Way to Compare Wisconsin Medicare gap coverage is to look at prices. By using NerdWallet’s free Medigap comparison tool, you can see how each company’s rates stack up against each other. To get started, enter your location and click “Compare.”
Compare Wisconsin Medicare gap coverage
Medicare Supplements, also known as Medigap policies, can help you pay for the deductibles, copays, and coinsurance left over by Original Medicare Parts A and B. These plans are offered by private insurance companies and are different from Medicare Advantage plans, which provide all of the benefits of Original Medicare Parts A and B, plus some extras like integrated prescription drug coverage. Medicare Advantage plans have their own networks of healthcare providers that are typically local and more restricted than the nationwide network of Original Medicare. Medicare Advantage plans are available from private insurance carriers, and you can choose which one you want to sign up for during initial enrollment.
All Wisconsin Medigap plans work similarly to those in other states. They fill in all or some of the gaps in Medicare Parts A and B, which are federally standardized and must include 30 days of skilled nursing facility coverage. However, the state allows insurance companies to offer additional riders to their plans that can cover costs like foreign travel, deductibles, excess charges and home health care, among others.
It’s important to understand how Medicare Supplements differ in each state, and this is especially true for Wisconsin because the state has its own unique variations in the federally standardized Medigap plans. For example, while all 10 Medicare Supplement plans in the rest of the country have a standard base plan, Wisconsin has its own variations that allow you to build your policy in an a la cart style.
Regardless of how you choose to buy a Medicare Supplement, you can be sure that each policy is regulated by the state of Wisconsin and must follow all federal regulations. In addition, independent credit agencies such as S&P and A.M. Best can give you insights into the financial stability of each carrier, while consumer agencies such as the Better Business Bureau can report on customer satisfaction.
Tip: NerdWallet’s Medicare Plan Finder tool displays prices for the basic base plan for each Wisconsin Medigap provider that has filed prices with the state insurance department. But to fully understand the prices you might pay, take a look at the cost of each company’s rider packages. Some providers offer a low price for the base plan, but charge more for additional riders.
If you’re thinking about signing up for a Medicare Supplement, make sure to enroll during your three-month initial enrollment window, which begins three months before your birthday month and ends at the end of the month. This is the best time to do so, as you’ll have the option to avoid preexisting condition waiting periods. You can still sign up for a Medicare Supplement at any other time, but you may be subject to a health screening or face a higher premium.