Missouri Medicare Supplements (Medigap) are available to all Medicare beneficiaries during their Medigap open enrollment window. This period begins on the same day that your Medicare Part B is effective and lasts for 6 months. Medicare’s booklet on choosing a Medigap policy explains that this window is the best time to enroll in Missouri Medicare plans.
During this time, no Medigap insurance company can decline you for coverage for any health reasons. This applies to people over age 65 and also to people under 65 on Medicare disability.
After your open enrollment window has passed, you can still apply for a Missouri Medicare Supplement, but you will be subject to health underwriting. This means carriers at that point can decline you for certain health conditions. This is why applying during your open enrollment window is often considered the best time to enroll.
Missouri Medicare Supplement Rates
Medicare Supplements have been formatted by the federal government into 10 basic plans. Each plan is assigned a letter from A – N. Our software helps you compare Missouri Medicare plans on price, financial rating, and rate increase trends
You can buy a Missouri Medicare Supplement Plan G from any insurance company, and you will know that the benefits for that plan will be the same at other companies. This allows you to shop based on price and several other important factors.
We use our comparison software to run a report of all the companies offering Missouri Medicare supplements in your county. We’ll look at not just prices, but also the rate increase histories of each company. This helps to choose a Missouri Medicare plan that has good rates now, and one that we hope, based on their history, will have low rate increases from year to year.
Missouri Medicare Supplements – Anniversary Rule
Missouri also has a unique rule called Missouri Medicare Supplement Anniversary Guaranteed Issue Rule. Once a year, on the original issue date of your current standardized Medigap policy, you can switch from your plan to another plan like yours with no underwriting. For example, you can move from a Plan G to a Plan G or a Plan N to a Plan N, but not from a Plan N to a Plan G.
The new insurance company must sell you the policy regardless of any pre-existing conditions. This allows you to shop your policy annually and compare premiums. Moving to a new plan is easy. Your window to make this change begins 30 days before the issue date of your current Medigap policy. It lasts until 30 days after the issue date.
Taking advantage of the anniversary rule helps you to keep more of your money in your own pocket every year.
Missouri Medicare Advantage Plans
If Medigap is out of the question whether because of budget or preexisting conditions, consider a Medicare Advantage plan. Medicare Advantage is also known as Part C and is individual plans sold by private insurance carriers. When you elect to receive coverage through a Part C plan, then you will receive coverage from the carrier, not Medicare itself.
You also agree to abide by the plan’s rules and network. A network is one thing that Original Medicare and Medigap plans don’t have. With a network, you can only see the doctors who are in-network with your plan or else you will pay a higher price or 100% of the total.
However, Medicare Advantage plans usually have benefits that Medicare doesn’t offer. Benefits such as drug, dental, vision, gym, and more are offered in several Medicare Advantage plans. Since most Medicare Advantage plans include drug coverage, you won’t need a separate Part D plan like you would with a Medigap plan.
Common Questions About Missouri:
We get these questions about Medicare Supplements most often from our Missouri clients.
During your Medigap Anniversary, you have 60 days (30 days before and 30 days after the anniversary date) to change Medigap carriers without having to answer health questions. You can only switch to a plan with equal benefits (Plan G to Plan G). If you want to change plans (Plan G to Plan N) then you will likely have to answer health questions.
Yes. You can apply to change Medigap plans at anytime during the year. However, unless you are in your Open Enrollment window or using the anniversary rule, you will likely have to answer health questions.
You should find the most cost-effective Medigap plan for you. Compare Medigap plans and their carriers based on their rates, financial ratings and average rate increases.
One-Stop Shopping for Missouri Medigap Plans
Boomer Benefits is licensed in Missouri as well as many other states. Our agency can run quotes for over 25 insurance carriers in your area and find the top 3 to 5 plans that are the most cost-effective. In addition to prices, we can tell you the financial ratings of these companies as well as their history of rate increases.
If you are applying for a supplement during your Medicare supplement open enrollment window, and you know that later on, it will be difficult to change carriers because you have a health condition that may cause you to not pass underwriting, then you will want to choose a carrier upfront that has a stable, steady history of low rate increases.
Our knowledge of the rate trends and financial health of various insurance company will help you make the right decision for your coverage. Some beneficiaries may want to consider Missouri Medicare Advantage plans too, and we do work with those plans.
For quick quotes and information from the friendliest agents you will ever meet, call our toll-free number: 1-855-732-9055. You can also use the link below to request quotes via email: