Medicare Supplement Plans in Rhode Island
Medicare Supplement insurance plans in Rhode Island, also known as Medigap, are provided by private Medicare-approved insurance companies. These plans cover the parts that Original Medicare doesn’t. This may include copays, coinsurance, excess charges, and emergency medical expenses incurred when traveling internationally.
Regarding Medicare Supplement plans, pricing and availability are determined by various elements such as age, gender, insurance provider, and residing state. In Rhode Island, these policies are managed through state laws and an insurance commissioner.
Before deciding on a Medigap plan, Rhode Island residents should carefully consider cost and availability to make the best decision.
Key Takeaways:
- There are ten Medigap plans to pick from.
- In Rhode Island, Medigap Plan G is the most popular plan.
- The Plan G premium costs range from $128 to $382 monthly.
- Cheapest Plan G rate: $128 with Mutual of Omaha.
What’s the Most Popular Rhode Island Medigap Plan in 2023?
Medigap Plan F and Plan G are extremely popular options in Rhode Island.
However, some changes implemented in 2020 have impacted the availability of these plans for new Medicare recipients. Plan F, which used to have the highest enrollment with over 18,000 beneficiaries, is no longer accessible for new enrollees.
Similarly, Plan C, closely followed by over 16,400 enrollees, is also off the table for new beneficiaries. It’s important to note that new Medicare recipients cannot purchase either Plan F or Plan C.
Fortunately, Plan G has emerged as the preferred choice among new beneficiaries, attracting over 6,190 enrollees. With 5,170 enrollees, Plan N closely trails behind in popularity. Less popular options include Plan K with 135 enrollees, Plan L with 100 enrollees, and Plan A with 576.
Who Offers the Cheapest Rates for Medigap in Rhode Island?
After reviewing key factors, we found that United of Omaha Life Insurance (Mutual of Omaha) has the lowest prices for Plan G in Rhode Island.
While their Medigap plans are affordable, it’s important to consider various factors before choosing the best Medicare Supplement company. Every provider has its pros and cons, so make sure to assess and compare coverage options carefully.
Below is a chart comparing Mutual of Omaha with other Medicare Supplement providers in Rhode Island for premium examples and ratings to help you make an informed decision.
| Company | AM Best Rating | Plan G Rates | Plan A Rates | HDF Rates | Plan F Rates |
|---|---|---|---|---|---|
| United of Omaha Life Insurance | A+ | $128.00 | $125.44 | n/a | $174.27 |
| Manhattan Life Assurance Company | B++ | $135.75 | $143.75 | n/a | $165.00 |
| Humana Insurance Company | A- | $136.85 | $107.70 | $45.80 | $178.33 |
| Ace Property and Casualty Insurance Company | A++ | $140.33 | $137.50 | n/a | $157.75 |
| Cigna Health & Life Insurance Company | A | $140.65 | $145.66 | $48.58 | $142.99 |
| AFLAC | A+ | $141.66 | $163.05 | n/a | $158.34 |
| Aetna Health and Life Insurance Company | A | $151.77 | $133.45 | n/a | $162.02 |
| United American Insurance Company | A | $203.00 | $125.00 | $30.00 | $244.00 |
Medigap Plan Pricing in Rhode Island
Discover the top rates for Medicare Supplement plans:
- Plan G: $128 with Mutual of Omaha.
- Plan N: $107.70 with Humana Insurance Company.
- High Deductible Plan G: $30 with United American Insurance Company.
- Plan F: $142.99 with Cigna Health & Life Insurance Company.
Your monthly premium may vary depending on your insurer and their rating protocols.
Does Medigap Cover Everything?
While Medigap policies significantly help cover healthcare costs that Original Medicare doesn’t, it’s crucial to remember that they do not cover everything. For instance, Medigap does not pay for long-term care, private-duty nursing, dental care, vision care, hearing aids, eyeglasses, or prescription drugs.
Furthermore, Medigap policies generally do not cover medical care when traveling outside the United States. It’s always recommended to carefully review any policy for specific details about what is and isn’t covered.
Choosing a Medigap Plan: Key Considerations
When selecting a Medigap plan, important factors to keep in mind include evaluating medical needs, budget, and plan benefits. Assessing current and potential future health conditions helps determine the most suitable coverage.
Financial aspects are significant, too. Consider monthly premiums (in addition to Part B premium), deductibles, out-of-pocket limits, and even insurance provider ratings.
Equally important is assessing plan benefits. While all plans offer basic coverage for Part A and Part B copays, coinsurance, three pints of blood, and hospice care, additional benefits may vary. Some plans may offer extras like foreign travel emergency coverage or access to discounted providers for hearing aids or eyeglasses. Note that not all plans include these benefits.
For a comprehensive analysis of available plans, review our Medicare Supplement Plans Comparison Chart.
Here to Help
At our company, we have a specialization in guiding Medicare beneficiaries through their insurance options. Our dedicated team of experts works closely with top-rated Medigap carriers across the nation to ensure that you receive exceptional service and personalized solutions tailored to your needs.
Whether you have questions, need assistance, or want to explore your options further, we are here to help.
Give us a call today or conveniently request a quote online.
Frequently Asked Questions:
The monthly premium for a Medigap plan can range from $30-$382.
Mutual of Omaha, Cigna, and Humana are all excellent choices. Each one offers a wide range of benefits and coverage options that make it easy to find the right plan.
The monthly premium for Plan G in Rhode Island ranges from $128-$382.
Article Resources:
- Types of Medigap Plans
- How Much Do Medigap Plans Cost?
- When Can I Apply for a Medicare Supplement Plan?
- How Do I Enroll in a Medigap Plan?
- When Can I Change Medigap Plans?
- Can I Be Denied Medigap Coverage?
- CMS Medicare Services
- Rhode Island Senior Health Insurance Program
- Rhode Island Medicare Supplement Plan Rates
Disclaimer:
Average quotes are for sample purposes only. Actual premiums are based on several factors, including health conditions, age, location, tobacco status, gender, and insurance provider.
