Medicare supplemental insurance is an after-thought for many Arizona folks facing their first Medicare enrollment period. Also known as Medigap, the Medicare supplemental insurance plans are essential for anyone on the cusp of Medicare eligibility.
If you are an Arizona resident with your 65th birthday close on the horizon, you might be just starting your research of Medicare and the supplement insurance sold to fill in the gaps of Medicare provision.
At Anderson Insurance Service in Scottsdale, AZ we strive to help our aging residents find the best health insurance coverage possible and understand the nuances of Medicare supplemental care.
Let's delve into how Medicare and Medicare supplemental insurance work in Arizona.
What is Medicare Supplemental Insurance
Medicare is broken out into four parts: A, B, C, & D.
Medicare Part A provides hospital insurance for unexpected visits to the ER, hospital stays, hospices, etc.
Almost every Arizona resident qualifies for Medicare part A just by turning 65. Even if you are a physically fit senior who feels 40 and still works, enrolling in Medicare will help with any future emergency medical needs.
Medicare Part B covers doctor visits, preventative services, and outpatient care, and is vital to those with ongoing medical issues.
Medicare Parts C & D are considered part of an Advantage plan which is offered to patients via private companies. This "advantage" helps with prescription drug coverage.
Medicare acceptance begins three months before one's 65th birthday and closes within four months of a birthday. It's important to obtain Medicare supplemental insurance during the open enrollment period for Medicare.
A Medicare supplemental insurance plan differs from regular health care insurance as it is meant to fill in the gaps that Medicare does not provide. There are at least eleven different types of Medicare supplement insurance plans available. Research the various plans to select one that fits your medical needs and budget.
What to Look for When Choosing a Medicare Supplemental Insurance Plan
After you've enrolled in Medicare, the next step is to discern what Medicare supplemental insurance is needed, and what type of plan will fit your budget.
Once you have purchased a supplemental plan, the provider will not cancel you! "Any standardized Medicare supplemental insurance policy is guaranteed renewable even with pre-existing health problems."
Learn more: How Medicare works with other insurance
Most long-term care, vision, dental, and hearing aid needs are covered by Medicare. However, many Medicare supplemental insurance policies cover out-of-pocket expenses such as co-pays that Medicare does not provide.
How Medicare Supplement Insurance Plans Work
The eleven Medicare supplemental insurance plans available are also broken down by letters. Plans are A, B, C, D, F, G, K, L, M, and N. It sounds confusing, but our experts at Anderson can help navigate through the details.
Note that the more extensive the "gap" coverage, the more expensive the plan. The cost is not set, though, and there can be a slight increase depending on the carrier chosen.
For the most part, Medicare supplemental insurance plans kick in after Medicare coverage. Uncovered expenses such as co-pays immediately transfer to your supplemental provider. And, depending on the supplemental plan you choose, remaining hospital stay expenses, etc. not included in a Medicare plan are covered by Medicare supplemental insurance plans.
Medicare Supplemental Insurance Plans Chase You as You Chase Your Retirement Dreams
If you've always dreamed of traveling the world after retirement, don't let your minor health conditions stop you! While greater health issues can hamper your trips, minor setbacks don't have to do so. Medicare Advantage plans do not cover extensive travel. But, many Medicare supplemental insurance plans offer overseas coverage!
Watch Out for Medicare Supplement Scams
Also, look for reputable insurance carriers for your Medicare supplemental insurance needs. Steer away from any health insurance agent that does not have a good reputation, or that offers "too good to be true" coverage and cheap premiums.
It is illegal for a health insurance broker or agent to sell you a second Medicare supplemental insurance package on top of an existing supplement policy. And, beware of any health insurance agent or broker who tells you that you can purchase a policy on top of Medicare Advantage.
Do not engage with telephone solicitors from other regions. Medicare supplemental insurance policies vary from state to state. For instance, Wisconsin and Massachusetts offer supplement plans that differ from those available in Arizona. Also, Medicare Supplemental Insurance Plan F will no longer be available after 2019. Consult an insurance broker at Anderson to find the perfect plan for you.
Get Help from an Arizona Licensed Insurance Broker
Working with an Arizona health insurance broker is the best way to help you navigate the many Medicare supplemental insurance options available in Arizona. Health insurance brokers can help you find quality plans at an affordable rate.
Call us to schedule your free consultation.