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Medicare Supplement Insurance In Louisiana

Louisiana Medicare Supplement PlansUsing our independent agency, you can compare Medicare supplement insurance plans in Louisiana direct with several highly-rated providers.

We’ll help you shop for the lowest rates available while also explaining the differences between the various plans.

If you are new to Medicare and in your 6-month open enrollment window, losing group coverage, or simply shopping for lower rates, we can help. Should you need more than just quotes, we will be happy to help educate you about your insurance options and enrollment timelines as well.

Comparing Medicare Supplement Plans In Louisiana

There are ten standardized plans to choose from: A, B, C, D, F, G, K, L, M & N. Not all companies offer all plans, however.

Plans F, G, and N are the most popular (and often purchased) Medicare supplements in our experience. These plans cover the most significant gaps while leaving few out-of-pocket expenses for the insured.

It’s important to note that Plans F & C are no longer available to those who are new to Medicare in 2020 and beyond. This was due to legislation by Congress. If you already own these policies, you can keep them, however.

In many cases, Plan G offers some of the best overall value. It fills all gaps except for the small Part B deductible ($240 in 2024) and can be more than $25 a month less than Plan F. Premium increases tend to be smaller with Plan G as well.

Plan N is also a great option when balancing monthly premiums and benefits. In Louisiana, it can be found for under $100 a month in many cases. Like Plan G, it does not cover the small Part B Deductible. In addition, the insured has copays – $20 at any doctor’s office and $50 at the Emergency Room.

Plans K, L, & M are cost-sharing plans with additional out-of-pocket and are therefore less popular. Unlike Medicare Advantage plans, they have no network restrictions to worry about. Monthly premiums will be less with these three plans and may be a good fit for some consumers.

Variations of Popular Medicare Supplement Plans

Many carriers offer High Deductible Plans G and F as supplemental options. With HD Plans G and F, you will be responsible for $3,530 in out-of-pocket expenses before the supplement pays benefits.

However, high Deductible Plans do not affect how Original Medicare A & B provides benefits. HD Plan F is one of the least expensive Medigap plans available and can be found for around $40 a month in some cases.

Additionally, some insurance companies offer “Select” Medicare supplement plans that require the use of network providers for non-emergency care. Plans C, F, and G are offered in a Select version by carriers like Mutual of Omaha and United Healthcare AARP. Policyholders will need to use in-network doctors and hospitals for routine care with a Select plan. We don’t see too much interest in this Medigap version, however.

Medicare Insurance Rules and Regulations

Supplemental policies are standardized across the board. In other words, a Plan G is a Plan G. No carrier can change the benefits in any way.  And you don’t have to worry about networks with almost all plans. If your doctor accepts Medicare, then s/he will accept almost any supplement you purchase.

What is unique from state to state are some of the enrollment rules. In Louisiana for instance, you can purchase a supplement when you are under age 65 and new to Medicare due to disability. You have the same open enrollment window as someone who is 65.

Plans will be more expensive when you are under 65, however. A Medicare Advantage plan can be a good alternative if you are looking for something more affordable than a supplement. We offer both. Contact us to discuss the nuances between these very different approaches to filling in the gaps in your Medicare.

Louisiana Medicare Supplement Birthday Rule

A new rule in Louisiana allows consumers to change their Medicare Supplement policy without medical underwriting. This means there are no health questions to answer when switching to a new policy with the same or lesser benefits. This is advantageous for those who may have been turned down in the past because of preexisting health conditions.

What’s the catch? The Louisiana Medicare Supplement Birthday rule only allows you to make this change with the same insurance company. So if you have an Aetna policy, then you will have to switch to another Aetna policy of like or lesser coverage. You cannot switch to a different insurance company.

For example, you can switch from a Plan F to a Plan G or Plan N since these two policies offer fewer benefits than Plan F.

This change can be made up to 30 days before – and 63 days after – your 65th birthday. This rule was created primarily to help those who are on Plan F now since it’s no longer available for new enrollees.

Medicare Advantage Plans And Part D Drug Coverage

If you are new to Medicare, you may be deciding between a supplement and an Advantage plan. We can help you understand the differences between the two. First and foremost, you cannot own both – it’s one or the other. Unlike most supplements, Advantage plans are network-driven and offered by larger insurance companies like Aetna, Humana, United Healthcare, and the like.

And Advantage plans usually (not always) will include prescription Part D coverage whereas supplements will not. If you buy a Medicare supplement, then you will need to separately purchase a Part D plan. We help our clients with those as well. You’ll also want to compare your out-of-pocket exposure in and out of network with Advantage plans. There’s a lot to consider, but we can help.

Contact Us For Quotes And Information

There are many regulations and timelines when it comes to Medicare insurance plans. We help simplify the education and enrollment process so you can enroll in the policy type that best suit your needs.

Our agency serves all of Louisiana and we’ll help you compare the direct rates with the Medigap insurance plan(s) that you are most interested in. Contact us today to get started.