This product is underwritten by Medico® Insurance Company, a Wellabe company.
Our Medicare Supplement insurance plans are an extension of our promise to help you prepare for tomorrow so you can live better today. Medicare Supplement insurance, a.k.a., Medigap, is supplemental health insurance meant to fill gaps between what’s paid by original Medicare and the overall cost of health care treatments. It also helps with charges like copays, deductibles, and coinsurance.
If you’re 65 years old and enrolled in Medicare Parts A and B, you can apply for Medicare Supplement insurance. Even though Medicare beneficiaries can enroll in a Medicare Supplement plan at any time of the year,1 the best time to do so is during an open enrollment period that occurs within 6 months of your 65th birthday. That is when you can apply for a Medicare Supplement policy without having to answer health questions and can lock in the best rate.
When you purchase one of our Medicare Supplement insurance plans, you’re getting a competitive premium with:
In addition to lowering out-of-pocket costs, our Medicare Supplement insurance plan offers benefits that can be flexible and work for your specific situation.
A Wellabe agent can help you select a Medicare Supplement insurance plan that fits your needs and budget. We offer a base plan with optional riders that can be added to the plan.
Inpatient hospital: Part A coinsurance
Skilled nursing facility: Part A hospital coinsurance
Hospice: Part A copayment
Part B copayment or coinsurance
Home health care: 40 visits
Part A and B: 3 pints of blood
Inpatient mental health
Part A deductible
|Part B deductible|
Part B excess charges
Additional home health care
Foreign travel emergency
Just like other health care coverage decisions, the answer to, “Do I need supplemental insurance with Medicare?” is a personal one, and Wellabe is here to walk alongside you as you make the best decision for yourself and your family. With Original Medicare Part A and Part B comes deductibles and copays. If you do not want to worry about those out-of-pocket costs, you may want to consider adding a Medicare Supplement policy to cover those expenses.
Medicare Advantage, sometimes called “Part C,” is provided by private insurance companies. If you're enrolled in a Medicare Advantage plan, you’re technically still in the overall “Medicare” system, but your Medicare benefits come from the Medicare Advantage insurance provider rather than the federal government program. They tend to have more restrictive provider networks that you must stay within to avoid extra out-of-pocket expenses.
Medicare Supplement insurance is a supplemental health insurance designed to cover the remaining costs, like deductibles and copays, generated from Original Medicare Part A and Part B. The provider network generally includes Medicare-approved providers and allows for foreign travel emergency health care coverage when you travel outside the United States.
You cannot use a Medicare Supplement policy and Medicare Advantage plan at the same time.
Medicare Supplement plans come in A, B, C, D, F, G, K, L, M, and N, with varying amounts of costs and coverage, depending on the deductible level and specific plan. The biggest difference between plans is the cost. All Medicare Supplement plans offered by private insurance companies are required to follow federal and state laws that are designed to protect you.
According to the U.S. Centers for Medicare and Medicaid Services, it takes four steps to choose a Medicare Supplement insurance plan:
Any time, but the best window to choose your Medicare Supplement plan is during the 6-month open enrollment period. This begins on the first day of the month you turn 65, or when you enroll in Medicare Part B. For that day and the following 6 months, you can sign up for any of the 12 standard plans without the need for medical underwriting and at the regular rate. You cannot be charged more for coverage if you have a pre-existing health condition. If you want to choose or change your plan outside of that timeframe for whatever reason, you can do so; it just may require medical underwriting, have higher premiums, and acceptance is not guaranteed.
Medicare Supplement insurance coverage can be denied, depending on pre-existing conditions and other considerations, if you apply outside of the 6-month window. If you’re not in your open enrollment period or are not eligible for guaranteed issue, you will have to answer some health questions in order to qualify.
When you become a Wellabe policyholder, you’ll have access to resources that make it easy to make the most of your plan, including our mobile app, customer portal, and Customer Success team via email or phone. Visit the Customer resources page to learn more.
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Are you wondering if you need Medicare Supplement insurance or if you’re required by law to have it? Find out these and other supplemental Medicare insurance answers.
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