoking individuals, people with more benefits pay more, and finally, costs can rise with age as well.

To compare Medicare Supplement plans in Vermont easily, we’ve created a chart assessing the average cost of monthly premiums for both a 65-year-old male and female and a 75-year-old male and female. In this scenario, everyone lives in the same ZIP Code and abstains from tobacco usage:

Female, No Tobacco, Vermont ZIP Code 04401
Medigap Plan Monthly Premium Age 65 Monthly Premium Age 75
Medicare Supplement Plan F $165-$378* $165-$378*
Medicare Supplement Plan G $145-$343 $145-$343
Medicare Supplement Plan N $124-$209 $124-$209
Male, No Tobacco, Vermont ZIP Code 04401
Medigap Plan Monthly Premium Age 65 Monthly Premium Age 75
Medicare Supplement Plan F $165-$378* $165-$378*
Medicare Supplement Plan G $145-$343 $145-$343
Medicare Supplement Plan N $124-$209 $124-$209

* If on Medicare before 01/01/2020

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You’ll notice when you compare Medigap plans in Vermont that the premiums are the same regardless of age. This is because premiums in VT are community-rated, meaning the price of coverage is the same within the same plan regardless of age. There is also no medical underwriting, meaning you won’t be charged higher premiums or denied based on your medical history.

Companies Offering Medicare Supplement Plans in Vermont

Finding cheap Medicare Supplemental Insurance plans in Vermont through private insurance carriers is possible. Always remember to assess your healthcare needs and enroll with a company that has the right benefits for you. However, there are other considerations other than cost you’ll want to consider:

  • Customer service is important, and you’ll want to know you’re enrolling with a carrier you know will be there to handle your needs properly. The Better Business Bureau is a great resource for checking how companies treat their customers.
  • You’re also going to want to be sure that your carrier is strong financially. A great metric to use is the financial credit rating from institutions such as A.M. Best and S&P.

How much you’ll have to pay is important, but so too is knowing your carrier is there for you when you need them the most. Here are some of the many top-rated carriers offering Medigap plans in Vermont:

Compare Vermont Medicare Supplement Carriers
Carrier BBB Rating S&P Rating A.M. Best Rating
Blue Cross & Blue Shield of Vermont A A+ (Superior) A+
Cigna N/A A- A (Excellent)
Humana A+ BBB+ bbb-
Mutual of Omaha A+ A+ A+ (Superior)
United American A+ AA- (Very Strong) A (Excellent)

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Remember, there are several other carriers offering Medicare Supplement plans in Vermont. It’s always best to compare a variety of carriers to see who is available in your area. Working with a licensed agent can help you gain a fuller scope and save time in the process.

Medicare Plans for Under 65 in Vermont

The state of Vermont requires that all insurance carriers provide at least one plan to those disabled and under 65. However, many find that Medicare Supplement plans for disabled people tend to cost much more.

Even though Vermont has guaranteed issue rights and is a community-rated state, a Medicare Advantage plan may be a better alternative. Speaking with a licensed agent can help beneficiaries under 65 compare the benefit options for their needs.

Medigap Rating Method in Vermont

Although there are three different types of Medigap rating methods available, Vermont carriers only use one. Known as community-rated plans, age isn’t a factor when enrolling. In other words, no matter if you’re 65 years of age or 75 years of age, your premium won’t go up based on this factor. However, over time, Vermont Medicare supplement rates may still rise due to other factors, such as inflation.

Medigap Guaranteed Issue Protections in Vermont

There are qualifying life events in which you may lose healthcare coverage. During these events, Medigap guaranteed issue rights, or Medigap guaranteed issue protections, are afforded to you. This allows you to enroll in Medicare Supplement plans in Vermont without facing elevated rates or being denied due to pre-existing conditions. Here’s how you qualify:

  • If you’re enrolled in a Medicare Advantage plan and it either stops covering your area, you’ve moved from its service area, or it’s leaving Medicare altogether, you’ll have GI rights.
  • You are enrolled in Original Medicare along with coverage from your employer group health plan, which pays after Medicare, but the employer benefits are ending. This can include retiree, COBRA, or union coverages, and you may even have additional rights depending on Vermont laws and your situation.
  • If you are enrolled in Medicare SELECT but move away from your plan’s service area.
  • If you enroll in Medicare Advantage or Program of All inclusive Care for the Elderly (PACE) as soon as you are eligible for Medicare, you can switch to Original Medicare benefit, so long as it’s within the first year you join. This is a trial right.
  • Another trial right is provided if you drop Medigap to join Medicare SELECT or Medicare Advantage. If it’s within a year of enrollment, you can go back to Medigap.
  • Carriers can go bankrupt. If yours does and you lose coverage, or you lose coverage through no fault of your own, you receive GI rights.
  • When carriers mislead you or don’t follow the rules, you can leave your Medigap or Medicare Advantage plan. If you are enrolled in Medicare Part D during your initial enrollment period and at this time, you are also enrolled in a Medigap plan in Vermont covering outpatient prescriptions, but you terminate your Medigap coverage. You’ll need to prove that you still have Medicare Part D benefits.

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When to Enroll in Medicare Supplement Plans in Vermont

The best time to enroll in Medicare Supplement plans in Vermont is as soon as you are eligible for Original Medicare. For many states, enrolling earlier means receiving a lower rate, but the community-rated plans help mitigate this issue. However, it’s still important to sign up as soon as you are able to, as you will be able to cover various healthcare costs sooner.

Furthermore, when you first turn eligible, either through disability or when turning 65, you can enroll using your Medigap Open Enrollment Period.

Alternative Medicare Coverage Options for Beneficiaries in Vermont

A Medicare Supplement plan in Vermont may work for many, but there are other options available for those that may do better without such coverage. Here are alternative options to consider when searching for more coverage than simply Original Medicare on its own:

  • Medicare Advantage (Medicare Part C) is great at providing coverage and saving on premiums, but beneficiaries need to consider that plan restrictions apply as well as out-of-pocket costs. You also can’t have both a Medigap plan and a Medicare Advantage plan at the same time, so it’s important to stay informed before choosing.
  • Medicare Part D plans focus on covering the costs that come with prescription drugs. Because there are so many medications out there, it’s important to ensure yours is included. You can do so before enrolling by checking your plan’s formulary, which lists which drugs it covers.
  • In addition to Medicare coverage, independent ancillary policies can help you cover the cost of care for your dental, vision, and hearing needs.

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Find the most affordable Medicare Plan in Vermont!

How to Apply for a Medicare Supplement Plan in Vermont

Medigap plans in Vermont are available and applying may feel overwhelming as there are so many considerations. Your healthcare is important and finding the right benefits affects your medical experience. We’re here to help you find the right option available for your needs.

Take all of the guesswork and stress out of shopping for Medicare Supplement plans in Vermont by calling us at the number above or hitting the compare plans button on the page!

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. Medicare Supplement Insurance Minimum Standards Regulation H-2009-04, Vermont Department of Financial Regulation. Accessed August 2023.
    https://dfr.vermont.gov/sites/finreg/files/regbul/dfr-regulation-insurance-i-2009-04-medicare-supplemental-revised-081519_0.pdf
Kayla Hopkins

Kayla Hopkins

Content Editor
Kayla Hopkins is an accomplished writer and Medicare educator 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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