There are over 40 different companies offering Illinois Medicare plans. Traditional Medicare supplements are available to anyone new to Medicare as well as Medicare beneficiaries who are under 65 and on Medicare due to disability. Beneficiaries must be enrolled in both Medicare Part A and Part B in order to be eligible to enroll in an Illinois Medicare supplement.
If a Medigap plan is beyond your budget, there are a variety of Illinois Medicare Advantage plans to choose from as well. Here are some of the basics you should know:
Illinois Medicare Supplements
Medigap policies are designed to fill in the gaps in your Original Medicare coverage. By gaps, we mean the things that Medicare leaves for you to pay, such as your Part A hospital deductible and your coinsurance for both Part A and Part B.
These items can be quite expensive. For instance, you are responsible for 20% of the cost of your outpatient services under Medicare Part B. Since that includes big-ticket medical services like surgeries, it’s important to have supplemental coverage.
All Illinois Medicare supplements cover the 20% that of Part B that Medicare does not cover. You can also choose supplements with coverage for things like hospital deductibles, excess charges, and foreign travel emergency.
What many people enjoy most about Medicare supplement plans is that you will have comprehensive benefits and freedom of choice. You can see any doctor that accepts Medicare, and that includes more than 800,000 providers in the United States. This makes them ideal for travel. You can see providers in any state by just presenting your Medicare card.
Finding the best Medicare supplemental insurance in Illinois is a matter of shopping for the lowest prices and lowest rate increase trends. Our software can tell us which carriers in your area have had the lowest rate increases.
Illinois Medigap Plans for People under Age 65
In many states, people under age 65 who qualify for Medicare early because of a disability cannot buy the same Medicare supplement insurance as people age 65 and older can. However, in Illinois, the Medicare supplement open enrollment period is offered to people of all ages on Medicare.
As long as you apply for your Illinois Medicare supplement within six months of your Part B effective date, you can enroll in any Medicare supplement you want. There are ten choices labeled Plan A – Plan N, and one high-deductible Plan F option as well.
The best time to enroll in a Medigap plan is during your open enrollment window. Open enrollment is a period that occurs during the first six- months after your Part B eligibility date. During this time, you do not have to answer health questions as you apply for an Illinois Medigap plan.
The insurance company must accept you. If you have become eligible for Medicare due to a disability, this window is very important to you. Later on, you may not be able to pass medical underwriting to be approved.
Many people confuse the term “open enrollment period” with the annual election period that happens in the fall each year for Part D and Medicare Advantage plans. These are two entirely separate things. If you find that confusing, please call our office so an insurance expert can explain the differences to you.
Medicare Supplement Plan F
Plan F is the most comprehensive supplement available. It essentially covers all of the gaps in Original Medicare so that you have first-dollar coverage. When you seek treatment from Medicare-approved providers, you will incur no costs at all for any Medicare-covered services. You won’t even owe a doctor copay.
For this reason, Medicare Supplement Plan F in Illinois is a very popular choice for beneficiaries of all ages. Don’t forget to check out the rate savings on Plan G though. Sometimes you can save big on premiums by agreeing to just a little cost sharing. Also Plan F will not be available to anyone who gets Medicare after the start of 2020.
Illinois Medicare Advantage Plans
Not everyone can afford a Medicare supplement. Fortunately, the state of Illinois has a number of great Medicare Advantage plans too. If you like the idea of having your Medicare A, B, and D benefits packages in a sort of “all-in-one” insurance option, you might consider an Illinois Medicare Advantage plan. There are differences between plans, such as HMO and PPO networks, so be sure to work with an agent who can help you understand those differences.
Common Questions About Illinois Medicare:
These questions are some of the most common questions our team gets about Medicare Supplements in Illinois.
The best time to enroll in a Medicare Supplement plan in Illinois is during your Medicare Supplement Open Enrollment. This window starts on your Part B effective date and ends 6 months later. During this window, you don’t have to answer any health questions.
When trying to find the best Medicare Supplement for you, you want to find the most cost-effective plan with the lowest average rate increases and best financial rating. Here at Boomer Benefits we will compare 30+ carriers, find the top 3-5 most cost-effective premiums, and then compare the financial ratings and average rate increases of each carrier.
Medigap Plan A, B, C, D, F, G, K, L, M, and N are all available in the state of Illinois. However, people who become Medicare-eligible in 2020 or later do not have access to Medigap Plans C or F.
Illinois Medicare Plan Comparison
Need help with choosing the right coverage for your personal needs and budget? Our team of friendly licensed insurance agents can provide you instant quotes, as well as important information about the Medigap companies in your area, such as whether or not they have strong financial ratings.
Our software will compare each insurance company in your area on all three factors. You can request a free comparison report today or give us a call for rates over the phone.