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Best Medicare Supplement Plans in Illinois – F, G & N Benefits

The best Medicare Supplement insurance plans in Illinois cover Medicare-approved, out-of-pocket expenses that you are expected to pay when you are enrolled in Medicare Part A and Part B. There are 10 Medicare Supplement plans, each designated by a different letter: A, B, C, D, F, G, K, L, M, and N. Depending on the plan you choose, some or all of these expenses are covered:

•    Copayments.

•    Deductibles.

•    Coinsurance.

Unlike Original Medicare insurance that is underwritten by the federal government, Medicare Supplement plans are sold by private insurance companies. The Illinois Department of Insurance regulates these companies and stipulates which Medicare Supplement plans in Illinois are offered.

Because these plans fill in the gaps in coverage of Original Medicare, they are also known as Medigap plans. Each company must offer the same benefits for a given plan. However, companies can set their own rates for a plan, so it pays to compare.

Payment for Medicare Supplement insurance plans is sent to the insurance company that issues the policy. In contrast, there is no Medicare insurance company that collects payments for enrollment in Medicare Part B. Instead, these payments go to the federal government.

Medicare Supplement plans can be used with any doctor or healthcare institution in the U.S. that accepts Original Medicare. There are no preferred providers or geographical restrictions.

Best Types of Medicare Supplement Plans in Illinois

Nationwide, there are 10 Medicare Supplement insurance plans available to Medicare beneficiaries, and all 10 Medigap plans are offered in Illinois. Each insurance company must offer the same benefits for a particular plan. However, the costs of premiums vary.

You may wonder how to find the best Medicare Supplement insurance plan in Illinois. The answer is that each plan offers different benefits, so the best plan for you is the one that best suits your needs. For example, Plan F, the most popular, pays all out-of-pocket expenses for approved Medicare procedures, doctor’s visits and hospital stays. In addition, it covers 80 percent of approved health care costs incurred when you are traveling abroad.

If you are confused or need help, call your state health insurance assistance program to discuss your needs. They can provide a list of authorized insurance companies that offer Medigap plans in Illinois. Each insurance company will display the benefits of the plans and their rates. This will help you find the best Medicare Supplement plan in Illinois based on your needs.

Benefits of Medicare Supplement Plan F in Illinois:

As the first most popular Illinois Medicare Supplement, Plan F deserves some consideration. It will help you fully maximize your Medicare coverage. Of all of the Medigap insurance plan options, Medigap Plan F offers the most coverage, including:

  • Part A hospital coinsurance
  • Hospital costs up to 365 days after benefits through Original Medicare are exhausted
  • Part A hospice care copays or coinsurance
  • Part A deductible
  • Part B deductible
  • Part B preventive office visit coinsurance
  • Part B coinsurance or copays
  • Excess charges for Medicare Part B
  • First three pints of blood needed for a medical procedure
  • Coinsurance for care in a skilled nursing facility
  • Limited foreign travel emergency care

People like Plan F because they can choose a standard or high deductible policy, which is not the case with other standardized Medicare Supplement plans. Many also feel better because of all of this added coverage. Even though monthly premiums are on the higher end when compared to other Illinois Medicare Supplement plans, Chicago residents and others in Illinois often like the predictable out of pocket costs.

Benefits of Medicare Supplement Plan G in Illinois:

Medigap Plan G in Illinois is the second most popular plan for people who want to enhance their Medicare benefits. If you don’t mind paying the Medicare Part B deductible yourself and if you’d like cheaper monthly premiums, it’s a plan worth considering.

  • Does NOT cover Medicare Part B deductible

Benefits of Medicare Supplement Plan N in Illinois:

Medigap Plan N in Illinois is the third most popular of the Medicare plans that are available for Illinois residents who are enrolled in the Medicare program.

It has more coverage & benefits than simple plans like Plan A but is cheaper than Plan G or Plan F. It does require some cost sharing, but top companies like Blue Cross Blue Shield often offer very reasonable monthly premiums for this plan.

  • Does NOT cover Part B Deductible
  • Does NOT cover Excess Charges for Part B
  • Requires $20 copay for office visits
  • Requires $50 copay for emergency room visits

Medigap Plans in Illinois: When Can I Enroll?

Most people enroll in Medicare Supplement insurance plans when they first enroll in Medicare Part B through the federal Medicare program. There is a 6-month window of time to enroll in starting at the beginning of the month that you turn 65. This is called the Medigap open enrollment period. During this time, you can select any plan you want with no medical underwriting, so you have guaranteed issue rights. Even if you have a pre-existing condition, companies are not allowed to charge higher rates during open enrollment. This is the most advantageous time to find the best Medicare Supplement insurance plan in Illinois and enjoy lower rates.

After the initial enrollment period, a company can charge higher rates, refuse to provide coverage or require medical underwriting.

Once you enroll in a plan, you continue to be covered as long as you pay the premiums. Medigap policies are guaranteed renewable regardless of your health.

Medicare Supplement Plans in Illinois: Enrollment Statistics

As of 2018, the population of Illinois was 12,741,080. Approximately 15.2 percent of the population is over age 65. In 2016, the state ranked seventh in the nation in the number of Medicare beneficiaries, at 2,108,645, or 16 percent of the state population. Approximately 86 percent were enrolled because of age, and 14 percent were enrolled because of disabilities. Approximately 36 percent of all Medicare beneficiaries in Illinois, or 748,367 people, were enrolled in Medigap policies.

Nationwide, Illinois ranked seventh in total Medicare spending, at $22,520 million. The state ranked 14th in spending per Medicare beneficiary, at $11,116.

In 2015, the five most populous counties in Illinois and their inhabitants were:

•    Cook: 5,250,510

•    DuPage: 934,100

•    Lake: 701,710

•    Will: 690,490

•    Kane:    531,900

In 2017, the five counties with the highest number of enrollees with Original Medicare insurance were:

•    Cook County: 590,171

•    DuPage County: 118,056

•    Lake County: 90,264

•    Will County: 75,918

•    Kane County: 56,474

The most popular Medigap plans in Illinois are Plans F, G, N, D, and C. The number of enrollees in each plan are as follows:

•    Plan F: 513,440

•    Plan G: 102,874

•    Plan N: 47,658

•    Plan D: 23,021

•    Plan C: 21,807

Illinois Medicare Resources

Here are a few helpful links about Medicare, Medicaid and Medicare Supplement plans in Illinois to get you started:

https://www2.illinois.gov/aging/ship/Pages/MedicareRelatedInfo.aspx

https://www2.illinois.gov/aging/Resources/Pages/directory-main.aspx

You should also know that our insurance agents are on standby to talk to you about your options. Whether you’re interested in an HMO or PPO Medicare Advantage plan (Medicare Part C) or if you’re sold on the idea of buying a Supplement to use with Medicare Parts A and B, we can help. We even help seniors in the United States learn more about prescription drug coverage through a Medicare Part D prescription drug plan.

We are your number one resource for making the right decisions for your healthcare and choosing the right insurance agency, so give us a call today.

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