How to Buy Medicare Supplement Insurance in Tennessee

For many, Medicare's comprehensive health coverage is sufficient. For others, benefits are missing and co-insurances can add up quickly. Other people just want extra peace of mind. These beneficiaries can purchase Medigap policies, which are Medicare supplemental insurance plans. Private insurance companies sell Medigaps and offer an assortment of additional benefits. Beneficiaries who are enrolled in traditional Medicare can purchase Medigap policies. Plans are available in most areas, including the state of Tennessee.

Instructions

• 1

  Determine whether you are guaranteed the right to purchase a Medigap. The federal government only guarantees those 65 years of age and older and newly Medicare-eligible the right to purchase a Medigap. Tennessee does not add any additional requirements to the federal law. If you are not guaranteed the right to purchase a Medigap, an insurance company may still decide to sell you a plan. However, they may do so with more restrictions, such as a preexisting condition waiting period. For the most up-to-date and specific rules about Tennessee's Medigap purchasing laws, contact the Tennessee State Health Insurance Assistance Program at 877-801-0044.

• 2

  Make an inventory of your health care needs. From this inventory, you can decide which of the Medigap benefits are the most important for you. The Medicare Rights Center has a chart that breaks down the different Medigap benefits by plan, which are labeled A through N. Compare the plans' benefits, such as emergency care and coverage of the skilled nursing facility coinsurance. Don't forget that the further along in the alphabet you go towards plan N, the higher the price of each plan, so be sure to factor that in your budget.

• 3

  Log on to the official Medicare website, Medicare.gov. From here, you can use the Medicare plan finder tool by clicking “Health & Drug Plans,” and then “Compare Drug and Health Plans & Medigap Policies.” The plan finder tool allows you to input personalized information to see a list of available Medigap plans in your area along with estimated annual costs.

• 4

  Call the companies that you are most interested in and ask them questions. You will want to ask pointed questions about price and eligibility. Plan prices vary greatly from company to company, so calling many insurance agencies will ensure you are getting the best deal. Medicare Interactive suggests that you ask about premiums, specifically about what your premium price will be based on, such as your gender, health, where you live and whether you are married. You will also want to find out how your premium will change. Ask whether it is community-rated, which means that every member of the plan has the same premium; issue age-rated, which means you will keep the premium you were granted when you joined the plan; or attained age-rated, which means your premium will increase as you age. Finally, you will want find out if you will be subject to any preexisting condition waiting period.

• 5

  Enroll in the plan you like best. Call the plan you want to enroll in, and ask them for their preferred enrollment method. Most plans can enroll you right over the phone, and others will mail you a paper application.