Illinois Medicare Supplement Plans
Illinois Medicare Supplement plans are offered to those who qualify to help fill the "gaps" of Medicare. These gaps are what Medicare does not cover and that you are financially responsible for.
Some of those gaps include:
- Medicare Part A deductible of $1100 (2010) - This means if you are admitted to the hospital, you are responsible for paying this amount. If you leave for 60 days or more and you're re-admitted, you must pay this deductible again. Therefore, it is not an annual deductible. Medicare Part A covers hospital expenses.
- Medicare Part B deductible of $155 (2010) - Unlike the Medicare Part A deductible, the Medicare Part B deductible is an annual deductible paid once per calendar year. Medicare Part B covers doctor's services.
- Medicare Part B 20% Coinsurance - With Medicare paying 80% of physician's services, you are responsible for the additional 20% of your medical expenses.
There are other gaps, however looking at these main gaps certainly shows how important it is to obtain a Medigap Policy in Illinois. There currently are 12 Standardized Plans available in the state of Illinois, lettered Plans A - N. Each plan offers a different combination of benefits, as well as different premiums. A Medigap Agent from Medisupps.com can easily explain the differences of each available to you, as well as show you premiums for each from the top companies.
As of June 1st. 2010, Plan letters E,H,I, and J have been eliminated by Medicare. Two new plans are now included, which are an Plan M, and an Plan N. These plans offer lower premiums, and have some cost sharing options to them. For instance, Medigap Plan M will offer a cost sharing of 50% on the Part A deductible, and Plan N will have co-pays for each visit.
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The easiest way to obtain an Illinois Medicare Supplement is if you are in the open enrollment period. Insurance companies in Illinois must sell you a Medigap policy regardless of pre-existing health claims, if you are at least 65 years old and apply within 6 months of enrolling in Medicare Part B. For instance, if you have waited to enroll in Medicare Part B due to having employer coverage, you will still have the 6 month open enrollment period from the day your Part B coverage begins.
If you are in Illinois and are under the age of 65 and qualify for disability benefits, you have the same right as seniors over 65 do in which your open enrollment period begins the day that your Medicare Part B coverage starts, and lasts 6 months. During open enrollment, a company must allow you to buy any of the supplement plans it offers.
Shopping for Medigap Policy
There are several different insurance companies in Illinios that offer Medicare Supplemental Insurance. These Medicare Supplements are called "standardized", meaning regardless of which company you choose, the coverage is identical within each plan letter. Therefore a Medicare Supplement Plan F from United of Omaha, is identical coverage to a Medigap Plan F from AARP, yet the premiums can vary dramatically between the two. Some important points to consider when shopping for a plan are:
- Prepare!
You may submit an application for a Medigap Policy up to 6 months prior to your start date in most cases, and you certainly want to take advantage of any open enrollment or guaranteed issue period. In many cases applying early will also "lock-in" your rate in case there are any rate increase prior to your start date.
- Shop Around!
Have a Medicare Supplement Advisor explain the differences in coverage to you helping you understand the entire process of Medicare and Medigap Plans.
For absolutely free, a Medisupps.com Medigap Agent will take as much time as needed to help you understand your coverage, and shop the market year-after-year to make sure you're always in the lowest rate that you qualify for.
So whether you're needing a Medicare Supplement in Freeport or Chicago, or from Springfield to Marion, a Medigap Agent from Medisupps.com can help you find the best coverage for the lowest premium. We'll take as much time as you need to completely understand all the plans and coverage available to you, determine your eligibility, and make sure you get the lowest premium year-after-year.
Call (888) 891-0229 to speak to a Medicare Supplement Advisor about an Illinois Medicare Supplement today.
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