Virginia Medigap Insurance
If you live in Virginia and are enrolled in Medicare Parts A and B, then you might want to consider enrolling in a Medicare Supplement plan. These plans work alongside Original Medicare to help pay for copayments, deductibles and other out-of-pocket expenses. In addition, these plans also offer extra coverage like foreign travel emergency care and Part B excess charges. There are ten different Virginia Medigap Insurance plans available in Virginia. Each plan is designated by a letter and its benefits are standardized nationwide. This means that your benefits will be identical no matter which insurer you choose to purchase your policy from.
In Virginia, the most popular Medicare Supplement plans include Plan F, Plan G and Plan N. Plan F is the most comprehensive of all the available Medicare Supplement plans and it covers your Part A coinsurance, Medicare Part B coinsurance and the annual Part B deductible. It does not, however, cover any prescription drug costs you may have.
The Plan F premium rates in Virginia are slightly lower than the national average and for a non-smoking 65-year-old woman, you will typically pay $184 per year for a Plan F policy. Plan G offers similar coverage and is also available with a $0 deductible option. Its premium rate is $192 per year for a male non-smoker. Plan N is another popular choice for its low premium and great coverage levels, especially because it pays your Part B coinsurance after you meet the annual deductible. It does not, however, provide coverage for doctor excess charges and you will be responsible for these additional fees if your doctor doesn’t agree to Medicare’s assignment.
Medigap plans are offered by private insurance carriers and are designed to help you pay for out-of-pocket healthcare expenses not covered by your Original Medicare plan. These expenses can quickly add up and a Medicare Supplement plan can help you save money on these costs. These policies are only available to those enrolled in Medicare Parts A and B and they can be purchased from insurance providers across the country.
When you are shopping for a Medicare Supplement policy in Virginia, you should consider how the company is rated by its customers and its reputation. You will want to shop for a plan with a company that has an excellent customer service rating and has few complaints.
You will also want to consider the cost of your monthly premium. Most Medicare Supplement plans are community rated which means your premium will not increase by a specific percentage based on your age. Instead, it will only increase due to inflation or other factors.
If you are looking for the cheapest Medicare Supplement plan in Virginia, then look no further than Mutual of Omaha. Their Plan G prices are 14% lower than the state average and they have a very low number of customer complaints. Medico, on the other hand, sells a very affordable Plan N in Virginia and they have an excellent customer service rating.