medicare supplement plans Arizona
medigap policies don’t cover everything
Medigap policies generally don’t cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.
Insurance plans that aren’t Medigap
Some types of insurance aren’t Medigap plans, they include:
- Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan).
- Medicare Prescription Drug Plans.
- Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP).
- Veterans’ benefits.
- Long-term care insurance policies.
- Indian Health Service, Tribal, and Urban Indian Health plans.
Dropping your entire Medigap policy (not just the drug coverage).
You may want a completely different Medigap policy (not just your old Medigap policy without the prescription drug coverage). Or, you might decide to switch to a Medicare Advantage Plan that offers prescription drug coverage.
If you decide to drop your entire Medigap policy, you need to be careful about the timing. When you join a new Medicare drug plan, you pay a late enrollment penalty if one of these applies:.
- You drop your entire Medigap policy and the drug coverage wasn’t creditable prescription drug coverage.
- You go 63 days or more in a row before your new Medicare drug coverage begins.
- Find a Medigap policy.
- Call your State Health Insurance Assistance Program (SHIP).
- Call your State Insurance Department.
Medicare Supplement insurance plan basic benefits.
Each Medicare Supplement insurance plan offers a different level of basic benefits, but each lettered plan must include the same standardized basic benefits regardless of insurance company and location. For example, Medicare Supplement Plan G in Florida includes the same basic benefits as Plan G in North Dakota. Please note that if you live in Massachusetts, Minnesota, or Wisconsin, your Medicare Supplement insurance plan options are different than in the rest of the country. Medicare Supplement insurance plans do not have to cover vision, dental, long-term care, or hearing aids, but all plans must cover at least a portion of the following basic benefits:.
- Medicare Part A coinsurance costs up to an additional 365 days after Medicare benefits are exhausted.
- Medicare Part A hospice care coinsurance or copayments.
- Medicare Part B coinsurance or copayments.
- First three pints of blood used in a medical procedure.
Some plans include additional basic benefits. For example, Medicare Supplement Plan F, the most comprehensive standardized Medigap insurance plan, carries the following additional benefits:.
- Medicare Part A deductible.
- Medicare Part B deductible.
- Part B excess charges.
- Part B preventive care coinsurance.
- Skilled Nursing Facility (SNF) care coinsurance.
- Foreign travel emergency care (80% of Medicare-approved costs, up to plan limits).
Some plans may include additional innovative benefits.
Medicare Supplement insurance plan costs.
Although private insurance companies are required to offer the same basic benefits for each lettered plan, they do have the ability to charge different premiums. You might want to shop around to find a Medicare Supplement insurance plan that may fit your medical and financial needs. Insurance companies may price their plan premiums in any of the following ways:.
- Community no-age-rated: These Medicare Supplement insurance plans charge premiums that are the same across the board, regardless of age.
- Issue-age-rated: These plans base their premiums on your age when you first enrolled in the policy. Therefore, the younger you are when you enroll in this type of plan, the lower your premium will be.
- Attained-age-rated: Like issue-age-rated, these plans base their premiums on the age you were when you first bought a policy, but unlike issue-age-rated, premiums increase as you get older.
Please note that no matter what rating method an insurance company uses, premiums may increase over time for reasons other than age, such as inflation.