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Medicare Supplement Plans in Wyoming
What is a Medicare Supplement plan?
There were 84,076 Medicare beneficiaries living in Wyoming in 2012. These beneficiaries got many of their healthcare benefits through Original Medicare (Part A and Part B). However, Part A and Part B do not cover all of the costs associated with medical services and hospitalization today. Wyoming beneficiaries relying on Original Medicare for all of their healthcare coverage may find themselves paying significant out-of-pocket expenses before the year is over.
Medicare Supplement plans in Wyoming help to cover some of those costs not included in Original Medicare coverage. These plans are offered by private insurance companies that charge monthly premiums for the coverage options. They are designed to work in combination with Part A and Part B to cover expenses like deductibles, premiums and other out-of-pocket costs. Medicare Supplement plans, also referred to as Medigap plans, do not cover medications, but beneficiaries have the option in enrolling in a Medicare Part D plan to receive this coverage.
Medicare Supplement Plan Choices in Wyoming
During 2013, approximately 32 companies offered some type of Medicare Supplement plans in Wyoming. Supplement plans are categorized into 10 distinct types, each designated with a different letter of the alphabet. The plans are standardized by Medicare, so a Plan C offered in Wyoming will provide the same coverage as a Plan C in Ohio or Florida.
While the coverage for each plan type may be the same, costs of the different Medicare Supplement plans in Wyoming can vary dramatically. The cost of a plan is based on a number of variables, including the amount of coverage included, the company providing the plan and the location where the plan is offered. Premiums may also be based on variables like the beneficiary's age and gender, and whether the beneficiary is a smoker.
Selecting Medicare Supplement Plans in Wyoming
When shopping for a Medicare Supplement plan in Wyoming it is helpful to familiarize yourself with the different plan types available in the state. Once you have an idea of the plan type that will work for you, collect quotes from a number of different companies to see which one offers the best value and coverage. Keep in mind that a plan with a low monthly premium could include high out-of-pocket expenses throughout the year. Calculate how much you expect to spend in health care over the course of the year before determining which plan will provide you with the best possible value.
Data provided by Kaiser Family Foundation and the Wyoming Department of Insurance
Medicare has neither reviewed nor endorsed this information.