10 Facts About Medicare Supplement Plans
- You cannot have a supplement plan unless you have Medicare Part A AND B
- There are 10 plans available
- You are allowed to use any doctor or hospital that accepts Medicare regardless of which plan or carrier you are enrolled with.
- Those who have Plan C (Medicare Advantage) can apply for a supplement policy. However, you have to leave the Medicare Advantage plan and return to Part A and B before the new policy begins.
- You will pay the private insurance company a premium each month for the policy as well as a premium for Part B that you pay directly to Medicare.
- Any supplement only covers 1 person. Everyone must have their own policies.
- You can only buy a policy from an insurance company within your state that is licensed to sell one.
- Your insurance company is not allowed to cancel a policy due to declining health conditions as long as you are still paying your premium each month.
- No new policies cover prescription drugs.
- If you have a Medicare Medical Savings Account (MSA), it is illegal for anyone to sell you a supplement policy.
If you have any questions regarding a Medicare Supplement Plan feel free to contact our licensed Medicare agents to help find the right coverage for you.