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Wyoming Medicare Supplemental Insurance

Wyoming Medicare supplemental insurance is a form of private medical coverage that helps seniors pay for out-of-pocket expenses associated with their original Medicare plan. Supplemental insurance plans, also called Medigap, work to make your health care more affordable without taking away the freedom to choose your own doctors, hospitals and other providers. Medigap plans are sometimes confused with Medicare Advantage plans like HMOs and PPOs, but the truth is that Medigap and MA plans are two very different options. While Medigap plans simply help you pay for the coverage you already have, Medicare Advantage plans replace your regular insurance and operate with a set of company-specific rules. For example, you may be limited to certain doctors and hospitals, or you may have to get a referral before you can see a specialist.

With Wyoming Medicare supplemental insurance plans, you can choose any caregiver that accepts Medicare, and there is no referral requirement to see a specialist. Moreover, if you sign up during Medigap Open Enrollment, the six-month period after you enroll in Parts A and B, you cannot be denied a policy and do not even need to get a physical. A Medigap company also cannot charge you higher rates for a preexisting condition if you sign up during Open Enrollment. The ability to research your options and choose care that best suits your financial and medical needs makes Medigap insurance a popular option for independent seniors who want to maintain an active and independent role in their personal health care.

Choosing a Wyoming Medigap Plan

Wyoming Medicare supplemental insurance is available to residents who have already enrolled in Original Medicare, which consists of a hospital component called Part A and a general care component called Part B. These parts together cover such services as inpatient and outpatient hospital care, skilled nursing facility, hospice care, visits to doctors' offices and select preventative services like flu shots. Most people do not need to pay a monthly fee for Part A, although Part B does have a monthly premium.

Under original Part A and B, 80 percent of the amount approved by Medicare is covered. This means that seniors pay the remaining 20 percent out-of-pocket. These coinsurance costs can quickly become too expensive for those do not have an extra form of coverage like Wyoming Medicare supplemental insurance. The costs can particularly add up for those with chronic conditions like diabetes, but given the active lifestyles of many Wyoming seniors, even those who feel healthy would be wise to choose some form of supplemental insurance. An unexpected medical emergency on a mountain trail or an icy walk could mean a big dip into savings without a supplemental safety net. For all these reasons, Wyoming Medicare supplemental insurance is a practical way for WY seniors to pay for health insurance while maintaining financial stability after retirement.

Wyoming Medicare supplemental insurance is available through 10 different plans, labeled Plan A through Plan N. Plans E, H, I and J are no longer available to purchase, although some of these supplemental plans now carry more options, like the choice of a higher deductible. Each of these supplemental plans has been approved and standardized by the federal and Wyoming government, so no matter which company you choose, each plan will be the same across the board. In other words, Plan A at one firm will be the same as Plan A at another, whether you live in Casper, WY or Cheyenne, WY. This leaves only price and customer service for Wyoming seniors to compare.

When researching Wyoming Medicare supplemental insurance companies, look to local insurance companies for the best deals and supplemental coverage for your area. Rates often vary from one part of the state to another, and customer service is typically better when you choose a company that has the time to get to know you. Your choice of Wyoming Medicare supplemental insurance will depend on your lifestyle, goals, savings and many other personal factors. Developing a good relationship with a local agent who understands which factors are most important to you can ensure that you select the coverage that will work out best for you in the long run. Most local companies also understand the independent spirit of many Wyoming seniors and can help you choose a plan that allows you to feel in control of your own health care.

Finding the right health care plan after retirement can be a daunting task for many Wyoming residents, given the number of plans available and misinformation to counter good resources. This doesn't mean you should ever settle for a plan that doesn't fit your needs, however. A Wyoming Medicare supplemental insurance agent can help you sort through your options to make an independent decision based on what makes sense to you financially and medically.

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