You’ll be surprised what’s covered. We’ve helped thousands just like you get…
v Wheel Chairs, Walkers and Oxygen Machines*
v $0 Medical Deductibles
v Prescription Drug Coverage for 1000’s of Colonial Penn & Generic Drugs
v Routine Hearing and Vision coverage
v $0 Co-Pay on Preventive Care, Annual Physicals and Flu Shots
Verified Client Reviews
Victoria Lalond, NM
Iris Gaston , GA
Diane Hinson, AL
Fredrick Stradwick, WV
Rosie Lee Johnson, AL
Emma Godwin, AL
Lurlene Richard, MD
Karen Riedel & Ronald Riedel, IA
Medicare iQ Basics
You’ve worked your whole life, and now it’s time to understand how Medicare works for you.
Medicare’s Parts A and B cover hospital visits and outpatient services. But like most insurance plans, there are gaps. Medicare Well Done specializes in helping you choose a plan that fills in the gaps that are critical to you and your overall health coverage.
Medigap also known as Medicare Supplemental Insurance, is offered by private insurance companies to fill the health care coverage gaps in the original Medicare. It allows you to keep the original Medicare and helps you with additional coverage that was not originally provided.
Why Get It?
Since there are gaps in the original Medicare, it is important that you cover yourself and greatly reduce your out-of-pocket expenses. A plan could potentially pay for itself with one hospital visit or a few visits to the doctor’s office. You must be enrolled in Original Medicare Parts A & B.
When To Enroll?
We have plans available year round to those who qualify. If you are within your open enrollment period you can’t be turned down for any reason. Speak to one of our licensed agents who will guide you through the process using our “No Hassle, White Glove Service.” Call Now (866) 623-0980
One of the first questions we hear when we talk to folks about to enroll in Medicare is, “Will it cover my prescription drugs?” Original Medicare provides very little coverage for prescription drugs. Instead, the government has allowed private insurers to offer Medicare Prescription Drug Plans (also known as Part D). There are two types of plans. The first are Medicare Advantage Prescription Drug Plans (MAPDPs). This coverage is purchased as part of your overall Medicare Advantage Plan. The other type are standalone Prescription Drug Plans (PDPs). This is the type of coverage you get separately along with Original Medicare or a Medigap Plan. Whether you choose Plan F, G, FHD or N, prescription drug coverage is an important piece to your overall health coverage.
Why Get It?
Paying for prescription drugs yourself can add up quickly and get very costly. If you are currently taking medication, we strongly recommend a Medicare Prescription Drug Plan.
Who Is Eligible?
You must be eligible for Original Medicare Parts A & B to get a Medicare Prescription Drug Plan.
When Can I Enroll?
Both Medicare Advantage Prescription Drug Plans and standalone Prescription Drug Plans are best purchased during the Initial Enrollment Period or the Open Enrollment Period.
The first is the Initial Enrollment Period. It is the 7-month period surrounding your 65th birthday: 3 months before, the month of, and 3 months after your birthday. If you fail to get coverage during this time, you could face the Medicare Part D penalty.
Next is the Open Enrollment Period, which begins on October 15 and ends on December 7. The Open Enrollment Period is also a good time to switch plans if you already have a plan and want to switch it.
It is possible to enroll in a drug plan after the above enrollment dates, or during the Special Enrollment Period. The Special Enrollment Period is only open to those who recently had a major life change, such as a move or a loss of health coverage. Since Special Enrollment is limited, it is important that you do not miss the Initial or Open Enrollment Periods. Your coverage can be delayed and you could face a penalty for not having coverage.
Full coverage for your best health.
Dental, Vision and Hearing Insurance is an important addition for everyone who is enrolled in Medicare Parts A and B. Preventative and routine checkups are a vital part of staying healthy. You deserve it! Some of the features include:
- Affordable premiums
- Use your own provider, or choose one from the optional PPO Network
- Guaranteed issue, there is no underwriting or stress about being approved
- Covers two dental cleanings per year, plus glasses, contacts, hearing aids, and exams
- *After one year, also covers 60% of endodontics, root canals, periodontal surgery, bridges, crowns and dentures per policy year.
- Typically, the policy pays for covered expenses, based on the contracted fee for Participating Dentists and the Reasonable and Customary Charges for Non-Participating Dentists, up to the policy maximum. Talk to a Licensed Medicare Specialist at _____________ to find the best plan for you.
Colonial Penn Medicare Supplemental Insurance Plans (Medigap)
Colonial Penn Medigap is a supplemental insurance that is sold by private companies and can help you pay for costs that your current Medicare plan doesn’t cover. These extra costs can include:
• CoinsuranceIn addition to that, there are some policies from Medigap that can cover services for medical care that is needed when you travel outside of the United Sates. If you decide to move forward and purchase a Colonial Penn Medigap policy, Medicare will pay their approved amount for your healthcare and then Medigap will pay their share.
Keep in mind, that this type of policy is different than a Medicare Advantage Plan since these plans help you get Medicare benefits and your Medigap plan will only supplement your current Medicare benefits.
Choosing the Best Colonial Penn Medicare Supplement Insurance Plan
When you begin your search for the Medigap policy that is best for you, you may be surprised to see that there are 12 different plans that you can choose from labeled A through L. Each one of these plans will offer different benefits. For example, Plan A will offer the least benefits but is also the least expensive. On the other hand, Plan L is the most expensive but will be able to offer you the most benefits. Even if you are in good health, it is still beneficial to have a Medigap policy as you can read about here.
Not all of these plans will be available in every state and in some states, the plans may have different names but will offer the same benefits. You’ll want to find a Medicare Supplemental Plan F, N or G
Standardized Medigap policies have identical benefits but the premiums may vary from company to company. So, The is company that you can trust such as Medicare iQ.
Purchasing Your Policy
Within six months after enrolling in your Medicare Part B, it will be the best time to purchase your Medigap Policy. During these first six months, insurance companies have to accept you even with any type of preexisting health conditions that you may have.
You may think that by paying a higher premium, you will get more benefits but this is not the case. The benefits (and claim filing requirements) are identical from one company to the next. With that being said, depending on the company that you choose, you may not have to file claim forms. With these companies, filing claims will fall on your or your health care provider. Therefore, it is important that you understand what your responsibility is when it comes to filing claims so that you can get the most out of your coverage.
What you Should Know About Colonial Penn Medigap Policies?
There are some things that you will want to know and understand before moving forward with purchasing your own Medigap policy such as:
• You must have Medicare Part A and Part B to get a Medigap policy
• If you currently have a Medigap Advantage Plan, you will need to cancel it before your Medigap policy starts.
• In addition to paying Medicare for your monthly Part B policy, you will pay your premium to the private insurance company that you chose for your Medigap policy.
• If you and your spouse both want Medigap coverage, you will each need to purchase your own policies since a Medigap policy will only cover one person.
• Medigap policies can be purchased from any licensed insurance company in your state.
• Even if you have health issues, your standard Medigap policy is renewable. This means that if you pay your premium, your insurance company cannot cancel your policy.
• Policies purchased after 2006 are not allowed to cover prescription drug costs. If you want this type of coverage, you will want to join the Medicare Prescription Drug Plan (Part D).
• If you currently have a Colonial Penn Medicare Medical Savings Plan, it is illegal for you to purchase a Medigap policy.
Our agents can help you find the policy that is best for you and will include the coverage that is most important to you.
Generally, on the 1st of every year, to keep up with inflation the benefits of Medicare will be adjusted. This means that typically your premiums for your Medigap policy will increase to keep up with Medicare changes. Our agents will be able to discuss this with you when you contact us for a free quote today.
Call for your Quote Today
Stop waiting around! The right insurance provider is out there and we’re going to make sure you’re covered for the foreseeable future. Accidents can happen any time whether it’s day, night, workdays, or holidays. Insurance is the best way to prepare for the unpredictable, and a great way to secure your peace of mind. Give us a call today or fill out the form for a quote – you’ll be glad you did!
Methods Used to Set Premiums for Colonial Penn Medicare Supplemental Insurance
When you are setting up your Medigap policy, there are typically three factors that will be used to determine your premium. These three factors are-
1. Age Attained-You are most likely to get the lowest premium the younger you are. If you get your policy as soon as you turn 65, you will get a better price than you would at 75. Insurance premiums tend to increase yearly, three years, or five years. These increases will be added to the increase that is already caused by the annual Medicare increase.
2. Age at Issue-Your premium will be based on your current age when you purchase your policy. These premiums will not increase as you age but will still increase due to the yearly Medicare inflation.
3. Community-rated-With this method, everyone in the same area (geographically) will pay the same premiums, regardless of how old they are.
While the issue-age policy as well as the community-rated policy may cost a more in the beginning, you won’t have to worry about an increase in your premium as you age.
Choosing Medicare iQ for your Medigap Needs
Our agents can help you choose the best benefit combination that will best suit your needs and offer you the lowest premium. Our clients have been pleased with their experiences and the coverage that they have received with us and we want to help you get the coverage that you need as well!