Indiana: The Hoosier State
Indiana Medicare Plans
At the Benefit Link we work with great insurance companies offering Medicare Supplement plans for Indiana Senior residents. Many offer the most popular plans like Plan F and Plan G. Let us assist with the basics. Indiana Medicare Plans include 10 standardized options, lettered A – N. Each insurance company must offer at least Plan A, but companies can offer any of the other plans as well.
Indiana Medicare Supplement Plans
Indiana Medicare Supplement plans help to pay for the gaps in Medicare. Since Medicare does not pay for everything, beneficiaries are responsible to pay for things like deductibles and co-insurance. However, hospital deductibles can be quite expensive. This is where Indiana Medicare supplement plans can help.
Indiana Medicare Supplement Plans (Medigap)
Indiana Medicare Supplements are also sometimes called Indiana Medigap plans.
Medicare supplements were standardized by our federal government in 1990 to make it easier for consumers like you to compare plans. Each plan is now labeled with a letter, from A through N, which outlines the benefit package that comes with that plan.
Indiana Medicare Supplement Plan F is the most comprehensive of these plans. It covers both deductibles for hospital and outpatient services and also the 20% co-insurance that normally you would be responsible for on all Part B services. However, other Indiana Medigap plans are also popular for beneficiaries willing to do cost-sharing in exchange for lower premiums.
Indiana Medicare Supplement Plan G
Indiana Plan G functions exactly the same as Plan F with one exception. You agree to pay the once per year Part B deductible. In 2017, this deductible is $183. After that, Plan G pays everything else, just like Plan F.
Since you are paying the deductible, Plan G rates are often lower than Plan F. Many people find that the savings in premium is more than what they spend on the Part B deductible. The rest stays in your pocket.
Indiana Medigap Plans Enrollment
The best time for people 65 and up to enroll into a Medicare supplement is during your open enrollment. Your Medigap open enrollment window begins on your Part B effective date and lasts for six months.
If you apply during this time, the insurance company will accept your application. The insurance company cannot turn you down for pre-existing health conditions. This is why your Medigap open enrollment period is considered the best time to enroll in an Indiana Medigap plan.
Applications made later will require underwriting unless you are leaving other creditable coverage like employer group insurance. People leaving large employer group coverage when they retire after age 65 will have a shorter guaranteed issue window. They can apply for certain Medigap plans within 63 days of retiring and leaving the employer coverage. There is no medical underwriting during this time either.
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