Medicare Supplement Plans in Vermont
Medicare Supplement plans in Vermont are offered by private insurance companies that Medicare has approved. These policies will help fill the gaps in Original Medicare – like copays and coinsurance – but they may also safeguard you against excess charges and medical expenses incurred while traveling abroad.
The affordability and availability of Medigap policies vary based on age, gender, insurance provider, and state of residence. In Vermont, these plans are monitored by an insurance commissioner and governed by rules set in place at the state level.
To identify an affordable Medigap plan in Vermont, it is essential to consider the cost and access of each available option.
Key Takeaways:
- You have ten Medigap plans to pick from.
- Medigap Plan G is the most popular in Vermont.
- Plan G premiums range from $156 to $382 monthly.
- Aflac offers Plan G at the most affordable rate of $156.82 per month.
What’s the Most Popular Vermont Medigap Plan in 2023?
Medigap Plan F and Plan G stand out as the top choices among Vermont residents.
Starting in 2020, there was a significant change for new Medicare enrollees in Vermont. It is no longer possible for them to enroll in Plan F, which previously had the highest number of beneficiaries, with over 17,300 individuals.
Furthermore, Plan C, which had more than 9,900 enrollees, cannot be selected by new beneficiaries. It is worth noting that neither Plan F nor Plan C are available for purchase by new Medicare recipients.
Instead, the newly popular options are Plan G with 4,169 enrollees and Plan N with 12,260 enrollees.
Less popular plan options include:
- Plan K – 323 enrollees
- Plan L – 139 enrollees
- Plan A – 899 enrollees
To get a complete breakdown of the available plans, check out our Medicare Supplement Plans Comparison Chart.
Who Offers the Cheapest Medigap Rates in Vermont?
We have determined that Aflac Insurance Company offers the most competitive prices for Plan G in Vermont. While their Medigap plans are affordable, it is crucial to consider various factors before selecting a Medicare Supplement company.
It is important to recognize that each provider has its own set of advantages and disadvantages. To assist you in making an informed decision, we have included a chart below that showcases premium examples and ratings for Aflac and other Medicare Supplement providers in Vermont.
| Company | AM Best Rating | Plan G Rates | Plan A Rates | Plan L Rates | Plan F Rates |
|---|---|---|---|---|---|
| AFLAC | A+ | $156.82 | $154.33 | n/a | $203.50 |
| Cigna Health & Life Insurance Company | A | $162.98 | $114.78 | n/a | $222.69 |
| United American Insurance Company | A | $205.00 | $147.00 | n/a | $267.00 |
| Humana Insurance Company | A- | $250.45 | $158.27 | $147.94 | $256.85 |
| Mutual of Omaha Insurance Company | A+ | $343.01 | $187.53 | n/a | $378.36 |
| Continental Life Insurance Company of Brentwood, Tennessee (Aetna) | A | n/a | $139.53 | n/a | $165.02 |
How Much Do Medigap Plans Cost in Vermont?
Aflac Insurance Company provides the most competitively priced Plan G, starting at $156.82 monthly. For Medigap Plan A, Cigna Health & Life Insurance Company offers the lowest rate at $114.78.
Humana Insurance Company offers Plan L at $147.94 per month, and Aetna offers the lowest Plan F rate at $165.02 monthly.
Your premium is calculated based on factors including age, zip code, tobacco status, and insurance provider. These variables determine the actual monthly cost of your Medigap plan.
Will Medigap Pay For Nursing Home Care?
Medigap, while beneficial for covering many healthcare costs, typically does not pay for nursing home care. Medigap policies generally do not cover long-term or custodial care services, which nursing homes commonly provide. This type of care includes routine daily activities such as bathing, dressing, and eating.
However, it’s essential to consult with your policy provider to understand the specifics of your Medigap plan, as coverage can vary.
Can I Be Denied Medicare Supplement Insurance?
You can be denied Medicare Supplement Insurance if you apply outside your Open Enrollment Period. During this period, you have a guaranteed issue right, meaning the insurance company cannot refuse your application based on any pre-existing conditions.
However, the insurance company can use medical underwriting once this period is over. They can review your medical history, and based on their evaluation, they may either deny your application or charge higher premiums.
Nonetheless, there are situations, referred to as “guaranteed issue rights,” where an insurance company is still obligated to sell you a Medigap policy, even outside the open enrollment period.
Next Steps
We specialize in guiding Medicare beneficiaries through their Medicare insurance options. We work with some of the nation’s top-rated Medigap carriers to ensure you get the best possible service.
You can sign up for a Medigap plan by contacting one of our agents and ensuring you’re in your Open Enrollment Period or have guaranteed issue rights.
Call us today to learn more or request a quote online.
Frequently Asked Questions:
Vermont’s average premiums for Medicare Supplement plans range from $50-$382 per month. The cost of Medicare Supplement plans will vary depending on the plan type, area, and other factors.
Aflac, Cigna, and Aetna offer competitive plans and have a wide range of coverage options.
Medicare Plan G in Vermont can generally cost $156-$382 per month for those eligible for Medicare.
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
- Vermont Medicare Supplement Rates Chart
- Vermont Health Insurance Assistance Program
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.
