Best Vermont Medigap Medicare Supplement Plans
Table of Contents
What Are Medigap Plans?
A Medicare Supplement plan can help you pay some out-of-pocket costs in Medicare Part A and Part B (Original Medicare). In this article, you'll learn what Medigap plans in Vermont cost, which plans are available, when and how to enroll (without underwriting), what gaps they cover, and how you can get premiums and discounts on all Medicare plans where you live.
What You Need to Know
- Medicare Supplement plans in Vermont are offered by private insurance companies and are designed to help cover some of the out-of-pocket costs not covered by Original Medicare.
- Plans are standardized, meaning each plan letter offers the same basic benefits regardless of the insurer.
- Medicare Supplements are available to Vermont residents at age 65 and over who have enrolled in both Medicare Part A and Part B.
- 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.
- Supplements do not cover long-term care, vision, dental, hearing aids, or private-duty nursing.
- Supplements are available in 10 different plan options, labeled A through N.
- Medicare SELECT plans require enrollees to use a local Vermont provider network.
- Some Medicare Supplement insurers offer a household discount when both you and your spouse have a policy.
Do You Need Supplemental Insurance in Vermont?
The way Original Medicare (Part A and Part B) is designed, it pays about 80% of medically necessary healthcare costs. That leaves the remaining 20% for the Medicare beneficiary to pay through deductibles, coinsurance, and copays. Without additional coverage, these out-of-pocket costs can add up quickly.
Each time you use a Medicare-approved healthcare service, you pay a deductible, co-payment, or coinsurance. Due to the sky-high healthcare costs in Vermont, if you are hospitalized, these costs are considerable.
To illustrate, Medicare Part A's benefit period deductible is $1,600. You pay this each time you are hospitalized unless you're readmitted within 60 days for the same issue. Plus, you're responsible for 20% of all Part B medical costs while you're an inpatient.
This is where Vermont Medicare Supplement plan coverage comes in. Supplements, also called Medigap plans, pay many of the out-of-pocket costs in Original Medicare. So, if you're wondering, "What is Medigap?", it's gap coverage.
More Info: 7 Reasons You Need Supplemental Insurance with Medicare
Is a Medicare Supplement Right for You?
Yes, if you:
- Expect the need for frequent healthcare services now and/or in the future and want to limit your deductibles and co-pays.
- Can afford the monthly premiums of Medicare Supplement insurance and don't qualify for Medicaid.
- Want the freedom to choose your doctors and other Medicare providers without network restrictions.
- Need nationwide coverage and/or travel abroad and need coverage for emergency care.
- Are in your initial enrollment period and have guaranteed issue rights to join a plan regardless of your health condition.
- Don’t want a Medicare Advantage plan and the hassle of referrals and pre-authorization to receive services.
No, if you:
- Don’t expect the need for frequent healthcare now or in the future.
- Missed your Medigap open enrollment period and can't pass medical underwriting to get the Medigap policy you want.
- Want a Medicare Advantage plan with low or no monthly premiums.
- Have Medicaid, VA, retiree benefits, or other coverage options that will pay for most of your Medicare out-of-pocket expenses.
- Prefer an all-in-one HMO or PPO plan that includes a Part D prescription drug plan, SilverSneakers, and routine care for dental, vision, and hearing.
- Can adhere to the rules and restrictions of a Medicare Advantage.
What Does Supplemental Medicare Insurance Cover?
Every Medigap insurance company in Vermont is required to follow both federal and state insurance laws. Carriers must offer the standardized Medicare plans identified by letters A through N.
For instance, a Plan F from Aetna Medicare has the same coverage and benefits as a Plan F from Mutual of Omaha, AARP Medicare, United Healthcare, Humana, Cigna, or Blue Cross Blue Shield. This is why Medigap plans are easier to compare than Medicare Advantage plans.
Medigap policies may include the following benefits:
- Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
- Part A inpatient deductible
- Part A hospice care coinsurance or copayment
- Skilled nursing facility care and hospice care coinsurance
- Part B deductible
- Part B coinsurance or copayment
- Part B excess charges
- The first three pints of blood
- Foreign travel emergency services
- Out-of-pocket limits
The plan comparison chart below is the best way to compare Medicare Supplement coverage options.
There are two high-deductible plan types, Plan F and G. If you enroll in a high-deductible plan, you pay all Part A and Part B out-of-pocket costs up to the annual deductible amount.
Related: How High Deductible Plan G Works
Insurance carriers are free to choose their plans, although Vermont state laws might affect which ones they can offer. For more information, visit the Vermont Department of Insurance website at http://www.dfr.vermont.gov/.
Top 3 Medigap Plans Sold in Vermont
A Medigap plan is gap coverage you can buy from a private insurance company. A Medigap policy will lower or eliminate your hospital coverage (Medicare Part A) and medical coverage (Medicare Part B) costs.
The three best-selling Medigap plans in Vermont are Plan F, Plan G, and Plan N, the latest plan. The coverage they provide is what makes them the most popular. They offer the best protection against Original Medicare's out-of-pocket costs.
Plan F covers all gaps in Original Medicare. Plan G covers all gaps except the Part B deductible. And Plan N doesn't cover the Part B deductible or Part B excess charges. It also has a small copay when you see your doctor or use the emergency room.
NOTE: You do not qualify for Plan F if you became eligible for Medicare on or after January 1, 2020. Plan G is the most comprehensive coverage new Medicare beneficiaries can buy. The good news is that Medicare G plans cost less than F, even when you factor in the deductible Plan G does not cover.
Looking for a different Medigap plan? Ask us for free quotes on the top Medigap plans that interest you in your location.
Top 10 Plan F in Vermont
Medicare Supplement Plan F is the most popular Medigap plan available in Vermont. Here are the 10 best Plan F policies available in Vermont based on our reviews (click for details):
Top 10 Plan G in Vermont
Medicare Supplement Plan G is rapidly gaining popularity with Vermont seniors. With Plan F no longer available to new Medicare beneficiaries, Plan G is the new gold standard. Here are the 10 best Medigap Plan G policies available in Vermont based on our reviews (click for details):
Top 10 Plan N in Vermont
Medicare Supplement Plan N is similar to Plan D, but covers Medicare Part B coinsurance costs differently. Due to its lower cost and good coverage, it's catching the attention of many Vermont seniors. Here are the 10 best Medigap Plan N policies available in Vermont based on our reviews (click for details):
Cost of Medicare Supplements in Vermont
The official Medicare website has a Medicare Supplement plan finder tool that shows you the cost of supplemental Medicare insurance in Vermont. But it's just a range. What the tool does not give you is the exact premium, rate increase history, rating scores, and household discounts.
Our FREE Medicare Supplement Plan Rate Quote Service is the best way to get the exact monthly premium for all carriers, household discounts, AM Best ratings, Medicare Supplement rate increase history, and more.
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).
How to Choose the Best Medigap Plan
The cost of healthcare in Vermont continues to rise and everyone's needs are different. Age, sex, zip code, use of medical services, providers, emergency care, supplies, and durable medical equipment all play a part in what you need to consider.
Let's explore how to find the best coverage for you.
When "Best" Means "Most Coverage Available"
If you are signing up for Medicare with chronic health issues, or if you have done a good job saving for your retirement, most experts agree that Plan G is the best option in Vermont. It offers the most coverage you can buy if you're getting your Medicare benefits in 2023.
When "Best" Means "Good Coverage and Monthly Savings"
If you are signing up for Medicare in excellent health, or if you need good coverage but can't handle the cost of Plan G, Plan N is a good option. Plan N offers comprehensive inpatient coverage for hospital stays, while also covering most medical care expenses.
When "Best" Means "Lowest Cost Coverage"
Not everyone in Vermont can afford or needs the comprehensive coverage provided by Plans F, G, and N. When the amount of your monthly premium is a concern, ask your insurance agent to give you advice about Plan K and High Deductible Plan G (HDG). These are the two lowest-cost plans available.
Medicare Supplemental Insurance Eligibility
You can apply for Medigap coverage in Vermont during your Medigap Open Enrollment Period (OEP). Your OEP is a six-month time period that begins when you enroll in Medicare Part B at age 65.
Federal law grants you guaranteed issue rights during your Medigap Open Enrollment Period. You can get the Medicare Supplement plan you want, regardless of any chronic conditions.
After your Medigap open enrollment period has ended, it is harder to get a Medicare Supplement policy. It's one of the few disadvantages of Medicare Supplement plans.
Insurance companies can ask questions about your health, charge you higher premiums, reject your application, or refuse to cover you due to your medical history. They can also make you accept a waiting period of six months before coverage starts.
NOTE: Unless you have Social Security Disability Insurance benefits, the earliest age to get Medicare is age 65.
Vermont Enrollment Process for Medicare Supplements
Vermont Medigap plan enrollees require the assistance of a licensed insurance agent. Before you can apply, you need to be enrolled in both Medicare Part A and Part B. You can do this through the Social Security Administration website, or by calling them directly at 800-772-1213.
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 major Vermont plans. There's no obligation.
Another option is your local SHIP. The State Health Insurance Assistance Programs (SHIPs) provide free, one-on-one insurance counseling and assistance to Medicare beneficiaries. Vermont's SHIP is available by phone (1-800-642-5119 (in state only); 802-865-0360 (out of state)) or through their website.
Adding a Medicare Prescription Drug Plan
In the past, Medicare Supplements sold in Vermont were allowed to add extra benefits, including prescription drug coverage. This is no longer the case.
The only way to get coverage on prescriptions with a Medigap policy now is to get a Vermont Medicare Part D plan. In most areas of Vermont, basic prescription drug plans start at less than $20 per month.
Vermont Medicare Supplements vs. Medicare Advantage
It's natural to compare the best Medigap insurance with other health insurance plans, like Medicare Advantage. On the surface, Medicare Advantage plans appear to cost less. And, in some cases, they do save money. However, the out-of-pocket expenses in most Vermont Medicare Advantage plans are as much or more than Original Medicare.
Original Medicare does not have an out-of-pocket maximum. However, all health insurance companies offering Medicare Advantage plans are required to set an annual out-of-pocket limit, up to the annual limit set by CMS. A Medigap plan's coverage creates an out-of-pocket limit for Original Medicare.
Can I Get a Policy If I'm On Medicaid in Vermont?
It is not legal for a health insurance company or insurance agents licensed in Vermont to sell individuals a Medigap policy if you have Medicaid benefits.
If you can't afford a Medigap plan or the co-insurance costs in Medicare Advantage policies, there is a third option. Many areas of Vermont have access to dual-eligible Medicare Special Needs Plans (D-SNP). If you qualify for both Medicare and Medicaid, a Vermont Special Needs Plan plan might be your best option.
What About Dental, Vision, and Hearing Benefits?
We all need routine dental care and dental restoration work as we age, but it's not covered by Original Medicare or a Medigap plan. For coverage, you'll need a stand-alone Vermont dental insurance policy.
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).
Frequently Asked Questions (FAQs)
Medicare Supplement Plan G premiums vary per. Premiums are based on things like your age, gender, zip code, use of tobacco, and more. We offer a Free Medicare Plan Quote Service to help you find the lowest price available on Plan G in Vermont.
Here are your top choices in Vermont:
- Globe Life
- Mutual of Omaha
- Colonial Penn
- Loyal American
Citations & References
medicare.gov- Costs of Medigap policies, Medicare.gov, Last Accessed February 2, 2023
- What's Medicare Supplement Insurance (Medigap)?, Medicare.gov, Last Accessed February 2, 2023
- Find a Medigap policy that works for you, Medicare.gov, Last Accessed February 3, 2023
- How to compare Medigap policies, Medicare.gov, Last Accessed February 3, 2023
- How Original Medicare works, Medicare.gov, Last Accessed February 3, 2023
- Your Medicare coverage choices, Medicare.gov, Last Accessed February 5, 2023
- The United States Social Security Administration https://www.ssa.gov/
- Medicare Benefits | SSA https://www.ssa.gov/benefits/medicare/
The Medicare insurance plans and Medicare Supplement companies on this page originate from CMS Data Files. Content is maintained by David Bynon, and was last updated on .