Best Medicare Supplement Plans in Wyoming – F, G & N Benefits
If you are newly enrolled in Medicare Part A and Part B, you may be wondering how the best Medicare Supplement insurance plans in Wyoming can help with out-of-pocket Medicare expenses. Medicare Supplement plans are also known as Medigap policies because they cover gaps in coverage that Medicare does not pay. There are four areas of expenses that Original Medicare insurance does not cover:
• Copayments and coinsurance.
• Deductibles applying to Medicare Part A and Part B.
• Costs that exceed Medicare’s approved charges.
• Specific services or supplies not covered under Medicare.
Each of the 10 Medicare Supplement insurance plans in Wyoming offers different levels of coverage. There is not a “best” plan. To find the best Medicare Supplement plan in Wyoming that suits your needs, carefully examine the status of your health, your budget, and your long-term coverage needs.
If you need help in understanding the benefits offered by each of the Medigap plans in Wyoming, volunteers at the Wyoming Senior Citizens Agency can explain what each plan offers. You should note that plans are standardized. For example, the benefits offered for Plan A will be the same no matter which insurance company sells it. However, a company can charge whatever rates it wants for a plan, so it pays to compare premium rates.
Best Types of Medicare Supplement Plans in Wyoming
The federal government authorizes 10 Medigap policies to be sold in the U.S., and all 10 are sold in Wyoming. Each lettered policy offers a different set of benefits. Plan F, the most popular, covers all out-of-pocket expenses not covered by Original Medicare insurance as well as 80 percent of allowable medical expenses incurred while traveling abroad. Plan A offers the least benefits. When you compare plans, remember that they are standardized. The same minimum benefits must be offered for a plan no matter which Medicare insurance company sells it. However, rates may vary for the same plan.
There were 27 companies selling Medicare Supplement insurance plans in Wyoming in 2018 to people aged 65 and older. Not all companies sell all 10 plans. Only two companies sell Medicare Supplement plans to people younger than 65 who are disabled and eligible for Medicare.
Medigap plans in Wyoming are rated as either age-attained or issue-age. The rates for age-attained premiums increase based on your age. Issue-age rates are based on the age when you enroll. For both types of policies, an insurance company can charge different premiums based on other factors, including gender, whether you smoke or your zip code.
Benefits of Medicare Supplement Plan F in Wyoming:
If you want to sign up for a Medicare Supplement plan that will offer the most healthcare coverage, you’ll probably prefer Medigap Plan F in Wyoming over the other Medicare plans. This is the most popular health plan among those with Medigap insurance because of its comprehensive coverage.
You’ll have the most coverage on top of your standard Medicare benefits if you choose Plan F. Many people find that the higher monthly premiums are worthwhile because of all of these benefits:
- 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
Benefits of Medicare Supplement Plan G in Wyoming:
Another plan that will help greatly cut down on your out of pocket costs is Medigap Plan G in Wyoming. This is another robust plan that offers more benefits than most plan options. It is similar to Plan F but is cheaper in most cases.
- Does NOT cover Medicare Part B deductible
Benefits of Medicare Supplement Plan N in Wyoming:
If you are mostly happy with the coverage through the federal Medicare program but want a bit of additional coverage, you might not want or need comprehensive benefits like Plan F or Plan G. Instead, you may want to explore Medigap Plan N in Wyoming. It’s not as comprehensive of a plan, but it is a more affordable plan that will still help you save on out of pocket costs.
- Does NOT cover Part B Deductible
- Does NOT cover Part B excess charges
- Requires $20 copay for office visits
- Requires $50 copay for emergency room visits
Medicare Supplement Plans in Wyoming: When Can I Enroll?
The best time to enroll in one of the Medigap plans in Wyoming is during your Medigap open enrollment period. This occurs when you turn 65 and enroll in Medicare Part B. During this six-month initial enrollment period, companies selling Medicare Supplement insurance plans cannot deny you a policy or charge more based on your health. During this time, you can select the best Medicare Supplement plan in Wyoming that meets your needs. Medicare Supplement insurance plans are guaranteed renewable as long as you continue to pay the premiums.
If you do not enroll during this period and want to buy a Medigap policy later, an insurance company can refuse to sell you a policy, charge you more or require medical underwriting.
In limited circumstances, you may qualify for guaranteed issue rights. If so, a company like UnitedHealthcare or Humana must sell you a policy and cannot charge more even if you have preexisting health conditions. Check with the Wyoming State Health Insurance Information Program to see if you qualify.
Medicare Supplement Plans in Wyoming: Enrollment Statistics
The estimated population of Wyoming is 568,125 residents. Approximately 19 percent are aged 65 or older. According to 2019 census estimates, the most populated counties and the number of residents are:
• Laramie 98,327
• Natrona 79,547
• Campbell 46,242
• Sweetwater 43,534
• Fremont 39,803
In 2018, Wyoming had 107,656 Medicare beneficiaries. Of these, 87 percent were enrolled because of age and 13 percent because of disabilities. Approximately 105,000 were enrolled in Original Medicare. The remaining 2,700 were enrolled in a Medicare Advantage Plan. The state ranked 49th out of 50 in the number of Medicare beneficiaries and 45th in spending per beneficiary, at $9,050 in 2014.
Approximately 47 percent of those enrolled in Medicare in Wyoming have Medigap plans. Below is a chart showing the most popular Medicare Supplement insurance plans in Wyoming and the number enrolled:
• Plan F 30,871
• Plan G 3,839
• Plan N 2,759
• Plan C 1,776
• Plan A 518
Wyoming Medicare Resources
Here are a few resources to help you find the best Medicare Supplement plan in Wyoming that suits your needs.
Wyoming State Health Insurance Information Program, http://www.wyomingseniors.com/services/wyoming-state-health-insurance-information-program
Wyoming Senior Citizens, Inc., http://www.wyomingseniors.com/
The Official Medicare website, http://www.medicare.gov
The Centers for Medicare and Medicaid Services (CMS), http://www.cms.gov
You may still have questions after checking out these resources, or you might just want to talk to a licensed insurance agent who can talk with you one-on-one about your options.
Whether you live in Cheyenne or another city in Wyoming, we can help you shop for a Supplement plan through a top company like United Healthcare. We can also talk to you about Medicare Part C (Medicare Advantage) or prescription drug coverage through one of the Medicare Part D prescription drug plans.
Give us a call today. We’re looking forward to helping you out!
Related Topics for Comparing Medicare Supplement Companies and Plans in Wyoming
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.