Medicare Supplement Plans in Indiana
This article was updated on: 10/12/2018
You may be able to use a Medicare Supplement plan in Indiana to help pay your Medicare Part A and Part B out-of-pocket costs. Examples of some of the expenses that a Medicare Supplement plan in Indiana may help pay for include copayments, coinsurance, and deductibles.
Medicare Supplement plans in Indiana: a quick overview
Here’s a quick rundown of what Medicare Supplement plans in Indiana are all about. They work the same way nationwide.
Medicare Supplement (Medigap) insurance is meant to work alongside your Medicare Part A and Part B coverage. It may cover your out-of-pocket costs such as deductibles, copayments, and coinsurance. For example, if you have a doctor visit with a specialist, suppose the total cost is $250. Under Part B, the coinsurance amount is typically 20% – in this case, that’s $50. Most Medicare Supplement plans would generally cover that $50. That’s assuming that you’ve already paid your Part B deductible.
Most standardized Medicare Supplement plans in Indiana usually cover the Part B coinsurance amount. Different plans may cover different portions of this coinsurance; most cover it at 100%, but some plans cover it at 50% or 75%. So, if you had to see a specialist many times a year, and perhaps had lab tests and other Part B services, you might save hundreds of dollars a year.
Perhaps more dramatic is your potential savings under a Medicare Supplement plan in Indiana if you end up in the hospital. Depending on how long you stay as an inpatient, your medical bills could get quite high. Medicare Part A (hospital insurance) generally covers your inpatient hospital expenses for the first 60 days (once you’ve paid your Part A deductible). However, if you’re in the hospital for more than 60 days, you generally pay a coinsurance amount every day. If you’re an inpatient longer than 90 days, your coinsurance typically goes higher. All standardized Medicare Supplement plans in Indiana typically cover your Part A inpatient hospital costs and coinsurance for up to a full year (365 days) after Medicare benefits have maxed out.
Medicare Supplement plans in Indiana: how they work
There are up to 10 Medicare Supplement plans in Indiana, sold by private insurance companies. The same is true in 46 other states. They plans are named with letters, such as Medicare Supplement Plan A. Different Medicare Supplement plans in Indiana have different sets of basic benefits. For example:
- Medicare Supplement Plan A doesn’t cover the Medicare Part A or Part B deductibles.
- Medicare Supplement Plan B generally covers the Part A deductible, but not the Part B deductible.
- Medicare Supplement Plan C generally covers both deductibles.
There are other Medicare Supplement plans, and several other benefits that different Medicare Supplement plans in Indiana may cover – this is just a small example.
Any standard Medicare Supplement plan includes the same basic benefits wherever you buy the plan – from any insurance company that sells Medigap plans and in whatever state. But the same plan, offering the same basic benefits, can cost more from one insurance company than from another.
Medicare Supplement plans in Indiana: when can you buy one?
You can apply for a Medicare Supplement plan in Indiana anytime; you need to be enrolled in both Medicare Part A and Part B to qualify. The same is true in other states.
It’s generally best to buy a Medicare Supplement plan in Indiana during your Medicare Supplement Open Enrollment Period (OEP). That’s because during this period, no Medicare Supplement plan can charge you more or reject your application if you have a pre-existing health condition. The OEP starts the first month you’re both age 65 or over and enrolled in Medicare Part B, and it runs for six months.
Again, you can apply for a 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 Indiana.
To shop for a Medicare Supplement plan, feel free to enter your ZIP code in the box on this page and see what’s available in your area.
Medicare Supplement plans in Indiana: what else should I know?
Here are a couple of other interesting facts about Medicare Supplement plans in Indiana (and nationwide):
- In most cases they’re guaranteed renewable. As long as you keep paying your plan premium and you were truthful on your application, generally the plan cannot drop you as a member unless the insurance company becomes insolvent or bankrupt.
- Most Medicare Supplement plans in Indiana let you see any doctor, specialist, hospital, clinic, etc. that accepts Medicare assignment.
- Medicare Supplement plans do come with monthly premiums. Even the same plan, such as Medicare Supplement Plan K, can have different costs when purchased from different companies – even though the basic benefits are the same.
- The best time to buy a plan may be during a certain six-month window. Read more about the Medicare Supplement Open Enrollment Period.
Would you like some assistance comparing Medicare Supplement insurance plans? I’d be happy to help.
- To start comparing plans in your area, click the Find Plans or Compare Plans buttons on this page.
- To ask me to email you customized information, or to set up a call with me, follow the links below.
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.