Costs of Ohio Medicare supplement plans can be very different.
There are huge variations in premiums that insurance companies charge for the exact the same coverage. As you shop for your Medigap plan, be sure you are comparing apples to apples (the same Medicare supplement policy), for example, do your due diligence and compare Plan F from one company with Plan F from another company.
Medicare Plan F
I thought I would highlight this plan because it is the most popular among today’s beneficiary. Often considered the Cadillac of plans, as you can see from the chart below, Medigap Plan F covers all that Medicare does not.
Medicare supplement plan G
Often overlooked, these Medigap plans are beginning to gain momentum among savvy seniors.
Get Quotes to Compare
Other Ohio Medigap plans available in 2014 are A, B, C, D, High Deductible F, K, L, M and N. Every plan has different benefits that pay the costs that original Medicare doesn’t. Offered by private insurance companies, they are required to comply with both state & federal regulations. ‘Standardized’ makes these Ohio Medigap plans easier to compare. I’m going to rephrase what I said above because it is important: Ohio Plan G sold by Medical Mutual, must by law provide the same exact benefits as plan G offered by Cigna. As the same plan may be sold by several private insurance companies in Ohio, each provider is free to set its premium, it will be wise to get all Ohio company quotes before you enroll.
Though you can find 10 distinct plans involving different benefits and copayments, comparing Medicare supplemental health insurance isn’t as hard as it might look at first. In the event you don’t take the time to compare plan choices, you could get a plan that will not really fit your health needs, or perhaps overpay. If a medical service provider accepts Medicare they will also accept your Ohio Medigap insurance plan. Medicare will still pay first as it is your primary coverage, before your Medigap plan will pay its share.
In order to be eligible for a Medigap plan, you must have Medicare Part A and B. You may first apply during the so called ‘initial enrollment’ which is typically within 6 month of your initial enrollment. Insurance companies must accept you during this time, even when you have a pre-existing medical condition. If you enroll at a later time, an insurer does not have to accept your application unless you match the ‘underwriting’ requirements, which means you may have to go through health screening. There are, however, certain situations that give you a ‘guaranteed issue right‘.
This is the Ohio Medigap plan benefits chart for 2014 (Below: Source: Medicare.gov).