Medicare Supplements

Medicare supplements are insurance plans offered by private insurance companies to help supplement the cost of health care cost that original Medicare doesn't cover.  These cost are generally the Medicare parts A, and B deductibles, co-payments and co-insurance amounts.

The Federal government has "standardized" Medicare Supplement or Medigap policies that private companies may sell. These "standardized" plans are identified by the letters A through N.  Each private insurance company that offers Medicare Supplement policies must offer the same basic benefits in each of the different plans A through N, but they do not have to offer all plans in all states.  In some states the Medicare Supplements policies are standardized in a different way.  Oklahoma is not one of those states.

You may buy a Medicare Supplement policy during your Medigap open enrollment period with no medical underwriting.  This means you can't be declined a policy and can't be charged more for your policy if you have health conditions, than someone with no health conditions.  Once you are outside of your open enrollment period the insurance company may use medical underwriting to decide whether to accept your application and how much you will pay in premiums.  

Additional Medicare Supplement Resources:

  2016 Choosing a Medigap Policy (pdf)

 

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