When Is the Medicare Supplement Annual Enrollment Period? (Trick Question)

Many people mistakenly believe that the Medicare Supplement plans have an annual open enrollment period that occurs at the end of the year. However, this is not the case. The end of year open enrollment period actually only applies to the Medicare Part D and Medicare Advantage plans (the plans that replace Medicare).

Medicare Supplement plans actually do NOT have any sort of annual enrollment period. On the contrary, you can enroll in a Medicare Supplement plan at any time of the year. They do employ medical underwriting on the application (regardless of the time of year!), and applications are either approved or declined based on your answers to the health questions in most situations. However, you can change at any time of the year, as long as you are in relatively good health.

Another common misconception about Medicare supplement plans is that they are the same as Medicare Advantage plans. However, this could not be further from the truth. Obviously, as we’ve discussed above, the two types of plans have different enrollment rules (as far as time of year you can enroll). Additionally, when you enroll in, or change, your Medicare Supplement plan, you do have to qualify medically (answer medical questions on the application), regardless of the time of year. With Medicare Advantage, however, you can only change a certain time of the year (annual enrollment period) and there are no medical questions. This is especially important to someone turning 65 to consider, particularly if you have some pre-existing conditions. If you take an Advantage plan when you first go on Medicare at age 65, you may not be eligible for an actual Medicare Supplement later.

The misconception about the Medicare Supplement plans having an annual enrollment period is fueled by several factors. First of all, I believe that the heavy advertising (television, direct mail, etc) that AARP, Humana and others do this time of year can be misleading. Also, some of those companies (incorrectly) imply that their plans are Medicare Supplements, when they are actually Medicare Advantage plans. Also, this is the time of the year that you change your Part D prescription plan, so many people end up doing both at once (Part D and Medicare Supplement).

Regardless of the misconception, it is important to understand how Medicare Supplements work, as well as understanding the differences between actual supplements and the Medicare replacement plans like Medicare Advantage. To get quotes on Medicare Supplement plans, as well as more information about what they cover, you can contact us at 877.506.3378 or on our website at Medigap insurance quotes.

Mutual of Omaha Medicare Supplemental Plan N – A Great Alternative to Being Declined Coverage

Mutual of Omaha Medicare Supplement Plan N is a “Guaranteed Issue” plan. What this means is that they offer this plan on a no health questions asked basis to all who apply. This is one of the few plans offered like this, nationwide. In some states, there are special times of the year or other special circumstances that allow everyone an open enrollment period with no health questions asked.

But, generally speaking, you do have to qualify medically when you sign up for a Medicare supplement plan. In the case of Mutual of Omaha’s Plan N, though, this is not the case.

This has truly been a benefit for those who have been previously unable to get coverage. Those who have health problems ongoing or have a history of health problems generally get declined by Medicare Supplement plans, when they apply. This allows them an option, in which they will not get declined.

Plan N is a new Medicare Supplement plan – it began on June 1, 2010. It has been successful as an appealing plan to those who are losing, or leaving, Medicare Advantage plans, which have encountered significant cuts for 2011, in most areas. Plan N does have a $20 doctor’s office co-pay, as well as a $50 emergency room co-pay. Additionally, it does not cover the Medicare Part B deductible of $162/year. That said, it still covers the 20% not covered by Medicare at the hospital so that, between Medicare and your supplement plan, you have little to no cost for hospital visits, or stays.

We believe Plan N, which is offered at an even lower price point than other supplement plans, is a great alternative to those who cannot get other coverage, have been declined or are simply paying too much for an overpriced Plan F. Plan N allows significant premium savings (as much as 50-60% lower than Plan F prices) while still giving you the hospital coverage and doctor flexibility that you need from your supplement plan.

If you want a customized quote, or if we can assist in providing additional Plan N information, please let us know. You can reach us at toll-free 877.506.3378 or request a Medicare Supplement quote. Alternatively, you can visit our Mutual of Omaha Medicare Supplement page for more information about this company and their plans.

Medigap Plan N – The Optimal Alternative to Medicare Advantage

Many Medicare Advantage plans are not offering coverage for 2011. What this means is that many Medicare-eligible seniors are being forced to face tough decisions about replacing their Medicare Advantage plans. It also means, however, that they are “Guaranteed Issue” into some Medigap plans. This gives them an opportunity to move to the stability and flexibility of the Medigap program and easily get out of the floundering Medicare Advantage programs.

The Medigap plan that most closely resembles what one might be used to with Medicare Advantage is the Plan N. Plan N is a new Medigap plan that combines the stability and flexibility of Medigap coverage with the low premiums and minimal co-pays that are a part of Advantage plans. Here are some details about Plan N, if you aren’t already familiar with it:

  • With Plan N, you can go to any doctor that takes Medicare. There are no networks or referrals needed.
  • Plan N covers the 20% that Medicare doesn’t cover at the hospital.
  • Plan N has a $20 doctor’s office co-pay and a $50 emergency room co-pay.
  • Plan N DOES cover the Medicare Part A deductible of $1,100. It DOES NOT cover the Medicare Part B deductible of $155/year.
  • Plan N is, in some cases, “guaranteed issue”. This means that you can get this plan without having to answer medical questions or go through medical underwriting.

Plan N is certainly a reasonable option for those on Medicare who wish to (or have to) replace their Medicare Advantage plans for 2011. Plan N is a viable alternative that allows you to return to “original” Medicare A & B and have a supplement that’s designed to go with Medicare and fill in the majority of the gaps in Medicare A & B.

To get a Medigap Plan N quote for your age and zip code, or to get quotes on all supplement plans in your area, please visit Medigap Plan N quotes or call us at 877.506.3378.

PARTS of Medicare vs. Medigap PLANS – Understanding the Difference

One of the most confusing (to most people) things about turning-65 is understanding the terminology. More specifically, there are “parts” (of Medicare) and “plans” (Medigap). Many people get these confused and it can lead to making decisions that are not to your advantage.

Parts of Medicare

There are four parts of Medicare. Medicare Part A is the part that covers hospital and inpatient services. You get this automatically from paying into the Medicare system during your working life. Medicare Part B is the part of Medicare that covers doctor’s office and outpatient services (like labwork, etc.). You must sign up for Part B in order to have this part of Medicare. There is a $110.50/month premium for this that is generally paid through a Social Security deduction.

Medicare Part C is an optional part of Medicare that is also known as Medicare Advantage. If you wish to stay with “original” Medicare (Medicare Parts A & B), you do NOT need to sign up for Part C. In fact, if you sign up for ‘C’, all of your coverage is provided through the private Part C company and Parts A & B no longer provide your benefits.

Medicare Part D is the prescription drugs part of Medicare. This part of Medicare is also optional and provided through private companies. In order to have prescription drug coverage, you must sign up for Part D. You can do this by calling 1-800-MEDICARE or through an independent agent.

Plans – Medigap

Medigap plans are also named by letters, which is the source of most people’s confusion. The plans are standardized and each company is required to offer the plans from the standardized plans chart. This chart goes from “A” to “N”. You should select a plan that meets your needs from a reputable company with low rates. You can view the full chart here that shows what the standardized plans cover: Standardized Plans Chart

If you have any specific questions, or if we can help in any way, please do not hesitate to reply to this email or contact us toll-free at 877.506.3378. Medicare-Supplement-Comparison.com is a leading, independent Medicare Insurance agency. Because we are an independent agency, we work as a centralized place to compare all plan options, ask questions, and make unbiased decisions.