We offer Medicare supplement insurance in Illinois direct from many affordable and highly-rated providers.
Using our independent agency, you can compare the direct rates from the most competitive providers online and hassle-free.
You can compare the direct rates from Aetna, American Continental, Anthem Blue Cross Blue Shield, Bankers Fidelity, CSI, Cigna, GTL, Heartland, Humana, Liberty Bankers, Manhattan Life, Medico, Mutual of Omaha, Sentinel, United American, United Healthcare AARP, Western United Life, and many others.
If you are new to Medicare at age 65 or due to disability, retiring and losing group coverage, or shopping for better rates on your current plan – we can help. We also provide our clients with insight as to which providers have had stable renewal rates and lower yearly increases.
In Illinois, Supplement Plans F, G, and N are the most popular. Plans G & N fill in the most important gaps in Medicare and are very affordable.
Plan G is popular as it covers all gaps except for the yearly Part B deductible. Out-of-pocket exposure is limited with Plan G and in many cases, the premium savings can more than cover the deductible. With Plan F no longer for sale to new Medicare beneficiaries in 2020, Plan G & N are the most comprehensive policies available.
Plan N is one step below Plan G. It has office ($20) and ER ($50) copays along with the Part B deductible. It’s the only supplement with copays. Plan N does not cover Part B Excess Charges either, but those are very rarely encountered. If encountered, they’re usually very small amounts. Plan N is the least expensive Medicare supplement that still offers comprehensive coverage. It can be found for under $100 a month for many.
High Deductible Supplements As A Low-Cost Option
Additionally, several insurance companies offer High Deductible Plans G and F. These high deductible plans are popular as they’re the least expensive supplements available. HD Plans G & F have a larger deductible to satisfy, but monthly premiums are close to $40 in most parts of Illinois. United American, Bankers Fidelity, Cigna, Humana, and Mutual of Omaha offer some of the best rates for this Medigap policy.
You can view a Medicare Supplement benefits chart here to see the ten different Medigap policies and what they cover. Plan F was the most popular for a long period of time with nearly a nearly 40% purchase rate, but Plans G and N are quickly gaining ground due to the changes in 2020.
Most of our clients are shopping for low rates now and price stability later – not just the plan with the most enrollment. We can help you understand your best options for longevity.
Medicare provides a six-month open enrollment window when you turn age 65. You cannot be denied insurance coverage during this time and you can enroll in any plan of your choice.
There are no health questions to answer, no waiting periods for preexisting conditions, and no medical underwriting concerns.
Other guarantee issue or qualifying events can include loss of qualifying employer coverage, leaving a Medicare Advantage plan within one year, or moving to a new service area – from one state to another.
In fact, many people who have group insurance will defer Medicare Part B beyond age 65 and wait to enroll until they retire and lose their coverage. You just need to make sure your group plan has more than 20 members for this strategy to work. You also want to be careful about electing COBRA. Even if you take COBRA, the government still requires that you enroll in Medicare Part B. And at that point, it can be more affordable to purchase a supplement anyway.
Once you enroll in Medicare Part B, that is the time to take action. You have 3 months before, the month of, and 3 months after to choose supplement insurance and a Part D drug plan. We can help you understand all of your options and the timelines that coincide. Half of the battle is knowing what to do and when so that you stay compliant with the rules.
In Illinois, there are nearly 700,000 consumers enrolled in Medicare supplement plans and over 1 million people over the age of 65. Approximately 18% of those on Medicare are enrolled in Medicare Advantage plans with the rest receiving coverage from other programs. There is a lot of competition in this market, so it’s best to shop around.
What is the Medicare Supplement Birthday Rule in Illinois and how does it work? This rule requires insurance companies to accept consumers for like or lesser coverage without medical underwriting. For instance: Consumers who own a Plan F, can apply for a new Plan F (or Plan G or Plan N) since these are all plans with fewer benefits.
One catch to the Illinois Medicare Supplement Birthday Rule is that it can only be done with the same company. So if you have a Mutual of Omaha Medicare Supplement, then you can switch to a new Mutual of Omaha Supplement with the same or fewer benefits
Applicants must be between the ages of 65 and 75 years old. The application must be submitted within a 45-day window. This window begins on the consumer’s date of birth.
Pro Tip: Since this rule only allows for changes within the same insurance company, it might be wise to choose a company that introduces new lines of business every few years. Some companies are known to do this to keep rates down. This will give you more opportunities for lower rates. Contact us to discuss the best way to take advantage of this new Medicare rule in Illinois.
If you are eligible for Medicare due to disability in Illinois, you have the same open enrollment rights as those age 65. This is a six-month window of time when you can enroll in a supplement or Advantage plan of your choice. (If you choose a supplement, then you will also likely need a Part D drug plan. We help with those too.)
Rates can vary widely between companies, so it’s best to compare quotes (and renewal history) from several providers. If you miss your open enrollment window, underwriting may be required and coverage can be denied, but you don’t have to wait until age 65 to take action. Once you qualify for disability, you need to find coverage at that time.
Insurance companies are allowed to charge higher rates for Medicare supplement insurance in Illinois when you are under the age of 65. A Medicare Advantage can be a good alternative if supplemental rates are unaffordable. We help with Advantage plans as well and can explain the differences between the two.
We serve the entire state of Illinois, including Danville, Decatur, Chicago, Springfield, and all places in between. We will walk you through the basics of Medicare, offer comparisons and history and provide direct enrollment in the Medicare insurance plan(s) that best fit your needs and budget.
There are no additional fees to use our services and, by rule, we offer all plans direct – at no additional cost. We are a one-stop shop for education and enrollment.
