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Medicare Supplement Plans in Virginia

If you want to simplify your healthcare as much as possible, Medicare Supplement plans in Virginia can help. There were nearly 60 million people signed up for Medicare in 2017.  Original Medicare (Part A and Part B) will cover roughly 80% of your medical expenses leaving gaps in coverage. A Medicare Supplement plan in Virginia can fill in most or all of those gaps. Some of these gaps include: Medicare Supplement Plans in Virginia

  • Excess charges
  • Copayments
  • Coinsurance
  • Deductibles

Whether you’re already struggling to cover these expenses or you’re preparing to sign up for Orginal Medicare A and B shortly, we can help. Let’s start by getting a basic understanding of Medicare Supplement plans in Virginia and how they work.

Medicare Supplement Plans In Virginia: Enrollment Data

In 2017, there were more than 1.1 million Medicare beneficiaries in Virginia. Let’s take a quick look at the approximate number of beneficiaries represented in five of the state’s largest counties:

  • Fairfax County – 95,000
  • Prince William County – 26,000
  • Loudoun County – 24,000
  • Chesterfield County – 41,000
  • Henrico County – 31,000

Roughly 30 percent of Medicare beneficiaries in this state have enrolled in Medicare Supplement plans in Virginia. Of those participants, more than 60 percent chose in Plan F or Plan C. This trend has continued in recent years, but Plan G and Plan N are picking up in popularity. This is due to the greater freedom and flexibility offered by the traditional benefits when combined with a Medicare Supplement plan.

In 2015, the average retirement age in Virginia was 63. In 2016, that age when up to 64. More Virginians are likely choosing to work a year or two longer now that the economy is starting to revive.

When Should I Apply For a Medicare Supplement Plan in Virginia?

Anytime is a good time to apply for a Medicare Supplement plan. If you have signed up for Medicare Part B or plan to do so soon, then you are qualified to at least apply for the Medigap plan of your choice. Below is a breakdown of the most common enrollment time frames.

Initial Election: Apply during your initial Medigap Open Enrollment Period.

This starts the month that you turn 65 and extends for six months. During this period, you have guaranteed-enrollment rights. This means that all insurance carriers offering Medicare Supplement plans in Virginia are required to provide you with benefits. Your medical history is not a factor when determining your premium.

Special Election: Apply during a special guaranteed-enrollment period.

This unique opportunity for guaranteed enrollment is likely to open if you didn’t select a Medicare Supplement plan during your initial enrollment period. A few examples of this are:

  • losing employer medical coverage due to retirement or other circumstances
  • moving outside of your current plans service area
  • your existing Medicare plan files for bankruptcy or violates their contract with you.

Usually, you have 63 days to take advantage of these special enrollment periods.

Anytime Election: If your open enrollment period has passed and you don’t qualify for a special enrollment period, you can still apply for Medigap plan. Insurance carriers will ask questions regarding your medical history as you move through the underwriting process.

How Are Rates Calculated For Medicare Supplement Plans In Virginia?

Insurance carriers may use some or all the following factors to determine your Medigap premium:

  • Age
  • Zip code
  • Smoking habits
  • Gender

There are three methods that insurance companies use to determine rates for individual Medicare Supplement plans.

  • Community-rated

    policies offer the same Medigap rate to all applicants falling within specific areas or groups.

  • Issue-age policies

    base your rate on your age at the time of your application for coverage. Your premium for your Medicare Supplement plan may change based on fluctuations in the cost of health care but will not go up due to your advancing age.

  • Attained-age

    rating calculation bases premium on your age, so your Medigap plan will become more expensive as you advance into higher age groups or brackets.

Which Medicare Supplement Plans in Virginia Should I Compare?

Since each Medicare Supplement plan includes a different set of benefits, your choice is personal. Plan F is by far the most popular option, but Plan G and Plan N are becoming more popular by the year. The main difference between these Medigap plans is whether or not they will cover your Medicare Part B deductible and/or excess charges.

Can I Use My Virginia Medicare Supplement Plan In Other States?

Medicare Supplement plans more attractive than other forms of coverage because it travels with you. There are no networks to consider, and you don’t have to ask for referrals when you want to schedule an appointment with a specialist. You remain in complete control of which doctors treat your body, regardless of doctor location. When you enroll in a Medigap plan, you will have the ability to receive care whenever and virtually wherever it is needed.

If you move to another state, your Medicare Supplement plan will move with you. Since most insurance companies use your location to determine your premium, your Medigap rate may change along with your zip code.

How Do I Apply For a Medicare Supplement Plan In Virginia?

You can compare rates online, read reviews and learn about the many Medigap policies in force today. However, many seniors still get confused when signing up for a Medicare Supplement plan. You can get started by selecting your state from the drop-down menu on this page to find quotes for all plans available in your area.

If you need more assistance or prefer to apply over the phone, you can call our Medicare Specialists at any time. We will walk you through your options, helping you understand what benefits to expect from each Medigap plan. Our goal is to help you enroll in the best Medicare Supplement plan in Virginia for your medical needs.

Virginia Medicare Resources

Do you need a bit more information? If you purchase a Medicare Supplement plan, there are Medicare resources that can help you get the most out of your benefits.

  • Virginia Insurance Counseling and Assistance Program – information and money-saving resources regarding Original Medicare and Medigap plans, including free webinars and educational podcasts
  • Virginia Annual Wellness Visits – free annual wellness checkups for all seniors enrolled in Medicare