People who are enrolled in Part A and Part B of Medicare have a few different options for private insurance. Many people at the age of 65 enroll in Medicare Supplement plans. With the new MACRA legislation that went into effect on 1/1/2020, most Medicare beneficiaries want to enroll in the Plan G. In Nevada, we have special state regulations regarding eligibility for Medicare Supplement plans. If you want a Nevada Medicare Supplement Plan G in 2021, you need to meet the following requirements:
- Actively enrolled in Medicare Part A.
- Actively enrolled in Medicare Part B.
- Must be 65 years old or older.
- Your permanent home address is in Nevada.
Which Insurance Company is Best?
If you meet these requirements, you may want to consider your options with a Medicare Supplement plan. When reviewing the Medicare Supplement Plan G with every carrier in Nevada, there are a few things to keep in mind:
- Every Nevada Medicare Supplement Plan G in 2021 has the same medical benefits (regardless of the insurance company). The only out of pocket cost when receiving care with Medicare provider is your Part B deductible. The 2021 Part B deductible is $203 for the entire calendar year.
- Every Nevada Medicare Supplement Plan G in 2021 has the same access to doctors and hospitals (regardless of the insurance company). To search doctors, please click here.
In simple terms – every Medicare Supplement Plan G has the same physician access and the same medical benefits. The main aspect to keep in mind when shopping plans is the projected premium increases. Some insurance companies give teaser rates to people at 65 and then jack up the rates as the years go on. Other carriers will offer consistent rate increases from year to year without duping their enrolled members with a low teaser rate at 65. Rate increases on the Medicare Supplement Plan G are usually around 5-10% each year.
If you have a Medicare Supplement Plan today and you want to see if you are getting the best deal, please give us a call. We will assess your situation to see if you need to answer health questions. In Nevada, there is no Open Enrollment period to switch Medicare Supplement plans. Most people who want to switch Medicare Supplement plans can do so at any time of year. However, most people who switch Medicare Supplement plans are required to answer health questions which may result in a denied application. The process may seem daunting, but it is quite simple when working a broker. Our brokers do not charge fees and we will help you understand your options.