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Understanding Medicare Supplement Insurance Plans in Idaho
There’s no doubt there are intricacies when it comes to Medicare Supplement Insurance plans. These can create gaps of understanding. Likewise, changes in how we live, and our healthcare coverage needs have left “gaps” of their own in the form of copayments, coinsurance and deductibles.
Filling some of the health care “gaps” is possible with a Medicare Supplement Insurance plans. Also referred to as Medigap, Medicare Supplement Insurance plans fill the “gaps” for what’s not covered by Medicare Parts A and B. Adding a Medicare Supplement Insurance plan can help curb out-of-pocket costs. Medigap is available from private insurance companies throughout the state of Idaho.
Idaho residents have 8 Medigap or Medicare Supplement Insurance plans from which to choose. These include basic benefits from plans A, B, D, G, K, L, M and N. Medigap plans C, E, F, H, I and J are no longer available to those who are newly eligible to Medicare but enrollees in these plans are grandfathered into them.
As of 2020, Medicare Supplement Insurance plans will no longer sell Medigap plans C or F to newly eligible Medicare members. Congress has decided that new Medigap plans will no longer be allowed to cover the Part B deductible after January 1, 2020. This will only affect Medicare Supplement plans C and F as these are the only Medigap plans that cover the Part B deductible. Anyone enrolled in a Medigap plan C or F as of December 31, 2019, will be grandfathered and will be able to continue to use their plan as long as they want.
Idaho residents looking for the most popular Medicare Supplement Insurance plans need to first look at their specific coverage needs to determine what Medigap plan to consider.
Most Popular Medicare Supplement Insurance Plans in Idaho
The 8 government-approved Medicare Supplement Insurance plans help protect consumers in most states, including Idaho. The statistics below offer a view of the most popular Medigap Supplement plans selected by residents of Idaho. All insurance companies that sell Medigap plans offer the same basic benefits, but those plans may come at different prices. Each insurer in Idaho may not offer each of the available Medigap plans.
As reported by AHIP, among those who selected a Medigap policy, the majority (59%) choose Plan F, 23.8% choose Plan G and 7.9% choose Plan N. Below is the breakdown of the number of Idaho enrollees by Medigap plan type.
Source: AHIP. Reflects data through December 31, 2017.
Source: AHIP. Reflects data through December 31, 2017.
While a Medigap policy will help pay for things like copayments, coinsurance and deductibles not covered by Medicare Parts A and B, it is important to note that your Idaho Medicare Supplement Insurance plan will not cover benefits for prescription drugs. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs. Another option is to consider an Idaho Medicare Advantage plan, which typically covers prescriptions drugs and may also include other benefits, such as dental, vision and hearing coverage and gym memberships.
Learn more about your Medicare Supplement Insurance plan options in Idaho by working with a SelectQuote licensed sales agent. Acting as your advocate, our licensed sales agents can guide you through the Medicare maze to better understand Medigap plan options and answer any questions you might have throughout the process. SelectQuote individually shops more than 20 national insurance companies to help you compare Medicare plans in Idaho.
Idaho residents cannot be enrolled in a Medicare Supplement (Medigap) Insurance plan and a Medicare Advantage plan at the same time. A Medigap plan also cannot be used to pay for any expenses for a Medicare Advantage plan.
Idaho Medicare Supplement Plan Enrollment Period
Initial enrollment timeframes are very important. Enrollment for Medicare Supplement Insurance plans in Idaho begins the first day of the month you turn at least 65 years old. You can make important changes as early as 64 and 6 months of age. Therefore, it’s beneficial for residents in Idaho to enroll as soon as they are eligible. Additionally, you must be enrolled in both Medicare Parts A and B in order to get a Medigap plan.
Idaho residents have six months to buy a Medicare Supplement Insurance plan. Idaho residents under the age of 65 can check with the Social Security Administration office for additional enrollment periods.
The best time to enroll in a Medicare Supplement Insurance plan is during the initial 6 months you are eligible for Medicare. During this important six-month period, companies that offer Medicare Supplement Insurance plans cannot use underwriting. In other words, during this timeframe your acceptance is guaranteed. However, if you apply for Medicare Supplement Insurance outside of this 6-month timeframe, you will be subject to a physical exam. If you apply for Medigap coverage after the first six months of eligibility, a company can refuse to sell you a plan or premiums may also adjust depending on current health status and pre-existing health conditions.
Is an Idaho Medicare Supplement Insurance Plan Right for You
Talking with a SelectQuote agent is a great way to ensure you’re getting all the available insurance benefits you deserve. Our licensed sales agents also help you stay up to date with annual updates to Medicare plans made by insurance companies. As a trusted independent third-party company, SelectQuote helps Idaho residents find the right Medicare Supplement Insurance plan for their needs.
To ensure you are getting all the benefits you are entitled to receive, call or complete your online form today. Let SelectQuote’s personal licensed sales agents simplify the Medicare maze by comparing rates and independently shopping insurance companies to help you find an affordable option that meets your unique needs.