Blue Cross Blue Shield of Iowa Part G

What Are Medigap Plans?

Medigap plans are Medicare Supplement Insurance offered by Medicare-approved private insurance companies to help cover cost sharing requirements of Original Medicare Parts A and B.

While Medicare pays for a large percentage of the health care services and supplies you may need, you are still responsible for a portion of the costs in the form of deductibles, copays, and coinsurance. Medigap policies help with these costs and sometimes offer more coverage for excess charges and foreign travel health emergencies.

Medigap plans are standardized by Medicare and regulated by state laws and insurance commissioners. You pay a monthly premium for Medigap. Costs and availability of Medigap plans vary depending on several factors including your age and gender, the insurer, and your state of residence. Learn about Medigap in Iowa so you can determine which plan best meets your needs.

• In 2019, there were more than 300,000 Medicare Supplement enrollees in Iowa.
• Plans F and G are the most popular and comprehensive Medigap plan types in Iowa. Plan F is no longer available to people who are eligible for Medicare after December 31, 2019.
• Monthly premiums for Plan G for a 65 year old female who doesn't use tobacco range from $84 to $342.
• Iowa does not require Medigap insurers to https://www.healthinsurance.org/medicare/iowa/under age 65, however monthly premiums are much higher.

Medicare Supplement Plans in Iowa

Compare ratings of some of Iowa's Medigap providers:

What Medicare Supplement Plans Cover

Medigap policies serve as your secondary source of insurance after Medicare pays. Medigap fills in the "gaps" between what Medicare pays for covered services and what you are charged. Some plans offer extended coverage for Part B excess charges and foreign travel emergency costs.

There are ten standardized Medigap plans that are regulated by federal and state governments. Two of the ten plans (F and G) are the most comprehensive plans and also offer high-deductible versions. All plans are not available in all states.

Medigap policies may include the following benefits:

• Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
• Part B coinsurance or copayment
• The first three pints of blood
• Part A hospice care coinsurance or copayment
• Skilled nursing facility care coinsurance
• Part A deductible
• Part B deductible (only certain plans for people eligible for Medicare before January 1, 2020)
• Part B excess charges
• Foreign travel emergency services
• Out-of-pocket limits

Do You Need a Medicare Supplement in Iowa?

What Medigap Plans Cost in Iowa

Expect to pay about $65 to $342 each month for a Medigap plan A, G, or N in Iowa if you enroll during your open enrollment period. Premiums will vary depending on your insurer and how your premium is rated.

Medigap policies can be rated in three ways:

• Community rated (or no age-rated): Your premium isn't based on your age and may only increase due to inflation or other factors. Everyone, regardless of age, is charged the same premium.
• Issue-age rated (or entry age-rated): Your premium is based on your age when you buy the policy and won't increase as you grow older. Your premium may only increase due to inflation or other factors.
• Attained-age-rated: Your premium is based on your age and can increase as you grow older and due to inflation and other factors.

Medigap vs. Medicare Advantage Plans

Medigap and Medicare Advantage Plans are very different. You are eligible for either type of plan when you are enrolled in Medicare Part A and B, but you cannot have both at the same time. Both Medigap and Medicare Advantage Plans are offered by Medicare-approved private insurance companies. You can only choose to join plans that are available in your area.

Compare your options:

Types of Medigap Plans in Iowa

Every standardized type of Medigap plan is offered in Iowa, but Plans F and G offer the most comprehensive coverage and are the most popular.  Plans F and G also come in a high-deductible version.  Here are some highlights and difference among some of the plans:

Compare Medicare Supplement Options

* Plans F and G also offer a high-deductible plan in some states. With this option, you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount of$2,490 in 2022 before your policy pays anything. (Plans C and F aren't available to people who were newly eligible for Medicare on or after January 1, 2020.)

** For Plans K and L, after you meet your out-of-pocket yearly limit and your yearly Part B deductible, the Medigap plan pays 100% of covered services for the rest of the calendar year.

*** Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don't result in inpatient admission.

What's the most popular Iowa Medigap plan in 2022?

Plan F, because it pays the annual Part B deductible and is the most comprehensive plan available, is the most popular plan. However, because Plan F is only available to Medicare beneficiaries who were eligible before January 2020, Plan G is gaining in popularity. Plan G offers comprehensive coverage, except for the Part B deductible, and is widely available from most insurers.

When to Sign Up for Medicare Supplement Plans in Iowa

In general, you will get the best price for Medicare Supplement Insurance if you purchase a plan as soon as you are eligible for Medicare and enrolled in Parts A and B.

Medigap Open Enrollment starts on the first day of the month that you turn 65 and are enrolled in both Parts A and B and lasts for six months. An insurance company is not allowed to use medical underwriting to decide whether to accept your application or change the price during this time.

To enroll in a Medigap Plan, contact the insurance company to make sure you are in your open enrollment period or have guaranteed issue rights. Complete the application and determine when you want your policy to start.

There are certain situations which may give you guaranteed issue rights to purchase a Medigap policy, regardless of your health conditions or any preexisting health conditions.

These include:

• Moving out of the coverage area while in a Medicare Advantage Plan or Medicare SELECT Plan
• Your existing Medicare Advantage Plan leaving Medicare coverage
• Your other insurance plan outside of Medicare is ending
• You are within your trial right period
• Your plan coverage ends through no fault of your own

How to Choose a Medigap Plan in Iowa

Consider these factors as you compare Medicare Supplement Insurance plans available in your area:

Medicare Supplement Resources in Iowa

If you're feeling confused by the multitude of plan options available, getting in touch with trained, unbiased counselors can be a good first step. Iowa is home to organizations that can help you make an informed decision.

Certified Senior Advisor (CSA)^®

As a health care professional since 1987, Kelly Blackwell has walked alongside and cared for seniors as they journey through the season of their fourth quarter of life. Blackwell holds a Bachelor of Science in nursing from the University of Northern Colorado, a Master of Science in health care administration from Grand Canyon University, an interprofessional graduate certificate in palliative care from the University of Colorado Anschutz Medical Campus and holds a Certified Senior Advisor^® credential from the Society of Certified Senior Advisors.

Blackwell contributes to the University of Colorado-Anschutz blog and has been published in "The Human Touch" distributed by the University of Colorado Center for Bioethics and Humanities. She cowrote "Dying Is" for Pathways Hospice.

A registered nurse, Blackwell understands health insurance choices influence quality of life and are driven by values, goals, and beliefs. She's passionate about engaging with, educating, and empowering seniors as they navigate the health care system. She's equipped to lend an experienced, compassionate voice to beneficiaries seeking information about Medicare Advantage Plans.

As a CSA^®, Blackwell has access to valuable resources for Medicare beneficiaries. Her work as a bedside nurse and clinical manager has given her the opportunity to see how Medicare rules, regulations, and benefits work when patients need them. With a passion to learn and to make a difference in the lives of seniors, Blackwell supports seniors through Medicare and fourth-quarter life decisions.

Learn More From Our Sources

• Medicare | What's Medicare Supplement Insurance (Medigap)? | Last accessed July 2022
• Medicare | Find a Medigap policy that works for you | Last accessed July 2022
• Medicare | Costs of Medigap policies | Last accessed July 2022
• Medicare | How to compare Medigap policies | Last accessed July 2022
• Medicare | Guide to Choosing a Medigap Policy | Last accessed July 2022

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Source: https://www.medicareplans.com/medicare-supplement-plans-iowa/

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