Medicare Supplement Plans

What is a Medicare Supplement Plan?

A Medicare Supplement Plan, also known as “Medigap,” helps cover out-of-pocket expenses not paid by Original Medicare (Parts A and B), such as copayments, coinsurance, and deductibles. These plans provide additional financial protection by filling the gaps in your Medicare coverage.

Medicare Supplement Plans are standardized under federal law, meaning the core benefits of each plan are the same no matter which insurance company you choose. This makes it easy to compare options and find the plan that best fits your needs.

Why Medicare Supplement Insurance?

Having Medicare Supplement Insurance alongside Original Medicare can help protect you from unexpected medical expenses, ensuring you receive the care you need with greater peace of mind.

Guaranteed Issue means you cannot be denied coverage due to a pre-existing condition. Your plan is guaranteed renewable as long as you continue paying your premiums and do not make any misrepresentations on your application.

SmartMatch licensed insurance agents work with you to find coverage that meets your needs at a price that fits your budget. In most cases, the primary difference between plans is the cost, allowing you to focus on securing the best value without worrying about changes in coverage.

Benefits of Supplemental Health Insurance with Assurance Life Group:

Guaranteed Coverage Every Year
As long as you maintain your premium payments, your coverage will automatically renew each year and cannot be canceled—except in specific cases such as providing false information on your application.

Straightforward Plan Options
Our supplemental health insurance plans are designed to be simple and easy to understand. With standardized options, comparing and choosing the right plan is quick and hassle-free.

Access to a Nationwide Network
With Assurance Life Group, you can visit any doctor or specialist who accepts Medicare patients. Medical providers who accept Medicare must also accept all supplemental health insurance plans, regardless of the insurance provider.

Plan Options and Comparison Chart

There are 10 standard Medicare Supplement Insurance Plan types available in most states, each with an assigned letter from A to N (Plans F and C are only available to those who were eligible for Medicare prior to Jan. 1, 2020).

Benefits of Supplemental Health Insurance with Assurance Life Group:

Guaranteed Coverage Every Year
As long as you maintain your premium payments, your coverage will automatically renew each year and cannot be canceled—except in specific cases such as providing false information on your application.

Straightforward Plan Options
Our supplemental health insurance plans are designed to be simple and easy to understand. With standardized options, comparing and choosing the right plan is quick and hassle-free.

Access to a Nationwide Network
With Assurance Life Group, you can visit any doctor or specialist who accepts Medicare patients. Medical providers who accept Medicare must also accept all supplemental health insurance plans, regardless of the insurance provider.

Standardized Basic Benefits

All Medicare Supplement Insurance Plans must offer the same standardized basic benefits, no matter which insurance company provides them.While Medicare Supplement Insurance Plans typically do not cover dental, vision, hearing, long-term care, or prescription drugs, they are required to cover at least a portion of the following:

• Medicare Part A coinsurance costs for up to a year after Medicare benefits are exhausted
• Medicare Part A hospice care coinsurance or copayments
• Medicare Part B coinsurance or copayments

When to Enroll in a Medicare Supplement Insurance Plan

You can enroll in a Medicare Supplement policy only after enrolling in Original Medicare (Parts A and B). The best time to enroll is during your Medicare Supplement Insurance Open Enrollment Period, which begins once you have Medicare Part B and lasts for six months. During this period, you have guaranteed issue rights, meaning you cannot be denied coverage due to health conditions.

Guaranteed Issue Rights

Policy outside your Open Enrollment Period. In these specific situations, insurance companies must offer you any Medigap policy they sell, cover your pre-existing conditions, and cannot deny coverage based on your health history—whether past or present.These rights typically apply if you lose coverage due to circumstances beyond your control or if you are using a trial right. Various situations may qualify you for guaranteed issue rights, and some states provide additional special circumstances.

If you believe you may be eligible, it’s important to speak with a licensed insurance agent. Your Assurance Life Group licensed agent will guide you through the details of your Medicare Supplement Insurance Plan, ensuring you fully understand the costs and benefits before you enroll.