Massachusetts Medicare Supplement (Medigap) Insurance Plans
A Massachusetts Medigap policy is a health insurance policy sold by private insurance companies to Medicare Insurance recipients that are enrolled in the Original Medicare Plan. These Massachusetts Medicare Supplement Plans cover the “gaps” in the Medicare Part A and Medicare Part B. Some Massachusetts Medigap plans also cover benefits that the Original Medicare Plan does not cover, like emergency health care while traveling outside the United States.
Two standard Medigap policies are offered to Massachusetts residents:
• Medicare Supplement Core
• Medicare Supplement 1
There was once for sale a Massachusetts Medicare Supplemental Plan call "Medicare Supplement 2." However, by Federal regulations, Medicare Supplement 2, which includes prescription drug coverage cannot be sold after December 31, 2005. However, existing members may remain enrolled. By remaining enrolled, existing members will continue to have prescription drug coverage. If you disenroll from Supplement 2, you cannot re-enroll in the future
Massachusetts Medicare Supplemental Insurance Plans are regulated by federal and state laws and are monitored by the Massachusetts Division of Insurance.
Regulations on Massachusetts Medicare Supplemental Plans:
• The front of the Medigap policy must clearly define it as “Medicare Supplement Insurance”. Individual Medigap insurance coverage and text is standard for all insurers.
• Medigap policies are guaranteed renewable and cannot be cancelled unless the beneficiary stops paying the premium or provides false information on the application when they buy the policy.
• Medigap insurers cannot refuse to sell a policy, exclude or limit coverage, or require a waiting period before coverage starts due to existing health problems.
• Medigap insurers must offer the same premium (a “community rate”) to all policyholders and cannot charge a different premium based on age or health problems.
• Under the Massachusetts “Ban on Balance Billing” law licensed physicians cannot collect more than the Medicare approved charge for any Medicare service provided to a Medicare beneficiary.
Who Can Buy Massachusetts Medigap Insurance?
Any Massachusetts resident that is covered by the Original Medicare plan may buy a Massachusetts Medicare Supplemental Insuranc Plan in Massachusetts except for individuals under age 65 who are eligible for Medicare solely due to End-Stage Renal Disease.
When Can I Buy Massachusetts Medigap Insurance?
Massachussets Medicare Supplement Insurance Plans can be purchased, upgraded or downgraded at any time throughout the year. The effective date of the new coverage is the first day of the month following the date that the insurer receives the application or change request.
About Massachusetts Medicare Supplement Plans
Though the coverages for the same Massachusetts Medicare Supplement Plan with company are the same as an Massachusetts Medicare Supplement Insurance Plan with any other company, the rates vary between Massachusetts Medicare Supplement Insurance Companies.
This means if you get a specific Massachusetts Medicare Supplement Plan such as a Medicare Supplement 1 with AARP or Blue Cross, Mutual of Omaha or any other company it will cover you exactly the same.
This makes it very important to shop around to find the best rate on Comprehensive Massachusetts Medicare Supplemental Insurance.
Since Massachusetts Medicare Supplement Insurance Plans are standardized, you will get the same coverage for the same plan (i.e. Medicare Supplement Core) no matter which company you choose. So for instance, if you get an AARP Medicare Supplement Core it will cover you the same as a Mutual of Omaha Medicare Supplement Core, a Blue Cross Medicare Supplement Core or any other company that offers Medigap coverage.
Therefore, it is more important than ever to shop around multiple Medicare Supplement Insurance Companies to find the best price possible for the exact same coverage.
Call (888) 875-4463 today to receive a multiple company rate analysis on Massachusetts Medicare Supplement Insurance Plans. Or you can simply fill out the form on this page to speak with a licensed Medicare Supplement Insurance Specialist.