The Best Medicare Supplement (Medigap) Plans in Wyoming
- Wyoming Medicare Supplement Insurance stretches your budget by covering some of the expenses that Original Medicare doesn't pay. Check out our review of Wyoming Medigap plans to learn more about this type of insurance.
Original Medicare pays for hospital care (Part A) and a wide variety of outpatient diagnostic and preventive services (Part B). Although Medicare coverage costs much less than what you would pay for a private plan, it doesn't pay for 100% of every covered service. For Part B services, for example, you typically have to pay 20% coinsurance for Medicare-approved services. You also have to pay deductibles, premiums and other out-of-pocket expenses. Wyoming Medicare Supplement Insurance gives you extra coverage, reducing your out-of-pocket costs and giving you more wiggle room in your budget.
Although Medicare Supplement Insurance has many benefits, less than half of Wyoming's Original Medicare enrollees carry Medigap coverage. In 2018, there were 51,281 Original Medicare enrollees on some type of Medigap plan — just 47% of the state's Original Medicare population. If you're interested in learning more about how Wyoming Medigap can help reduce your out-of-pocket medical expenses, check out the research below and use the information to determine which Medigap plan is right for you.
You can find Medicare Supplement plans where you live by comparing plans from several different insurance companies online.
What Are the Best Wyoming Medicare Supplement Plans?
The chart below lists the 10 Medigap plans available in Wyoming. Medicare Supplement Insurance is separate from Original Medicare, so you'll buy your Medigap plan from a private insurance company and pay a separate premium for your supplemental coverage. Although Medigap isn't part of the federally managed Original Medicare program, most states use the same standardization rules, so the plans available in Wyoming have the same benefits as the plans available in most other states.
The level of coverage offered depends on which plan you select. Some benefits are included in all 10 plans; for example, you get an additional year of hospital coverage with any Wyoming Medigap plan. Depending on which plan you choose, Medigap may cover anywhere from 50% to 100% of copays for Part B services.
When you shop for Medigap coverage, you must compare plans based on their coverage and monthly premiums. Plans F and G have some of the lowest premiums, making them a good option if your budget is tight and you don't want to commit to a higher monthly premium. Although Plan F is no longer available for Medicare enrollees who became eligible after January 1, 2020, you can still enroll in Plan G to take advantage of the low premium amount.
Many people like Plan N for its expansive coverage. You may pay a little more in premiums, but you also get more benefits. For example, Plan N picks up 100% of every Medicare copay. Your plan may charge its own copays for certain services, but these copays are usually limited to $20 for a medical appointment or $50 for emergency care, which is much less than you would pay without Medigap coverage.
How Do I Enroll in a Wyoming Medigap Plan?
To enroll in a Wyoming Medigap plan, you must be enrolled in Medicare Part A and Medicare Part B. Once you sign up for Medicare Part B, you'll enter your Medigap initial enrollment period, a six-month period in which you have guaranteed issue rights for any Medigap plan of your choice. "Guaranteed issue" means that an insurance company must issue you a policy, without regard for your medical history or other risk factors. During your Medigap initial enrollment period, an insurance company can't charge you more because you have a pre-existing condition, and it can't deny your application based on your medical history.
It's important to sign up during your Medigap initial enrollment period; otherwise, your guaranteed issue rights may go away. Once your guaranteed issue rights expire, insurance companies can use underwriting to determine if you're a high-risk applicant. Based on your risk level, a company may charge you more money for coverage, or it may refuse to cover you at all. Therefore, missing the Medigap initial enrollment period can leave you without supplemental coverage, or it could result in a substantial increase in your monthly premium amounts.
Although guaranteed issue rights usually expire once your Medigap initial enrollment period ends, there are a few exceptions to the guidelines outlined above.
- If you don't enroll in Medicare Part B as soon as you turn 65 because you have some other type of health coverage, your Medigap initial enrollment period won't start until you sign up for Medicare Part B.
- Your insurance company may impose a six-month waiting period if you have any pre-existing conditions, meaning it won't pay for services related to any of those conditions until six months from the effective date of the policy. If you have asthma, for example, your Medigap plan may make you wait six months before it covers nebulizer treatments or other asthma-related care.
- If your current health plan covers your pre-existing conditions, and it has done so for at least six months, your Medigap provider may waive the waiting period.
- Sometimes, people lose their Medigap coverage through no fault of their own. If this happens to you, you can sign up for a different Medigap plan without having to go through the underwriting process.
- If you tried Medicare Advantage and decided you would rather have Original Medicare, you retain your guaranteed issue rights as long as you switch to Original Medicare within the year.