What Do I Need to Know About Medicare Supplement Insurance Plans in Oregon?
Portland, also known as The City of Roses, is an example of what many consider to be excellent urban planning. The importance of planning also applies to successfully navigating the Medicare maze. Medicare Parts A and B provide insurance for hospital and doctor visits, but there are “gaps” in coverage, such as copayments, coinsurance and deductibles. One solution to help cover these out-of-pocket costs is an Oregon Medicare Supplement Insurance plan. Also known as Medigap, Medicare Supplement Insurance plans are available from private insurance companies throughout Oregon.
In 2022, residents of Oregon have many 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 have been grandfathered into their plan.
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.
Most Popular Medicare Supplement Insurance Plans in Oregon
The government-approved Medicare Supplement Insurance plans help protect consumers in most states, including Oregon. The statistics below provide a view of the most popular Medigap plans selected by Oregon residents. Insurance companies selling Medigap plans offer the same basic benefits, but those plans may come at different prices depending upon the carrier as your location. Each insurer in Oregon may not offer each of the available Medigap plans.
As reported by AHIP, 190,311 Oregon beneficiaries enrolled in a Medigap policy in 2019. Below is the breakdown of the number of Oregon 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 Oregon Medicare Supplement Insurance plan does not include prescription drug coverage. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs or you may want to consider an Oregon Medicare Advantage plan, which typically includes 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 Oregon 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 plan in Oregon.
Oregon 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 Can I Enroll in a Medicare Supplement Insurance Plan in Oregon?
Initial enrollment timeframes are very important. Enrollment for Medicare Supplement Insurance plans in Oregon 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 enroll in a Medigap plan.
Oregon 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. Oregon 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 decisions 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. In other words, during this timeframe your acceptance is guaranteed. However, if you apply for Medicare Supplement Insurance outside of this 6-month timeframe, you 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.
Is an Oregon Medicare Supplement Insurance Plan Right for Me?
Consulting with an independent company like SelectQuote is a great way to ensure you’re getting all the available Medicare benefits you deserve. The licensed sales agent at SelectQuote can help you understand your Medicare insurance options and they have the latest info regarding any of the annual updates made by insurance companies. Contact SelectQuote 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.