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Medicare Supplement Plans in Wisconsin

Medicare Supplement plans in Wisconsin are governed by different rules than Medigap plans in most other states. Instead of limiting insurance companies to standardize benefits for each Medicare Supplement plans, Wisconsin establishes a list of essential services that every carrier must include in their policies. Consumers are then allowed to add optional riders if they want to enhance their Medicare Supplement plans.

If you plan to sign up for Original Medicare (Part A and Part B) soon or have recently secured Part B, you are ready to compare quotes to find affordable Medicare Supplement plans in Wisconsin. Your Medigap plan will allow you to receive excellent medical care without worrying about deductibles, co-payments or the location of your preferred medical care providers. Medicare Supplement Plans in Wisconsin

Medicare Supplement Plans in Wisconsin:  Enrollment Statistics

According to the Wisconsin Family Health Survey (FHS), more than 99 percent of Wisconsin residents aged 65 or older had health insurance in 2015. This includes the largest county in the state, Milwaukee County. Roughly 20 percent of Milwaukee County residents are on Medicare in 2012.

The remaining largest five Wisconsin counties include Dane County, Waukesha County, Brown County and Racine County. Let’s take a closer look at some interesting Medicare and health care statistics for Wisconsin.

  • Employer insurance plans in 2012 covered close to 60 percent of Wisconsin residents.
  • More than 80 percent of Wisconsin Medicare recipients are qualified for the program due to age alone.
  • The annual cost of Medicare per Wisconsin participant is close to $9,000. This translates to approximately $8 billion per year for the entire state.

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

You can apply for a Medicare Supplement plan in Wisconsin at any time, but specific periods are important to be aware of. Let’s take a look at your three options when signing up for your first Medicare Supplement plan.

1. Your Medigap Open Enrollment Period

This is a window of time that opens the first day of the month in which you turn 65 and closes six months later. You have a guaranteed enrollment right during this period, which means that insurance companies cannot ask questions regarding your medical history and cannot decline your application. You are entitled to receive the Medicare Supplement plan of your choice regardless of your pre-existing conditions or overall health condition.

2. Special Guaranteed Issue Periods

If you didn’t sign up for a Medicare Supplement plan in Wisconsin during your open enrollment period, you might qualify for a special guaranteed-issue period at a later point in your life. Insurance carriers cannot refuse to cover you in this case either, but you will only have 63 days from the time that you lose your prior insurance to sign up for a Medigap plan. Talk to a Medicare Specialist to see if you qualify for a special-guaranteed enrollment.

3. Anytime Enrollment

If you are outside of both guaranteed issue periods, you can still apply for a Medicare Supplement plan in Wisconsin.  The company can ask health questions and can decline the policy if it does not meet their criteria.

How Are Rates Calculated for Medicare Supplement Plans in Wisconsin?

There are three ways that insurance companies can calculate rates for your Medigap plan:

  • Community-Rated

    – All participants are charged the same rates regardless of age.

  • Issue-Age-Rated

    – Your age when you first secured your Medicare Supplement plan will forever determine your rate.

  • Attained-Age-Rated

    – Your rate is based on your age at each policy renewal.

Most Medicare Supplement plans in Wisconsin calculate rates based on the attained-age model.

Which Medicare Supplement Plans Should I Compare?

Medicare Supplement Plans in Wisconsin aren’t designated by letters as in most other states. The state assigns a standardized list of basic services that every insurance carrier must offer in a Basic Plan. These companies then provide a short list of riders that add coverage to each Medigap policy, according to the needs and budget of each consumer. This allows you to customize your healthcare, but it can also drive up the cost of your Medicare Supplement plan if you receive high rates for your riders.

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

One of the main reasons that so many seniors are now investing in Medigap plan is the freedom that these plans deliver. You can see any doctor accepting Medicare in the United States without worrying about networks or referrals. If you enjoy traveling across the country or routinely visit loved ones in different states, you never have to worry about your insurance not covering your cost of care if you need medical services while away from home.

Most Medicare participants can keep their Medicare Supplement plans when they move to a new state, but it’s different for Wisconsin residents. Since this state uniquely structures their Medigap plans, you’re more likely to need a new plan when you move to a different state. In many cases, your insurance carrier will help you switch to a plan with comparable coverage that is offered in your new state.

How Do I Apply For a Medicare Supplement Plan in Wisconsin?

Are you still confused by terms like Medigap and the rules associated with enrollment periods, benefit allowances or riders? Our Medicare Specialists can answer your questions while helping you compare quotes from trustworthy insurance carriers over the phone. If you prefer to find your own quotes first, select your Wisconsin from the drop-down menu.  Start considering your options for Medicare Supplement plans today.

Wisconsin Medicare Resources

Need more help or have special circumstances surrounding your Medicare needs? The following links may help.