Medicare Supplement (Medigap) Insurance : medicare supplemental insurance Arizona
Do you have fairly frequent doctor or hospital visits? If so, you may already know that Medicare Part A and Part B come with out-of-pocket costs you have to pay. You might be able to save money with a Medicare Supplement insurance plan. Medicare Supplement, or Medigap, insurance plans fill in “gaps” in basic benefits left behind by Original Medicare, Part A and Part B, such as deductibles, coinsurance, and copayments.
What are the features of Medicare Supplement plans?
- Helps cover some out-of-pocket costs that Original Medicare doesn’t pay.
- See any doctor who accepts Medicare patients.
- No referrals needed to see a specialist.
- Coverage that goes with you anywhere you travel in the U.S.
- Guaranteed coverage for life. *.
- As long as premiums are paid on time and there has been no material misrepresentation on the application.
Rates are subject to change. Any change will apply to all members of the same class insured under your plan who reside in your state/area.
Please note that although the names may sound similar, the “parts” of Medicare, such as Part A and Part B, are not the same as Medigap Plan A, Plan B, etc. Medigap policies don’t cover everything.
Medigap policies generally don’t cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.
Insurance plans that aren’t Medigap.
Some types of insurance aren’t Medigap plans, they include:.
- Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan).
- Medicare Prescription Drug Plans.
- Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP).
- Veterans’ benefits.
- Long-term care insurance policies.
- Indian Health Service, Tribal, and Urban Indian Health plans.
Dropping your entire Medigap policy (not just the drug coverage).
You may want a completely different Medigap policy (not just your old Medigap policy without the prescription drug coverage). Or, you might decide to switch to a Medicare Advantage Plan that offers prescription drug coverage.
If you decide to drop your entire Medigap policy, you need to be careful about the timing. When you join a new Medicare drug plan, you pay a late enrollment penalty if one of these applies:.
- You drop your entire Medigap policy and the drug coverage wasn’t creditable prescription drug coverage.
- You go 63 days or more in a row before your new Medicare drug coverage begins.
- Find a Medigap policy.
- Call your State Health Insurance Assistance Program (SHIP).
- Call your State Insurance Department.
Medicare Supplement insurance plan basic benefits.
Each Medicare Supplement insurance plan offers a different level of basic benefits, but each lettered plan must include the same standardized basic benefits regardless of insurance company and location. For example, Medicare Supplement Plan G in Florida includes the same basic benefits as Plan G in North Dakota. Please note that if you live in Massachusetts, Minnesota, or Wisconsin, your Medicare Supplement insurance plan options are different than in the rest of the country. Medicare Supplement insurance plans do not have to cover vision, dental, long-term care, or hearing aids, but all plans must cover at least a portion of the following basic benefits.