Medicare Supplement insurance (also called Medigap) offers seniors coverage for out-of-pocket expenses associated with Medicare like copays and coinsurance, and even deductibles. The right plan adds to Original Medicare coverage, giving you peace of mind and confidence that when you need medical care, you can get it – no questions asked.
Medicare Supplement
Medicare Supplement insurance is a supplement to Medicare Parts A and B, meaning you’re still in the Medicare program, but have coverage for expenses that Original Medicare does not cover, like traditional out-of-pocket costs many seniors struggle with. In New Mexico, there are five plans available each with slightly different benefits.
Eligibility Requirements
To join a plan, you must be enrolled in Medicare Part A and Part B. Medigap is a guaranteed issue, during your initial enrollment period, meaning even with medical complications, you cannot be turned down. Plus, if you continue to pay your premium on time, your Supplement plan is renewable, even if you develop health problems.
Choosing the Best Plan
Medicare Supplement plans in New Mexico are offered through private insurance companies. Plans are standardized, meaning a plan “A” offered from one company must provide the same minimum benefits as a plan “A” from another company. However, price does not need to be the same and there is great variance between companies on not only cost, but also, trustworthiness, dependability, and reputation. If you’re considering your options, be sure to consider reliability and affordability as important factors in choosing a provider.
References:
www.medicare.gov
www.bcbsnm.com
MUC42-2017-BCBS
