AARP Medicare Supplement Plans
The insurance plans that provide you coverage for supplemental expenses gives you a relief from paying heavy amount from your pocket throughout the year. Here, we will discuss the Medicare Supplement plans by AARP, and benefits that can be availed after purchasing this plan.
About AARP
A senior-focused insurance company, AARP has been offering medical insurance, life insurance, and financial advice to seniors for decades. Apart from these insurance policies, there are many other services that are personalized for seniors of the US. The company was previously famous caring about seniors the most but now they had branched their services and insurance policies that are for people of all age groups which include family plans as well. Moreover, they are now in a partnership with United Healthcare that will make them reach people in more areas and fulfill their medical needs.
Like all other insurance companies that are selling Medicare plans, AARP has also set their own price for Supplement plans and other Medicare plans. To know the latest rate, you can visit our website where you can also get a list of other insurers who are selling these plans. Moreover, you can also compare the rates with the comparison tool on our website to know which one would be a perfect fit for you in terms of price. You just need to enter your zip code and with a single click, you will get a list of insurers who are selling different plans in your area. The comparison is free and you can use it as many times as you want to get the latest rates.
There is a good lineup of Supplement plans by AARP. Although, all plans are not available for everyone but the popular ones that offer maximum benefits to the seniors are usually included in the lineup. First, search for the plan on the website that meets most of your medical needs and see whether AARP is offering that plan or not and what is the price it is charging for it.
Don’t panic after seeing the rates of AARP Supplement plans, as you may find them slightly higher than other insurance providers because the increase in rate is due of their goodwill and customer service. AARP never leaves its members alone and offers many exciting perks with their plan for which they don’t charge any additional amount. These perks add value to the Supplement plans and give you much more than just a base insurance coverage.
Coverage of Medicare Supplement Plan
Medicare Supplement plan needs collaboration of the Original Medicare plan and it won’t work without it. The activation of the Original Medicare plan is necessary before you start getting coverage from the Medicare Supplement plan. When both of these plans are active, the Supplement plan will fill the coverage gap which is left by the Original Medicare plan. The coverage gap depends on the type of Supplement plan you have chosen. It will cover most or all of these Supplemental expenses:
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part A copayment
- Medicare Part B copayment
- Medicare Part B excess charges
- Medicare Part A hospice coinsurance
- Skilled nursing care coinsurance
- Foreign travel exchange costs (as much as 80% per incident and up to $50,000 over your lifetime)
- The first three pints of blood that you use each year
There are many types of Supplement plans, and each of them covers different supplemental expenses mentioned above. If you want to get full coverage of the items from the above list, then Plan F would be the best choice as it covers all the items of the list. But unfortunately, it is a discontinued plan and is not available for new subscription. However, it is still available for renewal and the old subscribers can still avail of the benefits from this discontinued Plan F.
Other than Plan F, another Supplement Plan that offers maximum coverage is Medicare Supplement Plan G. This plan is known to provide high coverage for the seniors and covers the majority of items mentioned in the list. The only item that Plan G doesn’t cover is the deductible of Medicare Part B, which is just $198 only for the whole year.
Another high coverage option is Plan N, which offers coverage for somewhat the same items. While comparing Plan N with Plan G, the items which are not covered by Plan N are the excess charges of Part B and some copayment of Part B. However, you will get coverage for the rest of the supplemental expenses.
How to get AARP Supplement plan?
As we mentioned before also that an active Original Medicare plan is required to make your supplemental plan valid. These plans work with collaborations. You can purchase Original Medicare and start getting its coverage but you won’t be able to avail the benefits from any of the Supplement plans unless you hold an Original Medicare plan. Purchasing both plans means that you have to pay the annual deductibles for the Original Medicare plan as well as Supplement Medicare Plan but some Supplement plans might cover some of the cost of deductibles of the Original Medicare plan.
Anyone who meets the eligibility requirement of the Medicare Supplement can subscribe to this plan. The eligibility criteria include:
- Age 65+ or above
- An active Original Medicare
- Be a US citizen
If you have missed the chance to get enrolled in Medicare plan at your 65th birthday, then the next year you have to pay a little higher rate, and this rate increase with each passing year. It makes no sense to waste your time when eventually you have to subscribe to any of these plans.
You may not want to sign up for Medicare Supplement plan right away but you can always look into other options like Medicare Advantage plan. Start making the comparison and see what coverage they are offering to their subscribers. For that, you can always use our website or call our expert insurance agents.
This plan also covers foreign travel exchange. It pays up to 80% per incident. It also handles nursing care coinsurance and the first three bags of blood that you may need for the year if you have to undergo medical surgery.
Plan N: Just like Plan G, Plan N is a high coverage plan. But it cuts back some coverage offered by Plan G. With this plan, you will receive nearly the same coverage as Plan G but you have to pay for the excess charges of Part B. You also have to pay for Part B copayments.
Other than those things mentioned, you will have the same coverage. But the price difference can be significant, which averages $100 per month. That’s why it is an economical option if you want a high coverage plan but don’t want to pay more.
Getting AARP Medicare Supplement Plans
If you wish to obtain one of these plans, then you must first become eligible for Medicare. It means that you need to be at least 65 years old and a US citizen. Once you have Medicare, you can purchase one of the Supplement plans.
When it comes to enrollment, your first chance is before turning 65. That is, you should try signing up three months before your 65th birthday or three months after the said birthday.
You must take advantage of this time because you are guaranteed to obtain whatever Supplement plan you wish to get. Insurance companies can’t deny you coverage.
Furthermore, applying during this period entitles you to receive the best rates for the Supplement plans. In that case, even if you have a pre-existing condition, AARP won’t use it as a factor in determining the rate for your Supplement plan.
However, if you missed that chance, then you will end up paying more for the Supplement plan. Moreover, AARP may reject your application because of your pre-existing condition. If AARP thinks that you are too risky to insure, it will give you higher rates because it is concerned that you will cost them a lot of money.
That’s why you must sign up during this period when you become first eligible. You should consider getting one even if you don’t need a powerful plan. Keep in mind that you can change your plan later on whenever necessary.
You can save a lot of money if you sign up earlier. Apart from getting lower rates, you also receive smaller price increases as a loyal member. You will get a lower monthly price than new subscribers and that will help you lower your overall expenses each month.
As soon as you become eligible, you should consider signing up for a Medicare Supplement as you would never know when you need emergency care. If you are planning to obtain an AARP Medicare Supplement, please contact our health insurance experts to further assist you.
