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Medicare Supplement Insurance Plans

A Medicare Supplement Insurance Plan works in conjunction with Original Medicare. While Medicare Parts A and B cover a lot of health care costs, they don’t cover all costs. A Medicare Supplement Insurance Plan covers the costs that Original Medicare doesn’t, like:

                            ✔  Coinsurance                             ✔  Copays                             ✔  Deductibles

Medicare can change these amounts each year, but Medicare Supplement Insurance Plans adjust to always cover them.

Plans are identified by the letters A, B, C, D, F, G, K, L, M, and N. Each plan covers a different set of costs. Some plans only cover basic benefits, while others cover a wider range of health care costs and benefits.

Medicare Supplement Insurance Plans do not cover hearing, dental or vision care, or prescription drugs. However, prescription drug plans are available. Some Medicare Supplement Insurance Plans cover foreign travel care.

These plans offer the same benefits for everyone. Plan G from one insurance company has the same coverage as Plan G from another company. The only differences are premiums and service. You can use any doctor, specialist or hospital that accepts Medicare.

You can enroll in a Medicare Supplement Insurance Plan year-round, but only during the open enrollment period is acceptance guaranteed. This period starts the first month that you are 65 and enrolled in Medicare Part B. After the open enrollment period, you’ll need to meet certain requirements to be accepted and may have to pay more once you’re a member.

Important Things to Remember

You can’t have a Medicare Supplement Insurance Plan and a Medicare Advantage plan at the same time.

Medicare Advantage plans are health insurance plans approved by Medicare and offered by private companies. Medicare Advantage plans are different from Medicare Supplement Insurance Plans. If you enroll in a Medicare Advantage plan, you cannot purchase a Medicare Supplement Insurance Plan.

Medicare Supplement Insurance

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    Medicare Supplement Insurance

     

    What is it?

    Medicare Supplement Insurance Plans help pay for health care costs that are not covered by Original Medicare Parts A and B. Medicare Supplement plans, which are sometimes called Medigap policies, are sold through private insurance companies. They may protect you against medical costs that are not covered or are unexpected.

    Medicare Supplement Insurance Plans are "standardized" by the government and are named by the letters A through N. Standardized means that all the companies' plans are the same. The only difference is price, reputation and customer service.

    Who is eligible and when do I enroll?

    The best time to buy a Medicare Supplement Insurance Plan is when you first become eligible, up to one year before your 65th birthday. Your coverage begins the same day that your Medicare Part B coverage starts.

    Keep in mind that you cannot be turned down because of a pre-existing condition when you first apply for a Medicare Supplement Insurance Plan.

    What else should I know?

    Keep these factors in mind when deciding if Medicare Supplement insurance is right for you.

    • Don't be confused between Medicare Supplement Insurance Plans and the Medicare parts. The Medicare Supplement Insurance Plans A through N help pay for expenses that are not covered by Medicare Parts A and B.
    • Medicare Supplement plans cover only one person. The plan gives you the freedom to choose your own doctors, specialists and hospitals.
    • Medicare Supplement Insurance Plans do not include prescription drug coverage.
    • You can't have a Medicare Supplement Insurance Plan and a Medicare Advantage Plan at the same time. If you have a Medicare Supplement Insurance Plan and decide to join a Medicare Advantage plan, you will have to drop your Medicare Supplement Insurance Plan.
    • And finally, Original Medicare may only pay 80 percent for certain coverages. You will have to pay for the other 20 percent. Look carefully at the costs of the plans to decide whether a Medicare Supplement Insurance Plan is the best plan for your needs.

Help Me Choose a Plan

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Now that you’ve picked a plan, it’s time to enroll.
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Last Updated: Aug. 21, 2023