What is a Medicare Supplement Plan?

Once you reach your 60’s, there are some life decisions you’ll need to make. In addition to deciding when you’ll retire, you’ll want to start considering your options for Medicare.

If you’re approaching your 65th birthday and starting to research options for Medicare, navigating through all of your new health care choices can be overwhelming. In addition to enrolling in a Medicare plan to meet your anticipated needs, you’ll also have to decide if a Medicare Supplement plan is right for you.

At Erie Insurance, we’re here to help. Here are some things you should know when considering a Medicare Supplement plan from Erie Family Life Insurance Company.

What Is a Medicare Supplement Plan (Medigap)?

Medicare Parts A and B provide insurance coverage for health-related expenses, but they don’t cover all of the health care costs you may have. A Medicare Supplement plan, sometimes called “Medigap,” is a private insurance policy that can help pay for some of the health care costs that Medicare doesn’t cover. This can include out-of-pocket expenses such as copayments, coinsurance and deductibles.

With health care and out-of-pocket costs for Medicare participants on the rise, a Medicare Supplement plan can help set your mind at ease.

What Does a Medigap Plan Cover?

Medigap plans are designed to help pay for the costs that you would normally pay out of your own pocket. But the costs and benefits will depend on which Medicare Supplement plan you select.

Erie Family Life Insurance Company offers supplemental insurance plans designed to meet your needs and fit your budget. They include:

• Plan A: This plan includes basic benefits to help with copayments for services covered under Medicare Parts A and B.
• Plan B:  This plan provides the same benefits as Plan A but also pays your Medicare Part A hospital deductible.^[1] (ERIE only offers this plan in Pennsylvania.)
• Plan F: This plan offers the most coverage of all our Medicare Supplement plans. It covers all out-of-pocket costs for medical expenses covered by your Medicare Supplement insurance. As of Jan. 1, 2020, this plan is no longer available to those becoming newly eligible for coverage.^[2]
• Plan G: For new Medicare enrollees that turned 65 after January 1, 2020, Plan G is the go-to plan. It includes the same basic benefits as Plan F, including Part B excess charges and Foreign Travel Emergency coverage.^[3] (Coverage limited to 80%. Policyholder is responsible for their coinsurance and any applicable Part B deductible amount.)
• Plan N: This is our middle-of-the-road coverage offering. Under Plan N, you’ll pay a lower premium in exchange for taking on a small annual deductible and some copayments. It covers your Medicare Part B copays, as well as your hospital deductible, copays and coinsurance.^[4]
• Wisconsin only: Basic Plan with riders available

Am I Eligible for a Medicare Supplement Plan?

You can apply for a Medicare Supplement plan policy if you are age 65 or over and enrolled in Medicare Parts A and B. The one-time Open Enrollment period, which begins on the first day of the month an individual is 65 or older and enrolled in Part B, provides for guaranteed issue. Individuals under 65 eligible for and enrolled in Part B are not eligible for guaranteed issue unless they have lost or are losing creditable coverage. In some states, Medigap insurance policies are available to people with disabilities who are under the age of 65.^[5] The general Medicare Supplement enrollment period extends from January through March. To enroll in Medicare Advantage and Prescription Drug Plans, the open enrollment period extends from October 15 to December 7.

How Do I Enroll?

To enroll in a Medicare Supplement plan, contact an ERIE agent or find a local agent near you. Be sure you have your Medicare ID card ready. (Available plans vary by state.)

An ERIE agent can help answer questions and determine which Medigap plan and pricing best meet your needs.

Home Office: 100 Erie Insurance Place, Erie, PA 16530; toll-free at 1-800-458-0811. ERIE® life and health insurance products and services are provided by Erie Family Life Insurance Company. Information regarding additional terms, conditions, exclusions, licensure and territory information is available at erieinsurance.com/medicare-supplement. Eligibility for insurance coverage will be determined at the time of application, based upon applicable underwriting guidelines and rules in effect at that time. In some states, Medicare Supplement policies are available to disabled individuals under the age of 65. Not all plans are available in all states. ERIE Medicare Supplement insurance is not available in the District of Columbia and New York. This is a solicitation of insurance. An agent (or the company) may contact you. Erie Family Life does not sell Medicare Advantage plans.

Ohio: You may verify that the agent is licensed by contacting The Ohio Department of Insurance, 50 West Town St., Suite 300, Columbus, OH 43215, toll-free at 1-800-686-1526

Tennessee: Medicare Supplement policy forms for Tennessee: EFLMS3003 9/17 (A) TN; EFLMS3009 9/17 (F) TN; EFLMS3014 9/17 (G) TN; EFLMS3019 9/17 (N) TN.

Maryland: Medicare Supplement policies are available to disabled individuals under the age of 65.

Not connected with or endorsed by the U.S. Government or the Federal Medicare program.