Medigap Archives -

How much are Medicare supplement plans in Minnesota in 2024? That’s what I’m going to answer in today’s video. So please stay tuned. My name is Jamie from meetjamie.com. I’m a licensed insurance agent specializing in Medicare. I love helping people here on my YouTube channel understand how the Medicare program works and then connect them with the coverage that fits their needs. Best of all, my services are completely free. And so if you have questions or want to get in touch with me, again you can do that right through my website, meetjamie.com. I am based out of Minnesota, so I’m pretty familiar with the Minnesota Medicare supplement plans. If you haven’t seen some of my other Minnesota Medicare supplement videos here on my channel, I’m just going to do a quick refresher before I share the rates with you. So hold tight. So if you haven’t seen some of my other videos here online, this is a 2024 Medicare supplement plan in Minnesota chart.

Minnesota Medicare Supplement Plans

So Minnesota does things just a little bit differently than the rest of the country, but this chart gives you a breakdown of how the Medicare supplement plans work here. And so, as you can see, it starts with the basic plan, and there are some riders that you can add. So the Part A deductible rider is highly recommended because that deductible in 2024 is $1,632. You can also add the Part B excess rider. This is not applicable in Minnesota because Minnesota providers are not allowed to add excess charges, but if you were to go somewhere else outside of Minnesota that had them, you could be exposed to those charges. Also, another rider is the preventative services not covered by Medicare. And then I’ll also draw your attention to a little bit of a gap here on foreign travel coverage. So then, if we look at the extended basic plan, what you’ll see here is those riders are included.

Extended Basic Medicare Supplement Plan (Similar to Plan G)

So the Part A deductible is covered. The Part B excess is covered. Again, that’s not applicable in Minnesota but could be somewhere else. And then the preventative services not covered by Medicare are included. I didn’t show it to you on the screen today, but these little two asterisks right here indicate additional skilled nursing facility coinsurance that is not included with the basic plan. So that’s just something to know.

Copayment Medicare Supplement Plan (Similar to Plan N)

The other thing I’ll draw your attention to, because I’m only going to talk about the first three Medicare supplement plans today, is what’s called the copayment plan. This is similar to Plan N, and you can see that there are a lot of similarities. There are a couple of differences. One of them being the Part B coinsurance. So what is that? So with this copayment plan, again, similar to Plan N, you could have a copayment of $20 at the doctor’s or $50 at the emergency room.

Also, the excess charges are not covered on the copayment plan. Also, the preventative services are not covered under the copayment plan. And then you can see here that this also has a gap in foreign travel coverage. So if you travel outside the country, that’s actually something you’re going to want to think about, is just being able to have that coverage there. Okay, so let’s talk about rates. And in the next slide, I’m going to actually give you some sample rates. Now, keep in mind, that the sample rates that I’m going to give you are for a male non-tobacco user in Hennepin County. These rates vary by a few different factors. So again, if you want a customized quote for you in your area, you can reach out to me through my website. So here are the rates, and I just put them in order similar to the supplement comparison chart.

Medicare Supplement Plans in Minnesota Rates

So as you can see here, the basic plus all the riders, and I took three of the top carriers in Minnesota, is going to be 254 up to 287. The extended basic is going to be 230 up to about 250. There are a couple companies that are even higher than that. And then the copayment plan, which again is similar to Plan N. Look at this price, that’s a great price, $156. Now, just remember, you may have a copayment at the doctor or the emergency room. But again, just to refresh you here, it’s very, very similar to the extended basic. Again, the Part B excess charges don’t apply here. The preventative services wouldn’t be covered, but that’s capped at $120. And then, if you’re not planning on going outside the country, you wouldn’t really worry about that coverage being there.

So quite a bit of savings here between the copayment plan and the basic plus the riders. That’s almost $100 there in premium. So that’s about $1,200 a year. So there are some options here. Again, if you have questions about Medicare supplement plans in Minnesota, I’m happy to answer your questions. You can reach out to me again through my website, meetjamie.com. One other thing I’ll mention before I close out this video is that one of the things that I’ve noticed with a lot of the people that I talk to here in Minnesota is that a lot of agents that they talk to only represent one company. I would recommend working with a broker who represents at least four to five companies to help you get the most competitive rates.

Why Work With a Medicare Insurance Broker in Minnesota

Some agents, just choose to only represent one company because it just streamlines their business. But in my opinion, that’s not necessarily beneficial to you because you can shop these rates all year long. Supplements are shoppable all year long. You can compare, you can apply, you can change if you qualify for medical underwriting if you don’t have some sort of special enrollment period. But there are options available to save some money in Minnesota on your supplement plan and put it towards a nice trip to Florida, Arizona, California, Mexico, or wherever you want to go. So hope you found this video helpful. If you did, please just hit the like button, say hello in the comments, make sure you subscribe to the channel, and share it with a friend. Thanks for watching. Have a great day.

Additional Resource: https://www.shiphelp.org/about-medicare/regional-ship-location/minnesota

If you have a Medicare Advantage plan, you may be wondering how to switch back to Original Medicare.

My name is Jamie from meetjamie.com, and I help seniors navigate the Medicare program and find the coverage that fits their needs.

Can I Switch Back to Original Medicare From Advantage?

A common question that we get is, can you go back to Original Medicare once you’re on a Medicare Advantage plan? The answer is yes, but there is one thing that you’ll want to keep in mind.

Original Medicare has a 20% gap in coverage, and most people who have just Original Medicare add a Medicare Supplement Plan.

If you want to go from a Medicare Advantage plan back to Original Medicare and you would like to add a Medicare Supplement plan, you may have to answer health questions and go through medical underwriting.

When Is the Best Time to Enroll in a Medicare Supplement Plan?

Typically, the best time to get a Medicare supplement plan is when you first turn 65.

That’s not to say that you won’t get accepted. It’s just something that you want to keep in mind when you are considering going back to Original Medicare.

When Can You Switch From Medicare Advantage to Original Medicare?

There are a couple of different times each year that you can switch from a Medicare Advantage plan back to Original Medicare. One is during the Annual Election Period from October 15th through December 7th. During that time, you can change to any plan that you like. It’s literally like an open enrollment. However, what’s confusing to some people is there’s also a Medicare Advantage Open Enrollment Period from January through March, and in that enrollment period, if you’re on a Medicare Advantage plan, you can choose to go back to Original Medicare and enroll in a drug plan. It’s at that time you would also be able to apply for a Medicare Supplement plan if you wanted.

That’s what I have for you in this video about moving from a Medicare Advantage plan to Original Medicare.

If you have more questions, leave a comment below, you can call me using the toll-free number at the bottom of the page, or there’s a link where you can visit my website as well. If you like these videos, be sure to hit the thumbs up. It helps us reach more people. Subscribe to the channel.

If you have questions about Medicare, feel free to reach out to me at 1-800-974-0552.