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Around 1 ½ million Illinois senior citizen residents use Medicare Health Insurance as their primary insurance company. Most understand that Medicare Part A & B will not pay for all the health costs. There are deductibles and copays among other things Medicare does not pay and many have to get additional coverage to improve their health care benefits. Most will choose Medicare supplement plan such as Medigap for Illinois.
One the best qualities of Medigap supplement insurance is that the benefits will stay the same each year as opposed to a Medicare Advantage Plan. With Part B deductibles typically increasing each year, this also mean Part F as well as Part C would also see increases in rates. Switching to a higher deductible Plan F or other cost sharing supplementary plans is choice some make to save money on monthly premium rates.
As in most states, Illinois supplements have standardized plans using letters A – N so that the difference you typically see with the different insurers would be the price. So shopping around to compare the difference in premiums if very important when trying to find the best Medigap Supplementary Plans to fit your needs.
Brief description of the types of plans
Medigap Plan A
Any insurance company that that sells Medicare Plans must also off Plan A. This is the most basic policy that covers the parts of Medicare Part A and Part B which the government doesn’t pay.
Medigap Plan C
Plan C will cover all that Medicare approves going up to the approved amount of the payment. So there are only 2 cases where Plan C will not cover what’s left of your medical charges after Medicare pays its share of the bill. First case is when Medicare did not approve the charge at all. The second case is when the healthcare provider has charged more than the amount Medicare approved. This is due to Plan C not covering Medicare’s Part B Excess Charges.
Medigap Plan F
The most popular of all supplement plans is Plan F. It will offer a comprehensive coverage for everything that the Original Medicare won’t cover provided the charge is approved. No co pays or deductibles as well as no out of pocket costs using Plan F. Basically if Medicare Part A & B only pay a penny on doctor or hospital charges then Plan F policy will cover the difference.
Medigap Plan G
Plan G will have almost the same amount of coverage as the Plan F. Difference being with Part B deductible. After the annual deductible for Medicare Part B has been met, the plan covers the coinsurance amount of medical services approved by Medicare. Generally, this would be 20 percent of the approved amount.
Medigap Plan K
Plan K will cover the cost sharing of Part B preventive services, then Part A hospital co-insurance. This features additional 365 days for hospital coverage. Plan K will also cover 50 percent of Part A & B blood deductibles or the Part B co-insurance, skilled nursing facilities co-insurance, and cost sharing that is associated with hospice benefits, as well as Part A hospital deductibles.
Medigap Plan N
Plan N benefits are similar to Plan D only it features a co-payment for doctor visits an emergency room visits. The co-pays are applied after the annual deductible has been met.
Illinois Medigap Supplementary Health Plans | Compare Medigap Plans | Medigap Open Enrollment Period