The State Corporation Commission (SCC) oversees Medicare Supplemental Insurance, or “Medigap,” in Virginia. If you qualify for and have traditional Medicare coverage for Parts A and B, you need to contact a Medigap insurance carrier to secure supplemental coverage. To find providers and plans, fill out the zip code field and compare rates immediately.
You are required to have Parts A and B in order to apply for additional coverage. Part A is commonly referred to as “hospital insurance” and most people do not pay a premium for Part A since they have likely paid Medicare taxes when they were working.
Part B is commonly referred to as “medical insurance” and covers many inpatient and outpatient services. Premiums for Part B are set based on a person’s income.
Parts C and D are optional. Part C is Medicare Advantage and provides the benefits of Parts A and B via companies that contract with Medicare to provide this coverage. Some portions of prescription drug coverage may also be included.
Part D covers prescription drug coverage. Anyone who qualifies for Parts A and B, or C, qualifies for Part D regardless of income, health status, age, or any other factor. Premiums range depending on which drug plan is selected.
Virginians may have two options for Medigap coverage. Anyone who qualifies for Parts A and B can purchase additional Medigap coverage through private insurance carriers. However, some employers may offer Medigap coverage via a retiree health plan. Check with your prior employer(s) to see if this is an option because the premiums may be lower. All Medicare and Medigap plans offer the same coverage, regardless of the carrier, but premiums can vary drastically so it’s critical to shop around. Fill out the zip code form to compare plans and rates instantly.
Virginia offers all 10 Medigap Plans A – N including an additional “High Deductible F.” Discuss the details of these Medigap plans with a qualified insurance carrier. The amount of co-pays, deductibles, and co-insurance varies with each plan. Each plan covers sometimes drastically different services and fees. Plan A covers “basic core benefits” while the remaining plans cover basic benefits and additional benefits.
Another option for additional coverage is Medicare Select, which is different than Medigap. Applicants can still choose any of the 11 plans but are restricted to seeing doctors and visiting healthcare facilities in specific networks. This can save the insured person a lot of money due to the restricted networks. Lower premiums can make coverage much more affordable.
However, it’s important to consider if the available networks and doctors are acceptable for the applicant. If a person has Medicare Select and sees a doctor outside of the network Medicare will still pay its portion, but the Medicare Select company is not required to pay hospital deductibles or co-pays. If a person must see a specialist who is not in the network, this is probably not the best choice. Fill out the zip code form to view plans and compare rates immediately.
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