Medicare Supplement Plans in Ketucky

Medicare Supplement Plans in Kentucky

For Medicare Supplement Plans in Kentucky, there are several choices, but what is the best Medicare Supplement Plan in Kentucky?  The answer to that question is “It depends”.  I know that is not exactly what you are looking for but please keep reading for a full explanation or call us anytime at 844-528-8688 for a personal consultation on what Medicare Supplement Plan in Kentucky fits you the best.

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Regardless of your location in Kentucky, when you become eligible for Medicare, it’s essential to secure a Medicare supplemental plan that suits your financial needs and lifestyle. Medicare Supplement Plans in Kentucky can be acquired without the need for clinical underwriting during your initial enrollment period. Please refer to our Medicare Supplement Guide for comprehensive details on how to enroll in Medicare.

First Things First, You Need Medicare

To be eligible for a Kentucky Medicare Supplement Plan, you need to have Medicare Parts A and B.

About Medicare Supplement Insurance Plans in Kentucky

Your Medicare enrollment process can follow two distinct paths, based on your unique circumstances. To discover the necessary steps for your Medicare enrollment, review the scenarios below to determine the one that best aligns with your situation.

Finding Your Kentucky Medicare Supplement Plan

Having learned the process of enrolling in Medicare, the next step is to identify the most suitable Medicare Supplement Plan in Kentucky for you. While the rates of Medicare Supplement Plans in Kentucky are a critical factor, it’s equally important to consider the provider’s reputation and their history of rate increases. An attractively low initial premium could potentially lead to substantial costs in the future.

Often, Medicare Supplement Companies enter a market offering a low ‘introductory price’, essentially to attract new clients. However, once they’ve established their client base, they may significantly hike the rates to offset any losses. This practice is one of the reasons why we, at Medicare Solutions Team, partner with over twenty providers of Medicare Supplement Plans in Kentucky.

Medigap Plans in Kentucky are Standardized

Medicare Supplement Plans, sometimes called Medigap Plans are set and standardized by CMS (Medicare).  They offer 10 plans but the three most popular are Plan F, Plan G, and Plan N.

Top 3 Medicare Supplements in Kentucky

While there are 10 standardized Kentucky Medigap plans, only 3 make the list. Plan N, G, and F. Keep reading for details on each of the Kentucky Medicare Supplement Plans.

Kentucky Medicare Supplement Plan F

The Plan F Medicare Supplement Plan Kentucky, simply put, covers everything.  On the face that seems like a great idea, but there are a few reasons why.

1. It is the most expensive Plan on the Market
2. It has the highest rate increases of all the Medicare Supplement Plans
3. The Medicare Supplement Plan F will no longer be available to new enrollment as of 2020.

**The Medicare Supplement Plan F High deductible plan will not be changed in 2020.

Kentucky Medicare Supplement Plan G

The Medicare Supplement Plan in Kentucky that offers the most coverage for the lowest premium is the Medigap Plan G.  The Medicare Supplement Plan G offers the exact same benefits of Plan F except that you will pay the Part B deductible.  The Part B deductible is set by Medicare and can change, but at this time it is $233.00 per year. 

The Kentucky Medicare Supplement Plan G is normally $300.00 to $400.00 per year less in premium than the Plan F and historically has much lower rate increases.  

Once the Part B deductible ($233.00 for 2022) is paid, your benefits will be identical to the Medicare Supplement Plan F.  Why would anyone want to pay an insurance company $300.00 to $400.00 a year more just to pay a $233.00 deductible.

Kentucky Medicare Supplement Plan N

Medicare Supplement Plan N is one of the lowest-cost Medicare Supplement Plans, but you will take on a little more risk and out-of-pocket costs.  With a Medigap Plan N, you will have a copay of $20.00 for doctor visits and $50.00 for an emergency room visit.

Paying a copay is something that most people are used to, and does add some cost if and when you go to the doctor, but there is another fact of the Plan N that you need to be aware of.

Plan N does not cover Medicare Part B excess charges, now this could be a big deal or nothing at all.  If a doctor accepts Medicare but is not assigned by Medicare he can legally charge you 15% over the Medicare-approved amount.  You would then be responsible for that extra cost.

Now the excess charges could end up not being a problem at all, in fact, there are some states that do not allow the excess charges, and sadly Kentucky is not one of them.  As of the last report, approximately 93% of doctors across the United States accept Medicare Assignment and if you do your due diligence when looking for a doctor or having a procedure done, it should not be a problem.

Kentucky Medicare Supplement Plan A

The Kentucky Medicare Supplement Plan A is the most affordable Medicare Supplement option that is available to applicants. Certainly, the monthly premium is lower because the coverage is reduced which means policyholders will still have to deal with certain out-of-pocket expenses. It is the most basic of all the plans being offered in Kentucky. The coverage provided by Medicare Supplement Plan A is as follows:

• Hospital Costs – Covers the Medicare Part A coinsurance and provides up to an additional 365 days of coverage after Medicare Benefits are exhausted.
• Medical Expenses – Covers Medicare Part B coinsurance (typically 20%) and copayments.
• Blood – Covers the first three pints of blood not covered by Medicare.
• Hospice Care – Covers the Hospice Care coinsurance and copayments not covered by Medicare.

It’s important to note the Medicare Supplement Plan A policyholders will still be responsible for the Medicare Part A and Part B deductibles.

Kentucky Medicare Supplement Plan B

For Medicare beneficiaries who are looking to offset most of the out-of-pocket expenses associated with Medicare, the Medicare Supplement Plan B offers some additional coverage with very affordable premiums. This plan may be a suitable solution for seniors who are very healthy and rarely use a physician or hospital services. The coverage offered by the Kentucky Medicare Supplement Plan B is as follows:

• Hospital Expenses – Supplement Plan B pays the Medicare Part A deductible and the Part A coinsurance requirement. Plan B also provides up to 365 days of coverage after your Medicare benefits have been exhausted.
• Medical Expenses – The Medicare Supplement Plan B covers the coinsurance or copayment requirements in Medicare Part B
• Blood – Plan B pays for the first three pints of blood that are not covered by Medicare.
• Hospice Care – Plan B picks up the costs for Hospice Care coinsurance or copayment

Although Kentucky Medicare Supplement Plan B will take care of the Medicare Part A deductible, the Part B deductible still must be paid by the policyholder.

Kentucky Medicare Supplement Plan C

Although Medicare Supplement Plan A and Plan B pick up some of the basic gaps found in Original Medicare, Medicare Supplement Plan C is more comprehensive which means less out-of-pocket expenses are paid by the policyholder. In fact, Medicare Supplement Plan C takes care of some additional coverages that A and B do not address. The coverage provided by Kentucky Medicare Supplement Plan C is as follows:

• Hospital Expenses – The Medicare Supplement Plan C takes care of the Medicare Part A deductible ($1,340 in 2018), Part A coinsurance and an additional 365 days of coverage after Medicare benefits are exhausted.
• Medical Expenses – Plan C will cover the Medicare Part B deductible along with the coinsurance and copayment expenses.
• Blood – Supplement Plan C covers the cost of the first three pints of blood not covered under Original Medicare.
• Hospice Care – Plan C also takes care of the Hospice Care copayments or coinsurance required by Medicare Part A.
• Skilled Nursing Facility Care– The Medicare Supplement Plan C takes care of the coinsurance requirement while at a skilled nursing facility.
• Foreign Travel Emergency Expenses – Provides coverage for emergency medical expenses while traveling out of the country (up to your plan limits).

Although the Kentucky Medicare Supplement Plan C is very comprehensive compared to Plan A and Plan B, the policyholder may still be responsible for Medicare Part B excess charges in states where this practice is allowed.

Kentucky Medicare Supplement Plan D

First things first. Medicare Supplement Plan D is not the same as Medicare Part D (prescription drug coverage). Although Kentucky Medicare Supplement Plan D is considered comprehensive, there are two glaring Medicare gaps that it will not cover. The Medicare Part B deductible and the Medicare Part B excess charges. Medicare Supplement Plan D offers the following coverage:

• Hospital Expenses – Medicare Supplement Plan D pays the deductible and coinsurance required under Medicare Part A.
• Medical Expenses – The Supplement Plan D takes care of the Medicare Part B coinsurance or copayments for outpatient services.
• Blood – Plan D picks up the costs for the first three pints of blood not covered under Original Medicare.
• Hospice Care – Supplement Plan D also covers the Medicare Part A Hospice Care coinsurance or copayments.
• Skilled Nursing Care – Medicare Supplement Plan D covers the coinsurance charged under Original Medicare.
• Foreign Travel – Supplement Plan D will cover emergency foreign travel expenses not covered by Original Medicare up to the limits stated in the plan you purchase.

Although Kentucky Medicare Supplement D offers additional coverages, it will not cover the Medicare Part B deductible or Part B excess charges in states that allow it.

Kentucky Medicare Supplement Plan K

Medicare Supplement Plan K is quite different than A through D because it places a limit on out-of-pocket expenses. The out-of-pocket maximum combined with 50% coverage on other services allows the insurers to price this plan very low which has resulted in the plan gaining popularity across America. Plan K is a great solution for applicants willing to pay a larger share of their health care expenses in exchange for a very low monthly premium. The coverage available for Supplement Plan K is as follows:

• Hospital Expenses – Supplement Plan K picks up 50% of the deductible under Original Medicare Part A.
• Medical Expenses – Plan K pays 50% of the coinsurance requirement under Medicare Part B.
• Blood – Medicare Supplement Plan K will take care of 50% of the cost of the first three pints of blood not covered under Medicare Part A.
• Hospice Care – Plan K will cover 50% of the Medicare Part A Hospice Care coinsurance or copayment.
• Skilled Nursing Care – Plan K will cover 50% of the Skilled Nursing Facility copayment.

Kentucky Medicare Supplement Plan K will not cover the Medicare Part B deductible, the Medicare Part B Excess charges, or provide coverage for foreign travel emergency medical expenses.

What about Medicare Advantage Plans?

Medicare Advantage and Medicare Supplement plans, also known as Medigap, are two different types of health insurance options for those enrolled in Medicare, each with its unique benefits.

Medicare Advantage plans are an “all-in-one” alternative to Original Medicare. These plans are offered by private insurance companies approved by Medicare, and they often provide additional benefits like dental, vision, and hearing care, which are not typically covered by Original Medicare. However, these plans usually have a limited network of doctors based on your zip code and healthcare facilities, and the total out-of-pocket costs can be high.

On the other hand, Medigap plan options work alongside Original Medicare (Part A and Part B) to cover certain out-of-pocket costs that Original Medicare doesn’t cover, such as deductibles, copayments, and coinsurance. These plans tend to offer more flexibility, as they don’t limit you to a network of providers; you can see any doctor who accepts Medicare. While these plans don’t include additional benefits like dental or vision, they often result in lower out-of-pocket costs overall and offer more predictable expenses. This predictability and flexibility can make Medicare Supplement plans a better choice for those who want comprehensive coverage, prefer to stick with their trusted healthcare providers, or who frequently travel within the U.S.

Frequently Asked Questions