Medicare Supplement Plans in Connecticut
More than 400,000 residents had Original Medicare in 2017. The number was higher than the number recorded two years before. Here are other facts regarding residents who enrolled in a Medicare Supplement plan in Connecticut in 2015.
The majority of beneficiaries opted for Plan F, making it the most popular plan, followed by Plan N.
Over 150,000 residents in CT were covered by a Medigap plan.
32.9 percent of those who enrolled in Medicare had Medigap coverage
In Connecticut, the largest counties are the following:
- Fairfield with more than 900,000 residents
- Hartford has over 800,000 residents
- New Haven recorded 856,875 people living in the county
- Litchfield had 182,571 recorded residents
Medicare Supplement Plans in Connecticut
Medicare designed 10 standard Medicare Supplement plans, from letters A through N. The most basic coverage is Plan A. The remaining plans have extra benefits. But the most comprehensive plan is Plan F.
Each plan letter has the same benefits no matter where you purchase the plan from. For instance, if you analyze Plan G, all Plan G from insurance carriers will have the same basic coverage. They only differ in the extra benefits that the insurer will provide.
The insurance companies are not required to offer all 10 plans. Insurers have a way to determine what plans to offer based on the popularity of the policies among their beneficiaries. But most insurance companies in Connecticut are offering Plans F, G, and N.
How Insurance Companies Price Their Medicare Supplement Plans
Insurance companies are free to price the plans they offer. However, Medicare requires them to offer basic coverage as designed by the organization.
There are three ways that insurers utilize to rate their plans.
Age-Attained Method
Here, premiums are priced based on the beneficiary age. Thus, the monthly premium will increase as you age.
Community
All Medicare Supplement plans beneficiaries in Connecticut will pay the same rate for the same plan.
Issue-Age
The monthly premium will be based on how old you were when you bought the Medigap policy. The rate will not increase because of your age. However, it may increase as a result of some factors, like inflation.
Medigap plans in Connecticut are accessible through a guaranteed issue basis. The rates are not according to gender, health condition or age.
Can a Medicare Supplement Plan Include Prescription Drug
Unfortunately, Medicare recipients who are taking a lot of medicines cannot rely on Medicare Supplement plans in Connecticut to handle the overall cost of their medicines. The reason for this is that the state’s MS plans do not have drug coverage.
However, when you purchase Original Medicare and opt for a Medigap policy, you can also purchase a standalone Part D Medicare prescription drug policy. It can take care of your prescription drug costs. But the amount shared by your plan will depend on the drug you are using. Your insurer utilizes certain tiers to determine who much coverage you will get from a particular group of drugs. Thus, make sure to choose the right plan and opt for a program that covers the medicines you are taking.
What If I Move to Another State
Medicare standardized Medicare Supplement plans. And this is true in all 47 states, including Connecticut. Thus, you can retain your Medigap plan if you transfer to another state. However, your monthly premium may change. When you do move to a new state, you need to inform your insurance provider about your new address. You will be given a new monthly premium according to your new zip code.
The new rate can be higher or lower than the rate you used to pay while staying in Connecticut. If you are not sure how much premium you will pay, you may use our drop-down rate tool to compare the cost of your existing Medicare Supplement in Connecticut to the cost where you will be relocated.
When to Enroll for Medicare Supplement Plans in Connecticut
Not all individuals can obtain Medicare Supplement plans. To qualify to enroll for a Medicare Supplement plan in Connecticut, you need to be a resident of CT. But it is not enough. You also need to have an active Medicare Part A and Part B.
There is no open enrollment period requirement in CT. The reason for this is that the state has a guaranteed issue policy for all MS plans. In that case, seniors can enroll in a Medigap plan at any time they wish. Furthermore, they can modify their policies at any time.
However, there is a catch in not having an open enrollment period. The state implements pre-existing condition limitations. Depending on the insurance company, your pre-existing condition might not be covered for a maximum of six months. It happens if there is a lapse in coverage. Furthermore, if you did not have creditable before coverage, your pre-existing condition might not be covered.
What are the creditable coverage items? There are plenty of them. They would include Medicaid, public health plan, Medicare Advantage or Medicare Supplement insurance, group health plan, TRICARE, and other health coverage, among others.
Where to Utilize Medicare Supplement Plan from Connecticut
Medicare Supplement Plan or Medigap does not work like Medicare Advantage, where you are restricted to a network. With a Medigap plan, you can use it anywhere in the country. However, you can only use it if your doctor or healthcare provider honors Medicare. If not, any treatment you receive from the provider will not be covered. Fortunately, most doctors and hospitals in the US are Medicare accredited. It means that there is no shortage of healthcare facilities accepting your plan.
With so many Medicare Supplement Plans in Connecticut, it can be confusing to find the right plan that is perfect for your situation. If you are not sure what plan to pick, you may use our free online tool to help you out. It is free to use so there is no obligation on your part. You can request as many quotes as you want to help you compare the plan you wish to obtain. If you have further questions, feel free to contact our health insurance experts to assist you.
