MEDICARE SUPPLEMENT INSURANCE

More about Medicare Supplements

Medicare does not cover all medical expenses. Make sure you are covered.

A Medicare Supplement Insurance (Medigap) policy is health insurance that can help pay some of the health care costs that Original Medicare doesn't cover, like coinsurance, copayments, or deductibles. No matter where you live, Medigap can be crucial. We provide Medicare Supplement Insurance across Illinois including Skokie, Lincolnwood, Niles, Evanston, Morton Grove, and around Chicago. 

 

How do you know you have the right coverage?  Give us a call at (847) 675-7714 and find out.

Contact Statewide Insurance and you can choose a Medicare Supplement insurance plan that best suits your personal situation.

What's Medicare?

Medicare is health insurance for:

  • People 65 or older

  • People under 65 with certain disabilities

  • People of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant)

The different parts of Medicare

The different parts of Medicare help cover specific services.

Part A (Hospital Insurance)

Helps cover:

  • Inpatient care in hospitals

  • Skilled nursing facility care

  • Hospice care

  • Home health care

Part B (Medical Insurance)

Helps cover:

  • Services from doctors and other health care providers

  • Outpatient care

  • Home health care

  • Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment and supplies)

  • Many preventive services (like screenings, shots, and yearly "Wellness" visits)

Part D (Prescription drug coverage)

Helps cover:

  • Cost of prescription drugs

Part D plans are run by private insurance companies that follow rules set by Medicare.

Your Medicare options

When you first enroll in Medicare and during certain times of the year, you can choose how you get your Medicare coverage. There are 2 main ways to get Medicare. 

Original Medicare

  • Original Medicare includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).

  • If you want drug coverage, you can join a separate Part D plan.

  • To help pay your out-of-pocket costs in Original Medicare (like your deductible and 20% coinsurance), you can also shop for and buy supplemental coverage.

  • You can add: Part D

  • You can also add: Supplemental coverage

    • Some examples include coverage from a Medicare Supplement Insurance (Medigap) policy, or coverage from a former employer or union.​

Medicare Advantage (also known as Part C)

  • Medicare Advantage is an "all in one" alternative to Original Medicare. These "bundled" plans include Part A, Part B, and usually Part D

  • Some plans may have lower out-of-pocket costs than Original Medicare.

  • Some plans offer extra benefits that Original Medicare doesn't cover - like vision, hearing, or dental.

Frequently Asked Questions About Medicare Supplements

What's a Medigap policy?


A Medigap policy is private health insurance that helps supplement Original Medicare. This means it helps pay some of the health care costs that Original Medicare doesn't cover (like copayments, coinsurance, and deductibles). These are "gaps" in Medicare coverage.

If you have Original Medicare and a Medigap policy, Medicare will pay its share of the Medicare-approved amounts for covered health care cots. Then your Medigap policy pays its share. A Medigap policy is different from a Medicare Advantage Plan (like an HMO or PPO) because those plans are ways to get Medicare benefits, while a Medigap policy only supplements the costs of your Original Medicare benefits.

Note: Medicare doesn't pay any of your costs for a Medigap policy.

All Medigap policies must follow federal and state laws designed to protect you, and policies must be clearly identified as "Medicare Supplement Insurance". Medigap insurance companies in most states can only sell you a "standardized" Medigap policy identified by letters A through N. Each standardized Medigap policy must offer the same basic benefits, no matter which insurance company sells it.

Cost is usually the only different between Medigap policies with the same letter sold by different insurance companies.

What do Medigap policies cover?

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What do Medigap policies not cover?

 

Generally, Medigap policies don't cover long-term care (like care in a nursing home), vision or dental care, hearing aids, eyeglasses, or private-duty nursing.

Types of coverage that are NOT Medigap policies

 

  • Medicare Advantage Plans (Part C), like an HMO or PPO 

  • Medicare Prescription Drug Plans (Part D)

  • Medicaid

  • Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP)

  • TRICARE

  • Veterans' benefits

  • Long-term care insurance policies

  • Indian Health Service, Tribal, and Urban Indian Health plans

  • Qualified Health Plans sold in the Health Insurance Marketplace

 

What do I need to know if I want to buy a Medigap policy?

  • You must have Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance to buy a Medigap policy.

  • If you have a Medicare Advantage Plan (like an HMO or PPO) but are planning to return to Original Medicare, you can apply for a Medigap policy before your coverage ends. The Medigap insurer can sell it to you as long as you're leaving the Plan. Ask that the new Medigap policy start when your Medicare Advantage Plan enrollment ends, so you'll have continuous coverage.

  • You pay the private insurance company a premium for your Medigap policy in addition to the monthly Part B premium you pay to Medicare.

  • A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you each will have to buy separate Medigap policies.

  • When you have your Medigap Open Enrollment Period, you can buy a Medigap policy from any insurance company that's licensed in your state.

  • If you want to drop your Medigap policy, write your insurance company to cancel the policy and confirm it's cancelled. Your agent can't cancel the policy for you.

  • Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you stay enrolled and pay the premium.

  • Different insurance companies may charge different premiums for the same exact policy. As you shop for a policy, be sure you're comparing the same policy (for example, compare Plan A from one company with Plan A from another company).

  • Some states may have laws that give you additional protections.

  • Although some Medigap policies sold in the past covered prescription drugs, Medigap policies sold after January 1, 2006, aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D) offered by private companies approved by Medicare. 

 

 

 

 

 

 

HOURS & LOCATION
Location

Statewide Insurance Agency of Skokie

8001 Lincoln Ave Suite 715

Skokie, IL 60077

swinsurance@sbcglobal.net

 

Tel: 847-675-7714

Fax: 847-675-6851

Hours

Monday: 9:00am to 6:00pm

Tuesday: 9:00am to 6:00pm

Wednesday: 9:00am to 6:00pm

Thursday: 9:00am to 6:00pm

Friday: 9:00am to 6:00pm

Contact Us

Statewide Insurance Agency of Skokie

8001 Lincoln Ave Suite 715

Skokie, IL 60077

Telephone: (847) 675-7714

Fax: (847) 675-6851

Email: swinsurance@sbcglobal.net

We provide home, auto, business, life and health insurance throughout Illinois including Chicago, Evanston, Skokie, Niles, Lincolnwood, Morton Grove, and the surrounding areas.

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