Original Medicare covers a lot but doesn’t cover all your healthcare needs. If you’re a senior citizen living in Vermont, you’ll want to enroll in a Medicare Supplement or Medigap plan to give you more comprehensive coverage and fill any gaps.
The U.S. government has standardized Medicare Supplement plans, and you never have to worry about getting fewer benefits or higher premiums depending on the carrier.
Vermont Medicare Supplement Enrollment Per Letter Plan
According to recent surveys and data collection, more than 52,000 Vermont residents have enrolled in Medigap (also known as Medical Supplement) plans. Many have also taken advantage of Fee-for-Service (FFS) Medicare, 38.1%of whom added Medigap for further coverage.
That number may not seem like a high percentage, but it’s higher than many other more populated states.
What Are the Most Popular Medigap Plans in Vermont?
As you’ll notice from the chart above, the most popular Medicare Supplement/Medigap plan in Vermont is Medigap Plan C. More than 13,000 people are enrolled in Plan C, ensuring they get the most comprehensive coverage to fill all the gaps in Medicare. Plan C covers most if not all Original Medicare aspects, including:
- Medicare Part A hospital coinsurance
- Part A and Part B deductibles
- Part B preventative care coinsurance
- Skilled nursing facility care coinsurance
- Part B coinsurance
The second most common Medicare Supplement plan option is Medigap Plan N, which has 10,501 beneficiaries. Plan N is an excellent choice for Vermont residents who want to save money and still enjoy most Medicare Supplement policy benefits. Plan N has excellent reviews and includes coverage for things like the following:
- Part A coinsurance
- Part A hospice care
- Part A deductibles
- But not Part B deductibles or excess charges
Medigap Plan F has the third-largest number of beneficiaries in Vermont. With 9,991 residents enrolled and easy-to-understand costs and benefits, Plan F is a great Medicare Supplement plan option. The benefits of choosing Medigap Plan F include:
- Zero out-of-pocket payments
- No copayments
- No coinsurance
- No deductibles
Medigap Plan Coverage Chart for Vermont
The monthly premium rates for a Medigap policy may change depending on several factors, such as where you live, how old you are, and when you enroll. However, the benefits stay the same. For example, whether you live in Vermont or New Mexico, you will receive the same coverage options from your Medigap Plan C.
Medicare Supplement Plan Costs in Vermont
Medicare Supplement plans offer the same coverage options from state to state and carrier to carrier. However, the costs can vary considerably. Your Medigap letter plan’s premium rate might fluctuate depending on multiple factors, such as:
- Area of residence
- Tobacco use
- Household discounts
- Payment method
- Time of enrollment
Cheapest Premium per Medigap Letter Plan in Vermont
The chart below shows the lowest Medigap letter plan premiums in Vermont. We’ve compiled these quotes based on a 70-year-old female.
Most Expensive Premium per Medigap Letter Plan in Vermont
Do you want to know the highest premium rates for Medigap letter plans? The chart figures below show the most expensive premium quotes based on a 70-year-old male living in Vermont.
Top Medicare Supplement/Medigap Plan Carriers in Vermont
Check out the figures in the below chart to see the top Medicare Supplement carriers in Vermont. The numbers reflect quotes from a female resident aged 65.
Accendo offers the lowest prices for Medigap Plans F and G at $165 and $145 per month, respectively. However, if you want the lowest price for Plan N, Cigna is your number one option with a $119 monthly premium.
|CARRIERS||PLAN F||PLAN G||PLAN N|
What is the deductible for Plan G in Vermont?
With a standard Medigap Plan G, you can enjoy immediate coverage. You will only have to pay $233 for the Part B plan deductible in addition to your monthly premium rate.
Who pays for Medigap in Vermont?
Private insurance companies like Cigna and Humana provide Medicare Supplement or Medigap letter plans in Vermont.
If you enroll in Medigap, you’ll have to pay your insurance company and the monthly premium rate for Medicare Part B.
When can I apply for Medigap in Vermont?
The best time to apply for a Medigap policy is during the Open Enrollment Period (OEP), a six-month time slot available one month after you enroll in Medicare Part B and after you turn 65.
Even if you have poor health or pre-existing medical conditions, an insurance company cannot change your rates or deny you certain benefits.
Do Medigap plans have maximum out-of-pocket expenses in Vermont?
With Original Medicare, you will likely have to pay some medical bills on your own because it has no cap on maximum out-of-pocket (MOOP) expenses.
You are responsible for coinsurance and deductibles. However, Medigap plans will cover most if not all out-of-pocket costs depending on the insurance company.
What is the least expensive Medicare Supplement plan in Vermont?
If you live in Vermont and want the cheapest Medicare Supplement plan, choose Plan K. Medigap Plan K has the lowest premium rates and still offers excellent coverage to supplement Original Medicare.
With only a $77 monthly premium, Plan K is the best option for senior citizens who want to save money.
How To Sign Up for a Medigap/Medicare Supplement Plan in Vermont
Are you ready to start searching for a Medicare Supplement/Medigap plan in Vermont? You’ll find in-depth information, helpful resources, Medigap policy descriptions, and more at Medigap.com.
Furthermore, our licensed insurance agents can give you real-life advice to help you secure the plan that best fits your individual needs.
Give us a call today or fill out our online rate form to receive rates and a free quote today!