Medicare Supplement Quote

How Do Medicare Supplements Work When You Have A Pre-Existing Condition?

Written by David Maxwell

Medicare is the form of health insurance coverage widely available to those in America who are age 65 or older, and also those who have a disability and meet certain requirements. There are two parts of Medicare that most every eligible person selects and that is Part A, which covers hospitalization, and Part B, which covers medical expenses. The other nice thing about Original Medicare is the absence of networks- you can see any doctor that accepts Medicare!

What many people may not realize about Original Medicare, though, it that this program also requires deductibles, copayments and/or coinsurance on most of the services that are received. So, depending on how much you need certain health care services, you could end up being responsible for a substantial out-of-pocket cost.

The good news is that, if you are enrolled in Medicare Parts A and B, there is a way that you can help to protect yourself from some – or even all – of these out-of-pocket expenses. That is through a Medicare Supplement insurance policy.

What Is Medicare Supplement Insurance?

medicare supplementsMedicare Supplement is a type of insurance coverage that is specifically designed for covering the “gaps” in Original Medicare’s coverage. With a Medicare Supplement insurance policy, you can receive coverage for many of Medicare’s deductibles, copayments, and/or coinsurance requirements – which in turn can end up saving you thousands of dollars, or more, each year.

Medicare Supplement insurance plans are not offered by Medicare directly, but rather they are sold via private insurance companies that have been approved by Medicare. Because of that, the prices that are charged for this coverage can differ from one insurance carrier to another.

With ten styles of Medsup plans to choose from, you can go from the most basic plan is Medicare Supplement Plan A and the other plans that follow it provide a wider range of coverage.

For example, with Medicare Supplement Plan A, the following list of benefits are offered*:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after your Medicare benefits have been used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood in a year
  • Medicare Part A hospice care coinsurance or copayment

More comprehensive plans, such as Medicare Supplement Plan G, offer a longer list of benefits, such as*:

  • Part A coinsurance/hospital fees – for one year after Medicare benefits have been used
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood in a year
  • Medicare Part A hospice care coinsurance or copayment
  • Skilled nursing facility costs
  • Medicare Part A deductible
  • Medicare Part B excess charge
  • Foreign travel emergency fees – up to the plan’s limits

There is also a Medigap Plan F offering that is comprehensive in terms of benefits offered but also has a higher deductible, so that you can obtain a long list of benefits, but also not have to pay a substantial premium. With this plan, the following coverage is offered*:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after your Medicare benefits have been used up
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood in a year
  • Medicare Part A hospice care coinsurance or copayment
  • Skilled nursing facility care coinsurance
  • Medicare Part A deductible
  • Medicare Part B deductible
  • Medicare Part B excess charge
  • Foreign travel exchange – up to plan limits (80 percent)

With the Medicare Supplement Insurance Plan F high deductible plan, you would pay for your Medicare-covered costs, up to the deductible amount, which in 2017, is $2,200. Once the deductible has been paid, the Medicare Supplement insurance benefit would begin.

Even if you have a pre-existing health condition, you may still be able to qualify for a Medicare Supplement insurance plan – depending upon when you apply for your coverage. In fact, if you apply during your initial open enrollment period, you cannot be turned down for the coverage that you want, nor can you be charged an additional amount of premium for the plan.

Will You Qualify For A Medicare Supplement Insurance Policy?

As with most any other type of insurance policies, it may require that you go through an underwriting process to determine whether you will qualify for the plan that you’ve chosen.

But, if you apply for Medicare Supplement insurance coverage during your initial open enrollment period, the insurance company cannot deny you the coverage, and they cannot charge you a higher premium rate.

Your open enrollment period will begin the first month in which you are age 65 and that you are enrolled in Medicare Part B. The open enrollment period will last for six months. During this six month window of time, you will have the guaranteed right to buy any Medicare Supplement insurance plan that is offered in your state, regardless of your current health condition.

If, however, you wait until your open enrollment period has expired to apply for Medigap coverage, it is possible that you could either be charged a higher premium amount or that you can be denied coverage altogether if you have a pre-existing condition. With that in mind, it is important that you apply for Medicare Supplement insurance during this period in order to ensure that you will be able to qualify.

Which Medicare Supplement Plan Is Right For You?

Because there are ten different Medicare Supplement insurance plans to choose from, determining which one is right for you can take a good understanding of what each one does and does not offer – and then basing that with your anticipated health care needs.

For example, if you have always been in relatively good health and you are still currently healthy and active, Medicare Supplement Plan A could be a good option for you, as it offers just a core set of benefits, typically at a reasonable premium price.

If, however, you have needed more health care services in the past and/or you anticipate needing more care in the future, then it may be good to consider a more comprehensive Medicare Supplement insurance plan such as Plan F or Plan G.

Before making any decision on the best Medicare Supplement insurance plan, it is also important to shop and compare the premium rates that are charged by different insurance companies. This is because, even though all of the Medicare Supplement insurance plans of the same letter are required to offer the very same benefits, the prices that are charged can differ – sometimes substantially – from one insurance company to another.

In addition, while there are many different private insurance companies that offer Medicare Supplement insurance plans, not all are the same. So, it can also be important to ensure that you know whether or not the insurance company has a long history in the Medicare Supplement insurance arena, and if so, if – or how often – the insurance company has raised its premium rates in the past.

Doing all of the necessary research on Medicare Supplement insurance plans can be somewhat time-consuming – especially if you contact each insurance company individually. Therefore, it can be helpful to work in conjunction with a specialist in the Medicare Supplement insurance field, and that is also an independent insurance agency or brokerage (as versus a company or agency that only offers Medicare Supplement insurance plans from just one insurer). That way, you will be able to compare plans and prices in an unbiased manner, and from there you can determine which one will be the best for you and your specific needs.

How To Find The Best Rates On Medicare Supplement Insurance Coverage

If you are in the market for Medicare Supplement insurance coverage, we can help. We are an independent insurance specialist, and we work with many of the top Medicare Supplement providers in the country. Because of this, we can provide you with the various pricing information that you need, as well as help in directing you to the Medigap plan that may best fit your specific needs.

We can do so for you quickly and easily, all from your computer, and without you having to go and meet in person with an insurance agent. If you are ready to move forward with obtaining this important information, then just simply take a minute to fill out the quote form on this page.

If you find that you still have any additional questions regarding how to get Medicare Supplement insurance is you have a pre-existing condition – or, even if you just have a question about Medicare Supplement insurance in general – then please feel free to contact us directly. Our experts are here and can help to walk you through the process of selecting the right Medicare Supplement insurance coverage for you. We can be reached via phone, toll-free, by calling 864-332-4209.

We understand that purchasing Medicare Supplement insurance coverage can be somewhat confusing. There are many different plans that you can choose from – and you want to be sure that you are going with the one that is best for you. We will help you through the entire process, and make sure that you know exactly what you are purchasing. So, contact us today – we’re here to help.

*Coverage items are from the official Medicare.gov website

About Growth 360, LLC
About Growth 360, LLC

We work with individuals across the nation to secure the best Medicare Supplement rates.

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