Rhode Island Medicare Supplement insurance is private insurance that covers some of the expenses that traditional Medicare doesn’t include. At age 65, most Americans that have paid into the Medicare system are eligible for Medicare benefits, so this government sponsored insurance starts to pay a vast majority of medical costs for that individual.
However, the coverage is not at 100%, so the Medicare beneficiary is financially responsible for the rest of the bill.
Rhode Island Medicare Supplement Plans
Residents are eligible for Rhode Island Medicare Supplement plans when they are enrolled in Medicare Part A and B. In addition, the applicant must be age 65 or older, unless disabled. These policies help seniors cover their medical costs remaining after Medicare pays their portion.
Some expenses that are covered include copayments to doctors, deductibles to doctors or hospitals, and coinsurance for hospital stays or other medical services.
Federal Government Guidelines
The federal government is concerned about the well-being of seniors and their healthcare, so they have guidelines in place that keep private insurance companies from taking advantage of Medicare beneficiaries.
Since every senior will have needs unique to their situation, there’s ten different types of plans that the federal government has created. The government sets a standard of service that makes it mandatory that RI Medicare Supplement plans provide a minimum level of coverage. This guideline applies to all U.S. states and territories.
How Do I Qualify
The criteria for eligibility regarding Medicare Supplement options for Rhode Island are very straightforward. This insurance is provided strictly for Medicare beneficiaries to compliment their Traditional Medicare. You must be at least 65 years old, or receiving benefits from social security disability, and be enrolled in Medicare Part B.
The best time to enroll is during your Open Enrollment Period. This is a very specific window of time that begins the first day of the month after a person reaches the age of 65 or older and their Part B is effective. This OEP will last for the next 6 months.
Federal laws require providers to not discriminate against any eligible Medicare beneficiaries while in Open Enrollment. This is beneficial because the private insurance company cannot use any medical conditions to reject you or increase your premium.
The amount you pay monthly will depend upon the specific plan and coverage you sign up for. There’s numerous providers in the state that provide these policies, it’s important to pick a plan that will fit your medical needs and your financial constraints. You can find updated rate hikes here.
Since all plans are standardized, the benefits will remain the same across all carriers for each letter plan. The only difference is the price the carrier charges for that plan, that’s why it’s important to compare the prices across all carriers once you choose a letter plan. Click here for another resource that’s helpful.