Washington Medigap plans are the same type of supplemental insurance coverage plans that are offered all over the country to help cover Medicare-eligible expenses that are not paid by Original Medicare.
Original Medicare healthcare insurance coverage may pay for a large chunk of medical expenses, but there may be a lot of remaining medical expenses to be paid by the insured even after Medicare has paid a portion of these expenses.
Each state provides these supplemental policies, also known as Washington Medicare Supplement plans. Costs may vary, and there may be certain issues regarding previous health conditions and the need for a health assessment before a policy is issued.
Washington Medigap Plans
There are 10 different Medigap policies that can be purchased to supplement Medicare health insurance. These ten policies are labeled as “plans” with a designating letter “A” through “N”. Different plans offer different benefits.
Each specific plan provides standardized benefits that are exactly the same, no matter which insurance policy carrier provides the coverage. This means that a specific plan has to offer the same benefits no matter who provides the coverage.
Keep in mind that not all states make it mandatory for carriers to offer supplement plans to those who are under 65 years old. Washington doesn’t make it mandatory, however, carriers will still offer the plans to those beneficiaries under 65. Call one of our Washington licensed agents for more information.
Washington Medicare Spending & Distribution Info:
- Spending in 2014:
- The state spent over 10 million dollars on Medicare
- State enrollees spent an average of $9,000 on Medicare
- Between 1991 – 2014:
- The average annual percent growth in state spending was 7.6%
- The average annual percent growth per enrollee in the state was 4.8%
- Distribution by gender in 2015 was 49% male and 51% female
State of Washington Medigap Insurance Policy Providers
State of Washington Medigap insurance policies are sold through more than 15 different insurance carriers. These carriers are not obligated to offer every available letter plan.
According to Garet Haynes, a licensed agent, some insurance providers will offer just 3 or 4 of the plans, while other companies will offer more. The price for each policy differs between insurance carriers, though the benefits for each designated policy will remain the same, even between different providers.
This means that an individual may pay more for the exact same insurance depending on the insurance coverage provider. The rates charged by different providers may be based on several factors about the applicant, including:
- Lifestyle choices
- Geographic location
- Health problems
In addition, each Washington State Medigap insurance company uses a different pricing system, including those that are community-based with the same rates no matter an individual’s age, attained-age pricing that increases with age, and issue-age pricing that uses the age of an individual when coverage is first purchased. Any of these policy costs may go up with inflation but attained-age policies also go up each year due to the individual’s age.
Special Requirements for Medigap Plans in Washington State
Unless the insured meets special conditions or is in their Open Enrollment Period, the insurance company doesn’t have to approve coverage. Individuals must apply for coverage, which typically includes a form of health screening. Some insurance carriers also have special requirements for pre-existing conditions.
Selecting the Right Washington State Insurance Medigap Plans
Before purchasing any of the Washington State insurance Medigap plans, it can be helpful to check around at what different insurance providers are charging for different plans. However, the first step would be to decide which specific plan would best that meet the needs of the individual.