Kentucky Medicare Supplemental insurance plans can be purchased from private companies and will help pay some of the costs that Original Medicare doesn’t pay for.
Medicare alone doesn’t cover the costs of co-payments, coinsurance, and deductibles. It only covers 80% of your medical costs, leaving you responsible for the 20% that’s left unpaid.
Kentucky Medicare Supplement Plans
All Kentucky Medicare Supplement plans are standardized by the government. What this means is, it doesn’t matter which provider you choose to be insured with, the benefits for each letter plan will remain the same. The only difference between the providers are the cost of the plan.
All plans must include at least the basic benefits found in Plan A.
Medicare Supplement Plan B coverage includes all the benefits found in Plan A, as well as coverage for your Medicare Part A deductible. The next plan, Plan C, includes additional benefits for any Skilled Nursing Facility care coinsurance, your Medicare Part B deductible and foreign travel emergency coverage. Medicare Supplement Plan D coverage is very similar to Plan C, the only difference is that Plan D does not cover your Medicare Part B deductible.
The plan with the most extensive coverage is Plan F, also known as Medicare Gap Plan F. It covers everything found on Plan C, but includes additional coverage for any Part B excess charges.
One Step further is Plan G, this plan covers everything Plan F covers excluding your Part B deductible. Then there’s Plan N, this plan has all the same benefits as Plan D. The only difference is that Medicare Supplement Plan N coverage requires a small co-payment for emergency room visits and certain offices visits. The remaining plans are known as cost-sharing plans.
Kentucky Medicare Supplement Guide
The below information can be used as an informative Kentucky Medicare Supplement guide.
- In order to enroll, a participant must have Medicare Part A and B. KY Medicare Supplement plans are for one person only. For married couples, each spouse will have to purchase a separate policy.
- Premiums can be paid monthly in addition to the Part B premium paid to Medicare.
- Policies don’t include prescription drug coverage. Participants may enroll in Medicare Part D if they want prescription drug coverage.
- Participants may apply for Kentucky Medicare Supplements if they have a Medicare Advantage plan, but they must leave the Medicare Advantage plan before the supplement policy takes effect.
- Policies usually don’t cover long-term care, vision or dental care, hearing aids, or private nursing care.
- Kentucky Medicare Supplement premiums depend on many different factors. Your age, location, gender and carrier you choose to be insured under play a part in regards to determining your premium.
- For Medicare recipients that are under 65, the state offers all 10 letter plans. However, the rates will not be the same as it is for those who are 65+.
Enrollment for Medicare Supplements in Kentucky
The best time to apply for Medicare Supplements in Kentucky is during the 6-month Open Enrollment Period (OEP). This period begins the month the participant turns 65 and enrolls in Medicare part B. During the Open Enrollment Period, Medicare recipients with health problems can purchase insurance sold in their state at the same prices as those in good health.
Once the Open Enrollment Period is over, medical underwriting guidelines may apply. After your OEP, eligibility may be determined by the private insurance companies’ medical underwriting requirements.