Introduction to Medicare Supplement in Georgia(Medigap)

The federal Medicare program is a kind of health insurance which provides for several of the hospital- and doctor-related health-related costs of senior citizens. Regrettably, there are coverage gaps that Medicare does not cover, and these gaps in coverage can get expensive very quickly if you’re relying upon Medicare on it’s own to cover your needs. Fortunately, there’s a type of supplemental insurance referred to as “Medigap” which gives a reasonable option for retirees that want to defend their finances from these gaps.

Federal Regulations for Medicare Supplements

The Centers for Medicare and Medicaid Services (CMS) are accountable for overseeing Medigap plans. This helps make sure that, of the 10 offered plans, all insurance companies in all 50 states provide the identical plans and coverage options. Using this method, the only difference from one insurance carrier to another is the price of your monthly premium.

Medigap Enrollment In Georgia

As you can see from the chart below, Plan F is the most popular Medicare supplement in Georgia as well as many other states. Plan M is the least popular plan, with only 11 seniors enrolled in that particular supplement.

Plan Type A B C D E F G H I J K L M N
Enrollment 2,688 4,591 23,644 3,979 12,129 160,428 17,001 150 2,092 14,524 1,292 2,420 11 12,371

Plan Coverage & Cost

A number of elements will determine how much your insurance broker could charge you for your Medicare supplement plan. For example, a 65 year-old, female non-smoker in New Orleans can pay a drastically different premium from a 78 year-old man in Georgia who routinely uses tobacco products. Consider the chart below for projected premiums on preferred plans locally:

Most Popular Medicare Supplement Plans in Georgia

Georgia, like a number of other states in the nation, has more senior citizens participating in Medigap plan F than any other accessible plan, making F the favorite hands down. It isn’t difficult to understand; Plan F covers all the gaps which Medicare doesn’t for one single, basic, and comparatively reasonably priced monthly premium.

Plan C ranks a distant second among Georgia seniors. Plan C is not as comprehensive as Plan F, because it doesn’t cover Medicare Plan B excess charges. However, this is the only gap which it does not cover, and if you don’t plan on making too many doctor visits, this could be the more cost-effective plan for you, too.

Helpful Medigap Tips & Tricks

Doctor/Provider Network Restrictions

One of the main reasons Medicare supplemental insurance plans are well liked among retirees is their flexibility. Contrary to other supplement plans, Medigap insurance doesn’t come with any restrictive HMO or PPO provider networks. You may use any doctor which welcomes Medicare, in any state, no matter where you happen to be. So if you love to take a trip, if you are in a rural area, or for those who are one of the millions of “snow birds” who migrate south for the winter, your access to good health care won’t be constrained.

Doctors List

Drug, Vision and Dental Coverage

Regrettably, neither dental nor vision care is covered by Medicare or Medigap. Until the laws change, you must purchase vision & dental insurance from a private company on your own, or pay out of pocket. Prescription drugs, however, are a different story. Medicare supplemental insurance used to offer prescription drug coverage until eventually Medicare Part D came along. Given that Part D is offering that service for senior citizens, it’s no longer required for Medigap plans to provide such benefits.

Enrollment Options & Best Time To Enroll

There are different ways to sign up for a Medicare supplement policy. However, keep in mind that all of them require you to enroll in Medicare first. If you enroll at the right time, simply becoming a Medicare beneficiary will allow you to purchase Medigap coverage, no strings attached. Other companies may limit you if you enroll later or if you have chronic health conditions.

  • Initial Enrollment Period: Enroll in a Medigap plan within your first 6 months of receiving Medicare benefits, and you won’t be asked any invasive health questions or denied coverage.
  • Guaranteed Issue: You will not be rejected for coverage, even with a health condition. This is a popular option among seniors transferring from an employer or group plan.
  • Annual Enrollment Period (AEP): The AEP actually applies to many different insurance policies. Medigap enrollment is not restricted by AEP rules.
  • Underwritten: A complicated process in which you must answer questions about your health and possibly undergo a physical exam before your chosen insurance company will offer to sell you a policy.

Free Look Period

The free look period protects seniors like you from being stuck with a Medigap plan which does not meet your needs. Within your first 30 days of purchasing a new plan, you are free to decide whether or not to keep your coverage, or cancel it without being financially responsible. Any upfront costs you pay during your first 30 days will be refunded should you decide to cancel your benefits.

What Medigap Plan Is Best For Me?

Compare Medigap Plans Online