Montana Medicare Supplement
If you are about to celebrate your 65th birthday soon, it is high time you start thinking about what happens next once you retire from the workforce. Americans and permanent residents in the US who have access to Medicare know very well that while the government has quite a robust offering with its insurance policy, there remain plenty of healthcare services and payments that it does not cover.
Some people are satisfied with the basic features of an Original Medicare program, but given the changing times (and continuously rising cost of staying fit and healthy), having additional coverage has also become necessary.
This is the main reason why Medicare Supplements (also called Medigap) were created. Sanctioned by the state, Medigap plans feature different tiers of healthcare coverage that mostly involves coinsurance, copayments, and deductibles. However, while the inclusions of the 10 Medigap plans (labelled in letters A to N) are predetermined by the government, the task of selling them to the market has been passed down to private insurance agencies.
That said, it can happen that insurers will price different monthly premiums on the Medigap plans they offer for sale, but the level of coverage for specific conditions will be the same across the country. Fortunately, for those who live in Montana, there are dozens of insurance companies that sell Medicare Supplement policies—and your task as the buyer will be compare offerings and pricing and then discern which provider best meets your budget and needs.
Basic Inclusions of a Montana Medicare Supplement Plan
As mentioned, the coverage of a Medigap plan, whether you are a resident of Montana or any other US state, is uniform. Although the government is unable to pay for all the medical expenses a person might encounter after he or she turns 65 years old, it has at least standardized the inclusions to ensure that everybody gets the same benefits. Here are the basic inclusions of a Medicare Supplement plan.
Benefits | Medigap Plans That Cover It |
Medicare Part A coinsurance and hospital costs | A, B, C, D, F, G, K, L, M, N |
Medicare Part B coinsurance or copayment | A, B, C, D, F, G, K (50%), L (75%), M, N |
Part A hospice care coinsurance or copayment | A, B, C, D, F, G, K (50%), L (75%), M, N |
Skilled nursing facility care coinsurance | C, D, F, G, K (50%), L (75%), M, N |
Blood (first 3 pints) | A, B, C, D, F, G, K (50%), L (75%), M, N |
Part A deductible | B, C, D, F, G, K (50%), L (75%), M, N |
Part A deductible | C and F |
Part B excess charges | F and G |
Foreign travel emergency (up to plan limits) | C, D, F, G, M, N (all 80%) |
Because the degree of coverage differs per plan, this means that the monthly premiums are also different. Get in touch with the Montana Medigap policy provider nearest you or any other insurer in your state to find out more about their rates and other extras or add-ons that they might offer.
Take note that private insurance companies are not required to sell all of the 10 Medigap plans and they have the liberty to choose which ones will best fit their target market. However, as per guidelines, all agencies should sell Medigap Plan A. They are also mandated to offer either Plan C or Plan F to those who are not new to Medicare and either Plan D or Plan G to those who are new. In addition, know that Plan E, Plan H, Plan I, and Plan J are no longer being sold. However, if you already have one, then you may continue to enjoy their respective coverages.
What a Medigap Policy Does NOT Include
While a Medicare Supplement plan is already pretty comprehensive (depending on your policy), there still are certain services and products that are not covered. If you are interested to obtain insurance for these, then you will need to take on an additional policy. Some insurers offer discounts on extra coverage if you purchase these from them, as well.
Medigap does NOT cover the following items:
Vision and dental care
Hearing aids and eyeglasses
Long-term care (like non-skilled care in a nursing home setting)
Private-duty nurse services
The Ideal Time to Apply for a Montana Medicare Supplement Plan
The best time to apply for any Medigap policy is during your Open Enrollment Period, or OEP. This refers to the six-month window wherein anybody who applies for any Medicare Supplement plan is guaranteed approved and will not be required to undergo any medical underwriting procedures.
This starts on the month that you celebrate your 65th birthday. It is important that you get yourself an insurance policy during this window because if you miss your OEP, then you run the risk of not getting approved or being compelled to pay a higher monthly premium. Meanwhile, if you do manage to enroll during your OEP, then you will certainly get any plan of your choice regardless of your health status.
Medigap Plans in Montana
When it comes to the cost of a Medicare Supplement policy, Montana belongs to the pricier end of the spectrum. In 2019, the average monthly rate for Plan F was $127.16 (or $1,526 per year). To give you an idea of the pricing differences according to state, Hawaii ranks as having the lowest average at $109.16 (or $1,310 annually), while Massachusetts has the highest pricing at $162.25 (or $1,947 annually).
Have More Questions?
If you need more help in understanding how Medigap works and what options are available in Montana, then our team of Medicare Supplement advisors will be happy to assist. We will help walk you through the entire process, from selection to purchase, so that you have the best possible Medigap coverage. Contact us at 1-800-791-0150.
