The Best Medicare Supplement (Medigap) Plans in Colorado
- Before signing up for Medigap in Colorado, read our review of Medicare Supplement plans in the state. We have tips on finding the best Colorado Medigap plan for your needs.
Medicare Supplement Insurance, commonly called Medigap, is an optional add-on to Original Medicare. Nearly 208,000 Colorado residents, or one-third of those receiving Medicare benefits in the state, are enrolled in these private insurance plans.
Medigap works alongside your Medicare coverage and pays for costs not covered by the government's health plan. This includes deductibles and copays for hospital care, physician services, diagnostic tests and treatments. We've put together a review of Medigap plans in Colorado to help you understand how this health insurance works and ensure you get the best coverage for your budget and needs.
You can find Medicare Supplement plans where you live by comparing plans from several different insurance companies online.
What Are the Best Colorado Medicare Supplement Plans?
Insurance companies sell 10 different types of Medigap plans in Colorado, ranging from basic policies (Plan A) to more robust coverage (Plans F and G). This gives you the ability to find the right combination of benefits to meet your health needs.
|Medicare Supplement Benefits||A||B||C1||D||F1||G||K||L||M||N|
|Part A coinsurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B coinsurance or copayment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plans C and F are not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
2. Plans F and G also offer a high deductible plan which has an annual deductible of $2,490 in 2022. Once the annual deductible is met, the plan pays 100% of covered services for the rest of the year. The high deductible Plan F is not available to new beneficiaries who became eligible for Medicare on or after January 1, 2020.
3. Plan K has an out-of-pocket yearly limit of $6,620 in 2022. Plan L has an out-of-pocket yearly limit of $3,310 in 2022.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in an inpatient admission.
View an image version of this table.
The most common benefits include:
- Deductibles: Most Medigap plans in Colorado, except Plan A, cover the Medicare Part A deductible. This is the amount you spend on hospital costs before Medicare pays its share. Only Plans C and F cover the Part B deductible, but these are no longer sold to those eligible for Medicare after January 1, 2020.
- Coinsurance: Coinsurance is the portion you pay for services after you've met your Part A or B deductible. Most Colorado Medigap plans cover Part A coinsurance for hospital and hospice care and Part B medical coinsurance. Plan N covers 100% of Part B coinsurance, except for a few situations, such as emergency room visits that don't require you to be admitted as an inpatient.
- Foreign travel: Some plans, including Plans F, G and N, pay for emergency care if you're out of the country.
All plans in the same letter category provide the same coverage. Once you've selected the type of Medigap plan you need, you can see which insurance companies sell that particular plan in Colorado and compare the premiums and discounts offered.
How Do I Enroll in a Colorado Medigap Plan?
Seniors who are 65 and over have a six-month Medigap open enrollment period once they're signed up for Medicare Part B. This timing is important as you only get this window once. During this time frame, you can enroll in any Medigap plan sold in Colorado. Insurance companies can't deny you coverage or change your premiums based on your health. The plans are guaranteed renewable as long as you pay your premiums and maintain your coverage.
In some cases, you may not need Medigap right away because you're enrolled in Medicare Part C or have coverage through work. If this coverage ends, you may still have guaranteed issue rights to enroll in Medigap for 63 days.
On rare occasions, for example, your insurance provider may go bankrupt or leave Medicare. You might also move out of your Medicare Advantage service area or decide, within a year, that the Part C plan isn’t meeting your needs and that you want to return to Original Medicare. In these scenarios, guaranteed issue rights let you enroll in any Medigap policy without an insurer underwriting the policy.