North Carolina Medicare supplement insurance policies will help pay doctor and hospital costs that Original Medicare doesn't cover, like co-payments, co-insurance, and deductibles. These plans are regulated by the state and federal government but marketed through insurance companies which compete against one another helping to keep costs affordable. If you have original Medicare and you buy a North Carolina Medigap policy, Medicare pays its portion of the Medicare-approved amount for covered health care costs, and then your North Carolina Medigap plan pays its share. A North Carolina Medigap insurance plan is different from a Medicare Advantage Plan. Those plans are different ways to get Medicare benefits and are not guaranteed renewable, while a Medigap insurance plan covers the out of pocket costs left by original Medicare benefits. A few Medicare supplemental plans also offer coverage for services like medical assistance when you travel outside the U.S. that Original Medicare fails to provide.
To find a quality North Carolina Medicare Supplement Plan click here then request quotes from an independent agent. Once receive a list of quotes, pick out the plan that best meets your needs. Then contact your agent and let him know what plan you want. How simple is that!
Seven important facts about North Carolina Medicare supplemental insurance policies
1. All standardized N.C. Medigap policies are guaranteed renewable even if you have health conditions. Therefore, the insurance company can't terminate your N.C. Medicare supplement insurance policy provided that you pay the premium.
2. Some N.C. Medigap plans sold in the past covered prescription drugs, but N.C. Medigap insurance policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage you will need to get Medicare prescription drug plan (Part D).
3. It is illegal for anyone to sell you a N.C. Medigap policy if you have a Medicare Medical Savings Account (MSA) plan.
4. All insurance companies that are licensed to sell insurance in your state may sell you a N.C. Medicare supplement policy.
5. Should you have a Medicare Advantage Plan, it is possible to apply for a N.C. Medicare supplement insurance plan, but you have to terminate your Medicare Advantage Plan before your Medigap policy starts.
6. If you are married and want coverage for you and your spouse, you'll both have to buy separate N.C. Medicare supplement insurance policies. A N.C. Medigap plan can only cover one person.
7. You will need to have both Medicare Part A and Part B.
Ten plans
North Carolina Medigap insurance plans are available in essentially ten plans and are labeled with the letters A through N. I, H, and J are outdated policies that are no longer available. North Carolina Medigap plan A is typically the least expensive but also delivers the minimum level of coverage while North Carolina Medigap plan F provides the best coverage. Medigap plan F covers 100% of the copayments, coinsurance, deductibles, and even the excess charges associated with Medicare. Medigap plan G is the same as plan F except for not covering the yearly deductible for Medicare Part B. Frequently the yearly savings on the plan G premium is more than the cost of the Medicare Part B deductible so it is definitely worth checking out.
Must know
When searching for a North Carolina Medigap plan it is useful understand that all of the plans are standardized. Which means every plan by the exact same letter provides the exact same coverage. So in other words N.C. Medigap plans provided by Forethought, Mutual of Omaha, Secure Horizons, and Sterling all provide exactly the same coverage despite the fact that the companies charge different premiums. For most, the best time to first obtain North Carolina Medicare supplement insurance is when first turning 65. During the first six months when you turn 65 or whenever you first purchase Medicare Part B the insurance companies cannot turn you down and there is no medical underwriting. This is a huge benefit as there are numerous medical conditions that will normally stop you from purchasing North Carolina Medicare supplemental insurance.