Medicare Supplement Plans in Nevada
This article was updated on: 11/01/2018
Original Medicare (Part A and Part B) covers many hospital and medical expenses, but you still may be responsible for various out-of-pocket costs including deductibles, copayments, and coinsurance amounts. In fact, there’s no maximum limit on your out-of-pocket expenses under Original Medicare.
That’s where Medicare Supplement plans in Nevada come in. If you’re considering Medicare Part A and Part B for your Medicare coverage, a Medicare Supplement plan may help you better budget for your health care expenses.
What do Medicare Supplement plans in Nevada cover?
Although Medicare Supplement plans in Nevada are offered by private insurance companies, benefits for each of the 10 different plans are standardized by the federal government. All of the Medicare Supplement plans in Nevada generally cover 100% of your Medicare Part A hospital coinsurance amounts, plus an extra 365 days after your Part A benefits run out. All plans also generally cover between 50% and 100% of your Part B coinsurance and copayment amounts, your first three pints of blood, and your Part A hospice coinsurance.
From there, the plans offer different coverage levels for your Part A and Part B deductibles, skilled nursing facility coinsurance, and Part B excess charges. Some Medicare Supplement plans in Nevada even include benefits for emergency health services when you travel internationally.
Note, however, that none of the plans cover your Medicare Part A or Part B premiums, or any out-of-pocket expenses associated with prescription drugs or Part D out-of-pocket expenses. Medicare Supplement plans generally only pay for expenses associated with covered services under Medicare Part A and Part B.
When can I enroll in Medicare Supplement plans in Nevada?
Open Enrollment for Medicare Supplement plans in Nevada begins the month you are both age 65 or older and enrolled in Part B, and extends for six months. During this period, you have guaranteed issue rights, meaning you can buy any plan sold in Nevada, and you can’t be charged a higher premium based on your health status.
After your Open Enrollment period, you lose your guaranteed issue rights, except in certain situations. Without guaranteed issue protections, the insurance company may require medical underwriting before it will sell you a plan. Medical underwriting looks at your past medical history and current health status; if you are at high risk for serious health issues, or you have a chronic condition, you may not be able to buy the plan you want.
If you think you want one of the Medicare Supplement plans in Nevada, you should buy it when you’re first eligible to ensure you get the plan that’s right for you.
How much do Medicare Supplement plans in Nevada cost?
Each insurance company sets its own plan premiums, so they can vary significantly from company to company and plan to plan. Premiums can go up each year due to inflation and other factors, but some plans are structured to have lower premiums when you first buy them, and rise significantly as you reach certain age markers. It’s important to know how your plan is priced before you make a decision.
Basically, Medicare Supplement plans in Nevada are priced, or rated, in one of three ways:
- Community rated—Everyone pays the same premium regardless of age.
- Issue-age rated—Your premium is based on your age when you buy the plan.
- Attained-age rated—The premiums typically start out lower than community- or issue-age-rated plans, but as you get older, they get progressively more expensive.
The good news is that once you buy your plan, your premiums can’t go up because your health status changes, and, generally speaking, you can’t lose your coverage as long as you continue paying your premiums.
What else should I know about Medicare Supplement plans in Nevada?
Medicare Supplement plans in Nevada only work with Original Medicare; if you choose Medicare Advantage, you can’t benefit from a Medicare Supplement plan.
Two plans, Plan C and Plan F, pay 100% of both your Part A and Part B deductibles, which means that your benefits kick in the first time you get health care covered by Medicare. Plan F also covers your Part B excess charges, which means you’ll have very few out-of-pocket expenses for covered care with this plan.
Unfortunately, Congress recently passed legislation phasing out plans that cover the Part B deductible beginning January 1, 2020. This means that you will no longer be able to buy Plan C or Plan F after December 31, 2019. However, if you already have one of those plans before the phase-out date, you’ll be able to keep it.
To begin comparing Medicare Supplement plans, enter your zip code on this page.
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