Home / Insurance / The Ultimate Guide to AARP Medicare Supplement Plans: Everything You Need to Know
aarp medicare supplement plans

The Ultimate Guide to AARP Medicare Supplement Plans: Everything You Need to Know

Are you over 65 years old and wondering how to cover the gaps in your Medicare coverage? AARP Medicare Supplement Plans might be the answer you’re looking for. With 38 million members, AARP is one of the most trusted organizations in America, and its Medicare Supplement Plans offer a variety of options to help you pay for healthcare services that are not covered by Medicare. In this ultimate guide, we’ll cover everything you need to know about AARP Medicare Supplement Plans, including what they are, how they work, and the benefits they offer.

What are AARP Medicare Supplement Plans?

AARP Medicare Supplement Plans, also known as Medigap Plans, are health insurance policies offered by private insurance companies to cover the “gaps” in Medicare coverage. These gaps include coinsurance, copayments, and deductibles that you would have to pay out of pocket with Original Medicare.

How do AARP Medicare Supplement Plans work?

When you enroll in an AARP Medicare Supplement Plan, you pay a monthly premium to the insurance company in addition to your Medicare Part B premium. The insurance company then pays for the healthcare services covered by your plan, such as coinsurance, copayments, and deductibles. You can use your plan to pay for services from any healthcare provider that accepts Medicare.

See also  10 Surprising Ways Liberty Mutual Home Insurance Can Save You Money

What are the benefits of AARP Medicare Supplement Plans?

AARP Medicare Supplement Plans offer many benefits, including:

  • Predictable costs: With an AARP Medicare Supplement Plan, you can avoid unexpected healthcare expenses by knowing exactly what you will pay for covered services.
  • Flexibility: You can choose from a variety of plans with different levels of coverage, depending on your healthcare needs and budget.
  • Nationwide coverage: AARP Medicare Supplement Plans are accepted by any healthcare provider that accepts Medicare, so you can use your plan anywhere in the United States.

What are the different types of AARP Medicare Supplement Plans?

There are nine different types of AARP Medicare Supplement Plans, each offering a different level of coverage. They are:

Plan A

Plan A is the most basic plan, covering only the Medicare Part A coinsurance and hospital costs for up to 365 days after Medicare benefits are exhausted.

Plan B

Plan B covers everything that Plan A covers, plus the Medicare Part B coinsurance.

Plan C

Plan C covers everything that Plan B covers, plus the Medicare Part A deductible, skilled nursing facility coinsurance, and emergency care while traveling outside of the United States.

Plan F

Plan F covers everything that Plan C covers, plus the Medicare Part B deductible, excess charges, and 100% of the Part B coinsurance. Note that Plan F is no longer available to new Medicare beneficiaries as of January 1, 2020.

Plan G

Plan G covers everything that Plan F covers, except for the Medicare Part B deductible. This plan is a great option for those who want comprehensive coverage without the high premium of Plan F.

Plan K

Plan K offers a lower premium but higher out-of-pocket costs than other plans. It covers 50% of Medicare Part A coinsurance, hospice care coinsurance or copayment, and skilled nursing facility care coinsurance.

See also  The Top 5 Benefits of Choosing USAA Car Insurance for Your Next Vehicle

Plan L

Plan L also has a lower premium but higher out-of-pocket costs than other plans. It covers 75% of Medicare Part A coinsurance and hospice care coinsurance or copayment, and 75% of the skilled nursing facility care coinsurance.

Plan M

Plan M covers everything that Plan A covers, plus 50% of the Medicare Part A deductible and emergency care while traveling outside of the United States.

Plan N

Plan N covers everything that Plan A covers, plus the Medicare Part B coinsurance (except for a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in an inpatient admission), and emergency care while traveling outside of the United States.

How to enroll in AARP Medicare Supplement Plans?

To enroll in an AARP Medicare Supplement Plan, you must first be enrolled in Medicare Part A and Part B. Then, you can apply for a plan during the open enrollment period, which lasts for six months and begins on the first day of the month in which you turn 65 or older. During this time, insurance companies cannot deny you coverage or charge you higher premiums due to your health status.

How to compare AARP Medicare Supplement Plans?

To compare AARP Medicare Supplement Plans, you can use the Medicare Supplement Insurance Plan Finder tool on the Medicare website. This tool allows you to compare the different plans available in your area, their benefits, and their costs.

Frequently Asked Questions (FAQs)

  1. What is the difference between Medicare Advantage and Medicare Supplement Plans?

    Medicare Advantage Plans are offered by private insurance companies to provide Medicare Part A and Part B benefits, while Medicare Supplement Plans are designed to fill the gaps in Original Medicare. Medicare Advantage Plans often have lower premiums than Medicare Supplement Plans, but they may have more restrictions on where you can receive care.

  2. Can I switch from one Medicare Supplement Plan to another?

    Yes, you can switch from one Medicare Supplement Plan to another, but you may be subject to medical underwriting, which could result in higher premiums or denial of coverage.

  3. Are AARP Medicare Supplement Plans available in all states?

    No, AARP Medicare Supplement Plans are not available in all states. However, there are other Medicare Supplement Plans offered by private insurance companies in every state.

  4. Do I need to be an AARP member to enroll in AARP Medicare Supplement Plans?

    No, you do not need to be an AARP member to enroll in AARP Medicare Supplement Plans. However, AARP members may be eligible for additional discounts or benefits.

  5. How much do AARP Medicare Supplement Plans cost?

    The cost of AARP Medicare Supplement Plans varies depending on your age, gender, location, and the plan you choose. You can get a quote from AARP or from other insurance companies that offer Medicare Supplement Plans.

See also  10 Surprising Benefits of Having the Best Health Insurance Coverage

Check Also

travel insurance international

The Ultimate Guide to Choosing the Best Travel Insurance for International Trips

Are you preparing to travel abroad soon? You should think about getting travel insurance before …

Leave a Reply

Your email address will not be published. Required fields are marked *