Medicare supplemental plans are formulated by the government of United States. The costs and limits can vary among states and from one insurance company to another. The state of Washington has its own covers and limits. Here is an overview of Medicare supplemental insurance in Washington State.
Basic benefits of Medicare Supplemental Insurance in Washington State
Ten supplemental plans, named from A to N, are applicable in Washington. Given below is a summary of the coverage which has been active from January 2012. Plan C, which is also called the Medicare Advantage Plan, is the most popular supplemental plan in the state. The other popular plan is Plan F.
Out of pocket limit clause: Plans K and L have a yearly out of pocket limit clause. In 2012, the limit under Plan K was fixed at $4660 and under Plan M, the limit is $2330. After you reach this limit, the policy covers 100 percent medical expenses for the remaining year. Out of pocket expense includes Part B copayment as well. In 2012, this amount was $140.
Medicare Supplemental Insurance in Washington State: Statistics.
The number of people who own a Medicare supplement plan in Washington has reached 190,000. 20 percent of Medicare beneficiaries in Washington are supplement plan holders. Among the 20 percent of supplement plan beneficiaries, 53 percent hold Plan F which offers the most comprehensive cover. Plan F and Plan C beneficiaries form 62 percent of all the supplement plan beneficiaries. Average premiums for different plans range between $165 and $185. Plan F offers the lowest premiums.
Easy enrollment in the open period
After you reach 65 years of age and obtain Medicare insurance, you are offered six months as an “open enrollment period” for joining supplemental plans. If you apply within this period, the insurer cannot refuse your application. If you suffer some inherent health conditions, you have to wait six months, after which you are provided supplement cover. If you apply after the open period, you might not obtain a supplemental plan or might find it very difficult to purchase a policy.