Medicare Supplement

Original Medicare is a government health insurance program for seniors, and it doesn’t typically cover all health care costs. That’s where Medicare Supplement Insurance, also known as Medigap, comes in. Medicare Supplemental Insurance, often referred to as Medigap, is a private health insurance policy designed to help cover some of the healthcare costs that Original Medicare doesn’t. It’s an option for many Medicare beneficiaries who want to protect themselves from unexpected medical expenses.

How Medigap Works

• Compliments Original Medicare: Medigap plans work alongside Original Medicare (Part A and Part B) to help pay copayments, coinsurance, deductibles, and other out-of-pocket costs.
• Enrollment: During your Initial Enrollment Period at age 65, you can enroll in a Medigap plan which will be guaranteed to be issued. This means you aren’t required to answer any health questions to obtain this plan. After being enrolled in Medicare for a year after age 65, you may be required to answer health questions to be considered for a Medigap plan by the insurance carrier.
• Standardized Plans: The federal government standardized Medigap plans, meaning plans with the same letter ( F, G, N, etc.) offer the same benefits regardless of the insurance company. However, premiums can vary.
• No Networks: Unlike Medicare Advantage plans, Medigap plans allow you to see any doctor who accepts Medicare.

What Does a Medicare Supplement Plan Cover?

Medigap plans help cover out-of-pocket costs that Original Medicare doesn’t pay for, such as copayments, coinsurance, and deductibles. These costs can quickly add up, making a Medigap plan a valuable option for many seniors. The specific coverage offered varies by plan, but most Medigap policies will help cover some or all of the following:

• Hospital costs
• Doctor visits
• Medical tests and procedures

Key Benefits of Medigap

• Predictability: With Medigap, you know exactly what your out-of-pocket costs will be, providing financial peace of mind.
• Wide Network: You can see any doctor who accepts Medicare without worrying about networks or referrals.
• Comprehensive Coverage: Many Medigap plans offer comprehensive coverage, helping to protect you from high medical bills.

Plans That Bridge The Gap

Original Medicare doesn’t cover everything. Without additional coverage beyond Original Medicare (Parts A & B), gaps in coverage like copays, deductibles, and coinsurance become your financial responsibility. A Medicare Supplement, also known as “Medigap” is a type of health insurance that covers these gaps in coverage.

When you have a Medigap policy, Medicare will pay for its portion of your medical expenses first. Your Medicare Supplement policy will then pay its share of the expenses not covered by Original Medicare. Depending on the policy you choose, your Medigap plan may cover all the remaining costs.

Medigap Plans By the Letter

There are a variety of Medigap plans that provide varying deductibles, out of pocket limits, and cost-sharing. Each Medigap plan type is identified by a specific letter. These plans include A, B, C, D, F, Hi F, G, Hi G, K, L, and N.

All Medicare Supplement plans are standardized. Each lettered plan provides the same set of benefits from carrier to carrier. A Medigap plan C offered by one insurer will provide the same benefits as a Medigap plan C from another insurer. When comparing Medigap plans with the same letter from carrier to carrier monthly premiums and ancillary benefits are the variables to consider.

A Wide Selection of Carriers to Fit Your Needs

Alpine Agency is proud to offer a wide selection to ensure you get the plan that best satisfies your needs. A breakdown of plans offered include:

	A	B	C	D	F*	Hi F*	G	Hi G	K	L	N
BlueCross BlueShield SC
Aetna
Cigna
Mutual of Omaha
Americo
Shenandoah

**plans are not available for all letters A-N

*Plan F and High Deductible F are only available to individuals who turned 65 before January 1, 2020

Additional Coverage with Prescription Drug Plans

Medicare Supplement plans do not cover the cost of prescription drugs, dental, or vision. Many people commonly pair Medigap with a stand-alone Prescription Drug Plan (also known as PDP) to lower out-of-pocket medication costs. If you are already taking medication on a regular basis you may want to enroll in a PDP plan when you first become eligible. If you wait beyond the initial enrollment period you may be subject to federal penalties.

Alpine Agency offers numerous Prescription Drug Plans that vary in coverage and monthly premium. Learn more about Prescription Drug Plans and schedule a zero cost consultation with an experienced Alpine agent.

Medicare Supplemental Insurance in South Carolina

Medicare offers standard supplemental insurance policies everywhere in the US. Every coverage level carries a letter identifying the plan. Plans F, G, and N are the most popular in South Carolina, but you must compare all your options.

Plan F offers the most comprehensive coverage: no out-of-pocket expenses for copays or deductibles, excessive charges from Part B Medicare, or copays from skilled nursing homes. You are not eligible for Plan F unless you qualified for Medicare before 2020.

Next is Plan G, which offers the same coverage as F, but without the Part B deductible. This plan also has more affordable premiums than the other.

With Plan N, you pay the Part B deductible and copays — including copays for an emergency room visit. This plan is popular because it covers a range of services and has low premiums.

Depending on your medical needs, there can be pros and cons for each plan, so it is important to fully understand each option before you enroll.

Prices to Medicare plans adjust, each year you get older. For that reason, it is important to understand how this can impact you, financially, each year.

How an Insurance Agent Can Help

Selecting the right Medigap plan can be overwhelming. That’s where a knowledgeable insurance agent can help. At Alpine Agency, we specialize in helping South Carolina residents navigate the complexities of Medicare. Our experienced agents can assess your specific needs and recommend the most suitable Medicare plan for you.

We understand that choosing the right health insurance is an important decision. That’s why we offer personalized guidance and support throughout the enrollment process. Contact Alpine Agency today to schedule a consultation and learn more about how a Medicare Supplement plan can benefit you.

Medicare Supplement Plans in South Carolina: Frequently Asked Questions

Many South Carolina residents have questions about Medicare Supplement plans. Here are some common inquiries:

• Am I eligible for a Medigap plan? To be eligible for a Medigap plan, you must have Original Medicare (Part A and Part B). You can enroll in a Medigap plan during your Initial Enrollment Period whenever you are about to or just turned 65, or you can enroll during Annual Enrollment Period, which is from October 15 through December 7.
• Do I need a Medigap plan? Whether you need a Medigap plan depends on your individual health circumstances and financial situation. If you’re concerned about high out-of-pocket costs, a Medigap plan might be a good option.
• How do I choose the right Medigap plan? There are different types of Medigap plans, each with its own coverage and costs. It’s important to compare plans carefully to find the one that best suits your needs and budget.