Asset Preservation Group is now offering options for Medigap coverage
What is a Medicare Supplement plan?
A Medicare Supplement plan in Kentucky, also known as Medigap, offers additional coverage for expenses not covered under Original Medicare. These plans are designed to work in combination with Part A and Part B, to cover costs like copayments, coinsurance, and deductibles. In addition, some supplement plans may include coverage for services, such as blood, nursing and hospice cost share, and medical services rendered while the beneficiary is out of the country.
Enrolling in Medicare Supplement plan in Kentucky
The best time for beneficiaries to enroll in a Medicare Supplement plan in Kentucky is during the Medicare Supplement Open Enrollment Period. This period, which begins the first day of the month a beneficiary turns 65 and is enrolled in Medicare Part B, continues for six full months. During this time, the company offering the Medigap plan cannot charge more to a beneficiary who has previous health concerns. Companies are also prohibited from denying coverage to beneficiaries based on medical underwriting during this period.
Despite the benefits of the Open Enrollment Period, there may be other times when beneficiaries realize they want the additional coverage a Medicare Supplement Plan in Kentucky offers. However, beneficiaries that enroll during those times may be subject to medical underwriting. Companies may charge higher monthly premiums or even deny coverage to some beneficiaries, based on the medical history or current state of health.
Choosing a Medicare Supplement plan in Kentucky
There are 10 basic types of Medigap plans available, all categorized by a different letter of the alphabet, ranging from "A" through "N." Each type of plan will offer identical coverage, although the cost of the plan may vary between companies and locations where the plan is offered. Beneficiaries looking for a Medicare Supplement plan in Kentucky may want to begin by choosing the plan type that best meets their needs. Once a plan type is chosen, the specific plan may be selected based on the overall cost of the plan.
Did you know you change your Part D coverage every year during Annual Election Period with no health history questions?
Go to: www.medicare.gov
At the top middle of page is a blue box. Click on “Drug Coverage Part D.”At the bottom of the page, click on “Find Health and Drug Plans.”Enter your zip code, then click the copper colored box that says “Find Plans” (you may have to choose a county).
You will then complete the following steps:
Step 1 Click the last button on each question -- “I don’t know” Click on “Continue to plan results” -- (copper colored box)
Step 2 Enter your medications and dosages (**If you previously entered your medicines, use your drug list ID and Password date to pull up your meds. This box is on the right.) Click on “my drug list is complete” (copper colored box)
Step 3Scroll to middle of page to select your pharmacy Click dark blue “add pharmacy” under your pharmacy name Click on “continue to plan results” (copper colored box)
Step 4 In the middle of the page is “Summary of Your Search Results” Click the box “Select All” next to Prescription Drug Plans Go to bottom of page click on “Continue to Plan Results” (copper colored box)
Step 5 This page will say ‘Your Plan Results’ Choose plans you wish to compare by clicking box next to plan name Click on “Compare Plans” (copper colored box)
You can then compare plan specifics, such as plan premium, deductible, estimated annual costs, co-pays per prescription, will state if all drugs are covered and if they have limits or restrictions. (Pay close attention to the limits or restrictions. The plan may require ‘step therapy’ or ‘prior authorization’ to cover your medicine.)
Step 6 You can then elect to print the plan information if you wish. Many people call to enroll over the phone or you can enroll online or request a kit with paper applications.