Compare Indiana Medicare supplement insurance plans from several different insurance providers with our independent agency. Our agency represents all carriers direct to you and at no additional cost.
We work with those turning age 65 in open enrollment, individuals losing group coverage, and those shopping for better rates.
We work with: Aetna, Allstate, American Continental, Anthem Blue Cross and Blue Shield, Central States Indemnity, Cigna, Guaranty Trust Life, Heartland National, Humana, Manhattan Life, Medico, Mutual of Omaha, Nassau Life, Prosperity Life, Sentinel Life, United American, United Healthcare AARP, Western United, and several others.
There are ten supplemental plans to choose from – Plans A through N. In Indiana, Medicare Supplement Plans F, G and N are popular as they cover the most common gaps in Medicare.
Plan F offers the most comprehensive coverage as it fills in all gaps in Original Medicare. Like all Medicare supplements sold today, Plan F does not cover prescription drug overage. Part D drug plans are sold separately, but we assist our clients with those as well.
Plan G is also a good choice in Indiana for your supplemental policy. It covers everything except for the small Part B deductible ($226 for 2023) and the lower premiums more than make up for this deductible. Plan G has smaller yearly rate increases as well.
Plan N is unique in that it has office copays, but it can be found for near $80 a month in some cases. Neither the Part B Deductible nor Part B Excess Charges are covered by Plan N Supplements. In our experience, Part B Excess Charges are rare and not often encountered.
High Deductible Plans G and F are also good choices. For those who want low monthly premiums and the convenience of a traditional supplement, High Deductible Plans G & F are suitable options. The annual deductible is $3,470 for these two plans in 2023. This is much lower than the out-of-pocket associated with most Medicare Advantage plans.
Important Changes: If you are new to Medicare after January 2020, Plans F and C (including HD Plan F) are not available for purchase. This rule was passed by Congress. Comprehensive Plans G and N are still available and are strong Medicare Supplement insurance options. They fill in the largest gaps and leave little out-of-pocket exposure for the insured.
For 2023, the Part A deductible is $1,600 and the Part B deductible is $226. It’s a good idea to purchase a supplement that covers the Part A amount (which most do) as it’s the larger of the two. The Part B yearly amount is smaller and more manageable which is why Plans G and N are good choices.
Additionally, some carriers provide premium discounts if you are in open enrollment or applying with a spouse. Aetna, Anthem Blue Cross and Blue Shield, Humana, Mutual of Omaha, Manhattan Life, and several others offer discounts for both husband and wife when they’re insured together.
In other cases, you only need to live with someone else to qualify for a discount. Both residents do not need to buy a policy. The other individual can be unrelated and under age 65. Many plans also provide discounts if you pay monthly (bank draft) or annually as opposed to quarterly. And non-smokers typically qualify for lower rates on their Medigap coverage as well.
Medicare rules provide for a six-month open enrollment window when you turn age 65 – the three months before and after your 65th birthday. During those six months, you cannot be turned down for a Medicare supplement insurance policy. There is no waiting period for preexisting conditions during Medicare open enrollment.
In some cases, you can be turned down for an insurance policy if you are in poor health. That’s why it’s very important to take advantage of your enrollment window. There are some qualifying events that negate this rule, such as: losing group coverage, moving to a new service area, enrolling in Part B for the first time and/or involuntary loss of other creditable coverage.
When losing group coverage of any kind, you will need to show proof through a letter from your previous employer. Most group plans will send out a letter of your guaranteed Medicare rights detailing your loss of coverage.
If you are under the age of 65 and eligible for Medicare due to disability, current laws in Indiana do not allow for the purchase of a supplement. You can purchase a stand-alone prescription Part D plan or a Medicare Advantage Plan. You may not need both as most Advantage plans include Part D Drug coverage.
In our view, Medicare Advantage plans offer a good alternative to Original Medicare and a stand-alone drug plan. These private insurance policies cover all benefits provided by Original Medicare Parts A & B – and then fill in some of the gaps left behind. Oftentimes, ancillary benefits like dental, vision, and hearing are included as well.
Your out-of-pocket exposure can be much less with an Advantage plan when compared to nothing at all. You do want to make sure that your doctors and hospitals accept the plan you prefer before enrolling. We can help you compare benefits and costs and better understand what to expect from Medicare Advantage coverage.
The state of Indiana offers a comprehensive website detailing insurance options for those under/over the age of 65.
Our independent insurance agency serves all of Indiana including Indianapolis, Bloomington, Richmond, Fort Wayne, Terre Haute, and beyond. You can compare the lowest rates from several highly-rated companies and enroll directly with us at no additional cost.
