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Key Things to Know About Medicare Supplement Insurance Plans in Montana
For those looking to cover some of the “gaps” between what is and what is not covered by Medicare Parts A and B, there are Medicare Supplement plans in Montana. Medicare Supplement Insurance plans, also called Medigap, fill in the holes for out-of-pocket costs related to copayments, coinsurance and deductibles. Medicare Supplement Insurance plans are provided by private insurance companies throughout Montana.
Montana residents have 8 Medigap or Medicare Supplement Insurance plans from which to choose. These include basic benefits in 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 have been grandfathered into these plans.
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.
Montana residents looking for a Medicare Supplement Insurance plan need to first look at their specific coverage needs to determine what Medigap plan to consider.
What Are the Most Popular Medicare Supplement Insurance Plans in Montana?
The 8 government-approved Medicare Supplement Insurance plans protect residents in most states, including Montana. Throughout the state of Montana, the insurance companies that sell Medigap plans offer the same basic benefits, however the Medicare Supplement Insurance plans may cost different prices depending upon your location and the insurer. Each insurer in Montana may not offer each of the available Medigap plans.
See below for an overview of the most popular Medigap plans selected by Montana residents. As reported by AHIP, among those who selected a Medigap policy, the majority (69.1%) choose Plan F, 11.2% choose Plan G and 6% choose Plan N. Below is the breakdown of the number of Montana enrollees by Medigap plan type.
Source: AHIP. Reflects data through December 31, 2017.
Source: AHIP. Reflects data through December 31, 2017.
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 Montana 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 Medicare Advantage plan, which typically include prescription drug coverage and may also include other benefits, such as dental, vision, hearing and gym memberships.
Learn more about your Medicare Supplement Insurance plan options in Montana 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 might have throughout the process. SelectQuote individually shops more than 20 national insurance companies to help you compare Medicare plans in Montana.
Montana residents cannot be enrolled in a Medicare Supplement (Medigap) Insurance plan and a Medicare Advantage plan at the same time. A Medigap plan can also not be used to pay for any expenses for a Medicare Advantage plan.
Montana Medicare Supplement Plans Enrollment Periods
Initial enrollment timeframes are very important. Enrollment for Montana Medicare Supplement Insurance plans begins the first day of the month you turn 65 years old. You also must be enrolled in both Medicare Parts A and B in order to get a Medigap plan.
Montana residents have a six-month period surrounding their birth month to buy a Medicare Supplement Insurance plan. Residents of Montana who are 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. You might be surprised to hear that enrollment can begin as early as 64 and 6 months. During this important six-month period, companies that offer Medicare Supplement Insurance plans cannot use underwriting. If you apply for Medicare Supplement Insurance outside of this timeframe, Montana residents are 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.
Is a Montana Medicare Supplement Insurance Plan Right for You?
SelectQuote is an independent third-party company who specializes in helping consumers understand the ins and outs of Medicare. We are here to help you through the Medicare maze and want to ensure that you receive all the available benefits you deserve. SelectQuote licensed sales agents can also help you stay current with annual updates made to Medicare plans by insurance companies. As a trusted specialist in Medicare, SelectQuote is here to help you find the right Medicare Supplement 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.