Georgia Medicare Supplement Plans

Georgia residents have ten supplemental plans to help close the gap that Medicare can potentially leave in medical coverage. Although the Plan F option is what approximately 50% of people on Medicare choose, there are plans designed to help people with different needs living in this particular state. All of these plans are designed to help cover the out of pocket costs such as deductibles, copays and coinsurance.

Here is a basic pros/cons overview regading the Georgia Medigap or Georgia Medicare Supplement insurance program:

Pros:

  • Multiple Options – By having 10 different private insurance companies to choose from, consumers have competition to shop between to better find the right insurance for their needs at a price they can afford. We focus on 3 of these plans, but all will be considered based on your needs.
  • 6-Month Open Enrollment – The open enrollment period starts when a person turns 65 and they have 6 months from that date to research and make a decision on supplemental insurance without a penalty and without being able to be turned down.
  • Savings – If you are someone with health issues or who is on several medications, these supplemental plans can save you a lot of money in copays and deductibles that would outweigh the cost of the monthly premiums.
  • Uniform Plan Benefits – In Georgia, the benefits offered by insurance companies for their Medigap policies are the same as for all companies. The costs of these policies are not the same, however, so it is important to shop around for the best price.

Cons:

  • Pre-Existing Conditions – Some pre-existing conditions can affect when certain supplemental insurance plans take effect. Some conditions with certain policies can have a 6-month waiting period before the supplemental insurance kicks in. This does not affect the actual Medicare Plan A or Plan B policy, which does not have this condition. Make sure to ask if the policy you are considering has this stipulation.
  • Premiums – Georgia Supplemental Insurance Plan premiums range on average from $100 to around $189 per month for one person. For someone on a fixed income, this can be quite a lot of money. Finding the right plan at the best price is crucial.

Insurance, in general, can be quite confusing. Add in the rules of Medicare and trying to figure out what kind of gap insurance you might need, and your head can easily get lost in a fog of information. However, you are not alone in your search. There are organizations such as AARP that have most, if not all of answers that you are looking for. They have done the research, compiled the information and have made it readily available to you. The key to finding clear answers about your insurance needs is to know which questions to ask.

  • Know Your History – Do a detailed review of your medical history over the past couple of years so that you have an idea how often you received medical treatment and the costs of those treatments; both what you paid and what was charged.
  • Know Your Medications – Make a list of your prescriptions and verify that the plans offered cover them and how much is covered. Know the costs of the Medication so you know what your out of pocket will be.

If you prepare yourself by having an intimate knowledge of your current medical expenses, both incurred and paid, you will have the information you need to ask the right questions when choosing your Medicare supplemental plan.

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