Using 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.
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, N tend to be the most purchased and popular Medicare supplements in our experience. These plans cover the most common gaps while leaving few out-of-pocket expenses for the insured.
In many cases, Plan G can offer some of the best overall value. It fill all gaps except for the small Part B deductible ($198 in 2020) and can be $20 a month less than Plan F in some instances. Premium increase tend to be smaller with Plan G as well.
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.
If you are new to Medicare in 2020, then Plans C, F and High Deductible F will be unavailable for purchase. Congress passed that rule a few years back. If you were Medicare eligible in Louisiana before 2020, then you can still shop for these older policies.
A few carriers offer High Deductible Plan G And F as a supplemental options. With HD Plans G and F, you will be responsible for $2,340 in out-of-pocket expenses before the supplement pays benefits. High Deductible Plans do not affect how Original Medicare A & B provides benefits, however. 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.
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. If you are looking for something more affordable than a supplement, then a Medicare Advantage plan can be a good alternative. We offer both.
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.
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.