Medicare Supplement
Insurance in Illinois

Medicare Supplement insurance is add-on coverage for traditional Medicare. While Medicare offers some coverage for health expenses, it certainly doesn’t cover it all. A Medicare Supplement plan, often called “Medigap” insurance, helps fill in the coverage gaps of Medicare.

Unexpected medical expenses can put your retirement plan at risk. A Medicare Supplement plan can offset that risk, making sure that the unpredictability of your health doesn’t effect the predictability of your savings.

What Do Medicare Supplements Cover?

Whether you’re in Decatur, Illinois or you hibernate to Florida for the winter, Medicare Supplements have standardized coverage.

That means that no matter which plan you choose, it will have the same coverage from state to state – and from carrier to carrier.

FAQs About Medicare Supplement Plans

Q: What Is the Difference Between Medicare Advantage and Medicare Supplements?

A: Medicare Supplement Insurance is a policy that’s added to Original Medicare, Part A and Part B, to provide additional coverage. Medicare Advantage is a private plan option that effectively replaces your Original Medicare coverage. They’re very different types of insurance, and you can read more about how they compare here.

Q: What Is the Open Enrollment Period For Medicare Supplements?

A: Open enrollment is a time where you can purchase any Medigap plan without having to pass any medical underwriting. This is a 6-month window that occurs when you first sign up for Medicare Part B.

Q: What Is Guaranteed Issue for Medicare Supplements?

A: A Medicare Supplement carrier must sell you a policy, cover you for any conditions you already have, and not charge you more for your policy even if you’re not healthy.

There are two big disclaimers though: 1) You can only exercise your Guaranteed Issue rights under certain circumstances. 2) You only have the right to buy certain plans. Ask us if you qualify for Guaranteed Issue rights. If this doesn’t apply to you, you don’t need to learn about it! It can get pretty confusing pretty quickly – even for those of us who live and breathe Medicare every day.

Q: What About Pre Existing Conditions for Medicare Supplement Insurance?

A: If you enroll in a Medicare Supplement insurance plan within six months of turning 65, and you’re enrolled in Medicare Part B, you have a guaranteed right to purchase any Medicare Supplement insurance plan sold in your state. In this very common situation, you cannot be turned down or charged more because of a pre-existing condition. Learn more about Pre-Existing Conditions here.

Q: What Do I Need to Know About Medicare Supplement Rate Increases?

A: While it’s impossible to completely avoid rate increases, it’s highly recommended to re-evaluate your Medicare Supplement each year. Each year on your policy’s anniversary date, you should have your agent run some quote comparisons. Are there any other companies out there that have the same coverage for a cheaper price?

You have nothing to lose. That’s why we schedule an appointment with each of our clients to compare their current Medicare Supplement against the other companies in the market. We do this each year.

Q: Are Medicare Supplement Guaranteed Renewable?

A: Good news! All Medicare Supplement plans are guaranteed renewable.

Q: How Much Does a Medicare Supplement Plan Cost?

A: At Sams/Hockaday, we understand how important pricing is when it comes to making an educated decision about your Medicare health plan. There are a ton of factors that play into what Medicare Supplement insurance will cost you, such as age, gender, whether or not you use tobacco, if you have someone living with you, and so on.

In a place like Decatur, you’re looking at a price in the $70-$200 range for a Medicare Supplement depending on what those factors are for you.

We recommend asking us for a quote since every individual is going to have a different quote.

Q: Does Urgent Care Take Medicare Supplements?

A: If you have a Medicare Supplement, your urgent care visit will be much cheaper (or even free). For those with Medicare Supplement Plan F, you have no deductible, no copays, and no coinsurance. This means that as long as the urgent care service is approved by Medicare, your visit will cost you nothing.

Q: Can You Switch Medicare Supplement Plans?

A: Yes, you can! We recommend reviewing your Medicare Supplement each year to make sure you’re still getting the best coverage for the best price. The only hurdle is medical underwriting. If you develop a medical condition, there is no guarantee that the insurance companies will accept you. Keep in mind that they cannot drop your coverage since all Medicare Supplement are guaranteed renewable.

Q: Do Medicare Supplements Cover Hearing Aids?

A: Unfortunately, Medicare does not cover hearing aids, hearing exams, or exams for fitting hearing aids, which means Medicare Supplement don’t either. Remember: Medicare Supplements work with Medicare, so if Medicare cover it, the supplement can’t by default.

Q: Does Medigap Insurance Cover Long-Term Care?

A: As you may already know, Medigap is an extension to Medicare, so it can only help cover things that Medicare will cover. Medicare does not help you with services that aid with the Activities of Daily Living. That includes things like bathing, dressing, eating, and getting around. The bottom line is that most of us will be responsible for paying some (or all!) of our long-term care costs.

If you are interested in long-term care insurance solutions, please ask us! There are options other than traditional long-term care insurance, such as life insurance policies that help pay for long-term care if you need it.

Q: Are Medigap Plans Worth the Cost?

A: While Medicare provides some health coverage, it doesn’t cover everything. The gaps left behind are significant, especially if there was a major unexpected medical emergency.

We recommend everyone enrolled in Medicare to purchase a Medicare Supplement.

Medicare Supplement Companies We Offer

• AARP
• BCBS of Illinois
• CSI
• Equitable
• KSKJ
• Mutual of Omaha
• United of Omaha
• United World
• and many more
  

Get a Medicare Supplement Quote Today

Interested in Medigap coverage, but not sure about the price? One of our local, licensed agents can provide a free quote for you today. No obligations.