Each of the standardized plans can be offered as a SELECT plan. The premiums for these plans are generally less than those of normal standardized plans, however, they require the hospitals used (and in some cases the doctors) to be within the carrier’s network to get full benefits (except in the case of an emergency) – similar to how an HMO works. If you use a provider outside of the network, you may be responsible for the co-insurance that is not covered under Original Medicare – as long as you use a provider that accepts Medicare, Original Medicare will pay for its portion of approved charges.
If you buy a SELECT plan and decide you would rather have a standard Medigap plan, you can change it to the standard plan within 12 months of when you started the coverage.
Many seniors also ask ‘if I move, can I take my coverage with me?” Under a SELECT plan, if you move out of the plan’s service area, you would have a guaranteed-issue right to purchase a new Medigap policy – the plan options available depends on your zip code as not every plan is available in every area. You can apply for a new supplement policy as early as 60 calendar days and as 63 days after your coverage ends to buy a guaranteed-issue Medigap plan after your SELECT plan coverage ends. Under a standard plan, you can take the plan with you as they are guaranteed renewable.
Medicare SELECT plans are not available everywhere – please give us a call at 1-888-972-0024 to find out if a SELECT plan is available in your area or if you have any questions about Medigap plans or would like a free quote comparison.
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