Medicare Supplement Plans

Medicare Supplement Plans are a safety net for when you need extra help with paying for Medicare-related expenses. There are important details that you should know, which include what you have to have in order to join and keep them.

Interested in learning more?

What you need beforehand

Before you can join a Medicare Supplement plan, you need to be signed up for Medicare Part A and Part B. A Medicare Supplement plan isn’t something you can have by itself, nor is it something you can use as a way to get rid of the Medicare policy you bought.

You also need more than Medicare Part A. You can have Medicare Part A and D, and you still wouldn’t be able to get it. And you wouldn’t be able to get it at all if you have Medicare Advantage (Part C). Without Medicare Part B, your enrollment is impossible.

Also be aware of the time – your enrollment is restricted to a six-month period beginning from the time you’re 65 and enrolled in Medicare Part B. Once this period is over, your chances to get it may be over as well.

You need to enroll with a sense of urgency.

Things to consider

As mentioned earlier, you cannot have Medicare Advantage in addition to a Medicare Supplement plan. Not only is it impossible – it’s illegal for your insurer to sell you a Medicare Advantage policy while you’re enrolled in a Medicare Supplement plan.

Medicare Part D also clashes with Medicare Supplement plans. Unlike Medicare Advantage, it is possible to have Medicare Part D and a Medicare Supplement plan at the same time. You just can’t have prescription drug coverage from those two sources at once. If your Medicare Supplement policy already includes drug coverage and you’re looking to enroll in Medicare Part D, you will need to alert your insurer, as this will enable them to adjust the coverage so that your only prescription drug coverage is through your Medicare Part D policy.

Also consider your current financial situation. If your medical needs do not warrant additional coverage, it would not be the best idea to join a more costly Medicare Supplement plan that covers most of the expense types. This would ultimately result in a loss.

Consider your wants as well. Your goal may be to have a simple Medicare Supplement plan that’s a lower cost, with enough to cover a few substantial costs like the Part A deductible and any blood used for transfusions. This is a way to save more in the end if you do not have a serious medical condition.

We know Medicare Supplements

Medicare Supplements are among many of the Medicare-related policies we offer. Medicare With Jake is an agency based in Wichita, Kansas and it gives a caliber of service that only a dedicated professional can provide. This is a constantly evolving program, with rule changes and new options that come out every year.