Medicare Supplement Plans in Montana
This article was updated on: 11/01/2018
Original Medicare is a popular option in Montana; about 80% of enrollees choose Medicare Part A and Part B over Medicare Advantage, according to the Centers for Medicare and Medicaid Services (CMS).
Without Medicare Supplement in Montana, it may be hard to predict your out-of-pocket Medicare costs. As you know, there is no cap on out-of-pocket expenses with Original Medicare. A Medicare Supplement (Medigp) plan in Montana can help you pay for Medicare out of pocket expenses such as copayments, coinsurance and deductibles under Original Medicare.
If you’re considering Original Medicare for your health care coverage, this article will help you decide if Medicare Supplement in Montana is a good option for you.
What does Medicare Supplement in Montana cover?
Medicare Supplement plan benefits are standardized at the federal level, so a Medicare Supplement plan in Montana has the same basic benefits as Medicare Supplement plans in any other state, except for Wisconsin, Minnesota, and Massachusetts, which have slightly different rules.
All Medicare Supplement plans generally cover 100% of your Part A coinsurance for inpatient care, including an additional 365 days of coverage after Original Medicare runs out. They all generally pay 50% or more of your Part B coinsurance, your Part A coinsurance for hospice care, and your first three pints of blood.
From there, the Medicare Supplement plans offer differing levels of coverage for your Part A and Part B deductibles, skilled nursing facility coinsurance, and Part B excess charges. Two plans, Medicare Supplement Plan C and Plan F, offer “first dollar” coverage, which means both the Medicare Part A and Part B deductibles are covered, so your Medicare Supplement plan in Montana may kick in the first time you use your Medicare benefits.
When can I enroll in Medicare Supplement plan in Montana?
You are eligible for Open Enrollment for Medicare Supplement plans in Montana the month you are both 65 or older and enrolled in Part B. Open Enrollment lasts for six months. During that period, you may buy any Medicare Supplement plan sold in Montana, and you can’t be charged a higher premium based on your health status.
If you think you’ll want a Medicare Supplement plan, you should definitely buy one when you are first eligible. Here’s why: Medicare Supplement plan in Montana is offered by private insurance companies, and under Medicare rules, they are only required to sell you a plan when you have “guaranteed issue” rights during Open Enrollment, and in certain other limited situations.
If you don’t have guaranteed issue rights, you may have to pass medical underwriting in order to buy a plan. If you have any serious health issues, you may not be able to purchase the plan you want, or you might be charged a higher premium if you are approved.
How much does Medicare Supplement plan in Montana cost?
Unlike Part A and Part B, where the federal government sets the premiums for everyone, Medicare Supplement in Montana is offered by private insurers, and each company sets its own premiums. So there’s no “standard” premium for Medicare Supplement plans.
That said, it’s still important to pay attention to how the plans you are interested in are rated, or priced. There are three ways to rate Medicare Supplement plan in Montana, and your premium increases depend, in part, on how your plan is rated.
Insurers can choose to “community-rate” a plan, which means everyone pays the same premium regardless of age, “issue age-rate” a plan, which means your premium is based on your age when you purchase the plan, or “attained age-rate” the plan, which means your premiums start lower and go up as you get older.
What else should I know about Medicare Supplement plan in Montana?
Medicare Supplement plan in Montana does more than just help with your out-of-pocket expenses under Part A and Part B. Some plans actually cover your emergency health care when you’re traveling internationally, which is something Original Medicare doesn’t cover, except in extremely limited situations. If you travel abroad, or plan to, this may be an attractive benefit.
However, Medicare Supplement plans don’t cover any out-of-pocket costs associated with prescription drugs, including your copayments, deductibles, or coinsurance amounts with a Part D Prescription Drug Plan. They also don’t cover any Part A, Part B, or Part D premiums.
It’s a good idea to consider your future health care needs when you’re evaluating Medicare Supplement plans in Montana. There’s no Annual Election Period for Medicare Supplement, as there is for other Medicare products, and you have no guaranteed right to switch plans if you decide you need more coverage. If you want a Medicare Supplement plan, buy the plan that you think will best meet your needs now, and in the future.
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