Medicare Supplement Plans in New Hampshire
This article was updated on: 11/01/2018
With Original Medicare (Part A and Part B) in New Hampshire, there is no limit on out-of-pocket costs; this means that one serious health event could leave you with thousands of dollars in medical bills.
That’s where Medicare Supplement plans in New Hampshire come in. If you’re considering Part A and Part B for your Medicare coverage, here’s what you should know about Medicare Supplement (Medigap) plans to help you cover out of pocket costs.
What do Medicare Supplement plans in New Hampshire cover?
All Medicare Supplement plans in New Hampshire cover all or part of your Part A coinsurance (plus an additional 365 days of benefits after Medicare runs out), your Part A hospice copayments or coinsurance, your first three pints of blood, and your Part B coinsurance. After that, the 10 Medicare Supplement plans have different levels of coverage, with the most comprehensive one (Plan F) also paying 100% of your Part A and Part B deductibles, skilled nursing facility coinsurance, and Part B excess charges. Those who choose Plan F pay very little out-of-pocket for services covered by Medicare.
The 10 different Medicare Supplement plans are standardized at the federal level, which means that Medicare Supplement plans in New Hampshire have the same basic benefits as Medicare Supplement plans in any other state, except for Massachusetts, Minnesota, and Wisconsin, which have slightly different rules.
When can I enroll in Medicare Supplement plans in New Hampshire?
Medicare Supplement plans in New Hampshire are a bit different than other types of Medicare products; you don’t get to review your plan each year and switch to another during the Annual Election Period. You have a once in a lifetime Open Enrollment Period, which begins the month you are both age 65 or older and enrolled in Part B, and extends for six months.
During that time, you have guaranteed issue rights, which means that you can buy any Medicare Supplement plans in New Hampshire, and you can’t be charged a higher premium based on your health. After that, except in very specific situations, there’s no guarantee you can buy the plan you want.
This is because Medicare Supplement plans are offered by private insurance companies, and they can require medical underwriting before they sell you a plan. If you have pre-existing conditions, or other serious health issues, you may be denied, or charged a higher premium than others in the plan.
If you think you’ll want Medicare Supplement coverage, you should buy it when you are first eligible.
How much do Medicare Supplement plans in New Hampshire cost?
Premiums are set by the insurance companies themselves, unlike Part A and Part B premiums, which are set at the federal level. Because of this, premiums can vary significantly from plan to plan and company to company.
Plans are priced in one of three ways, and it’s important to know which way your plan is priced before you buy:
- Community rated, where premiums are the same for everyone who buys the plan.
- Issue-age rated, where your premium is based on the age you are when you originally buy the plan.
- Attained-age rated, where your premiums start out low but increase as you hit certain age markers.
It’s a good idea to consider the coverage you’ll want in the future, not just what you need today, when you choose Medicare Supplement plans in New Hampshire. You may not be able to get more coverage later on if you decide you want it.
What else should I know about Medicare Supplement plans in New Hampshire?
Congress made significant changes to the Medicare program in 2015, one of which directly affects Medicare Supplement plans in New Hampshire. As of January 1, 2020, insurers are no longer allowed to sell plans that cover the Part B deductible. This means that two of the most popular plans, Plan C and Plan F, will no longer be available.
If you think you want one of these plans, you can buy it as soon as you are eligible up until December 30, 2019. If you do, you’ll be allowed to keep your plan even after the new rule goes into effect. No new plans will be sold after that time.
Keep in mind that Medicare Supplement plans don’t cover out-of-pocket costs for prescription drugs, or copayments or coinsurance amounts for Part D Prescription Drug Plans. Medicare Supplements also cannot be used with Medicare Advantage plans.
If you want to start comparing Medicare Supplement plans in New Hampshire, enter you zip code on this page.
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