Things you should know about Medicare Supplement Plans

Things you should know about Medicare Supplement Plans – Medigap coverage

  • You need to be enrolled in Medicare Part A and Part B (and yes, you must continue to pay the Part B premium).
  • These plans provide coverage anywhere in the U.S. with providers who accept Medicare and are taking new clients.
  • These plans don’t include prescription drug coverage.  You will most likely want a Part D plan to go with your Medicare supplement. (We also do Part D plans!)
  • The premiums on these plans can differ from carrier-to-carrier; most differ by age and can go up annually.
  • A Medicare Supplement plan only covers one person.  Spouses must buy a separate policy.
  • The best time to purchase is within your 6 month open enrollment period.
  • Plans are guaranteed renewable from year to year as long as beneficiaries pay their premiums when due.
  • If you select a Medicare Supplement and decide to drop it at a later date for a Medicare Advantage plan (Part C), you may not be able to get it back in the future.
  • After the open enrollment period, you must answer a series of medical questions and may be declined in certain circumstances.

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