Virginia Medicare Supplement Plans
Virginia Medicare Supplement plans can protect you against skyrocketing medical costs. Since premiums can change annually, working with an agent can save you time and money.
Working with one of our agents means you get a review of benefits and premiums; also, you get a personalized option based on your medical needs and budget.
Virginia Medicare plans are only available to residents. Below we’ll discuss the many different Virginia Medicare options and tips you need to know.
Medigap Plans in Virginia for 2020
With over 35 Medigap insurance carriers in Virginia and each offering at most ten plan options, there are many possibilities.
In 2020, some plans are going away for beneficiaries that newly eligible. These include first-dollar coverage options such as Plan F, the high deductible version of Plan F, and Plan C.
Federal law requires these companies to offer you a policy with Guarantee Issue rights when you reach your Medigap Open Enrollment Period.
During this time, insurance companies must provide you with coverage, no matter your health conditions. So, you get the policy at the same cost as someone healthy, and you won’t be subject to a policy denial.
Let’s say Pamela turns 65 on January 23, 2020. Well, Part B would become effective on the 1st of January, and she can enroll in Medigap with Guarantee Issue rights until the end of July.
Pamela has many things to consider before choosing her policy. She sees the primary doctor once a month for blood work, and there are three specialists she sees each month.
When you need to see several doctors regularly, a Medigap plan is worth it. Those with a family history of chronic disease should also consider Medigap coverage.
Medigap plans cover the 20% of doctor visit costs Pamela would’ve had with Medicare. Also, with most Medigap plans, there are no copayments like with a Medicare Advantage plan.
Further, Medigap gives her the freedom to see any doctor or specialist that accepts Medicare. Having this kind of freedom means she doesn’t need to worry about losing her doctors that she knows and trusts.
What are the Best Medicare Supplement Plans in Virginia
Pamela has Cardiovascular disease; for her, Medigap coverage is more than health insurance. There are more than 18% of Virginians over 65 living with Cardiovascular Disease; Medigap should be a priority for those at risk.
The average cost of a heart attack in the state of Virginia WITHOUT any complications and no need for a stent or pacemaker still cost over $16,000 at Chesapeake Regional Medical Center.
Once a complication occurs, or surgery becomes necessary, those costs can skyrocket above $40,000. Of course, with ONLY Medicare, you pay 20% of these costs.
There is no Maximum Out of Pocket with Medicare, without extra coverage, you’re at risk for losing the retirement nest egg.
Medigap Plan G in Virginia
Pamela is aware of her health risks. When looking into her options, Plan G seems the most suitable.
She sees her doctors frequently, and she needs a policy that protects her from outrageous costs. Plan G in Virginia covers Part A deductibles, as well as Part A and B 20% coinsurance.
Plan G DOES NOT cover the Part B deductible.
Virginia Medicare Supplement Tobacco Ratings
For smokers, some carriers charge a higher tobacco rate, even during Open Enrollment and Guarantee Issue times.
However, other companies don’t charge higher rates for smokers during those times.
Virginia Medigap Household and Spousal Discounts
Many carriers offer about a 12% household discount if you and your spouse both select this company.
Some even offer a spouse discount of 7%; you must have a policy with the same company.
Medicare Supplement Plans for the Disabled Under 65 in Virginia
There are over 1 Million Virginia Medicare beneficiaries, and about 15% are under age 65 on disability.
Federal law doesn’t extend the Medigap Open Enrollment Period to those under 65 with Part B due to disability. Plan A is usually the only option for beneficiaries under 65, and the cost is generally astronomically high.
However, upon turning 65, the option to enroll in a Guarantee Issue Medigap policy becomes possible. At this point, you can select any of the Medigap plans without underwriting.
Most people on Medicare before 65 are living with disability or chronic illnesses. A fantastic option is the Medicare Advantage Special Needs Plan.
In Virginia Beach, there are two Chronic Conditions Special Needs Plans available. For those eligible for Medicare and Medicaid, there are many different Special Needs Plans available.
The best part about a Special Needs Plan is that you can enroll ANYTIME if you qualify! Then, when you turn 65, consider Medigap coverage as an option.
Medicare Advantage Plans in Virginia
What happens when you can’t afford a Medigap policy? Well, it’s always better to have some coverage than no coverage.
It’s no secret that many Medicare Advantage plans have a $0 premium. Although, as you know, a low premium can mean higher out of pocket costs when issues arise.
For example, Pamela might choose a Humana Preferred Provider Organization so she can see her doctors that are out of network. Health Maintenance Organizations DO NOT cover you outside the Provider Directory.
The out of network costs are $50 each visit. Then, the Specialist costs $50 a visit. Just in doctor visits for the month, she spends $200.
So, for someone like Pamela, a Medicare Advantage plan could end up costing more in copayments than the Medigap Premium.
These are all things to consider before purchasing a policy. Once you become unhealthy, you may end up being denied Medigap coverage or charged more.
The Kaiser Family Foundation says about 20% of Medicare-eligible residents in Virginia enrolled in a Medicare Advantage plan in 2019.
Medicare Part D in Virginia
Medigap plans on the market today don’t offer Part D coverage. So, Pamela will need to purchase a stand-alone policy to go with her supplement.
In Virginia Beach, the Humana Walmart Value RX Plan is less than $15 a month. However, sometimes, the lower-cost plan ends up costing more in copayments.
Don’t judge a plan by its premium.
The Humana policy could be excellent for those with no brand name or a few brand name medications. Yet, Pamela takes Xarelto alongside three other brand name drugs, which is going to cost her more on the Humana plan than it’s worth.
The Humana plan has a $435 deductible on brand and specialty tier drugs. Then, she pays a copayment for her generic drugs.
Well, SilverScript can offer her generic drugs at $0, and her deductible is $0. While her premium is over $60 a month, her savings are hundreds of dollars each month because she’s not paying the deductible and higher copayments for her expensive drugs.
The best way to find suitable Part D policy is to call a broker and have them tailor a plan to your needs.
Virginia Employer Group Plan Voluntary Loss of Coverage
You have Guarantee Issue rights when voluntarily leaving an employer plan when the Employer Group Plan reduces coverage substantially. In this case, switching to Medicare would make sense.
Plus, you have the option to enroll in Medigap without underwriting.
Virginia Insurance Resources
Virginia Insurance Counseling and Assistance Program (VICAP) is a free program that assists people with Medicare in the state. Counseling can include Medicare, Coordinated Care, and Long-Term Care insurance.
The counselors are not able to sell insurance; they only help compare benefits and assist with filing for benefits.
Frequently Asked Questions About Medicare in Virginia
How to apply for Medicare in Virginia?
Applying for Medicare is simple because you can do it over the phone, online, or in-person at a local office.
If your enrollment with Medicare is automatic, you get your card about two months before your birthday.
Those that apply manually will generally get a card within three weeks.
Who is eligible for Medicare in Virginia?
The general requirement is that you must be at least 65 years of age or older. Also, those with a permanent disability may qualify for Medicare.
Who qualifies for Medicare Supplement Plans in Virginia?
Those that apply for Medigap outside the Open Enrollment Period may be subject to underwriting. You must be honest with your agent so that they can find you the most suitable plan and company.
About a quarter of American adults have a pre-existing condition; you’re not alone, our agents are ready to help you identify the best options for you.
After Enrolling in a Virginia Medicare Plan
After the application submission is complete, we will confirm your enrollment with CMS. Once we have enrollment confirmation, we send you an ID card and plan documents.
When you work with us, our client care team will have your back for as long as you have an active policy with us. We work with TOP-RATED Carriers; if you decide to change coverage, we can help you every step of the way.
Our support team can direct you when you need help with claims, forms, and appeals. We do more than find you a policy; we give you a plan with continuous support.
Get Help Finding Medicare Supplement Plans in Virginia
According to a recent poll, about 86% of older adults either have or are going to have Medicare; yet, over 70% of these people wish they were more knowledgeable when it comes to the government-funded healthcare program.
Don’t sit in confusion, give us a call at the number above, and experience quality customer care. We will ask you a few questions about what is essential when it comes to your coverage.
Then, we will help you identify the most suitable coverage and enroll in that policy.
If calling in right now isn’t an option, fill out our online rate form and get one step closer to understanding your Medicare.