Medicare Supplement Plans
When you purchase a Medicare Supplement plan, you get powerful coverage that attaches onto Medicare Original and adds more coverage to your total insurance. Medical expenses that would not be covered normally are taken care of and you have fewer things to pay for out of pocket. You can use our site CompareMedicareSupplementplans.org to compare the rates on these plans and find out who is offering you the best deal on Medicare Supplements.
You should bear in mind that simply because you are eligible for one of these plans, that does not mean that you should be signing up for one of them, necessarily. Your needs are particular to you, and not all the plans we talk about here in this article will apply to you or will be a good deal for you to sign up for. You should look into these plans and examine them closely, then compare them to what your needs are, in order to find out if they are right for you.
The Benefits of Medicare Supplements
None of the Medicare supplement plans are the same, with each one differing from the others in some significant way. We want to show you what these plans could cover for you as a general rule, and then get into specifically what some of the better plans have to offer.
The Supplement plans will cover the copayments on Medicare Part A for you. That’s what you pay every time you go to the hospital, clinic or doctor office for Medicare Part A treatment. Medicare covers you for some of the expense, but you pay that coinsurance cost.
Supplement plans can cover the Part B copayment, which is the same thing as the Part A one, but it simply applies to Part B services.
The deductibles for both of those parts of Medicare can be covered as well. These are seen as two separate expenses, and the Part B one is only covered by a couple of the plans. It’s much cheaper than the Part A deductible, though, so it’s not that tbig of a deal if you have to pay that one out of your own pocket.
Supplement plans can also cover you for the cost of nursing care coinsurance. That’s what you pay out of pocket each time you receive nursing care services. Your hospice care coinsurance can be covered as well by many of the Supplement plans.
If you need to receive emergency medical care at a healthcare facility outside the US, then the cost of being transported there may be covered at least partially by your Supplement plan. A lot of the Supplement plans cover you for this expense, but only up to 80% and only after you have paid the deductible. Unlike some of the other items on this list, however, once this one runs out, you will not be covered by it again for the lifetime of the plan.
You may need to be administered blood over the course of the year. Some of that will be covered by Medicare and its basic coverage, but Supplement plans are able to provide you with cover for three more pints of blood, and this coverage is renewed each year.
You may have to pay excess charges for Medicare Part B as well, though this isn’t a very common expense. This only occurs if you go for Part B services at a medical facility that does not take Medicare fully. Because this expense is so rare, only a couple of the plans will bother to provide coverage for it.
That makes up the Medicare Supplement plans, and some other plans will cover most or all of these items, while others will only cover a few of them for you. You have to decide how much cover you want and go with the plan that provides that for you.
The Supplement Plans Most People Choose
We are going to look at some of the more popular Medicare Supplement plans. There are lots of them, and it would not be prudent to cover all of them here, so we’ll just be touching on the highlights, particularly the plans that more people sign up for than the rest.
For a while, this was the top choice for Medicare supplements. More people signed up for this plan than any other, but that isn’t the case anymore. Plan F is the plan that covers all the Medicare Supplement expenses, which means everything that we just listed. That’s a ton of coverage, and with that extensive coverage comes a high price tag. In most cases, it simply isn’t a good investment since it costs so much. If you are going for this plan, then we suggest you use our site CompareMedicareSupplementplans.org to compare rates from different insurance providers. You’ll be able to see the rates from a few different places in this one spot and pay nothing for the service.
You won’t find quite as much coverage with this one as you did with Plan F, but Plan G comes in at a very close second. It covers all the items we listed earlier, save for a Medicare Part B deductible. That deducible costs only $183, so it’s no great loss if it isn’t covered. We think if you compare the cost of Plan F to Plan G, you will see that you save money by going with Plan G and paying that deductible out of your own pockets.
If Plan G still offers too much coverage for you, then you can always go with Plan N. This one cuts down on the full coverage a bit more, taking care of everything on the list above expect for the Part B deductible, the Part B excess charges and some copayments you will have to pay for many emergency room visits and other services. Those are small copayments, and most of these items not covered under Plan N are either small or rare, so it’s often the best plan to go with for those who want a lot of coverage but don’t want to pay much for it.
High Deductible Plan F
If you compare this to the regular Plan F, you will see that they cover exactly the same things. They both cover all the supplemental expenses, but High Deductible Plan F covers them at a lower monthly cost. However, when you do need its coverage, you have to pay a higher deductible before the plan will cover you. That’s the tradeoff, and you will have to decide if it is a good one for you.
Who Is Eligible for Medicare Supplements?
You won’t be able to sign up for Medicare Supplements just because you could use the coverage. You actually have to meet certain eligibility requirements. At the top of the list is having Medicare Original. That base plan is a prerequisite for Medicare Supplements, and you cannot be signed up to any supplemental plan without the Original.
You can’t be signed up for certain plans while you have Medicare Supplement, though, such as Medicare Advantage, also known as Medicare Part C. Medicare Supplements go by another name as well- Medigap plans. Anyway, these plans- Medicare Advantage and Medicare Supplements- can overlap, and Medicare won’t allow you to have two overlapping plans.
You may not be able to sign up for a Medicare supplement plan while you have coverage from your employer or from a union either. There could be some overlap there as well, and you will need to drop one of the plans first, if that is the case.
The next eligibility requirement is that you are 65 years old. Once you turn 65, you can apply for Medicare Supplements, but you may be able to apply earlier. While being 65 is a prerequisite for Medicare, some people are eligible earlier due to medical conditions, such as having a disability or suffering from kidney disease.
You can only sign up for one Supplement plan at a time. Even though they offer some different coverage, they all overlap in some way, and as we discussed, that isn’t allowed. This is why you need to pick your plan carefully and ensure that you get the best plan for your needs.
When Is the Signup period?
We mentioned that you can sign up once you turn age 65, but there are limitations on when you can sign up around that time. You can apply before you turn age 65, but no Medicare plan can go into effect for you until you turn 65, unless you met one of those medical conditions that we talked about earlier. If you would like to know if you apply for early Medicare eligibility, you can talk to a Medicare agent about it.
The best time to apply for Medicare Supplements is during the six months following your 65th birthday or whenever you become eligible. This is a period known as Open Enrollment, and you are guaranteed the best plans and prices at this time. You cannot be turned down for any plan you apply for, so long as you are eligible, when you apply during Open Enrollment. You also are guaranteed to get the best possible price on the plan you sign up for, since insurance providers cannot factor in your preexisting medical conditions when you apply at this time.
Who Will Sell You the Plans?
Medicare Supplement plans can only be bought from specific insurance providers. Not all providers will sell Medicare Supplements, and you won’t be able to get these plans from Medicare directly. There are lots of insurance companies that sell these plans though, so you do have tons of options. That means you also have the opportunity to get a good rate on the plan or some great member benefits. We are going to discuss some of the better insurance providers to buy your Supplement plan from. They may not all be available in your area, but all these do sell Medicare Supplements and do offer some enticing options for seniors.
Mutual of Omaha
Many seniors opt for Mutual of Omaha because of their fine customer service reputation and their history as a stable company. They are a Fortune 500 company with a lot of insurance options for seniors, so you should have no problem finding a plan that fits you from what they have to offer.
Another long-standing company. AARP has a focus on seniors, providing them with far more than just insurance plans. They also provide access to expert financial services, healthy living resources and much more. AARP is one of the costlier choices from what we are showcasing here, but their vast member benefits and services still make them a decent choice for many.
Cigna is selling far more than just medical insurance, but even their Medicare Supplement lineup is robust. Many seniors save money on their insurance by signing up for a few of Cigna’s plans at once, getting covered for different types of services and enjoying member benefits across the board. Cigna is available not only in the US, but also around the world.
United Healthcare is the largest of the companies we are covering here, and that means they have tons of options, a large network on which to provide their coverage and round the clock customer service support.
Blue Cross Blue Shield tends to offer some of the more affordable Medicare Supplement offerings, but their prices and selection can vary from one state to another. Their numerous offices across the United States oparate independently of one another, which means that you can get some great prices on plans that are very similar to one another just by going to a different BCBS office.
You Can Get Great Deals on Medicare Supplement Plans
If you are looking to keep your costs down when it comes to medical insurance, then you should be looking for the lowest priced version of the Medicare supplement plan that you need. You want to find a plan that can take care of those medical costs you have most commonly, and at the same time you want a plan that’s affordable for you. To do all that, you will have to compare the prices and see who is offering the lowest cost version of the plan you need. You can do that right here, through our website. The free service we provide lets you quickly and easily compare Medicare Supplement plans.
You just enter some basic information in our search engine regarding the kind of plan you want and the area you live. Then we will take that and source quotes for that from various insurance companies and plans that are relevant to your search criteria. We only use local insurance providers to ensure that you are getting quotes that pertain to you. We source our quotes directly from the insurance providers, so that you can be certain they are accurate. Use this free service right here on CompareMedicareSupplementplans.org and start saving money on medical insurance.