Leading Medicare supplement providers Wisconsin offer coverage to help you pay for the gaps in your health insurance coverage. These gaps are caused by the Medicare deductible and copays as well as other restrictions on what services and supplies you can receive. By understanding what the different Medicare supplements cover and how they work, you can determine whether a Medigap plan is right for you.

The state of Wisconsin requires that all Medicare supplement plans include certain “mandated benefits.” These include 30 days of skilled nursing care in a licensed facility and Medicare Part D drug coverage. These mandated coverages are intended to help ensure that you will not be left with significant out-of-pocket costs in the event of a serious medical emergency. Some companies may choose to add additional riders to their Medicare supplements that are not mandated by the state of Wisconsin. These riders could include foreign travel coverage, the Part B excess charges rider, or extra home health care coverage. Some of these riders may increase the monthly premium, while others may only slightly raise the deductibles or copays in your policy.

Medicare Supplement rates vary by company, but they are generally based on actuarial data. The actuarial data refers to the rates that private insurers charge for the same coverage for a 65-year old woman who does not smoke and is enrolled in Medicare Part A and Medicare Part B. These rates are not guaranteed and may change from year to year, but they do provide a good estimate of how much you can expect your Medicare Supplement premium to be.

As a result, it is important to shop around and compare the cost of Medicare Supplement plans. It is also helpful to consider the overall reputation of the insurance company and their customer service. Many companies are rated by independent credit agencies such as S&P and A.M. Best, which can give you insights into the financial stability of a company and the likelihood that they will be able to meet their obligations to pay claims. In addition, the Better Business Bureau and other consumer organizations can often provide useful insight into the overall experience of a company’s customers.

If you are newly eligible for Medicare, it is a good idea to enroll during your one-time six month Medigap Open Enrollment Period. This will allow you to select any Medigap policy without medical underwriting. If you do not enroll during this period, your options will be limited and may involve costly medical underwriting.

There are ten standardized Medicare Supplement plans available across the country. Two of these plans (Plans F and G) offer high-deductible options that may result in lower monthly premiums. However, you must be enrolled in both Parts A and B in order to select any of these plans. In general, Medicare Supplement plan premiums in Wisconsin are comparable to other states.