Best Medicare Supplement Plans in South Carolina – F, G & N Benefits
You may want to review the benefits offered by the best Medicare Supplement insurance plans in South Carolina if you are a resident and are enrolled in Medicare Part A and Medicare Part B. Medigap policies cover the gaps in coverage that Original Medicare insurance does not pay. Out-of-pocket expenses include copayments, deductibles, and coinsurance. There are 10 Medicare Supplement plans in South Carolina to choose from. Each provides a different level of coverage — in addition to your standard Medicare benefits — to help you save on healthcare costs.
Many insurance companies sell Medigap plans in South Carolina. As you compare plans, keep in mind that each company must offer the same benefits for a given plan. However, companies can set their own rates, so it pays to compare premiums to find the best Medicare Supplement insurance plan in South Carolina that suits your budget and healthcare needs.
Best Types of Medicare Supplement Plans in South Carolina
The federal government authorizes 10 Medicare Supplement insurance plans to be sold in the U.S., and South Carolina offers all 10. Each of the Medigap plans in South Carolina are sold by private insurance companies that must offer standard benefits for each policy. If you are interested in Medigap Plan C, for example, each Medicare insurance company must provide the same minimum benefits for the plan. Not all companies sell all 10 plans.
In 2018, 55 companies sold Medigap policies in the state. Each company sets its own rates for each plan. Premiums are generally rated in South Carolina as either attained-age or issue-age.
Attained-age premiums increase in price as you age. Although rates may be low when you buy a policy at age 65, the premiums get more expensive as you grow older. Issue-age Medicare Supplement plans are priced according to how old you are when you first buy the plan. An insurance company cannot raise the price as you age. Rates for any plan may vary due to gender, where you live, if you smoke and other factors.
Although federal law allows Medicare Supplement insurance plans to be sold to Medicare beneficiaries under 65 with disabilities, each state decides whether to offer this coverage. Two Medigap policies, Plans A and C, are available through the South Carolina Health Insurance Pool for people under 65 with disabilities. When people with disabilities turn 65, they can buy any policy during their six-month open enrollment period.
To select the best Medicare Supplement plan in South Carolina, take time to examine the stability of the insurance company. The South Carolina Department of Insurance can help you evaluate a company’s reliability and confirm that the company is licensed in the state. All Medicare beneficiaries should do this so they can be sure that they’re choosing a health insurance company that they can trust and count on.
Benefits of Medicare Supplement Plan F in South Carolina:
The most popular Medicare Supplement is Medigap Plan F in South Carolina. In addition to the basic Medicare benefits, you can save on medical expenses in many ways with one of these plans.
Monthly premiums are often higher for this level of Medicare coverage, but many people find that it’s worth it so that they can enjoy a robust plan with predictable costs. These are some of the things that these South Carolina Medicare Supplement plans cover:
- 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
If you’d like, you can also explore high deductible Plan F instead of a standard Plan F policy.
Whether you pick Plan F or another plan, don’t worry about comparing plans from company to company. Each company that offers Medicare Supplement plans must offer a specific set of benefits for each plan. This means that Plan F is the same whether you purchase it from Blue Cross Blue Shield, United Healthcare or another company. This makes it easy to compare pricing when purchasing a plan to help with your healthcare costs.
Benefits of Medicare Supplement Plan G in South Carolina:
If you’re looking for one of the more robust Medicare Supplement plan options but if you’re hoping to keep your insurance policy premiums reasonable, Medigap Plan G in South Carolina deserves a second look. It’ll cover almost all of the benefits and out of pocket costs that are covered by Plan F. However, monthly premiums will typically be cheaper for Plan G:
- Does NOT cover Medicare Part B deductible
Benefits of Medicare Supplement Plan N in South Carolina:
For a cheaper plan that requires some cost-sharing for benefits to keep rates low, consider Medigap Plan N in South Carolina. This is a good Supplement for the federal Medicare program if you don’t mind chipping in on costs sometimes:
- 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
Medicare Supplement Insurance Plans in South Carolina: When Can I Enroll?
The best time to enroll in a Medicare Supplement plan is during your six-month Medigap open enrollment period. This occurs after you turn 65 and enroll in Medicare Part B. During this time, you can choose the best Medicare Supplement insurance plan in South Carolina that meets your needs.
During this initial enrollment period, a company cannot refuse to sell you a policy or charge more for preexisting health conditions. You may have guaranteed issue rights in other situations. A company can charge different rates and offer discounts for the same policy based on several factors, including gender or if you do not smoke.
If you do not buy a Medigap policy during your initial enrollment period or a period of guaranteed rights, a company can refuse to sell a policy, charge more or impose medical underwriting.
Also, be aware that you’re probably going to need to talk to an insurance agent about signing up for one of the prescription drug plans. Although these plans are sometimes included with Medicare Advantage plans, they are not included with Supplements. Medicare Part D coverage will have to be purchased separately, and it’ll help you save on medication and avoid getting penalized later for not having this coverage.
Enrollment Statistics for Medicare Supplement Plans in South Carolina
In 2019, South Carolina’s population was 5,153,463. Approximately 20 percent of the people were 65 or older. The number of residents in the five most populous counties in the state in 2019 were:
• Greenville 506,837
• Richland 411,592
• Charleston 401,438
• Horry 333,268
• Spartanburg 306,854
In 2018, there were 1,051,955 Medicare beneficiaries in the state. Approximately 82 percent were enrolled because of age and 18 percent because of disabilities prior to age 65. In 2014, South Carolina ranked 25th in spending per beneficiary, at $10,298 per enrollee.
In 2016, approximately 36.6 percent of those with Original Medicare insurance in South Carolina had Medigap policies. The most popular Medigap plans in South Carolina and number of enrollees were:
• Plan F 149,522
• Plan G 37,626
• Plan N 21,689
• Plan C 7,285
• Plan A 3,904
Each Medicare Supplement plan in South Carolina offers specific benefits and costs a different amount. To find the best plan for you, you must evaluate your current and projected healthcare needs and budget.
Helpful South Carolina Medicare Resources
There are a lot of great health insurance resources that can help you learn more about Medicare benefits and Medicare plans. Check out the resources below to learn more about how to get more out of the federal Medicare program.
Also, feel free to give us a call; we’ll tell you more about South Carolina Medicare Supplement plans and will help you save a ton of money on your healthcare costs!
The Department of Insurance issues annual guides and information about Medicare Supplement insurance plans in South Carolina, from Columbia to other areas of the state:
https://www.doi.sc.gov/medigap
https://www.doi.sc.gov/639/Medicare-Supplement-Insurance
The Department on Aging provides support for older adults:
The State Health Insurance Assistance Program helps people understand Medicare Supplement plans:
https://aging.sc.gov/programs-initiatives/medicare-and-medicare-fraud
The Centers for Medicare and Medicaid Services (CMS) offers helpful information about Medicare and Medicaid.
The Medicare.gov website is the official site for information about Medicare.
Related Topics for Comparing Medicare Supplement Companies and Plans in South Carolina
My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nations top rated carriers such as Aetna, Cigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.