Medicare Supplement
[/fusion_text][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”5%” bottom_margin=”” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius=”” box_shadow=”no” dimension_box_shadow=”” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”true” element_content=”” first=”false”][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”5%” padding_right=”” padding_bottom=”3%” padding_left=””][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”2_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius=”” box_shadow=”no” dimension_box_shadow=”” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”false” first=”true”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]What is a Medicare Supplement?
A Medicare Supplement is a type of health insurance sold by private insurers to cover the gaps in Medicare. This is why we refer to the plans as “Medigap Plans.”
A Medicare Supplement Insurance (Medigap) policy helps pay some of the health care costs that Original Medicare doesn’t cover, like:
- Copayments
- Coinsurance
- Deductibles
Medigap policies are sold by private companies.
Some Medigap policies also cover services that Original Medicare doesn’t cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, here’s what happens:
- Medicare will pay its share of the Medicare-approved amount for covered health care costs.
- Then, your Medigap policy pays its share.
The 10 Standard Medicare Supplements
Every Medicare supplement must follow the guidelines created by Medicare itself when it standardized all plans in 1990. Each standardized plan is identified by a letter. Medicare calls them plans. There is Medigap Plan A, Plan B, Plan C, D, F, G, K, L, M and N. Each one of these lettered policies provides the same set of benefits from company to company.
This means that the monthly premium is the main difference between supplements with the same letter. You can shop multiple insurance carriers for the best rate.
[/fusion_text][fusion_separator style_type=”single solid” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”40px” bottom_margin=”40px” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]The plans that are the most popular are Plans F, G and N.
What is a Medicare Supplement Plan F?
Medicare Supplement Plan F has been one of the most popular supplements in the nation, but by law they won’t be available any longer after January 1, 2020 for those newly eligible for Medicare. Individuals already with a Plan F policy at that time may keep it. Plan F pays 100% of the costs that Medicare would normally bill to you. This means that when you have Medicare Supplement Plan F, you will not pay any deductibles. You will pay no copays. Plan F will pay ALL of your share.
What is a Medicare Supplement Plan G?
Medicare Supplement Plan G has been gaining in popularity in recent years and after January 1, 2020 will probably be the most sought-after plan. It functions exactly like Plan F, except for the Part B deductible. You agree to pay the Part B deductible each year, and after that, it pays everything else. The Part B deductible is $226 per year. Right now we can find you Plan G premiums that are significantly less than Plan F premiums, saving you much more than $226 per year. This means that you come out far ahead each year.
What is a Medicare Supplement Plan N?
Medicare Supplement Plan N is one of the newer Medigap plans. It was first offered in 2010. Plan N will usually have lower premiums than Plan F or Plan G. However, you will do more cost-sharing along the way. In addition to the $226 Part B deductible you will pay a doctor co-pay of $20 per visit and a $50 co-pay for a visit to the Emergency Room.
You will also pay excess charges. Some doctors bill an extra 15% above Medicare’s rate. This is called an Excess Charge. Plan F or Plan G take care of this for you. On Plan N, you pay the excess charge yourself.
Plans F, G, and N all have coverage for Foreign Travel Emergencies. The coverage is 80% after a $250 deductible, up to a maximum limit of $50,000.
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”#ffffff” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius_top_left=”” border_radius_top_right=”” border_radius_bottom_left=”” border_radius_bottom_right=”” box_shadow=”no” box_shadow_vertical=”2px” box_shadow_horizontal=”2px” box_shadow_blur=”10″ box_shadow_spread=”7″ box_shadow_color=”#e0e0e0″ box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”true” first=”false”][fusion_button link=”#enroll” text_transform=”” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”custom” button_gradient_top_color=”#00426b” button_gradient_bottom_color=”#00426b” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”xlarge” stretch=”default” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]Medicare Supplement Open Enrollment[/fusion_button][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”30px” bottom_margin=”” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_widget_area name=”avada-slidingbar-widget-1″ title_size=”” title_color=”” background_color=”#e4e4e4″ padding_top=”7%” padding_right=”7%” padding_bottom=”7%” padding_left=”7%” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”enroll” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”#f2f2f2″ background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”5%” padding_right=”” padding_bottom=”3%” padding_left=””][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”2_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius=”” box_shadow=”no” dimension_box_shadow=”” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”false” first=”true”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]Medicare Supplement Open Enrollment
Medicare Supplement Open Enrollment is a one-time window during which you can enroll in any Medicare Supplement. You will not have to answer any medical questions. The Medicare Supplement insurance companies cannot turn you down during your personal open enrollment period.
However, this period lasts for only 6 months, so be sure not to miss it unless you have other creditable coverage. It’s not the same as the open enrollment period that happens each fall, which is a common source of confusion.
Facts about the Open Enrollment Period for Medicare Supplement Plans
- Only occurs once for most people. It is not annual.
- Lasts for six months and then it is gone
- Once it’s gone, you must answer health questions to change plans in most states (except for WA where you can change anytime, and Oregon, you can change for the 30-day period after your birthday each year.)
- People on Medicare under age 65 will get a rare second open enrollment for Medicare supplement later when they turn 65
How Long is my Medicare Supplement Open Enrollment?
Your Medicare Supplement Open Enrollment lasts for only 6 months
Your personal Medicare Supplement Open Enrollment period begins on the first day that your Part B becomes effective. If your Medicare Part A and Part B coverage start on June 1st, then your personal enrollment period lasts for exactly 6 months and ends on November 30th.
For most people this occurs at age 65 when they age into Medicare. However, some people delay enrollment into Part B while they are still working. Later when they retire and enroll in Part B, they will activate their Medicare Supplement Open Enrollment.
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