Medicare Supplement Plans in Colorado
Medicare Supplement (or Medigap) plans in Colorado are offered by private insurance companies. They’re designed to help pay for costs that you incur under Original Medicare. You may have several Medigap plan options, depending on the part of Colorado you live in.
What is Medicare?
Medicare is a health insurance program for: people age 65 or older; people under age 65 with certain disabilities. The program is run by the Centers for Medicare & Medicaid Services. Medicare has two parts:
- Hospital Insurance (Part A). This is hospital insurance. Part A covers inpatient hospital stays, hospice care, skilled nursing care, and limited home health-care services.
- Medical Insurance (Part B). This part of insurance covers medical services and supplies such as preventive services, durable medical equipment, and ambulance services.
Pricing for a Medicare Supplement insurance plan in Colorado
Pricing for Medicare Supplement plans in Colorado varies by company. Companies can set their pricing in any way:
- Community-Rated: Everyone is charged the same monthly premium, regardless of age;
- Issue-Age-Rated: The pricing is determined by the beneficiary’s age at the time of enrollment and remains the same from that moment;
- Attained-Age-Rated: Beneficiaries pay a certain monthly premium when they first enroll in Medicare, based on their age. Premiums increase with the beneficiary’s age.
Top 10 Medicare Supplement Insurance Companies in 2020
- Aetna Medicare Supplements;
- Combined Medicare Supplements;
- Mutual of Omaha Medicare Supplements;
- Manhattan Life Medicare Supplements;
- Bankers Fidelity Medicare Supplements;
- Cigna Medicare Supplements;
- Anthem Medicare Supplements;
- United Healthcare Medicare Supplements;
- Blue Cross Blue Shield Medicare Supplements;
- Transamerica Medicare Supplements.
Types of Medigap plans in Colorado
- Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted;
- Medicare Part A hospice care coinsurance or copayment;
- Medicare Part A deductible;
- Medicare Part B deductible;
- Medicare Part B copayment or coinsurance;
- First three pints of blood;
- Skilled nursing facility care coinsurance;
- Foreign travel emergency coverage (up to plan limits);
- Medicare Part B excess charges.
We recommend that you compare all Medicare Supplement plans in Colorado and then make the best choice based on your budget and health needs.