Indiana's Best Medicare Supplement Plans & Companies
If you're a resident of Indiana currently enrolled in Original Medicare, you have the option to bolster your Part A and Part B coverage with Medicare Supplement Insurance (Medigap plans). In Indiana, there are ten distinct plan options, each designed to cover various out-of-pocket expenses.
In this article, we delve into the top Indiana Medigap plans and insurance companies for plan year 2024.
Table of Contents
What You Need to Know
- Private insurance companies offer Medicare Supplement Plans in Indiana, not the government.
- Medicare Supplements are available in 10 different plan options, labeled A through N. Each plan offers a different level of Medicare coverage.
- Medicare Supplements are available to Indiana residents at age 65.
- All plans offer coverage for Medicare Part A coinsurance and hospital costs, Medicare Part B copayments or coinsurance, and the first three pints of blood.
- Most plans cover the Medicare Part A deductible and Skilled Nursing Facility coinsurance.
- Medicare Supplements do not cover long-term care, vision, dental, hearing aids, or private-duty nursing.
- Average costs for a 65-year-old vary widely based on gender, tobacco use, where you live in Indiana, and the coverage you choose.
- Medicare Supplements are not health insurance. They are indemnity insurance and have their own rules.
The 5 Best Indiana Medigap Plans
There are ten different Medicare Supplement Plans. These plans are labeled A through N and are standardized by the federal Medicare program.
The top-rated plans in Indiana for 2024 include Medicare Supplement Plan F, Plan C, Plan D, Plan G, and Plan N. They are considered the best because they provide the most extensive coverage.
Which one of these plans is the best choice for you?
HELPFUL READING: Medicare Plan G vs Plan N: Which is Better?
An easy way to quickly understand the ten plans is to refer to a Medigap plan chart. This chart illustrates how each policy helps cover the Medicare Part A and Medicare Part B out-of-pocket costs (deductibles, coinsurance, and copayments) for Indiana residents.
How to Choose the Best Medicare Supplement Plan in Indiana
Individuals covered by Medicare have unique requirements. Your age, gender, Indiana zip code, utilization of medical services, choice of healthcare providers, emergency care needs, as well as your requirements for supplies and durable medical equipment all contribute to the factors you should take into account.
These elements are essential as they significantly impact your available plan choices. It's crucial to thoroughly evaluate your outpatient and inpatient care needs as part of this consideration.
When Best = Most Comprehensive Coverage in Indiana
Most Medicare experts agree Plan G is the optimal choice for Indiana beneficiaries enrolling in Medicare with one or more chronic health conditions. It provides the highest level of coverage available for those who become eligible for Medicare on or after January 1, 2020.
IMPORTANT: While offering more extensive coverage than Medicare Supplement Plan G, Plan F comes with a notably higher cost and is exclusively available to those who qualified for Medicare before 2020.
- Get Plan F and Plan G Quotes in Your Zip Code
- See All Companies Offering Plan F in Indiana
- See All Companies Offering Plan G in Indiana
When Best = Good Coverage & Monthly Savings
If you are enrolling in Medicare and find yourself in excellent health or require solid coverage but have budget constraints that prevent you from considering Plan G, Medicare Supplement Plan N presents a viable alternative. Plan N provides comprehensive coverage throughout Indiana for inpatient hospital stays and most medical expenses.
Plan N is particularly suitable for individuals in good health because it involves cost-sharing. In return for lower monthly premiums, participants in this plan contribute a nominal copayment. For doctor office visits there's a $20 copay. If you use the emergency room you'll pay up to $50.
When Best = Most Affordable Coverage in Indiana
Not everyone in Indiana needs or can afford comprehensive coverage. When your monthly premium amount is a concern, ask your insurance agent to advise you on Medicare Supplement Plan K and High Deductible Plan G (HDG).
These are the two lowest-cost plans available. Many savvy Indiana seniors prefer these plan options over a Medicare Advantage plan.
Does Indiana have Plan A, B, C, D, L and M?
Medicare Supplement Plan A represents the most fundamental coverage available. Surprisingly, in many areas of Indiana, its cost exceeds that of Plan N. Why pay more for less?
Medicare Supplement Plan C and Plan D provide coverage similar to Plan G but come at a higher cost. Additionally, similar to Plan F, Plan C is exclusively accessible to Indiana beneficiaries who enrolled in Medicare prior to 2020.
It's worth noting that only a select few insurance companies in Indiana offer Plan L or Plan M.
Health Insurance Company vs. Life Insurance Company: Which is Best?
Every Medigap insurance carrier operating in Indiana must adhere to federal and state insurance regulations. They can't deviate from the standardized plans designated by letters A through N.
To give an example, a Plan F policy from Aetna Medicare provides identical coverage and benefits (same out-of-pocket costs covered) as a Plan F policy from Mutual of Omaha, United Healthcare, Humana, Cigna, or Blue Cross Blue Shield. This standardization simplifies the process of comparing Medigap plans.
The most important difference is the strength and quality of insurance company standing behind the plan and how they rate their plan for premium increases. It's crucial to research a company's Medicare Supplement rate increase history before making a final decision.
Indiana state laws may impose enrollment and rating limitations on carrier. For detailed information, refer to the Indiana Department of Insurance website at http://www.in.gov/idoi.
Medicare Supplement Plan F Companies in Indiana
Medicare Supplement Plan F (Medigap Plan F) is Indiana’s most popular Medigap plan. Here are the 10 best companies that offer Plan F policies in Indiana based on our reviews (click for details):
Required Benefits of Plan F in Indiana
Medigap Plan F is standardized like all Medicare Supplement Plans in Indiana. Insurance carriers are required to cover certain benefits. Plan F is the most comprehensive plan because it covers all gaps in Original Medicare.
Although Original Medicare does not cover foreign travel medical emergencies, Plan F does (up to 89%). In addition to this extra benefit, companies may offer limited additional features. One example is Physician Mutual’s Preventive Care and Hearing Loss Testing benefits.
Medicare Supplement Plan G Companies in Indiana
Medicare Supplement Plan G (Medigap Plan G) is rapidly gaining popularity with Indiana seniors. With Plan F no longer available to new Medicare beneficiaries, Plan G is the new gold standard. Here are the 10 best insurance companies that offer Medigap Plan G policies in Indiana based on our reviews (click for details):
Required Benefits of Plan G in Indiana
All Medigap plans in Indiana, including Medigap Plan G, are standardized. Insurance companies must provide the standard coverage. Plan G covers all gaps in Original Medicare except the Part B deductible. And it only covers 80% of foreign travel medical emergencies that fall within your policy’s limits.
Companies may offer additional features like UnitedHealthcare’s fitness program, Renew Active, or the Silver Sneakers fitness program.
Medicare Supplement Plan N Companies in Indiana
Medicare Supplement Plan N is similar to Plan D (not to be confused with Medicare Part D) but covers Medicare Part B coinsurance costs differently. Due to its lower cost and good coverage, it's catching the attention of many Arizona seniors. Here are the 10 best insurance companies that offer Medigap Plan N policies in Indiana based on our reviews (click for details):
Required Benefits of Plan N in Indiana
All Medicare Supplement Plans in Indiana are standardized, including Medigap Plan N. Like Plan G, Plan N does not cover the Part B deductible. It also does not cover Part B excess charges. But it does cover 80% of foreign travel medical emergencies up to the policy’s limits.
Medicare limits the types of extra benefits companies can offer. One excellent additional benefit is UnitedHealthcare’s NurseLine, which lets you talk to an experienced nurse, day or night.
Medicare Eligibility and Your Medigap Open Enrollment Period
You can apply for Medigap coverage in Indiana during your Medigap Open Enrollment Period (OEP). Your OEP is a six-month period that begins when you enroll in Medicare Part B. Your Medicare eligibility date will determine which plan types are available to you.
Federal law grants you guaranteed issue rights during your Medigap Open Enrollment Period. You can get a Medicare Supplement Plan during this period, regardless of your health history and chronic health conditions. You cannot be turned down, and you can go with the company of your choice, so long as they sell policies in Indiana.
Indiana Medigap plan enrollees require the assistance of a licensed insurance agent. If you don't have an insurance agent, we recommend HealthCompare, an Allstate company. Call them at 1-855-728-0510 (TTY 711). They work with all of the top Indiana insurance companies. There's no obligation.
Is a Medicare Supplement Insurance Plan Right for You?
Consider a Medicare Supplement Insurance Plan If:
- You anticipate the need for frequent healthcare services, both presently and in the future, and wish to limit deductibles and co-pays.
- You have the financial means to afford the monthly premiums associated with Medicare Supplement Insurance, and you do not qualify for Medicaid.
- You value the flexibility to select your healthcare providers and doctors under Medicare without any network restrictions.
- You require nationwide coverage or have plans to travel abroad.
- You are in your Initial Enrollment Period and possess guaranteed issue rights, enabling you to join a Medigap plan regardless of your current health condition.
- You prefer not to enroll in a Medicare Advantage plan and want to avoid the complexities of referrals and pre-authorization for healthcare services.
Consider Alternatives to a Medicare Supplement If:
- You do not anticipate needing frequent healthcare services at present or in the future.
- You missed your Medigap open enrollment period and cannot pass medical underwriting to obtain your preferred Medigap policy.
- You prefer a Medicare Advantage plan with low or zero monthly premiums.
- You have Medicaid, TRICARE, VA benefits, retiree benefits, or other coverage options that cover most of your Medicare out-of-pocket expenses.
- You favor an HMO or PPO plan, coupled with a Part D prescription drug plan, Silver Sneakers, and routine dental, vision, and hearing care.
- You can comply with the rules and limitations of a Medicare Advantage plan.
Alternatives to Indiana Medicare Supplement Plans
If you've determined that a Indiana Medicare Supplement Plan isn't the best choice for your situation, or if none of the 10 plan types align with your budget, you have several alternative options to consider:
- You can choose to stick with Original Medicare, add a Medicare Part D plan to cover prescription drugs, and be responsible for all Part A and Part B deductibles, coinsurance, and copayments out-of-pocket.
- If you meet the qualifications for both Medicare and Medicaid or have a serious health condition, enrolling in a Medicare Advantage Special Needs Plan may be the best alternative.
- For individuals with VA health benefits, using healthcare services exclusively from the nearest VA hospital is an option. In such cases, the VA will bill Medicare and cover the remaining costs.
- Consider enrolling in a Medicare Advantage Plan with a low maximum out-of-pocket (MOOP) limit and affordable deductibles and copayments.
Your Medicare coverage decision is a crucial one, and it can greatly influence your healthcare and financial stability. It's essential to evaluate your individual requirements and priorities carefully. If you find yourself seeking more information or guidance on the choices accessible to you in Indiana, don't hesitate to reach out to our preferred agency, HealthCompare, at 1-855-728-0510 (TTY 711). They can provide personalized support, ensuring that you make an informed choice that aligns with your unique healthcare needs and preferences.
Next Steps
The next step is to get a FREE Medigap Rate Comparison Report. It will arm you with all of the information you need to make an informed decision.
Get Your Free Medicare Supplement Rate Comparison
MedicareWire is a Medicare consulting agency. We are not insurance agents. Our job is to help people navigate Medicare without marketing interference.
Our free report will show you rates from all carriers without a sales pitch. No Calls. No Email Spam. No Kidding!
If you would prefer to speak with an agent, our preferred, nationwide agency is HealthCompare, an Allstate company. Give them a call at 1-855-728-0510 (TTY 711).
Citations & References
- Costs of Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- What's Medicare Supplement Insurance (Medigap)?, Medicare.gov, Last Accessed October 4, 2023
- Find a Medigap policy that works for you, Medicare.gov, Last Accessed October 4, 2023
- How to compare Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- How Original Medicare works, Medicare.gov, Last Accessed October 4, 2023
- Your Medicare coverage choices, Medicare.gov, Last Accessed October 4, 2023