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Medicare Supplement Plans in Maryland
What is a Medicare Supplement plan?
In Maryland, a Medicare Supplement plan, also referred to as Medigap, can be used in combination with Original Medicare to cover costs not currently covered. These costs might include coinsurance, deductibles, and copayments for Part A, Part B, or a combination of the two. In addition, some Medigap plans might offer coverage for extended hospital stays, nursing care, blood, or medical services rendered outside the U.S.
There are 10 different types of Medigap plans available, all categorized by a different letter of the alphabet. Plans that fall into a single category will offer identical coverage, whether they are Medicare Supplement plans in Maryland, or plans from most other states. However, the cost of a plan can vary from state to state, or even from county to county.
Enrolling in a Medicare Supplement plan in Maryland
Beneficiaries are eligible to enroll in a Medicare Supplement plan in Maryland if they are already enrolled in Part A and Part B. The best time to purchase a Medigap policy is during the Open Enrollment Period (OEP), which extends for six full months, beginning the month the beneficiary turns 65. During this period, companies are restricted from performing medical underwriting before offering a policy.
This restriction means that all beneficiaries are eligible for a Medicare Supplement plan in Maryland, regardless of previous health history and current health status. Once a beneficiary is enrolled in a Medigap plan, renewal is guaranteed each year as well, provided that the beneficiary continues to make monthly premium payments. However, beneficiaries enrolling in a Medigap plan after OEP may have to pay more for coverage or may even be denied coverage completely based on medical status.
Choosing a Medicare Supplement plan in Maryland
Coverage does not vary within a specific category of Medicare Supplement plans in Maryland. Every Medigap Plan F or Medigap Plan C will offer identical benefits, regardless of the company selling the policy or the area in which the plan is sold. However, those factors may influence the overall cost of the plan, which can vary.
Beneficiaries interested in a Medicare Supplement plan in Maryland should first select the plan category that meets their needs best. Once they have selected the plan type, they can then shop for the best rate on a plan in their area.
Medicare Supplement plan trends in Maryland
- There were 827,426 Medicare beneficiaries living in Maryland during 2012
- Of that total, 14% qualified for Medicare benefits prior to age 65, based on a disability
- Beneficiaries in this category in Maine are eligible to purchase from a limited selection of Medigap plans
- There were around 27 companies offering Medicare Supplement plans in Maine during 2013
- The average monthly premium for Medigap Plan F was $209
Data provided by the Maryland Insurance Administration Data provided by the Henry J. Kaiser Family Foundation