Medicare Supplement in Colorado

Jory Cross by Jory Cross | Licensed since 2012
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This article was updated on: 10/12/2018

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Why would I want Medicare Supplement in Colorado?

If you have Original Medicare (Part A and Part B) in Colorado you may know that you are responsible for various out-of-pocket costs including copayments, coinsurance, and deductibles. A Medicare Supplement plan in Colorado may help you cover these out-of-pocket costs.

A Medicare Supplement plan may be particularly helpful if you face extensive hospitalization, have frequent doctor visits, or travel abroad and have a foreign travel emergency. If you’re looking for a plan that will give you an out-of-pocket maximum, Medicare Supplement plans K and L might be what you’re looking for. Otherwise, Original Medicare has no out-of-pocket maximum.

How can I choose a Medicare Supplement plan in Colorado?

There are 10 Medicare Supplement plans in Colorado, as in most of the rest of the other states. They are marked by the letters A, B, C, D, F, G, K, L, M and N. Medicare Supplement plans are standardized, meaning that all plans of the same letter offer the same basic benefits, regardless which private insurance company in Colorado offers the plan. All Medicare Supplement plans cover the Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted at 100%. Beyond this one benefit, the plans differ. Here are some things to consider:

  • Only plans K and L have an out-of-pocket maximum
  • Six plans cover foreign travel emergencies up to plan limits at 80%
  • Only two plans cover the Part B deductible
  • Some plans cover skilled nursing facility (SNF) coinsurance but varying amounts: 50%, 75% and 100%
  • Some plans also cover Medicare Part A hospice coinsurance at varying amounts: 50%, 75% and 100%

This Medicare Supplement Comparison chart may help you compare Medicare Supplement plans in Colorado.

How much do Medicare Supplement plans in Colorado cost?

The premiums of Medicare Supplement plans in Colorado vary from plan to plan. Note that in Colorado and same as everywhere else, high deductible plan F may have a lower premium than other plans.

What else should I know about Medicare Supplement plans in Colorado?

Federal law does not require the private insurance companies that sell Medicare Supplement plans in Colorado to sell them to people under 65. However, Colorado is a state that requires private insurance companies to sell at least one kind of Medicare Supplement plan to Medicare beneficiaries under 65.

Medicare Supplement is the one kind of Medicare option that can have medical underwriting. Medical underwriting is when insurers consider your medical conditions and health history before deciding whether or not to insure you and how much to charge you. During your Medicare Supplement Open Enrollment Period (OEP), insurers cannot use medical underwriting on you. Your Medicare Supplement Open Enrollment Period begins when you are both 65 and enrolled in Medicare Part B and lasts for six months. You can apply for a Medicare Supplement plan whenever you’d like. But if your OEP is over, the insurance company decide to charge you more, or even reject you, if you have a health condition. Read about other times (besides your OEP) when you might have a guaranteed-issue right to buy a Medicare Supplement plan in Colorado.

Keep in mind that Medicare Supplement in Colorado generally does not cover prescription drugs. For prescription drug coverage you generally need a Medicare Part D Prescription Drug Plan.

Medicare Supplement plans only work alongside Original Medicare. You cannot use a Medicare Supplement plan together with Medicare Advantage.

For an instant list of plans in your area, click the Find Plans or Compare Plans buttons on this page.

The product and service descriptions, if any, provided on these Medicare.com Web pages are not intended to constitute offers to sell or solicitations in connection with any product or service. All products are not available in all areas and are subject to applicable laws, rules, and regulations.

 

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