Frequently Asked Questions About Supplemental Medicare: Answers from a Supplemental Insurance Provider in Valparaiso, Indiana

Health insurance can be tricky to understand, especially when you hear terms like “supplemental Medicare.” Are you looking for some clarity on the subject? If so, you’ve come to the right place. This supplemental insurance provider in Valparaiso, Indiana is going to answer some of the most common questions about supplemental Medicare to help you get a clearer picture of this health insurance program.

Question: What is Supplemental Medicare?

While Original Medicare (Parts A and B) offers basic healthcare coverage, it does not cover everything. Supplemental Medicare, often called Medigap, is an insurance policy designed to fill those gaps, covering costs such as deductibles and copayments.

Question: How many Medigap plans are there?

There are ten standardized Medigap policies available, each labeled with a letter — A, B, C, D, F, G, K, L, M, and N (policies in Wisconsin, Massachusetts, and Minnesota have different names). While the benefits of a lettered plan remain the same across providers, the premiums can vary. It is a good idea to speak with a Supplemental insurance provider in Valparaiso, Indiana to find a plan that suits both your medical and financial needs.

Question: Can I use Medigap with Medicare Advantage?

No. Medigap and Medicare Advantage are two separate plans. If you are on a Medicare Advantage plan, you cannot buy a Medigap policy unless you switch back to Original Medicare.

Question: Does Medigap cover prescription drugs?

Most Medigap policies sold today don’t include prescription drug coverage. If you want a plan that covers the cost of prescription drugs, you may want to consider joining Part D (Medicare drug coverage).

Question: When is the best time to buy Medigap?

In most cases, the best time to buy supplemental Medicare is during your “Medigap Open Enrollment Period.” This 6-month period starts the month you turn 65 and are enrolled in Medicare Part B. During this time, you can buy any Medigap policy sold in your state regardless of your health status. After this, your options may be limited, and you could face higher premiums or even denial of coverage.

Question: Will my policy get canceled if my health worsens?

Your supplemental Medicare policy remains valid as long as you continue paying your premiums. Medigap is renewable, which means the insurance provider cannot cancel your policy based solely on your health.

Question: Can I have two Medigap policies?

No. You can only have one Medigap policy at a time. If you want to switch policies, your supplemental insurance provider in Valparaiso, Indiana will advise you to drop the current policy before getting a new one.

Question: Will my spouse benefit from my Medigap policy?

No, Medigap policies only cover one person. For both spouses to have coverage, you must buy separate supplemental Medicare policies.

Question: Can I take my Medigap policy with me if I move out of state?

If you have a standardized Medigap policy and still retain Original Medicare, your Medigap policy remains valid no matter where you are moving within the US.

Looking for a Supplemental Insurance Provider in Valparaiso, Indiana?

Having a supplemental Medicare policy helps ensure you are not caught off-guard by sudden medical expenses. Are you ready to enroll in a plan that’s right for you? If so, our experts at Senior Care Insurance Services (SCIS) are here to help. As the top-rated supplemental insurance provider in Valparaiso, Indiana, we take the time to understand your healthcare needs and financial situation, helping you find the best insurance options.

Contact us today to schedule a free consultation with our agents.