Frequently Asked Questions
Please scroll down the page to read our comprehensive Frequently Asked Questions:
1. Q: What is the difference between a Medigap, and a Medicare Supplement?
A: Nothing. Just different terminology. Kind of like dog or Canine. It’s our wish that Medicare would mandate one term or the other to avoid confusion. Medicare in fact goes back and forth with both terms.
2. Q: What is the best Medicare Supplement Plan?
A: There is no best plan for everyone. It will vary depending on age, your location, your gender, and other circumstances, as well as your medical issues.
3. Q: Then how do I know which one is best for me.
A: Choose a Medicare Supplement plan from a highly rated carrier with a long track record. From that point the carrier that has the most cost advantageous premium. Work with your advisor to be certain that the rates offered, are not temporarily lowballed.
4. Q: What is the best method to go through this process?
A: This is a very important question, one we’ve given a lot of thought, and it deserves its own page!
5. Q: Will I know if the carrier I select will approve me?
A: Some people have an automatic issue period if they are new to Medicare or have lost employer coverage. Others have to qualify medically for a Medicare Supplement. Your advisor can give you a good indication if you will qualify
6. Q: From the time I put my application in, how long it will it take to get coverage?
A: If you are in an open enrolment period where medical underwriting is not necessary, it might go through in about 5 to 10 working days. If you require medical underwriting it could take 5 to 10 additional days. Things slow down greatly at the end of the year during the busy season.
7. Q: My Neighbor advised me to enroll in his Medicare Supplement plan. He says I will be accepted and that I should inform my current carrier now that I am dis-enrolling from their plan now. What should I do?
A: NEVER drop your current coverage until you are officially enrolled with your new carrier! Your Medicare Supplement advisor can help you handle the process so that you are still insured yet, are not paying two carriers for the same month!
8. Q: I’ve noticed that the Medicare Supplement Insurance companies use the same set of letters when they offer coverage. Is one carrier’s coverage more comprehensive than the other if we are comparing the same letter?
A: Not at all. In this case the plans are identical. Medicare designs the plans and assigns a letter. The carriers have to meet the benefits written by Medicare if they want to offer coverage.
9. Q: I’m worried that my Drs. won’t accept the Medicare Supplement plan that I am considering. My sister has coverage from a more well know carrier but it’s a lot more expensive. Is it more likely that my Dr. will accept her Medicare Supplement insurance than the cheaper one I’m looking at?
A: Not at all. Even the most well know Medicare Supplement plan that advertises all the time is not more widely accepted than the least know carrier. If your Dr. or Medicare Provider accepts Medicare, than he will be able to work with your Medicare Supplement. Often the lesser know carriers may be financially stronger than the one you see on TV all the time. Our company has had good experiences working with the smaller carriers. Sometimes Medicare Supplement Insurance companies that advertise a lot pass those costs on to its members.
10. Q: I never had to worry if my Drs. participated with my employers Blue Cross plan. Will my Medicare Card, and my Medicare Supplement be as widely accepted as what I have now?
A: Medicare Supplements, combined with Medicare, are the most widely accepted form of health care coverage in the country. Period.
11. Q: I spend summers in the Midwest, but in the Winter, I’m in Texas for 4 months. Will my Medicare Supplement charge me out of network fees if I see a Dr. in Texas?
A: Absolutely not. It’s one of the great advantages of a Medicare Supplement! We have many, many clients that do this.
12. Q: My father has a plan that includes drug coverage. Can I get a Medicare Supplement that has the drug coverage built in?
A: Medicare Supplements no longer offer drug coverage. In rare cases in the past they did, but they are no longer legally allowed to. Your Father may have a Medicare Advantage Plan, or an employer plan.
13. Q: If I need drug coverage then, I will have to have a standalone plan?
A: Correct, unless you have some employer coverage with drug benefits and no medical benefits, or coverage from the VA. If you have any significant drug costs, than you very likely will be better off with a standalone plan. We can help you chose the most cost effective option from the dozens of options that are available to you.
14. Q: In a year to two my spouse and I will be relocating to another state to be near our daughter. Will we have to find new coverage?
A: Most likely you will not. Most carriers will carry over the coverage to another state. You will have to inform the carrier that you have moved, and they may adjust your rates. We will consider this scenario when helping you select a plan.
15. Q: I am not in any kind of an open enrolment period. I have a lot of health issues and am afraid that I will not qualify for a Medicare Supplement? What should I do?
A: Conduct a phone conversation with our office. Please have a clear understanding of what your medical issues are and a list of your medications. We may be able to give you immediate insight in regards to your eligibility with our Medicare Supplement. If not, we will conduct conversations with Medicare Supplement underwriters to gain more insight about your eligibility.
16. Q: What if I cannot qualify?
A: We will work with you to find you a Medicare Advantage Plan that will best suit your needs. Depending upon your situation we may not be allowed to apply until the fall.
17. Q: I’m unhappy with my current Medicare Supplement plan, and would like to explore other Medicare Insurance Options. Do I have to wait to the Annual Enrolment Period in the fall?
A: No you can change Medicare Supplements at any time of the year. You may have to medically qualify.