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Utah Medigap | Utah Medicare Supplement Plans

A Utah Medigap (also called Utah Medicare Supplement Insurance) policy is private health insurance that is designed to supplement Original Medicare. This means it helps pay some of the health care costs (gaps) that Original Medicare doesn’t cover (like copayments, coinsurance, and deductibles). If you are in Original Medicare and you have a Medigap policy, Medicare will pay its share of the Medicare-approved amounts for covered health care costs. Then your Medigap policy pays its share. (Note: Medicare doesn’t pay any of the costs for you to get a Medigap policy.)

Also, a Utah Medigap policy is different from a Medicare Advantage Plan (like an HMO or PPO) because those plans are ways to get Medicare benefits, while a Medigap policy in Utah only supplements your Medicare benefits.

Every Medicare Supplement insurance policy in Utah must follow Federal and state laws designed to protect you and the policy must be clearly identified as Medicare Supplement Insurance. Medigap insurance companies in Utah and in most states can only sell you a standardized Medigap policy identified by letters A through N. Each standardized Medigap policy must offer the same basic benefits, no matter which insurance company sells it. Cost is usually the only difference between Medigap policies with the same letter sold by different insurance companies.

It’s important to compare Medigap policies because costs can vary. The benefits in any Medigap Plan are the same for any insurance company. Each insurance company decides which Medigap policies it wants to sell.

Generally, when you buy a Medigap policy you must have Medicare Part A and Part B. You will have to pay the monthly Medicare Part B premium. In addition, you will have to pay a premium to the Medigap insurance company.

You and your spouse must each buy separate Medigap policies. Remember, your Medigap policy won’t cover any health care costs for your spouse.

For additional information on Medigap policies, including why you would want to buy a Medigap policy and information about what Medigap policies cover, read this publication,Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare (pdf). Additionally visit http://www.medicare.gov for additional information

All Medicare Supplements (Medigap) in Utah have been standardized by the federal government since 1992. According the publication “Choosing a Medigap Policy“.

Insurance companies can only sell you a “standardized” Medigap policy. Each type of Medigap policy offers the same basic benefits, no matter which insurance company sells it. Usually the only difference between Medigap policies sold by different insurance companies is the cost.

The most popular Medicare Supplement is Plan F. Every Plan F is identical but the premium will vary depending on company. Some companies will offer up to a $20 discount for people turning 65. The lowest priced plan in Salt Lake may be one of the higher priced elsewhere.

Don’t just settle for Plan F. Other plans may be more cost effective. Make sure you use an agent who specializes in Medicare to show you all the options.

Our agency represents virtually all Medicare Supplement carriers including:

• Sentinel Security
• Mutual of Omaha
• Forethought
• Family Life
• Woodmen of the World
• United Healthcare (AARP)

Let us help you choose the right plan. Most agents do not specialize in Medicare Supplement Policies. We do and would be happy to show you all your options. Contact Us here

Is Plan F right for you??

Many Medicare Supplement insurance agents place an emphasis on Plan F, but that does not necessarily mean it is the right plan for you. How do you find out if you should jump on the bandwagon or take the road less traveled because it suits you better? There are three main guidelines when conducting Medicare Supplement comparison that will help you make this important decision.

First, how does the premium of Plan F compare with other lower-tiered plans? Plan F is often set at a higher price than any other Medicare Supplement plan except Plan J. (J is no longer available)

With less expensive plans, you can end up saving quite a bit every month. This does not seem like much when looked at on a month-by-month basis, but over the course of a year you could save a bunch. We have saved some clients close to $100 a month, but the average savings will be $25 to $40 per month.

Of course, signing up for lower costing plan will result in more out-of-pocket expenses, but if you are in pristine health and have no family history of intense illness in old age, many times a less comprehensive plan is fine for seniors who are still paying the high premiums of Plan F. That is why it is important to take the time to conduct Medicare Supplement comparison.

Next, consider whether you can really handle a few extra out-of-pocket expenses in exchange for a more manageable monthly premium.

Plan F covers those excess fees that could be charged to you. Most doctors, however, do accept Medicare assignment so that particular benefit of Plan F is wasted. Because of this, we often recommend Plan D or G, because other than the $140 part B deductible, the coverage is essentially the same as Plan F at a significant cost savings. Make sure you have an agent that is willing to show you all of the options, not just the one that pays them best.

Utah Medicare Advantage Plans, Utah Medicare Supplement Plans, FAQ’s

Servicing all of Utah including: Salt Lake City, Bountiful, West Jordan, Layton, Brigham City, Logan, Provo, South Jordan, Lehi, St. George, Tooele, Magna, Cedar City, Morgan, Park City, Roosevelt, Duchesne, Ogden, Tremonton, Sandy, American Fork, Nephi, Price, Moab, Evanston, Wendover, West Valley City, Taylorsville, Farmington, Woods Cross, North Salt Lake, Rose Park, Glendale, Draper, Spanish Fork, Hyrum, Smithfield, Roy, West Point, Harrisville, Layton, Syracuse, Clearfield, Riverton, Herriman, Bluffdale,Saratoga Springs, Grantsville, Erda, Provo, Orem