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424 W Plane St. Bethel, OH 45106 – See Our Reviews Here
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With Medicare Part B, 80% of your outpatient service expenses are covered. The other 20% that is not covered can be disastrous to you financially if a serious illness arises. A Medicare Supplement Plan, also called a Medigap Plan, is sold by a private insurance company, and will pay some or all of that 20% for you. Some plans also have additional benefits such as coverage of medical care outside of the U.S.
For the most part, Medigap policies do not cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.
Federal and state laws concerning Medigap policies are designed to protect you, and each policy must clearly be labeled as “Medicare Supplement Insurance.” Insurance companies can only sell you standardized policies, identified by letters A, B, C, D, F, G, K, L, M, N. Some policies will offer you benefits that other policies do not cover, but all cover the same basic benefits.
For example, Medicare supplement Plan N at Aetna has the same benefits as Plan N from United Healthcare.
Medicare Supplement plans are organized under different letters. Here is a chart to show you the different benefits:
* You may be able to get a high-deductible Plan F in some states. With a high-deductible plan, you must pay for Medicare-covered costs up to the deductible amount of $2,340 in 2020 before your policy pays.
** For Plan K and L, your Medigap plan pays 100% of covered services for the rest of the calendar year after you meet your out-of-pocket deductible and your yearly Part B deductible.
*** Plan N pays 100% of the Part B coinsurance, except for a copayment up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
During your one-time open enrollment window, you can choose any Medicare Supplement plan. Insurance companies are not allowed to ask you any medical questions. They also are not able to turn you down due to any health conditions. Pre-existing illnesses, medications, or other health conditions will not play a part in how much they can charge you.
Your one-time open-enrollment window begins on the first day of your birth month, or the first day of the month you enroll in Part B. After the first day, the enrollment window stays open for the next six months.
After six months go by, insurance companies can look at your health and accept or decline you based on different criteria. This is why enrolling is crucial to do during your one-time open enrollment window.
Please note: the Annual election period is different from open enrollment. The Annual Election Period in the fall pertains to Medicare Part D.
You can apply for a change to your Medicare Supplement whenever you like, but, if are changing your coverage after open enrollment, then you will most likely be asked health questions. The Medicare supplement insurance company will review your answers as well as your health and medication history. Based on their findings, they can accept or decline you.
We are Independent Medicare Insurance Agents who Help Seniors Clarify Their Medicare Goals and Get a Great Deal on Coverage While Providing High-Quality Customer Service:
𝘼𝙩𝙩𝙚𝙣𝙩𝙞𝙤𝙣 Seniors!!
Did you know…
People turning 65 can get Medicare coverage from over 30+ companies with no health questions?
Here’s how it works
When someone turns 65 or enrolls in Medicare Part B for the first time (whichever comes later) they become eligible for the Medicare Initial Open Enrollment Period.
The signup period begins 3-6 months before starting Part B (age 65 for most) and continues for 3-6 months after Part B starts.
This means that any and all Medicare Supplement plans must accept you regardless of previous health status.
Medicare Supplement Plan benefits are standardized, the only difference is PRICE!
Insurance companies offer the same plan letters (A,B,C,D,F,G,K,L,M, or N) and the benefits with each company compare apples-to-apples…
Medicare Supplement (otherwise known as Medigap) plans are renewable for life. No requirement to change each year.
All standard Medicare Supplement plans are accepted by any doctor that accepts Medicare NATIONWIDE
Medicare Advantage and Part D plans have Annual Enrollment periods and change yearly.
Let us show you how to compare plans and take the headache out of getting set up in one easy step!
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