Are you one of the 143,000 Medicare beneficiaries in Evansville, Indiana, with an incomplete Medicare plan? If you don’t have a supplement, you could leave yourself vulnerable to out-of-pocket costs!
Evansville, Indiana Supplemental Medicare Plans
Specific Indiana Original Medicare coverage gaps can get expensive if you don’t purchase a supplemental plan. Most beneficiaries choose to acquire either Medigap or Medicare Advantage.
Average Medicare Advantage Plans in Evansville, Indiana
The average beneficiary in Evansville, Indiana, is 72 years of age and likely still enrolled in Original Medicare. Around 26% of beneficiaries currently have an Indiana Medicare Advantage plan, even though there are 39 to choose from in Vanderburgh County.
Most Medicare Advantage plans are premium free — but that doesn’t mean that they are completely free of cost. These plans will have other expenses like a maximum out-of-pocket cost which you must pay upfront for medical expenses. Companies like Indiana University and Humana charge an average MOOP of $5,000.
You can pay a below-average MOOP if you purchase a plan from Ascension. Those costs are capped at $2,900. But they do come with a more limited HMO medical network.
Wellcare and Unitedhealthcare would be considered above average for out-of-pocket costs. But UnitedHealthcare looks more attractive with a lower MOOP and a PPO medical network. You get more doctors and facilities to choose from with a PPO, which can be helpful.
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If you’re curious about Medicare Advantage plans, our Medicare Advantage FAQ pages will get you started.
Cheapest Medicare Supplement Plans in Evansville, Indiana
It’s understandable if you don’t want to switch to a private health plan like Medicare Advantage. You can stick with Original Medicare and purchase an Indiana Medigap supplement instead. These plans play second fiddle to Medicare and only cover the things that Medicare won’t, like your 20% coinsurance for Part B.
All Medigap plans cover the coinsurance benefit. But not all plans cover it the same way. Plan K and Plan L only cover part of this benefit, while Medigap Plan N asks you to pay a small co-pay instead of the 20% charge.
To get the most benefits, you want to purchase a plan like Plan F or Plan G. These plans offer the most benefits, but only if you pay a higher monthly premium. The cheapest plans start at $102 a month but could go as high as $440 or more.
You could purchase a high-deductible version of these plans for a lower monthly premium. But that means you will have to pay higher out-of-pocket costs upfront to meet that deductible. Or you could choose a similar plan with slightly fewer benefits, like Plan D for a maximum of $242 per month.
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So that you know, our Medigap FAQ pages have even more helpful info.
Affordable Medicare Part D in Evansville, Indiana
If you don’t sign up for Medicare Advantage, you’ll need to supplement Original Medicare with an Indiana Part D prescription drug plan. But these plans are relatively easy and affordable to manage.
What qualifies a plan as a top 10 plan? A low monthly premium, a low deductible, and a high customer service rating. Aetna has 2 of 3 and is also the most affordable on the list below.
UnitedHealthcare isn’t the least affordable on this list. Its lower deductible helps offset its high monthly premium, and that four-star customer service rating isn’t bad.
Clear Spring and Humana are on the pricier side. They both have relatively high monthly premiums and deductibles. But Humana at least has a 4-star customer service rating.
Navigate to our Part D FAQ pages if you need more info on Medicare and prescription drugs.
Medicare Special Needs Plans
If you have a chronic disease, you’ll want to take a closer look at Medicare Advantage. You can qualify for a Special Needs Plan (SNP) for chronic and debilitating illnesses that offer you specialized care at affordable rates.
If upfront costs are a problem, you’ll want to plan with a low MOOP. Humana, Ascension, and Wellcare are all equal in that respect. They also have similar HMO medical networks.
UnitedHealthcare is the only plan on this list with a PPO network. This program means you have more doctors and hospitals to choose from. But with more choices could come more expenses.
Anthem Healthkeepers offers a similar plan. They have a $7,550 MOOP but an HMO medical network. The smaller medical network means you only get doctors and hospitals in the price range you need for your budget.
What is the downside to Medigap plans in Evansville, Indiana?
Choosing the wrong one can be expensive and might not offer the necessary benefits. That’s why it’s essential to compare quotes from local providers before you purchase a policy.
Is a Medigap plan better than an Advantage plan in Evansville, Indiana?
It depends on your individual needs. But it’s noteworthy that most Evansville beneficiaries have chosen Original Medicare over Medicare Advantage.
Can you have a Medicare Advantage and a Medicare Supplement at the same time in Evansville, Indiana?
No. This is called duplicate coverage, and it’s illegal for insurance companies to sell you both.
How to Sign Up for Supplemental Medicare in Evansville
You can drastically lower your monthly premiums by comparison shopping with us. We can offer free rate quotes if you request contact with one of our Medicare experts.
Call us at the number above or use our online rate form here.