If you have ever tried to find information on Blue Cross Medicare supplement insurance you may have been frustrated that you either couldn’t find the appropriate website for your State or that you landed on a website that required you to provide your personal information before you could do your research.
If you are looking for a rate quote you will eventually need to supply relevant information about yourself. But before you start learning about the premiums it’s nice to get the general information that helps you make an informed decision as to whether or not a Medicare supplement is the right choice let alone whether or not a Medicare supplement from Blue Cross Blue Shield is the way to go.
Many people begin looking for a Medicare supplement, also known as a Medigap policy, only to learn that they would rather enroll in a Medicare Advantage Plan. If this is the case there are several Blue Cross Medicare Advantage Plans to choose from.
The Blue Cross Blue Shield Association
Available Blue Cross Blue Shield Medicare supplements and their monthly premiums vary across the United States because the Blue Cross Blue Shield Association is a federation of 39 insurance companies and organizations in the United States.
For instance, if you reside in California you have Anthem Blue Cross or Blue Shield of California, in Florida the company is Blue Cross Blue Shield of Florida. The Association is made up of:
- Publicly traded companies
- Multi-State private companies
- Single-State or regional companies
Each company in the Blue Cross Blue Shield family of companies operates independently. Each company or organization decides which products to offer and what the premiums will be.
This explains why someone in Alabama insured under Blue Cross Blue Shield of Alabama may have a lower premium than someone in another State for the same standardized plan or why they do not have the same plan options as someone insured under Anthem Blue Cross Blue Shield in Nevada.
Standardized Medicare supplements
Medicare supplements are referred to as Medigap insurance because they fill the gap or otherwise pay your portion for Medicare covered expenses. Expenses are paid at varying levels depending on which Medigap policy you have.
With the exception of Massachusetts, Minnesota and Wisconsin which have their own variations of Medicare supplemental policies there are 10 standardized plans to choose from. Plans are labeled as; A, B, C, D, F, G, K, L, M, and N. In addition there is also a High deductible Plan F alternative.
In some States you can purchase a supplemental policy referred to as Medicare Select that utilizes a provider network. Otherwise a supplemental Medicare policy allows you to use any provider that accepts Medicare assignment.
It’s important to note that Medicare supplement policies no longer include prescription drug coverage. You will need to purchase a separate Part D Plan. People in most States will have approximately 30 stand-alone Part D plans to choose from. You can choose from one of the Blue MedicareRx Plans or another company. You are not required to have Part D coverage and your Medicare supplement from the same company.
Insurance companies are not required to offer all available plans. This is indeed the case with many Blue Cross Blue Shield companies that may only offer a few Medicare supplements. It is also true of many other companies that you may be aware of such as Mutual of Omaha or Humana.
If you are interested in purchasing a supplemental Medicare policy and you find that the standardized supplement that you would like is not available as a Blue Cross Medicare supplement you will need to look at other insurance companies.
The good news about shopping for a Medicare supplement is that the coverage is standardized and coverage is the same from company to company fore the same plan. If you have decided on Medicare Supplement Plan F because it is the most comprehensive it is easy to compare from one insurance company to the next.