In the first part we discussed what is covered under Medigap plans in New Hampshire state and the best time for seniors to enroll in one of these plans. In the second part, we’ll discuss the cost of Medigap Plans in New Hampshire along with other important factors you must remember before enrollment.
Cost of Medigap plans: New Hampshire
Premiums for each of the plans are fixed by the insurance agencies themselves, as opposed to premiums for Medicare Part A & Part B that are decided by the government. As a result, premiums tend to vary significantly from one provider to the other.
Plans may be priced based on any of the 3 ways:
Issue age rated: Here premiums are decided by taking into account the age of the enrollee when he/she initiall purchases the plan.
Community rated: Here premiums stay unchanged for everyone who purchases the coverage.
Attained-age rated: Here, premiums are not that high initially but they can increase as the participant hits specific age limits.
Medigap Plans New Hampshire: Other Important Factors
Congress made considerable modifications to Medicare policy in the year 2015. One among these directly influences Supplemental plans in the New Hampshire state.
Starting from Jan 1, 2020, insurance companies will no longer be able to sell Medicare Supplement plans which cover deductibles for Medicare Part B. As a result, 2 of the major Medigap plans, Plan F & C will be terminated.
In case you are considering any of these coverages, you must purchase them the moment you become Medicare eligible up till 30th Dec 2019 so as to continue enjoying your coverage even after new rules become applicable.
Get a 2019 advantage plan at https://www.medicareadvantageplans2019.org
Remember that Medigap plans do not cover out of pocket expenses for Medicare Part D prescription plan (including coinsurance, copayments & prescription drugs for Part D). Medigap plans also won’t offer any coverage for Medicare Advantage (MA) plans.
We hope you enjoyed our 2 part series on Medigap Plans in New Hampshire state. Be sure to share them with your friends & family members.