Medicare Supplement Plans


Medicare Supplement (Medigap) plans cover some of the health care costs Original Medicare leaves behind. These plans fill the gaps in your health care coverage including copayments, deductibles, and coinsurance. As a result, when you have a Medicare Supplement plan, you are left with little to no out-of-pocket costs for Medicare-covered services and equipment.

What Are Medicare Supplement Plans?

Medicare Supplement plans are supplemental insurance policies that cover health care costs that Medicare Part A and Part B leave behind. This means that health care providers bill Medicare first and charge the remaining amount to the Medicare Supplement carrier.

Medicare Supplement plans have no networks. So, if a provider accepts Original Medicare, they will always accept your Medicare Supplement plan regardless of carrier.

Medicare Supplement plans are standardized by the federal government, meaning benefits for each plan are consistent across all Medicare Supplement insurance companies. Before you begin to compare Medicare Supplement plans, it is helpful to familiarize yourself with the pricing methods carriers use.

The pricing method your carrier uses can affect your rates and how they increase over time. Additionally, it is important to note that if you have a Medicare Supplement policy and your spouse needs coverage as well, they must buy a separate policy.

Medicare Supplement Plan Premium

Medicare Supplement prices and premiums vary by the ZIP Code and carrier. This means the same plan may cost more in one ZIP Code than another or from one carrier to another. Depending on the type of Medicare Supplement plan you choose, the average monthly premium can range between $40-$300.

Several factors determine your Medicare Supplement plan’s premium. Depending on your health and budget needs, a Supplement plan could save you from high unexpected medical costs. Although premium price is an important factor when choosing a Medicare Supplement plan, it is not the most important factor. You also want to consider coverage and out-of-pocket expenses.

How to Enroll in a Medicare Supplement Plan

You are Medicare-eligible if you are a U.S. citizen or legal resident for at least five years and age 65 or above. If you are under 65 and meet the first qualification, you’re eligible for Medicare if you collect Social Security Disability benefits for at least two years, or have been diagnosed with ESRD or ALS. Once you enroll in Medicare Part A and Part B, you can enroll in a Medicare Supplement plan

The best time to enroll in a plan is during your six-month Open Enrollment Period. This enrollment period begins with your Medicare Part B effective date.

When you enroll in a Medicare Supplement plan during this time, you have guaranteed issue rights. This means pre-existing conditions cannot play a role in your admittance to the plan. Carriers cannot decline your coverage based on your health history. However, you may still enroll in a Medicare Supplement plan outside of this window, but you may be subject to health questions.

Medicare Supplement Comparison Chart 2022

Medicare Supplement Plans Comparison Chart 2022

Medigap plan benefits can include coverage for Medicare Part A and Part B deductibles, coinsurance, foreign travel emergency, and more. Benefits vary depending on the plan in which you enroll.

You can compare Medicare Supplement plans online, but our licensed Medicare agents can help you understand the differences between the Medicare Supplement plans available to you. Additionally, we can give you accurate premium quotes for the plans from the carriers you are interested in.

FAQs

What is Medicare gap insurance?
Medicare gap insurance is a Medicare Supplement (Medigap) plan. The name comes from the fact that these policies fill in the gaps in coverage that Medicare leaves the beneficiary to pay out-of-pocket.
When can you get supplemental Medicare insurance?
Once you enroll in Medicare Part A and Part B, you’ll have a six-month window to enroll in a Medicare Supplement plan without having to answer health questions. Once this window passes, you can still enroll in a plan at any time. However, you will need to go through medical underwriting.
How do Medicare Supplement plans work?
Medicare Supplement plans work by covering out-of-pocket costs for which you are responsible after Medicare pays their portion of your medical costs. Your practitioners always bill Medicare first. When you have a Medicare Supplement plan, the carrier is billed for the remaining balance.
Can I have two Medicare Supplemental plans?
No, you cannot have more than one Medicare Supplement plan. Agents and carriers cannot sell more than one plan to an individual beneficiary. Also, you cannot have a Medicare Supplement plan and a Medicare Advantage plan at the same time. You must choose one or the other.
Can a doctor refuse a Medicare Supplement?
If a doctor accepts Original Medicare, they must accept your Medicare Supplement plan.

How to Pick a Medicare Supplement Plan in 2022

If you're considering adding a Medicare Supplement plan to your Medicare benefits, give us a call at the number above.

If calling now is not an option, complete our online rate form and one of our agents will reach out to you with your individualized quotes. Our agents will need to collect some additional information so we can provide you with the most accurate rate quote on all your supplemental options.

Once you submit the required information, we will be able to pull all the plans available in your area with all the top carriers, taking into account your information and health history. Why wait? Our services are 100% free of charge and could save you money on your monthly Medicare premiums.

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Sources:

  1. When Can I Buy Medigap, Medicare. Accessed February 2022.
    https://www.medicare.gov/supplements-other-insurance/when-can-i-buy-medigap
  2. Medigap, Centers for Medicare and Medicaid Services. Accessed February 2022.
    https://www.cms.gov/Medicare/Health-Plans/Medigap

Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

4 thoughts on “Medicare Supplement Plans

  1. I have BCBS Medigap Plan F. The medical is 100% coverage of A and B. My problem is getting best Prescription, Dental, and Vision. My medicL is $208 monthly. Please advise!

    1. Hi Kristine – for prescription drug coverage to pair with your current coverage, you’ll need a Part D policy. You can also obtain bundled dental/vision/hearing coverage through an ancillary policy in addition. The costs for these plans vary by geographic area. To explore options, you can fill out our online rate form.

  2. we had Transamerica supplement insurance until 1/1/2021 and our agent said that medica would be a better insurance, and it is not. can he get back on the plan he had before?

    1. Hi Michael! Unfortunately, this is very common & beneficiaries end up learning the hard way. You can enroll in a Medigap plan at any time of the year. The only issue is if you have any pre-existing conditions you could be denied. Give us a call and we can help figure out how to get you back on the plan you had or equivalent.

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