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Medicare Supplements

Medicare supplements, aka Medigap, are optional coverage that you can purchase to fill in the gaps in Medicare. You don’t sign up for these at the Social Security office. You will select your supplemental coverage after you’ve joined Medicare and received your new Medicare card via mail. This is where our agents come in – we help folks like you pick the right supplemental and drug plan options. Our service is free of charge.

They’re called supplements because they enhance your Original Medicare benefits. Medicare will pay its share, and you’ll pay yours. 

Our agency is here to answer common questions about Medicare supplements and explain your options.

Is Medicare Supplemental Insurance Really Necessary?

It’s optional, but without any supplemental insurance, you’d be liable for expensive hospital deductibles and copays. Plus, you’d incur 20% of the cost of all outpatients services, like chemotherapy and surgeries. These services can be financially destructive if you don’t have some form of supplemental coverage. 

If a Medicare supplement is out of your budget, consider a Medicare Advantage plan with lower premiums. The premiums are lower because you consent to use a network of providers in your local area.

When Can You Change Medicare Supplements?

You can drop or apply to change your supplement at any time. But, if you’re past your open enrollment period, you’ll have to respond to health questions in most states. 

The insurer will review your health and medication history. They can accept or deny you.

What Else Do I Need to Know?

  • You must have Medicare Part A and Part B to purchase a Medigap policy.
  • Medicare supplements only cover one person. So, your spouse must get his or her own individual policy.
  • The average cost for Medicare supplement policies will vary by state. Most companies base their rates on zip code, age, gender, and tobacco usage. To get quotes in your own zip code, call (316) 260-3331. 
  • The annual election period in the fall is only for drug plans. The best time to purchase a supplement policy is during your one-time open enrollment window. 
  • Medigap plans don’t include Part D, so you’ll add a separate, stand alone drug plan.
Guaranteed Issue for Medicare Supplement Plans

Some folks delay enrollment into a Medicare supplement since they have group health coverage through an employer. When you retire later or lose that coverage, you may purchase certain Medigap policies within the 63 days after the loss of your group coverage. This is known as your Medicare supplement guaranteed issue rights. 

The guaranteed issue period is like open enrollment but shorter, and your plan choices are restricted to Plans A, B, C, F, K, and L. The carrier can’t decline your application for any health reasons. Guaranteed issue rules can differ by state, so check with a licensed agent who can tell you about the laws that pertain to your state. 

For more information, continue browsing our website. You can also give us a call at (316) 260-3331.