Please contact us at 877-734-3884 for more information about Medicare Supplement plans and for quotes on particular plans from specific carriers. Depending on your state of residence, we represent many of the carriers offering these plans. Availability and pricing vary by state of residence and other factors listed below.
Medicare Supplement plans are different than Medicare Advantage plans and a beneficiary can NOT have both types of plans.
Medicare Supplement plans don't offer coverage for Outpatient Prescription Drugs (nor does Original Medicare), so you must purchase a stand-alone Medicare Prescription Drug (Part D) plan if you want coverage for outpatient drugs.
Medicare Supplement plans are identified by letters (Plans A, B C, D, F, G, K, L, M and N) except in Massachusetts, Minnesota, and Wisconsin. [Plan HiF is a variant of plan F that has a plan deductible. Standardized plans may also be offered in what is called a Medicare SELECT version.)
Each Medicare Supplement plan with the same letter must offer the same basic benefits, no matter what insurance company sells it.
Medicare Supplement policies sold by insurance companies differ by cost, underwriting criteria, value added benefits, and customer service. Premiums generally vary by age, sex, tobacco usage and zip code. Some carriers have a single "unisex" rate for both genders and some have separate rates for males and females.
Medicare Supplement insurance companies must follow federal and state laws. A Medicare Supplement policy covers only one person. If a married couple wants Medicare Supplement coverage, they must buy separate Medicare Supplement policies.
Depending on the state, some carriers offer a discount if both spouses purchase a policy (this is called a "spousal discount"), and a few carriers offer a "household discount." A "household discount" reduces the premium for a single policyholder if that person lives with a person of a certain age (usually age 60 or older), whether or not that other person purchases a policy.
Neither type of discount is available in some states, such as Florida.
Some carriers offer a discount if premiums are paid by electronic funds transfer.
The 2018 version of Choosing a Medigap Policy: A Guide to Insurance for People with Medicare is the official government publication that explains Medigap policies. This publication is updated annually after the changes to Medicare for the next year are announced. (2019 changes have been annnounced but this publication will not be updated until later in 2018 and won't be published in printed form until late second quarter 2019).
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4. What is a Medicare SELECT Plan?Answer:
Medicare SELECT is a type of Medigap policy sold in some states that requires you to use hospitals and, in some rare cases, doctors within its network to be eligible for full insurance benefits (except in an emergency). Any of the standardized plans (see question 2) can come in a SELECT version.
If you have a SELECT plan and don't use a Medicare SELECT hospital or doctor (if applicable) for non-emergency services, you'll have to pay some or all of what Medicare doesn't pay. Medicare will pay its share of approved charges no matter which hospital or doctor you choose provided the provider accepts Medicare.
A SELECT plan is less expensive than a standardized plan with the same letter designation.
SELECT plans are offered by only some carriers and only in certain states and zip codes. When these plans are offered, they're usually restricted to certain zip codes and plans, and only a small number of hospitals are usually included in the network.