Medicare Part B only covers 80% of your medical costs, leaving you to pay the other 20% out-of-pocket. Medicare Supplement Plans help pay these out-of-pocket costs that Medicare does not cover. Their premiums range from $70 a month to $270 a month, depending on the plan. Generally, the higher the deductible, the lower the monthly premiums. Plans with lower deductibles have higher monthly premiums.
If you’re unsure which plan is right for you, one of our agents will do all the research, comparing, and pricing for you. We will work to help you understand all of your options and see which fits best with your lifestyle. Agents work with your schedule and your time, a call with one of us can answer as few or as many questions that you have until you are comfortable with your options.
When To Enroll
The best time to get a Medicare Supplement Plan is during your open enrollment period, which automatically begins the month you turn 65 and are enrolled in Medicare Part B. During this 6-month period, you can buy a plan without facing medical underwriting or possible denial due to poor health.
If you miss your open enrollment period, you may still be able to sign up for a Medicare Supplement Plan, but you might end up paying more for coverage if you have pre-existing conditions.
The Benefits of Medicare Supplement Plans
- See any doctor who accepts Medicare.
- No referrals needed to see a specialist.
- Guaranteed coverage for life (as long as you pay your premiums).
- Coverage that travels with you all over the U.S.
Comparing Plans
As mentioned earlier, there are 10 different types of Medicare Supplement Plans. Each plan has an assigned letter, and offers different options. For the most part, they all cover the basics. Plans N and G are the most popular plans at the moment. The reason that these plans are the most popular is that they cover 100% of some medical costs, while other plans only cover 75%.
In order to figure out which plan will work best for your budget and healthcare needs, you should speak to an experienced BiG agent. Our Medicare agents can compare all of your local plans in minutes and help you to understand exactly what is covered. This will allow you to see what level of coverage you need, and help you find a plan that fits your budget.
A Medicare Supplement Plan Is Right For You If:
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You’re enrolled in Original Medicare (Parts A and B)
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You want extra coverage to pay for the costs Medicare does not cover.
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You plan to enjoy your retirement traveling the U.S. and beyond (some plans cover international traveling).
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You would like the flexibility to see any doctor who accepts Medicare without a referral.