News & Articles Category: Medicare Supplement
When Can You Change Your Medicare Supplement Plan?
You can technically apply to switch at any point. However, changing your Medicare Supplement plan might involve more scrutiny. Insurers could deny coverage based on your health history, charge higher premiums for pre-existing conditions, or impose waiting periods.
When You Have Guaranteed Issue Rights
There are special cases â usually within 63 days â when insurers must accept your application:
⢠Youâre in your Medigap Open Enrollment Period (first 6 months of Part B at 65).
⢠Your Medicare Advantage plan is ending, leaving your area, or youâre moving back to Original Medicare.
⢠Youâve lost other coverage, like a retiree or employer plan.
⢠Your Medigap company misled you or went bankrupt.
Steps To Safely Switch Plans
1. Apply for the new plan first â donât cancel your current one until approved.
2. Wait for confirmation, then set your start date.
3. Cancel your old plan in writing to avoid double bills.
When To Consider Switching
⢠You want lower premiums.
⢠Youâre paying for extras you donât use.
⢠You moved to a state with different plan costs.
⢠Your health or finances have changed.
Why It Matters
Whether youâre wondering âhow do I change my Medicare Supplement plan?,â âcan you change your Medicare Supplement plan?,â or âcan you switch Medicare Supplement plans easily?,â the answer is yes â but with caution. Approval isnât guaranteed unless youâre in a protected switch.
News & Articles Category: Medicare Supplement
What Do Medicare Supplement âPlusâ Plans Cover?
These plans help fill Medicareâs coverage gaps â and some offer added perks.
Original Medicare only pays for about 80% of approved costs. A Medicare Supplement insurance policy (Medigap) helps with the rest. Some insurers also offer a âPlusâ version, adding benefits you donât find in standard Medigap plans. For those who value predictability, flexibility, and added value, a Medicare G Plus plan might be worth exploring.
Whatâs Covered In Standard Medicare Supplement Plans:
⢠Part A hospital costs & coinsurance: Up to an extra 365 days.
⢠Part B coinsurance/copayments: Often pays the 20% Medicare doesnât.
⢠Blood (first 3 pints): Covers the initial pints needed.
⢠Skilled nursing facility coinsurance: Up to 100 days.
⢠Part A deductible & hospice coinsurance: Reduces out-of-pocket costs.
⢠Part B excess charges: Helps with charges above Medicareâs standard rates.
⢠Foreign travel emergencies: Often covers 80% up to certain limits.
What âPlusâ Plans Add (Example For Select States):
⢠Dental: Exams, cleanings, fillings, and X-rays.
⢠Vision: Eye exams and allowances for glasses or contacts.
⢠Hearing: Hearing exams and discounts on hearing aids.
⢠Fitness: Programs like SilverSneakers.
⢠24/7 nurse line: Speak with a nurse anytime.
Freedom & Flexibility Built In
⢠No network restrictions: See any doctor or hospital nationwide that takes Medicare.
⢠Guaranteed renewability: Your coverage wonât be dropped due to health.
⢠Predictable costs: Manage medical expenses without surprises.
News & Articles Category: Medicare Supplement
For many Illinois seniors, foreign travel is an exciting part of retirement. Will your Medicare Supplement provide coverage on your journey? Most plans do not provide coverage while traveling outside of the United States. However, some do.
Plans
For all travel outside of the U.S., coverage is provided by plans F, G, and Plan N.
Coverage
With any of the above plans, you have coverage that begins during the first 60 days. The plan will pay 80 percent of the billed charges for necessary services outside of the U.S. after you pay a $250 deductible. There is a lifetime limit of $50,000. Plans are available with no underwriting only during your Initial Enrollment period. If you may be traveling abroad during retirement, prepare ahead by choosing a plan that provides coverage.
In Rare Cases, Medicare Pays
Medicare may pay up to 80 percent for services covered even while you are out of the country. Foreign hospitals are not required to submit claims to Medicare. You will need to submit an itemized bill to be reimbursed.
Medicare Pays for Inpatient Care, Ambulance Services, and Dialysis Treatment
In the United States when a medical emergency occurs and a foreign hospital is closer than a U.S. hospital.
Traveling through Canada en route to Alaska and a Canadian hospital is closer than a U.S. hospital.
On a ship within territorial waters adjoining lands of the U.S. but within 6 hours of a U.S. port.
Live in the U.S. and have a medical emergency, but a foreign hospital is closer than a U.S. hospital.
References:
https://www.medicare.gov/supplement-other-insurance/medigap-and-travel/medigap-and-travel.html
https://www.medicare.gov/coverage/travel-need-health-care-outside-us.html
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News & Articles Category: Medicare Supplement
There are many reasons why you may want to change your Medicare Supplement. You could be paying for coverage you donât need, or, want more. Maybe you need to change insurance companies or switch to a less expensive plan.
Requirements
To change plans you must be within your open enrollment period that provides you with a Guaranteed Issue Right. You can purchase any plan without being denied coverage, or being charged more due to a pre-existing condition. This period lasts for six months, starting when you first join Part B. If you are within your six-month period, you can change without any restrictions. As soon as this period ends, your guaranteed issue right ends. If you have health conditions, plans could cost more, and companies can deny coverage after your open enrollment period.
Exceptions
There are exceptions to the rule, and times when you have a guaranteed issue right to enroll or change plans outside of open enrollment. If your current coverage misleads you or isnât compliant with the law, you can change plans with no restriction. If the insurance company providing your coverage declares bankruptcy, you can change. If you drop a plan to enroll in Medicare Part C but donât like it, you have up to a year to switch back to a Medicare Supplement with a guaranteed issue.
Free Look
You have 30 days to decide if you want to keep the coverage. This Free Look period starts when you first get a new plan and ends 30 days later. Do not cancel your old policy until you are certain you want to keep the new plan. You will be responsible for paying both premiums for one month if you choose to use this right.
Older Plans
Plans sold before January 1, 2006, included prescription drug coverage. New plans do not. Many are no longer offered. If you have an older policy and want to change, understand you may not be able to carry these benefits over to the new plan.
References:
https://www.medicare.gov/supplement-other-insurance/when-can-i-buy-medigap/switching-plans/switch-medigap-.html
https://www.medicare.gov/supplement-other-insurance/when-can-i-buy-medigap/guaranteed-issue-rights-scenarios.html
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News & Articles Category: Medicare Supplement
Many seniors want to know the difference between a Medicare Supplement and Medicare Advantage Plans. These two plans have different coverage and benefits to fit each individual’s needs and budget.
Medicare Supplement
Medicare Supplement Plans are offered through private insurance companies in IL. These plans help pay for costs not covered by Medicare, like deductibles, copayments, and coinsurance. There are no networks and you are free to use any doctor or healthcare provider you choose who accepts Medicare.
Medicare Advantage
Part C is offered through private insurance companies approved by Medicare. When you join a plan, you still have Medicare coverage. Part A and B benefits are provided through the insurance company. Many plans offer low or zero monthly premiums. Most plans have additional benefits not provided by Medicare including prescription coverage and dental and vision care.
References:
Medicare Advantage: https://www.medicare.gov/sign-up-change-plans/medicare-health-plans/medicare-advantage-plans/how-medicare-advantage-plans-work.html
Medicare Supplement: https://www.medicare.gov/supplement-other-insurance/medigap/whats-medigap.html
Extra: https://www.medicare.gov/supplement-other-insurance/medigap/medigap-and-medicare-advantage/medigap-and-medicare-advantage-plans.html
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