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What Do You Need to Know About Medicare Supplement Insurance Plans in South Carolina?
For residents of South Carolina who are about to celebrate their 65th birthday, it’s time to look into the available Medicare options, including a Medicare Supplement Insurance plan. Also known as Medigap, a South Carolina Medicare Supplement Insurance plan can fill in some of the “gaps” that Medicare Parts A and B do not cover, such as coinsurance, deductibles and copayments. A Medicare Supplement Insurance plan is easy to find as they are available from private insurance companies throughout South Carolina.
South Carolina residents have 8 Medigap or Medicare Supplement 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 their plan.
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 a Medigap Plan C or F as of December 31, 2019, will be grandfathered and will be able to continue to use their plan if they want.
South Carolina residents looking for a Medicare Supplement Insurance plan need to first look at their specific coverage needs to determine what Medigap plans they should consider.
Most Popular Medicare Supplement Insurance Plans in South Carolina
The statistics below illustrate the most popular Medigap Supplement plans chosen by South Carolina residents. Insurance companies that offer the 8 government-approved Medicare Supplement Insurance plans offer the same basic benefits, but those plans may come at different prices based on your place of residence and insurance carrier. Each insurer may not offer each of the available Medigap plans.
As reported by AHIP, among those who selected a Medigap plan, the majority (58.6%) choose Plan F, 18.1% select Plan G while 9% are enrolled in Plan N. Below is the breakdown of the number of South Carolina 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 a South Carolina Medicare Supplement Insurance plan does not include prescription drug coverage. However, you can buy an additional Medicare Prescription Drug plan to help with prescription drug costs. Before finalizing your elections, you may also want to consider a South Carolina Medicare Advantage plan, which generally includes coverage for prescriptions drugs and may also include benefits, such as dental, vision, hearing and gym memberships.
To learn more about your Medicare Supplement Insurance plan options in South Carolina, you can work 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 South Carolina.
South Carolina residents cannot be enrolled in a Medicare Supplement (Medigap) Insurance plan and a Medicare Advantage Insurance plan at the same time. A Medigap plan cannot be used for payment of any expenses for a Medicare Advantage plan.
South Carolina Medicare Supplement Plan Enrollment Period
Initial enrollment timeframes are very important. Enrollment for Medicare Supplement Insurance plans in South Carolina begins the first day of the month you turn 65 years old. In some special cases, enrollment could happen prior to this time. You also must be enrolled in both Medicare Parts A and B in order to get a Medicare Supplement Insurance plan.
South Carolina residents have a six-month window surrounding their birth month to buy a Medicare Supplement Insurance plan. South Carolina 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. At the age of 64 and 6 months, you can begin to make important Medicare choices, so you will want to enroll 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 window of time 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 a South Carolina Medicare Supplement Insurance Plan Right for You?
SelectQuote is an independent third-party company which specializes in helping consumers understand their Medicare options and we are ready to assist you in finding the right Medicare Supplement Insurance plan. We’ll make sure you receive all of the available Medicare benefits you deserve. Our licensed sales agents can also inform you about the annual updates that insurance companies make to Medicare plans. As a trusted Medicare specialist, SelectQuote will help you find the right South Carolina Medicare Supplement Insurance plan to meet your needs and budget.
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.