Georgia Medicare Supplement Plans
Georgia Medicare Supplement (also known as Medigap) plans follow the standardized Medicare Plans A-N designed by the federal government. There are 10 standardized plans to choose from. To see the chart of how the 10 Georgia Medicare Supplement plans are designed, check out this page by clicking on this link.
Each lettered plan A-N has a specific coverage that it offers. That coverage is identical from company to company. The Georgia Medicare Supplement plan rates are different from one company to the next even though the coverage is identical. This is why it is important to let an independent agency like Integrity Senior Solutions shop among ALL the companies to find the best premium and best company for you. There is no charge to you for this service. Your rates are the same whether you go directly to the company or allow us to shop around and help you enroll. Just know that if you call one particular company, they will not tell you their competitors’ rates. It is not a good idea to shop for a Georgia Medicare plan on price alone. There are many factors that need to be considered. We go into more detail in this article on our website -> Click here.
When Can I Apply For Medigap Coverage in Georgia?
You are eligible to enroll in a Medigap plan in Georgia starting 6 months before your Medicare Part B eligibility date. For most people, that would mean 6 months before their 65th birthday. Even though you can only apply for Medicare and for Medicare Advantage plans three months prior to becoming eligible for Part B, you can apply six months out for your Medicare Supplement coverage.
Your application is very simple if you are enrolling during the 6 months before or after your start date for Medicare coverage under Part B of Medicare. That is because, during this timeframe, you are eligible for Open Enrollment. During your Open Enrollment Period, you can choose to be covered by any insurer you would like with no medical underwriting.
How Do I Change My Medigap Coverage Later?
If you are outside of this Open Enrollment Period, you will be subject to medical underwriting in order to qualify for coverage under a Medicare Supplement plan. This is why it is important to choose wisely during your Open Enrollment. It is your one chance to go with any Georgia Medicare plan you would like with no medical questions asked.
Also, under a Georgia Medicare Supplement plan, you can change plans any time of year. Unlike Medicare Advantage plans, you are not restricted to only being able to change plans in the fall of each year.
You are also not restricted to a particular network of doctors and facilities. With your Georgia Medicare Supplement plan, you can receive care from any physician, specialist, or hospital anywhere in the country. As long as that provider accepts original Medicare, and over 93 percent of physicians nationwide do, your Medicare Supplement will be accepted.
What Does My Georgia Medicare Supplement Cover?
Medicare Supplements are also known as Medigap plans. This is because they cover the gaps in original Medicare. Different lettered plans cover different gaps. However, all of the Medicare Supplement plans in Georgia cover the Part A coinsurance and hospital costs. That coverage includes an additional 365 days in a hospital after original Medicare stops paying.
Under Part B which is your physician and outpatient services, Medicare pays 80% once you meet your annual Part B deductible. This leaves you with 20% of the bill that you are responsible for. All of the Medicare Supplement plans in Georgia pay that 20% for you, no matter how much it turns out to be. Plan K and Plan L cover that 20% a little differently than the rest of the Medigap plans. We cover those plans in a different article on the website.
Generally speaking, the more coverage your Georgia Medigap plan offers, the higher your premium will be. Different Medigap plans offer different levels of coverage. We can help you find the balance between the coverage you want and how it all fits into your budget by shopping among all of the Georgia Medicare plans.
Are Georgia Medicare Plans Issue Age or Attained Age?
What are you even talking about, Keith? Okay, let me explain:
Issue-age policies indicate that your premium is based on how old you are when your Medigap coverage begins. Most people are familiar with this model of premium because of purchasing life insurance. When you buy a 20-year term or a whole life policy, your premium is based on how old you were when you started the coverage. This does not mean that your rate will never increase. As Medicare co-payments and deductibles go up each year, you can expect your Medigap premium to increase as well.
One of the tools we have that we can help you with your plan selection allows us to see the rate increase of every plan in Georgia for the last few years. We can help you look out for companies that have large increases year to year so you can avoid them. You will also not get a rate increase just because your age increases to another level. The only way the company can raise your rate is to raise it on everyone in the same age bracket as you.
Attained-age policies indicate that your premium is based on your current age. This means that you will likely see small increases from year to year as you reach a higher level of maturity. Keep in mind – companies can also have a statewide rate increase on all plans that could be in addition to your annual attained age increases.
Almost all Medigap plans in Georgia are issue-age plans. There are a handful of companies that offer attained-age plans. Give us a call and we can let you know how all the different companies compare.
Georgia Medicare Supplement Quotes
Georgia is my home. I have lived here all my life. Up until about ten years ago, Georgia was the only state I was licensed in. Now we are licensed across the country. Shopping for Medicare supplement coverage can be confusing and time-consuming if you do it on your own. We have the tools to compare every company available in Georgia. I have been working in this market for over 22 years now. I know who the new players are, as well as the established veteran companies with a long history of reasonable rate increases. We can put all of that experience and knowledge to work for you.
Best of all, it costs you nothing! You get all of the benefits of working with an independent agent; benefits like claim support, watching for rate increases and making sure you are on the best plan, and you get it for free. How? The insurance company must provide their rates to the state insurance commissioner’s office for approval. That rate already has an agent commission built into it. So whether you go directly to the company to enroll or allow us to serve you, your price is exactly the same, down to the penny. So let us go to work for you.
You can send us a message in the form to the right, or call us at 1-888-228-6119. We look forward to serving you!
Keith Murray is an independent agent and the founder and owner of Integrity Senior Solutions Inc in Avera, GA. He has over 25 years of experience working with Seniors to meet their insurance and financial needs.