Frequently Asked Questions
Many consumers might be unsure about the benefits of Medicare. In hopes of clearing up some of the confusion, here are some frequently asked questions about Medicare supplemental insurance plans, and answers explaining this coverage:
- There are 10 Medicare supplement insurance plans assigned letters (A to N). These plans were put in place to supplement original Medicare and can also be referred to as Medigap policies or plans. The must follow federal and state laws which are designed to protect consumers.
- The two most common Medicare supplement plans are F and G, as they are the most comprehensive plans. Consumers can buy a Medicare supplement insurance plan from an insurance company that is licensed to sell one in their state.
- All Medicare supplement plans are standardized and therefore identical from one carrier to another.
- Medicare supplement plans differ from original Medicare, offering consumers some additional benefits, like coverage for 20 percent coinsurance.
- However, Medicare supplement insurance does not provide coverage for drugs. Consumers can join a Medicare prescription drug plan (Part D), which is offered by private companies approved by Medicare, if they want prescription drug coverage.
- Yes, carriers of Medicare supplement plans can ask health questions before a policy can be approved.
However, there are a number of circumstances in which a carrier is not allowed to ask health questions, including if you are new to Medicare or you have lost credible coverage through no fault of your own.
- There is a lot of speculation that consumers will not be able to choose their own doctor under the Affordable Care Act. However, you can rest assured that as a Medicare supplement member, you can go to any doctor or hospital and it will be covered as long as the doctor accepts Medicare.
- With Medicare supplement insurance your coverage will be recognized across the nation, so feel free to choose the care you want.
- There are a number of things you should consider when comparing and contrasting insurance policies.
Since all Medicare Supplement insurance policies have been standardized by the federal government, it’s easy to see the difference between insurance companies.
For example, when assessing the coverage you want, companies will provide the same Medicare plans. So your best bet is to choose the the most affordable option of the A-rated carriers for the coverage you want.
- This is another misconception as a result of the implementation of the Affordable Care Act. In short, the answer is yes, you will be covered out of state with a Medicare supplemental insurance plan.
- No matter who you choose as your carrier, you can have the confidence to feel safe while traveling. All you will have to do is present your Medicare Supplement card and Medicare card at any participating provider in the United States.
- By using this coverage, your carrier will cover the 20 percent of the expense that Medicare doesn’t pay for.
- SelectQuote will NEVER charge you a fee for their services. Our health exchange is used to connect you with a carrier for absolutely no charge. These services are free and are designed to help you find the most comprehensive and affordable Medicare Supplement or Advantage plan. Not only do we not charge you, but we will find you the lowest possible rate for coverage, as we compare multiple carriers at once.
- Navigating the healthcare marketplace can seem like a daunting task, but SelectQuote Senior makes it easy. We not only give you the same price as a carrier, but we also offer extensive services to ensure you find the lowest price and best possible coverage. Instead of just providing you coverage from one carrier, we compare and contrast more than 20 highly-rated companies to ensure you find the best possible rate.
SelectQuote Senior is a “one stop shop for all of your needs.” Whether you need a simple Medicare
- Supplement plan or a plan that includes prescription drug coverage, SelectQuote Senior has the resources you need. And best of all, this service is provided to you for no charge whatsoever.
- Medicare Advantage plans are offered by private insurance companies and are often referred to as “Part C” or “MA Plans.”
- You still have Medicare with this plan, but it just might offer more coverage when compared to a supplement plan. A Medicare Advantage plan often includes extra coverage like hearing, dental, vision or health and wellness programs. Plans also typically include Medicare prescription drug coverage.
Have a question we haven’t answered here? Ask us!