Medicare Supplement plans in Iowa help to fill in the gaps in Original Medicare. They are a terrific way for you to buy peace of mind for your health insurance. Many people enjoy the freedom of access because you can see any doctor that accepts Medicare.
Iowa Medicare Supplement Plans
An Iowa Medicare supplement pays for many of the things that Original Medicare does not, such as your hospital and outpatient deductibles. Iowa Medicare Supplement plans can also cover the 20% outpatient coinsurance that Medicare does not pay for you. This kind of coverage lets you focus on getting well.
Medicare Supplement plans in Iowa are also commonly called Iowa Medigap plans. You must be enrolled in both Medicare Part A and B to be eligible. In the state of Iowa, there are 10 standard Medicare supplements to choose from, plus one high-deductible option.
However, as of 2020, there will only be 8 Medigap plans plus one new high-deductible option. This is because Medigap Plan F, Plan C, and High-Deductible Plan F are being discontinued, and will no longer be available to new Medicare enrollees after January 1, 2020.
Each standardized plan has a letter, and they range from Plan A – Plan N. A Medigap plan has the same coverage no matter which carrier you enroll through. For example, a Plan G from carrier X has the same coverage as Plan G from carrier Y. This allows consumers like you too easily compare prices between insurance companies without worrying about any loss of benefits when switching.
Medigap Plan F is currently the most comprehensive plan in Iowa. However, after 2020, Plan G will be the most comprehensive. Medigap Plan G covers everything that Plan F covers except the Part B annual deductible. This means you will not have any copays for doctor visits, surgeries, lab-work, or hospital stays.
Best Time to Enroll in Medigap
If you are new to Medicare, you can enroll in any Iowa Medigap plan during your initial open enrollment window. There are no health questions or pre-existing condition exclusions when you apply during this time. Be aware that this window only lasts for 6 months after your Part B effective date.
Iowa Medigap plans are designed to give you maximum coverage for the costs that Medicare expects you to shoulder. These Medicare supplement policies provide seamless electronic billing as well. Your provider will bill Medicare, and then Medicare will bill your Iowa Medicare Supplement, which means no claims paperwork for you to worry about.
Medicare Under 65 in Iowa
Iowa does not require Medicare supplement companies to offer Medigap plans to people under 65. Most insurance companies don’t, so Medicare Advantage plans are a good fit for people under 65.
Medicare Advantage Plans in Iowa
Many insurance companies are offering Medicare Advantage plans in Iowa. When you enroll in a Medicare Advantage plan, you will get your care from the plan’s network of providers. These private plans will pay instead of Medicare. However, they cover all the same Medicare Part A and B services, plus extra benefits usually.
Premiums are generally lower than Medigap, but you will have copays on the back end. You might spend $10 for a primary care doctor visit or $50 for a specialist. A hospital stay might cost a flat $250 or a certain amount per day. The cost of services varies based on the specific plan that you choose.
Many Medicare Advantage plans in Iowa include a Part D drug plan already built-in. This means you will present the same insurance card at the doctor and at the pharmacy. Some Medicare Advantage plans in Iowa also include extras like vision exams or gym memberships.
Not all doctors participate in these plans, so check with yours to see if they participate in the plan you want.
Common Questions About Iowa Medicare:
These are some of the most common questions we get about Medicare Supplements in Iowa.
No. No Medicare Supplement plan covers prescription drugs (unless the drug is covered under Part B). For prescription drug coverage, you’ll need to purchase a stand-alone Part D plan.
Technically, no. However, if you don’t enroll in a Part D plan at 65 without having creditable drug coverage, you will be penalized. Part D late penalties are for life too.
Most Medicare Advantage plans have a Part D plan built in. Therefore, if you have a Medicare Advantage plan, you likely won’t need a stand-alone Part D plan.
Compare Medicare Supplements in Iowa
Shopping for a Medicare supplement has never been easier. Our instant quote engine at Boomer Benefits compares multiple carriers in your area to find the lowest rate. Our agency can also advise you on which insurance carriers have the longest history of low rate increases and great financial ratings. You can choose the best Iowa Medicare plan for your needs and budget.
To learn more about your options, call our toll-free number at the top of this page. You can also contact us here online to request your free Medigap quotes. Here’s the link to our online contact form to get in touch with us about Medicare Supplement plans for Iowa.