What Do I Need to Know about Medicare Supplement Insurance Plans in Georgia?
Georgia Bulldog fans are born knowing the gap between football season and the rest of the year. However, there’s another gap worth exploring. These are some of the “gaps” between what’s covered by Medicare Parts A and B and what is not. The gap includes important things such as copayments, coinsurance and deductibles. Medigap plans or Medicare Supplement Insurance plans assist with out-of-pocket costs. Medigap Supplement Insurance plans are available from private insurance companies throughout the state of Georgia.
In 2022, Georgians have 10 Medigap or Medicare Supplement Insurance plans from which to choose. These include basic benefits from Plans A, B, D, G, K, L, M and N. Medigap Plans C, E, F, H, I and J are no longer available to those who are newly eligible to Medicare but enrollees are grandfathered into these plans.
As of 2020, Medicare Supplement plans will no longer sell Medigap plans C or F to newly eligible Medicare members. Congress has decided that new Medigap plans will no longer be allowed to cover the Part B deductible after January 1, 2020. This will only affect Medicare Supplement plans C and F as these are the only Medigap plans that cover the Part B deductible. Anyone enrolled in Medigap Plan C or F as of December 31, 2019, will be grandfathered and will be able to continue to use their plan as long as they want.
Georgia residents looking for the most popular Medicare Supplement Insurance plans need to first look at their specific coverage needs to determine what type of Medigap plan they may need.
Most Popular Medicare Supplement Insurance Plans in Georgia
The government-approved Medicare Supplement Insurance plans help protect consumers in most states, including Georgia. The statistics you see below show the most popular Medigap options selected by Georgia residents. The insurance companies offering Medigap plans offer the same basic benefits, but those plans may come at different prices and each insurer in Georgia may not offer each of the available Medigap Supplement Plans.
As reported by AHIP, 378,730 Georgia beneficiaries enrolled in a Medigap policy in 2019. Below is the breakdown of the number of Georgia enrollees by Medigap plan type.
Source: AHIP. Reflects data through December, 2019.
Source: AHIP. Reflects data through December, 2019.
While a Medigap policy will help pay for things like copayments, coinsurance and deductibles not covered by Medicare Parts A and B, it is important to note that your Georgia Medicare Supplement Insurance plan will not cover benefits for prescription drugs. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs or consider a Georgia Medicare Advantage plan, which typically covers prescriptions drugs and may also include other benefits, such as dental, vision and hearing coverage as well as gym memberships.
Learn more about your Medicare Supplement Insurance plan options in Georgia by working with a SelectQuote licensed sales agent. Acting as your advocate, our licensed sales agents can guide you through the Medicare maze to better understand Medigap plan options and answer any questions you may have throughout the process. SelectQuote individually shops more than 20 national insurance companies to help you compare Medicare Supplement Insurance plans in Georgia.
Georgia residents cannot be enrolled in a Medicare Supplement (Medigap) Insurance plan and a Medicare Advantage Plan at the same time. A Medigap Plan cannot be used to pay for any expenses for a Medicare Advantage plan.
Georgia Medicare Supplement Plan Enrollment Period
Initial enrollment timeframes are very important. Enrollment for Medicare Supplement Insurance plans in Georgia begins the first day of the month you turn at least 65 years old. You also must be enrolled in both Medicare Parts A and B in order to get a Medigap plan.
Georgia residents have a six-month period surrounding their birth month to buy a Medicare Supplement Insurance plan. Georgia residents under the age of 65 can check with the Social Security Administration office for additional enrollment periods.
The best time to enroll in a Medicare Supplement Insurance plan is during the initial 6 months you are eligible for Medicare. During this important six-month period, companies that offer Medicare Supplement Insurance plans cannot use underwriting. In other words, during this timeframe your acceptance is guaranteed. It’s a good idea for Georgians to enroll as soon as they are eligible. Did you know this can be as early as 64 and 6 months of age? If you apply for Medicare Supplement Insurance outside of this 6-month timeframe, you’ll be subject to a physical exam. Applying for Medigap coverage after the first six months of eligibility means a company can refuse to sell you a plan or your premiums may also adjust depending on current health status and pre-existing health conditions.
Is a Georgia Medicare Supplement Insurance Plan Right for You?
Working with a SelectQuote licensed sales agent means you don’t have to go it alone. SelectQuote can help ensure you are getting all the available benefits you deserve while staying up to date with annual updates to Medicare plans made by insurance companies. As a trusted independent third-party company specializing in helping consumers understand their Medicare Insurance options, SelectQuote is here to help Georgia residents find the right Medicare Supplement Insurance plan to meet their needs.
To ensure you are getting all the benefits you are entitled to receive, call or complete your online form today. Let SelectQuote’s personal licensed sales agents simplify the Medicare maze by comparing rates and independently shopping insurance companies to help you find an affordable option that meets your unique needs.