Medicare Supplemental Insurance in Arizona, also known as Medigap, is a type of insurance that can help cover the costs of healthcare that are not covered by Medicare. If you live in Arizona and are considering Medigap coverage, here are 4 things you should know.
1. What is Medigap?
Medigap is a type of insurance that is designed to help cover the costs of healthcare that are not covered by Medicare. This can include things like deductibles, copayments, and coinsurance. Medigap policies are sold by private insurance companies and can be used in conjunction with Original Medicare.
2 .What Does Medigap Cover in Arizona?
In Arizona, Medigap policies are standardized, meaning that each policy must cover the same benefits. There are 10 standardized Medigap policies in Arizona, each designated by a letter (A, B, C, D, F, G, K, L, M, and N).
The benefits covered by each policy vary, but generally include coverage for things like:
• Medicare Part A coinsurance and hospital costs
• Medicare Part B coinsurance or copayments
• Blood (first 3 pints)
• Part A hospice care coinsurance or copayment
• Skilled nursing facility care coinsurance
• Part A deductible
• Part B deductible
• Part B excess charges
• Foreign travel emergency (up to plan limits)
3. How Much Does Medigap Cost in Arizona?
The cost of Medigap coverage in Arizona varies depending on a number of factors, including your age, gender, and health status. It is important to shop around and compare prices from different insurance companies to find the best coverage at the most affordable price.
4. When Can You Enroll in Medigap in Arizona?
The best time to enroll in Medigap in Arizona is during your Medigap Open Enrollment Period. This is a six-month period that starts on the first day of the month in which you are both 65 or older and enrolled in Medicare Part B. During this period, insurance companies cannot deny you coverage or charge you higher premiums based on your health status.
If you miss your Medigap Open Enrollment Period, you may still be able to enroll in Medigap coverage, but you may be subject to medical underwriting, which means that insurance companies can charge you higher premiums or deny you coverage based on your health status.
Medicare Supplemental Insurance Arizona can be a valuable asset for those who are enrolled in Medicare and want to cover the costs of healthcare that are not covered by Original Medicare. If you live in Arizona and are considering Medigap coverage, it is important to understand what is covered, how much it costs, and when you can enroll. By doing so, you can find the coverage that best meets your needs and budget.
