Mississippi Medicare Supplement Plans (Medigap)

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Mississippi Medicare Supplement plans were created to work with your original Medicare insurance coverage. These plans are used to provide extra coverage for what is not covered by Original Medicare. This will include out of pocket expenses, including deductibles, copayments, and coinsurance.

Medicare supplement plans, also known as Medigap plans, may only be purchased through private insurance companies. Medicare supplement options in Mississippi can be broken down into separate parts and plans.

Mississippi Medicare Plans

Mississippi MedicareRegardless of which plan you choose, Medicare plans in Mississippi have their own benefits and differences. They can be categorized into four major parts, each serving their own purpose of providing you essential coverage.

  • Part A & Part B (The Original Medicare)
  • Part C (Medicare Advantage)
  • Part D (Prescription Drug Plan)

Part A: Hospital care, nursing facility care, nursing home care (unless custodial care is required), hospice, and any additional home health services.

Part B: Clinical research, emergency medical assistance, inpatient and outpatient mental health care, and any other preventative services.

Part C: Replaces your Part A and Part B Medicare coverage. It covers most of the same medical care, but may hold some limitations.

Part D: Covers a majority of your prescribed, medically necessary, medications.

Qualifying for Mississippi Medigap Plans

If you are seeking Medicare coverage, there are a few qualifications you may need first. To be eligible for a Mississippi Medicare Supplement Plan, you must be a Mississippi resident who is:

  • 65 years of age or older, with Medicare Part B, or
  • Disabled, under 65.

As a senior, 65 years of age or older, you must enroll in Medicare when you are first eligible. If you do not enroll when you are first able to, you may incur additional charges. This is caused by the Part B Late Enrollment Penalty. If you don’t enroll within your first 12-month period, your Medicare Part B premium will increase by 10% each year.

Typically, if you currently receive disability benefits from Social Security, or Railroad Retirement benefits, you automatically qualify for Part A and Part B (the Original Medicare) Medicare coverage.

Medicare currently offers coverage plans for those who are disabled, under 65, in Mississippi.

How to Apply for Medicare Supplement in Mississippi

Applying for Medicare supplement in 2018 is a pretty simple process. To make the process a bit more stress-free, it is important to enroll when you are first eligible, during your Open Enrollment Period (OEP).

Open Enrollment Period: If you are currently a Mississippi resident, your OEP will start on the 1st day of the month you are at least 65 years old, and when your Medicare Part B has become effective. For example, if you turn 65 on January 31st of 2018, and you got Medicare Part B became effective on March 20th, your open enrollment period would begin on April 1st.

Guaranteed Issue (GI): Guaranteed Issue is the six-month time period after enrollment. Within this time frame, insurance companies are required to allow you to enroll in a Medigap policy, or Medicare supplement plan. If you enroll within the first six months of your open enrollment period, you are granted guaranteed issuance.

Mississippi Medicare Supplement Plan Price

With Medigap, or Medicare Supplement Plans, the costs will vary.

Cost will be determined by the insurance carrier, not the state.

When determining the cost, the carrier will take into consideration your location, age, and sex. Medicare costs in Jackson, Mississippi may vary from costs in Olive Branch, Mississippi.

Medigap carriers classify costs into three different pricing methods.Mississippi Medicare Supplement Plan Prices

  1. Issue Age Rated: This pricing method is is based on the age you were at the time you purchased your policy. Costs will not increase because of your age. However, the older you are when you purchase your policy, the more you pay.
  2. Community Rated: Everyone will pay the same amount, regardless of age. Your premium will not go up as you get older.
  3. Attained Age Rated: Medigap that is age attained rated is calculated by your current age. This is likely the lowest-priced option at first, but will increase as you age. This increase could be anywhere from 1.5%, up to 5% each year.

Some policies that may seem like a good deal up front. In reality, you could end up paying more than anticipated. Be sure to do plenty of research when considering a Medicare policy provider.

Top Medicare Supplement Plans in Mississippi

If you are looking for Medicare supplement plans that provide the best coverage all-around, you may decide to choose one of the more popular plans. The most commonly chosen Medicare plans are Plan F, Plan G, Plan HDF, and Plan N.

Plan F: Medicare Plan F leaves beneficiaries with minimal out-of-pocket expenses. Regardless of the provider, you will receive the exact same coverage. This plan covers most of the remaining hospital and doctor costs, after Medicare handles their portion of the costs.

Plan G: This plan is sold by private insurance companies and all providers offer the same benefits. Remember, prices vary with every provider. Plan G< and Plan F are the only plans that cover any of your excess charges.

Plan HDF: This plan was designed to work with Medicare Part A and Part B (the Original Medicare). Plan HDF provides full coverage on all out-of-pocket costs. That includes co-payments, deductibles, coinsurance, and any excess charges that Original Medicare does not cover.
High Deductible Plan F holds you responsible for any medical expenses up to your designated deductible amount. Because of the deductible, the premium for the HDF plan is much less than Plan F.

Plan N: Medicare Plan N covers expenses not paid through Medicare health insurance coverage. While Plan N may not be full coverage, it is considered one of the more affordable plans available.

Remember, when comparing Mississippi Medicare plans, the benefits of each letter plan stay consistent throughout each provider. The only thing that may vary is the cost.

Mississippi Medicare Advantage Plans

Medicare Advantage, or Medicare Part C, is the suggested plan to go with, if you are looking for the most full coverage plan available. Choosing a Medicare Advantage plan also means you are forfeiting your Medicare Part A and B (Original Medicare) plan, as Medicare Part C will take the place of those plans combined.

With Medicare Advantage, you unfortunately may have a few restrictions. Whereas with Medigap, your options will not be limited.

One of the biggest concerns for those seeking health care is cost. We usually find that Medigap is less expensive, and has less out-of-pocket risk. Medigap, along with Original Medicare, gives you the best coverage opportunity during emergency medical situations.

Medicare Prescription Drug Plans in Mississippi

Prescription drug costs can add up quickly, if you don’t have Medicare Part D Prescription Drug coverage when an emergency arises. Enrolling in a Part D prescription drug plan can save you a majority of the cost for prescribed medications.

It is important to purchase this coverage right away. Otherwise, you may be subject to a Part D penalty. The Part D penalty can be calculated by multiplying the national base beneficiary premium of 1% and the number of months you did not have coverage for prescription drugs.

How to Apply for Medicare in Mississippi

Applying for Medicare in Mississippi is the same as any other state. If you are ready to apply for Medicare in Mississippi, we suggest you gather all the information necessary.

If you’d like to know any additional information regarding enrolling, or different available plans, contact us today, and we can talk you through the process.

Cost is a major factor of any insurance coverage. You can compare rates here, or fill out the form on this page to receive a quote.

Mississippi Medicare Resources

We understand some financial situations may arise. If you find yourself needing a little extra assistance, there are currently two separate programs available to help with costs.

  1. Medicare Savings Program (MSP): The Medicare Savings Program can pay deductibles, coinsurance, or other costs.
  2. Senior Health Insurance Counseling Program (SHIP): With SHIP, each state has their own individual program. Each provides assistance to those who currently have, or are eligible for, Medicare, Medicare Supplements, and Medicare Advantage.

Mississippi Medicare FAQsMississippi Medicare FAQs

  • How many people use Medicare in Mississippi? The current number of people using Medicare in Mississippi falls just above 560,000. Medicare beneficiaries in Mississippi are continually increasing, as those who are 65 and older are automatically enrolled in Medicare by default.
  • Where do I sign up for Medicare for Mississippi? Signing up for Medicare in Mississippi is pretty easy. Give us a call, and we can point you in the direction of where to begin the process.
  • Where can I find an agent licensed in Jackson Mississippi? If you are looking for an agent licensed in Jackson, Mississippi, please give us a call! Our agents are licensed in Mississippi.