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Kentucky Medicare Supplement Insurance

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Kentucky Medicare Insurance Plans

Compare Medicare Supplement in KentuckyWe offer Medicare supplement insurance in Kentucky direct to you – at no additional cost. We are licensed with dozens of insurance companies so you can quickly compare the best rates online.

We’ll help you understand which Medigap plans offer the best overall value. With us, enrollment is quick and easy – and you’ll know you’re getting the lowest rates available.

Our brokerage represents several carriers, including: Aetna, Assured Life, Anthem, Cigna, Bankers Fidelity, Central States Indemnity, Equitable, Humana, Liberty Bankers, Medico, Mutual of Omaha, Sentinel, Shenandoah Life, Southern Guaranty, Thrivent, United American, United Healthcare AARP, Western United Life and many others.

Which Medicare Supplements Offer More Value?

There are ten different Medicare supplements to choose from in Kentucky, but there are three plans that are most often purchased.  Those are Plans F, G & N.

1) The Case for Plan F:

Plan F is the most comprehensive of all Medicare supplements offered. It is also the most expensive. This policy fills in all of the gaps in government run Original Medicare (Parts A & B). In other words, if you have a Medicare approved health care expense, Plan F will fill in all of your gaps and you’ll have nothing more to pay. Many people like the convenience of Plan F as there are no additional bills to worry about. It should be noted, however, that Plan F will no longer be offered to those who are new to Medicare beginning in 2020.

2) The Case for Plan G:

With Plan F coming off the market in 2020, we are seeing a lot more interest in Plan G. And rightfully so. Typically when a Medigap plan leaves the market (even partially) the rates tend to rise more quickly. Plan G will continue to be for sale to everyone. The only gap that Plan G does not cover is the Part B deductible. In 2019, that amount is only $185. This is a one-time, yearly deductible. In many cases, Plan G will be about $25 less per month than Plan F. Why pay $25 a month to cover a $185 deductible? There’s no good reason. Thus, Plan G can be a smart choice.

3) The Case for Plan N:

Our clients like Plan N because it offers some of the lowest rates available of the three most comprehensive Medicare supplement plans in Kentucky. Maybe you’d rather spend your hard earned dollars on good bourbon than Medicare insurance. Plan N can be found for under $100 a month in many cases and it covers the major gaps in Medicare. Plan N is much like Plan G (neither cover the Part B deductible), but Plan N also has office copays.

You pay a maximum of $20 for any type of office visit (both primary and specialist) and $50 at the emergency room. You may also face Part B Excess charges with Plan N, but those are very rare. If your doctor does not accept Medicare assignment (and you’re facing Part B Excess charges), then you may consider finding a new doc. Plan N is popular as it fills in all the major gaps while still offering affordable premiums.

It’s wise to use an independent agency like ours to comparison shop. We offer the same rates as if you called each company directly. We also offer insight into who has the most premium stability over time while also administering your insurance hassle free.

Prescription Part D Drug Coverage

Part D Drug Plans in KYMedicare does cover most prescriptions purchased at your local pharmacy. So if you choose to enroll in a Medicare supplement policy, then you will likely want to purchase a Part D drug plan as well. We help our clients find and enroll in the policies that offers them the most overall savings on their regular prescriptions.

Part D drug plans are offered from private insurance companies and usually cost around $15-$20 a month in Kentucky. You may still have copays for your Rx’s, but they will be much less than if you had no insurance at all.

And even if you don’t take any prescriptions, it can still be wise to purchase a Part D plan. Why? Because Medicare will administer a Late Enrollment Penalty if/when you do enroll in the future. This penalty will last for a lifetime so, in most cases, it ends up costing you more than if you’d just bought a plan when you were first eligible – say at age 65.

What About Medicare Advantage Plans?

Many of our Kentucky clients choose Advantage plans over traditional Medicare supplements. There are several reasons for this, but first it’s important to understand the differences between the two.

Medicare Advantage (Part C) plans are private insurance policies offered from large insurance companies like Humana, Aetna, United Healthcare AARP and others. These are all-in-one policies that combine your Medicare Parts A, B and D into one policy. Most of these plans are either HMOs or PPOs. For them to work best for you, you’ll need to make sure you’re using the doctors and hospitals that are in your plan’s network. If you go out of network for care, then you will usually be on the hook for a larger percentage of the cost – or in some cases – you’ll be responsible for the entire amount!

However, our clients prefer Part C Medicare Advantage plans because they cost much less than most Medicare supplements. In fact, some can be as low as $0 a month. And many include prescription Part D drug coverage as well. You will have more out of pocket exposure (usually around $3,400-$10,000), but the low premiums are attractive. If you’re on a tight budget and your preferred doctors and hospitals are in network, then an Advantage plan can be a good choice.

Medicare Insurance Plans For Those Under Age 65

If you qualify for Medicare due to disability before age 65, you have choices. You’ll have a normal Open Enrollment window as would someone who was just turning age 65. It’s VERY important to explore all of your options as this time.

During this window, you can enroll in a Supplement, Advantage and/or Part D drug plan. You don’t need all three – so be sure to talk with a professional agent to make sure you understand how each works. You’ll also want to understand that by choosing one now, you may not be able to easily change to a different plan later. When you are under age 65, Medicare supplements will be more expensive, but Advantage and Part D drug plans will cost the same as if you were 65 or above.

Once your personal 6 month Open Enrollment ends, it can be very difficult to find new coverage. The mistake we see some people make is waiting too long to find supplemental insurance when they are new to Medicare. Don’t assume that you only need Medicare Parts A & B from the government. You may need more to be better covered.

Contact Us For Quotes, Rates And Online Enrollment

There is so much to love about that State of Kentucky. Beautiful countryside, magnificent horses, innovative distilleries, and great bourbon all come to mind. We spend a lot of time here and always enjoy the wonderful people we meet and places we experience

Our independent agency offers Medicare supplement insurance, Advantage plans, and Part D Drug coverage across the entire state. From Louisville to Lexington – Bardstown to Florence – and all places in between, we can help you find the supplemental insurance that best fits your needs and budget. Contact us today to get started!