What Medicare Supplement Insurance Plans Are Available in Louisiana?
Louisiana is filled with streams that crisscross the Bayou. Successfully getting from one place to another means staying aware of any gaps on the route. In Medicare Parts A and B there are also healthcare coverage gaps to navigate in your healthcare journey. Medicare covers approximately 80% of healthcare costs making it necessary for Medicare recipients to cover “gaps” such as copayments, coinsurance and deductibles. A Medigap or Medicare Supplement Insurance plan can help to cover these gaps.
In Louisiana, Medicare Supplement Insurance plans are a way to reduce the risk and the unknowns of out-of-pocket costs. Medigap Supplement Insurance plans are available from private insurance companies throughout Louisiana.
In 2022, Residents of Louisiana 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 anyone enrolled in these plans are grandfathered into them.
As of 2020, Medicare Supplement Insurance 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 a 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.
Louisiana residents looking for the most popular Medicare Supplement Insurance plans need to first look at their specific coverage needs to determine what Medigap plan to consider.
Most Popular Medicare Supplement Insurance Plans in Louisiana
The government-approved Medicare Supplement Insurance plans help protect consumers in most states, including Louisiana. The statistics below illustrate the most popular Medigap plans selected by Louisiana residents. Insurance companies selling Medigap plans offer the same basic benefits, but those plans may come at different prices. Each insurer in Louisiana may not offer each of the available Medigap Supplement Insurance plans.
As reported by AHIP, 154,869 Louisiana beneficiaries enrolled in a Medigap policy in 2019. Below is the breakdown of the number of Louisiana enrollees by each 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 Louisiana 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 Louisiana Medicare Advantage plan, which typically covers prescriptions drugs and may also include other benefits, such as dental, vision, hearing coverage plus gym memberships.
Learn more about your Medicare Supplement Insurance plan options in Louisiana 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 Louisiana.
Louisiana residents cannot be enrolled in a Medicare Supplement (Medigap) Insurance plan and a Medicare Advantage plan at the same time. A Medigap plan can’t be used to pay for any expenses for a Medicare Advantage plan.
When is the Louisiana Medicare Supplement Plan Enrollment Period?
Initial enrollment timeframes are very important. Enrollment for Medicare Supplement Insurance plans in Louisiana 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.
Louisiana residents have a six-month period surrounding their individual birth date to buy a Medicare Supplement Insurance plan. In some special cases, Medicare purchases can be made beforehand. Louisiana 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. It can be beneficial to start making these important selections at age 64 and 6 months, as soon as you’re eligible. During this important six-month period, companies that offer Medicare Supplement Insurance plans cannot use underwriting during this time. In other words, during this timeframe your acceptance is guaranteed. However, if you apply for Medicare Supplement Insurance outside of this 6-month timeframe, Louisiana residents will be subject to a physical exam. If you apply for Medigap coverage after the first six months of eligibility, a company can refuse to sell you a plan or premiums may also adjust depending on current health status and pre-existing health conditions.
How Will I Know If a Louisiana Medicare Supplement Insurance Plan Right for Me?
An independent third-party company like SelectQuote can help you ensure you’re getting all the available Medicare benefits you deserve. Our licensed sales agents can help you navigate the Louisiana Medicare insurance options and they have the latest info on updates made annually by insurance companies to Medicare plans. Contact SelectQuote today to find the right Medicare Supplement Insurance plan to meet your 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.