Medicare supplement plans for Illinois
There are 10 standardized Medicare Supplement plans available in 47 states, each of which is identified by one of 10 letters (A, B, C, D, F, G, K, L, M, and N), with plans of the same letter offering the same benefits (for example, Plan N has the same benefits no matter where you buy it). Three states – Massachusetts, Minnesota, and Wisconsin – offer different kinds of standardized Medigap plans.
If you decide to enroll in Medigap in Illinois, you must be enrolled in Original Medicare, Part A and Part B. The best time to sign up is during the Medigap Open Enrollment Period, which is a six-month period that starts the first day you are age 65 or older and enrolled in Medicare Part B. During this timeframe, you can join any Medigap plan available in your area, with the insurance company of your choosing, without restrictions for medical underwriting or pre-existing conditions. If you decide to join Medigap in Illinois at a later date, you may be denied coverage or charged more for your insurance plan.
Medigap plans in Illinois and the rest of the United States are meant to supplement, not replace, Original Medicare. You have to remain enrolled in Original Medicare, Part A and Part B, and continue paying your Medicare Part B premium, in order to keep your health insurance coverage. If you need prescription drug coverage, you can enroll in a stand-alone Medicare Part D prescription drug plan. Medigap plans in Illinois, like those in the rest of the United States, don’t offer coverage for prescription drugs.
Types of Medigap plans in Illinois
Before you enroll in a Medigap plan in Illinois, take a look at the 10 standardized Medicare Supplement plans available in your state. Understand what each plan covers, and make an educated decision when choosing a Medigap plan. Plans E, H, I, and J are no longer offered.
Additionally, Medigap plans in Illinois have the following characteristics:
- Once you reach the out-of-pocket limits listed in the table above, Medicare Supplement plans K and L pay 100% of covered services for the remainder of the calendar year.
- Medicare Supplement Plan N pays 100% of the Medicare Part B coinsurance.
- Medicare Supplement Plan F offers a high-deductible version that requires beneficiaries to pay a certain out-of-pocket amount before the plan begins coverage.
- Medicare Supplement Plan N does not cover the $20 copayment on doctor visits and the $50 copayment on emergency room visits.
- Medicare Supplement Plan F is the most comprehensive plan, covering almost 100% of Medicare-associated costs, excluding the Medicare Part B premium.
Choosing a suitable Medigap plan in Illinois
As stated earlier, Medicare Supplement plans in Illinois with the same letter designation donâ€™t vary in coverage or benefits. However, each independent insurance company that offers Medicare Supplement plans can determine its own monthly premium structure. This means that if you live in Chicago, in Cook County, you may pay more or less than a resident of Springfield in Sangamon County for an identical Medicare Supplement plan. Knowing about the possible difference in costs, it may be smart to compare all Medicare Supplement plans available in your area, and then select a Medigap plan in Illinois based on your individual health and budget needs.
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