Frequently Asked Questions

The federal Medicare program pays most medical expenses for people 65 or older or for individuals under 65 receiving social security disability benefits. However, Medicare does not pay all expenses. As a result, you may want to buy a Medicare supplement policy that helps pay for certain expenses, including deductibles not covered by Medicare.

If you are 65 or older and elect coverage under Medicare Part B, either due to age or disability, you have a six-month open enrollment for a Medicare supplement policy, which guarantees you coverage with a plan and company of your choice. You may choose from a list of standardized plans – listed as A through L. If you do not purchase a plan within your six-month open enrollment, any company you apply to can deny coverage based on your health conditions. There are some limited additional open enrollment periods available to some persons disenrolling from a Medicare health maintenance organization (HMO).

Medicare supplement policies may not include prescription drug coverage. Those who currently have a policy with prescription drug coverage may opt to keep that coverage or switch to the new Medicare prescription drug plans.

Medicare Advantage plans (formerly known as Medicare+Choice plans) are private managed care plans that provide the standard Medicare benefits, plus additional supplemental benefits for a monthly fee. These plans may include prescription drug coverage. Medicare Advantage participants may even receive a subsidy for their prescription drug benefits in most cases.

Medicare select plans provide supplemental benefits through a network of providers similar to a Preferred Provider Organization (PPO). If the participant received care for a provider under contract with the insurer, the cost will be lower.