Medicare Supplement Plans
Once enrolled in Medicare A & B, you can enroll in a Medicare supplement plan and Part D prescription to reduce your out-of-pocket expenses. Plans A - N also known as Medigap plans, are offered by private insurance carriers such as AARP, Aetna, Accendo, Humana, Bankers, Mutual of Omaha, Transamerica, CIGNA etc. Each carrier varies in which standardized plan they offer but plan benefits are the same carrier to carrier.
Medicare Supplement - Plan G
Switching to Medigap During the Medicare Advantage Disenrollment Period
The Medicare Advantage Disenrollment Period runs from Jan 1 - Feb 14th each year. During
this time you can leave your Medicare Advantage plan and return to Original Medicare, join a Medigap/Supplement plan + Part D Prescription drug plan. However, you should make sure you
are approved by your Medigap plan before enrolling.
Here’s what you will want to do if you want to switch to Medigap (medicare supplement):
1) Do not disenroll from Medicare Advantage until you are approved for Medigap
2) Apply for a Medigap plan for a February 1 or March 1 start date
3) Once approved for Medigap, choose your Part D: Prescription drug plan with a coinciding start date
4) Once you enroll in your prescription drug plan you will be automatically dropped from your MA plan
Christopher S. Kudryk
KBenefits provides insurance solutions for small business owners and individuals in NJ & NY. Contact KBenefits today and see how we can benefit you.
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