Kentucky Medicare Plans include Medicare supplements that pay after Medicare as well as Medicare Advantage plans. There are 10 standardized Medigap plans labeled Plan A – F – just like in every other state. Each plan covers a different set of benefits.
About 17% of residents in Kentucky are Medicare beneficiaries. These people have the same options as the rest of the nation, including Medicare supplements and Medicare Advantage plans. There are also standalone Part D drug plans. Over 120,000 beneficiaries have enrolled in some form of Medigap, and prices for these plans average around $150 – $200/month.
Kansas Medicare Supplements
Kentucky Medicare Supplement Plan F is a top seller in the state. This is likely because it is the Medicare supplement plan that offers the most coverage. A Plan F supplement will pay for all of your Medicare deductibles, co-pays and coinsurance. Normally you would usually be responsible for these things. Because your Kentucky Medicare supplement covers all this right from the start, many people refer to Plan F as “first dollar coverage.”
Plans G and N are also popular plans in Kansas. These plans have lower premiums but you agree to cover some copays and/or deductibles on the back end of the policy.
Kentucky Medicare Supplement Open Enrollment
When you turn 65 or obtain Part B, whichever is later, your Kentucky Medicare supplement open enrollment window will start. This one-time window lasts for six months. During this time, you can join a Medicare supplement with no health questions asked. Your application will be approved, and is guaranteed renewable as well, for as long as you pay your monthly premium.
If you miss this window, or once it has passed, then you will have to answer medical questions when you apply. The insurance company will underwrite your application. This means they will review your medical history and check prescriptions you have filled in recent years. They can decline based on your health history or prescriptions if they choose to do so.
Since Medicare supplements only fill in the gaps for Medicare Parts A and B, many people purchase a standalone Part D drug plan to go alongside their coverage.
You can enroll in a drug plan when first joining Medicare during your Initial Enrollment Period. This works alongside your Medicare supplement to provide you coverage for retail medications. You can change your drug plan once per year during the annual election period that comes around each year in the fall.
Some people may find the Medigap plans are expensive for them. If that’s the case, Medicare Advantage plans are another option.
Medicare Advantage Plans in Kentucky
Medicare Advantage plans are private plans that pay instead of Medicare. When you enroll, you will use the plan’s network of doctors and hospitals when you seek care. You’ll pay copays for doctor visits, lab work, hospital stay and other services as you go. Because of the network, it’s important to check with your doctors to see if they participate in the plan’s network before you enroll.
Medicare Advantage plans in Kentucky usually include Part D drug coverage. This coverage will provide retail medications to you. You will pay copays based on the drug’s tier, Each plan has its own drug formulary. You can check to see that your medications will be covered before you apply for a plan.
Advantage plans have only one health question. As long as you do not have End Stage Renal Disease, you can qualify for the coverage if you live in the plan’s service area. You must also enroll in Parts A and B before you apply for a Medicare Advantage plan.
All Medicare Advantage plans in Kentucky have a Maximum out of pocket limit to protect you. If your spending hits this limit in any given calendar year, the plan must then cover 100% of your Part A and B services thereafter.
Get Help with Kentucky Medicare Supplement Options
There are a number of affordable companies in Kentucky. We can provide quotes for these insurance companies. Let our friendly agents also help you with facts about each company. We can help you decide which one really is a good fit for your lifestyle. We can help with obtaining a Part D drug plan analysis, too.