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Medicare Supplement Plans in Arkansas

A good portion of local Medicare beneficiaries decided that Medicare Supplement plans in Arkansas offer them good coverage, a fair price, and access to top healthcare.

Take a moment to learn more about how a Medicare Supplement plan works in Arkansas make sure that you use your own Medicare benefits to access the right doctors and enjoy peace of mind.

Medicare Supplement Plans in Arkansas: Enrollment Statistics

These are some highlights of enrollment numbers for Medicare Supplement plans in Arkansas:

  • Part A and B Enrollment: About three-quarters of a million
  • Owners of Medicare Supplement plans in Arkansas: About 173,000
  • Most popular plans: Plan F, with over 300,000 policyholders
  • Percentage of Arkansas beneficiaries with a Medigap plan: About 36 percent

These are the most populated Arkansas counties with populations:

  • Pulaski County, AR: 393,250
  • Benton County, AR: 258,291
  • Washington County, AR: 228,049
  • Sebastian County, AR: 127,793
  • Faulkner County, AR: 122,227

How Do Companies Calculate Rates for Medicare Supplement Plans in Arkansas?

You should know that Arkansas allows insurers to use one of three methods to set premiums for a Medicare Supplement plan in Arkansas:

  • Attained age

    With this kind of premium scheme, insurers base premiums upon the policy owner’s current age.

  • Issue age

    With this method, companies base premiums upon the age the of beneficiary when they first bought the policy.

  • Community-rated

    When insurers rate by a community or region, they offer everybody in the plan the same premiums.

At 65, attained-age policies may always appear cheaper; however, the insurer can base increases as the policy owner gets older. Of course, companies can increase rates over time because of increased medical costs; however, an issue-age or community-rated plan won’t penalize members of a Medicare Supplement plan in Arkansas for longevity.

Which Medicare Supplement Plans in Arkansas Are Available?

Like most of the other states, you can compare 10 Medicare Supplement plans in Arkansas. An insurance company does not have to market any or all Medicare Supplement plans in each area, so your choices could differ from a resident of another city or county.

As noted above, Plan F has proven the most popular plan in the state. Plan N and G are second and third. Plan F and G are the two most robust Medicare Supplements, but Plan N offers lower premiums with more cost-sharing on the part of the policy owner.

How Does a Medicare Supplement Plan in Arkansas Cover Prescriptions?

Medicare Supplement plans were originally designed to complement Original Medicare. Both Medicare Supplements and Original Medicare only cover prescriptions in very specific circumstances. This means you need to enroll in Part D for prescriptions that you get from a doctor and take to your pharmacist. In addition, you may have to pay a penalty if you wait to enroll in Part D until after your Initial Enrollment Period.

Many of the same insurers who offer Medigap plans will also offer you a Medicare prescription drug plan; however, you aren’t compelled to purchase both plans from the same insurer. You may find it helpful to compare prescription and Medicare Supplement policies on their own to give you the most flexibility.

For instance, one company might have low rates for Medigap policies; however, another company may provide the best coverage for the brand-name prescription that you require.

Medicare Supplement Plans in Arkansas: When Can I Enroll?

With a Medigap plan, you do have an Initial Enrollment Period that begins in the month when you first become a Medicare beneficiary after turning 65. If you had Original Medicare before age 65 because you were disabled, you still get this Medigap Open Enrollment Period when you do turn 65. Most Medicare beneficiaries under 65 turn to Medicare Advantage.

After the first of the month that you are enrolled in Medicare Part A and Part B and have turned 65:

  • You have six months to choose any local Medicare Supplement plan in Arkansas without having to answer health questions. For many people, this is the best time to enroll in a Medigap plan.
  • If you lose your other health coverage at other times, you may also enjoy another 63-day period when you can buy a Medigap policy in Arkansas without health underwriting.

You can still apply for a Medigap policy at other times. To qualify, you just have to be enrolled in Medicare Part a and Part B. If you’re outside of your Medigap Open Enrollment Period, the insurance company has the right to charge you a higher premium or even decline your application. If you’re a fairly active senior, you shouldn’t assume this will happen. You can always speak with an agent who can help you understand your best options for Medicare Supplement plans in Arkansas or other kinds of coverage.

Can You Use Your Arkansas Medicare Supplement Plan in Other States?

One of the best benefits of Medicare Supplement plans is that they are so portable. You have the freedom to choose virtually any doctor and cross state lines at will with them.

If you plan to move away from Arkansas:

  • If you move, you can still usually keep the same Medicare Supplement plan from Arkansas; however, you will have to report your change of address. It’s possible that your rates will change the next time you renew.
  • In some cases, your old insurer may not offer plans in your new city, but you should have another Election Period when you can join a new company without health underwriting.

Arkansas Medicare Resources

These resources should help Arkansas Medicare beneficiaries: