Medigap Insurance in Gilbert, AZ
When Medicare itself isn’t covering enough of your healthcare costs, The Clemente Agency in Gilbert, AZ, will help you find the plan type correct for your needs and price range, taking the stress off of you! We are a trusted advisor in the Phoenix East Valley that will always have your needs in mind.
Plan Enrollment Requirements
Medicare – continue to pay your Part B premium
Medigap Policy - You must be enrolled in Parts A and B and be at least 65 years of age and if enrolling after 65, must not have certain pre-existing conditions.
Advantage Plan – You must be enrolled in Parts A and B.
Stand-Alone Prescription Drug Plan – You must be enrolled in Part A or Part B.
MEDIGAP PLANS (Medicare Supplement Plans)
Medigap insurance plans are standardized and must follow federal and state laws designed to protect you. Insurance companies can only sell you a standardized plan policy identified in most states by letters. Each individual company can choose which policies they wish to offer. Each company doesn’t offer every Medigap plan. The Clemente Agency will help you sift through these plans and understand how they supplement Medicare.
1. If you have a Medicare Advantage Plan, there are certain times you can switch to a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap insurance policy begins. Also, there is underwriting on Medigap policies to consider and The Clemente Agency will advise you on these underwriting situations and questions and ensure the change process is seamless.
2. You pay the private insurance company a monthly premium for your Medicare Supplement insurance policy besides the monthly Part B premium that you pay to Medicare.
3. A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you’ll each have to buy separate policies.
4. You can buy a Medicare Supplement insurance policy from any insurance company that’s licensed in your state to sell one.
5. All Medigap plans are standardized and are guaranteed renewable. This means the insurance company can’t cancel your Medicare Supplement insurance policy as long as you pay the premium.
6. Medigap insurance policies sold after January 1, 2006 are not allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
7. It’s important to compare Medigap policies because costs can vary. The benefits in any Medigap plans are standardized across all insurance companies, but can have some additional benefits such as a fitness or vision benefit/discount. Each plan is standardized across all insurance companies, but can have some additional benefits such as fitness or vision benefit/discount.
8. You can go to any doctor/provider in the United States that accepts Medicare!
The Benefits of Medicare Advantage Plans
Get your Part A and B Medicare coverage and also extra benefits beyond what Medicare offers with a Medicare Advantage Plan. Advantage Plans are very attractive to many people because of these features. Also, though you pay co-pays and co-insurance for services, there is a safety net that is called a “maximum out-of-pocket” amount that varies from plan to plan which is the annual maximum amount of accumulated co-pays, co-insurance and possibly deductible until the plan pays the remainder of approved costs for the rest of the year. Prescription drug coverage is usually bundled in at no extra premium cost. Note that you may be subject to a certain network if you join a Medicare Advantage Plan which may or may not be a problem depending on the doctors and other providers you need.
Prescription Drug Plans
If you have Medicare, you should at least have Prescription Drug Plan coverage even if you currently don’t take any prescription drugs.
Medicare will assess a monthly penalty if you don’t get a Prescription Drug plan when you were first eligible if you enroll in one later. This is a monthly penalty that remains for the duration of your Medicare Prescription Drug Plan or is added to a Medicare Advantage Plan with bundled prescription coverage that you may get in the future.
Contact The Clemente Agency today to have all of your Medicare supplemental insurance questions answered. Fill out the form below or call us today to schedule a free consultation with our talented and qualified licensed advisors.
YES, I would like to have a licensed insurance agent call or email me about Medicare Advantage Plans, Medicare Part D Prescription Drug Plans and/or Medicare Supplement Insurance.