Medicare Supplement Plans in Georgia: A Comprehensive Guide
A Georgia Medicare Supplement plan, also known as Medigap, is an excellent way to fill the coverage gaps in Original Medicare, providing you with more comprehensive healthcare coverage and reducing your out-of-pocket expenses.
Learn how these plans work, the best companies in Georgia, see sample costs, and understand the benefits of Medicare Supplement plans in GA.
How Do Medicare Supplement Plans Work?
Medicare Supplement insurance is designed to work alongside your Original Medicare (Part A and Part B) coverage.
- These plans help cover costs that Original Medicare doesn’t, such as copayments, coinsurance, and deductibles.
- The coverage provided by these plans is standardized across all insurance companies, meaning Plan G from one company offers the same benefits as Plan G from another.
- When you have a Medicare Supplement plan, Medicare pays its share of the Medicare-approved amount for covered healthcare costs first, then your Medigap policy pays its share.
Tip: Medicare Supplement plans are also known as Medigap policies.
Unlike Original Medicare, which is provided by the federal government, Medicare Supplement plans are sold by private insurance companies.
There are ten standardized Medigap plans available in most states, including Georgia. These are labeled A, B, C, D, F, G, K, L, M, and N. Each plan offers a different level of coverage, allowing you to choose the one that best fits your needs and budget.
It’s important to note that Plan F and Plan C are no longer available to people who became eligible for Medicare on or after January 1, 2020.
How Much Do Medicare Supplement Plans in Georgia Cost?
On average, a Medicare Supplement plan in Georgia can cost anywhere from $70 to $300 or more per month, depending on various factors.
Your exact price will be based on your age, gender, zip code, tobacco use, and the specific plan you choose.
Below is a table with some sample monthly Medicare Supplement plan prices for a 65-year-old non-smoking female in Atlanta, GA (30301):
| Plan | Average Monthly Premium |
|---|---|
| Plan G | $120 – $150 |
| Plan N | $90 – $120 |
Best Medicare Supplement Insurance Companies in Georgia
Georgia’s Department of Insurance regulates Medicare Supplement insurance in the state. While the benefits of each lettered plan are standardized, the insurance companies offering these plans may vary in terms of price, customer service, and additional perks.
Here are some of the top-rated Medicare Supplement insurance companies in Georgia:
| Insurance Company | Top Attributes |
|---|---|
| Aetna | Easy application, good online portal experience |
| Anthem Blue Cross Blue Shield | Local, can be lower priced in some areas |
| Humana | Lowest rates of all top companies |
| Mutual of Omaha | Best customer service |
| United Healthcare (AARP) | Most popular nationwide |
When choosing a Medicare Supplement plan provider, consider factors such as the company’s financial strength, customer service ratings, and any additional benefits they may offer beyond the standard coverage.
Enrollment Periods for Medicare Supplement Plans in Georgia
Like most health insurance products, you can only enroll in Medicare Supplement plans during certain enrollment periods:
- Medigap Open Enrollment Period: This is a 6-month period that starts the month you’re 65 or older and enrolled in Medicare Part B. During this time, you have guaranteed issue rights, meaning insurance companies can’t use medical underwriting to deny you a policy or charge you more based on your health status.
- Trial Right for Medicare Advantage: If you joined a Medicare Advantage Plan when you first became eligible for Medicare and disenrolled within 12 months, you have guaranteed issue rights to purchase a Medicare Supplement plan.
- Plan Termination or Misconduct: If your previous Medigap policy, Medicare Advantage Plan, or PACE program ends its coverage or commits fraud, you have guaranteed issue rights for a new Medicare Supplement plan.
Know Your Rights
In Georgia, as in all states, insurance companies must provide a 30-day “free look” period for Medicare Supplement policies. This means you have 30 days to review your policy and if you’re not satisfied, you can cancel and receive a full refund.
How Stroman Insurance Can Help
As independent brokers specializing in Medicare Supplement plans, Stroman Insurance can help you navigate the complex world of Medicare and find the right plan for your needs and budget.
We work with multiple insurance companies and can provide unbiased comparisons to help you make an informed decision. Our services come at no additional cost to you, and the premiums you pay are the same whether you buy directly from an insurance company or through us.
Call us at (404) 281-4903 to speak with one of our experienced agents and explore your Medicare Supplement options in Georgia.
Remember, choosing the right Medicare Supplement plan can provide you with peace of mind and financial protection as you navigate your healthcare needs in retirement. Let us help you make the best choice for your unique situation.
