Beyond Medicare A & B
Once you are enrolled in Original Medicare, you will need to decide whether you want to insure yourself using a Medicare Supplements Plan or a Medicare Advantage Plan.
With a Medicare Supplement plan, you are still enrolled in Original Medicare. Medicare pays the majority of the bills and the supplement, carried by private insurance companies, pay some or all of the deductibles and coinsurance for Parts A & B, depending on the plan. To cover your prescriptions, you would then add a stand-alone Prescription Drug Plan (Part D).
What is the cost of Medicare Supplement plans?
Medicare Supplement plans offer various levels of coverage and the components of the plans are standardized nationwide. However, while the benefits in a plan do not vary from company to company, the price of that plan does vary from company to company. The insurance company may not consider your health history when setting rates for Medicare supplements. However, Maine is a community rating state which means everyone pays the same rate for a Medicare supplement plan regardless of age or health. They may charge more if you use tobacco. In New Hampshire, you pay based on age at the time of enrollment.
With Medicare Supplement plans you typically pay more up front in premium but little or nothing on the back end when utilizing Medicare approved services, depending on the plan.
Can I change my Medicare Supplements plan?
Medicare supplements are not subject to the lock-in period like the prescription drug plans or Medicare advantage plans.
What doctors can I see?
You may see any doctor who participates in the Medicare program. Some policies even offer coverage of emergency care outside the USA.
When can I join?
The first six months of your eligibility for Medicare part B is your open enrollment period. During this time, your acceptance in any of the standardized Medicare Supplement plans is guaranteed. In Maine, this is true even if you are under age 65 and on disability. If you go beyond your open enrollment period, you may be required to go through underwriting.
Learn more one on one
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