Medicare Supplement Plans in Alaska

What Are Medicare Supplement Plans in Alaska?

Medicare is a federal health insurance program for individuals aged 65 and older, as well as younger people with qualifying disabilities or health conditions (e.g., end-stage renal disease).

Original Medicare includes Part A (Hospital Insurance) and Part B (Medical Insurance), but it doesn’t cover all healthcare costs. You may still be responsible for deductibles, coinsurance, and copayments. Medicare Supplement plans, also called Medigap, help cover these expenses.

Medigap plans are standardized and labeled by letters A through N. Each lettered plan offers the same benefits no matter which insurer you purchase it from—though premiums may vary. These plans are sold by private insurance companies and work alongside your Original Medicare coverage.

Learn how these plans can help you manage out-of-pocket healthcare expenses in Alaska.

When Can You Enroll in a Medicare Supplement (Medigap) Policy?

You can apply for a Medigap plan at any time. However, enrolling during your Medigap Open Enrollment Period gives you the best access to plans and pricing.

Your Medigap Open Enrollment Period lasts six months and begins the month you’re both age 65 or older and enrolled in Medicare Part B. During this time, insurance companies cannot deny you coverage or charge more based on your health status.

Outside of this window, insurers in Alaska may use medical underwriting to assess your application. This means they can charge higher premiums or deny coverage unless you qualify for guaranteed issue rights.

Guaranteed issue rights apply in certain circumstances, such as:

• Your Medicare Advantage plan ends or you move out of its service area
• You lose employer-sponsored coverage
• You switch back to Original Medicare within a year of joining a Medicare Advantage plan

What Are the Most Popular Medicare Supplement Plans?

Across the country and in Alaska, the most popular Medigap policies are:

• Plan F: Offers the most comprehensive coverage, including nearly all Medicare out-of-pocket costs. Only available to people eligible for Medicare before January 1, 2020.
• Plan G: Covers everything Plan F does except for the Medicare Part B deductible.
• Plan N: Covers major expenses like Part A coinsurance and deductibles, but has copayments for some services and does not cover Part B excess charges.

How Do You Choose a Medicare Supplement Plan?

When choosing a Medigap plan in Alaska, consider:

• Your healthcare needs (e.g., frequent doctor visits, travel needs)
• Whether you want coverage for services received outside Alaska or abroad
• Your ability to manage copayments or deductibles
• Whether your doctor accepts Medicare assignment

Once you decide on a plan letter (e.g., G or N), compare offerings from different insurers. Though the benefits are identical, pricing can vary based on how insurers rate their premiums:

• Attained-age rating: Premiums increase as you age
• Issue-age rating: Premiums are based on your age when you first buy the plan
• Community rating: Everyone pays the same premium, regardless of age

Always compare the same plan type across insurers (e.g., Plan G vs. Plan G) to get an accurate comparison.

How Much Do Medigap Policies Cost?

Medigap premiums in Alaska vary based on:

• Your age and gender
• Whether you use tobacco
• Which plan you choose
• The pricing method used by the insurer

Even though benefits are standardized, premium costs can vary widely among companies.

What If You Want to Change Your Medicare Supplement Plan?

You can apply to switch Medigap plans at any time. However, unless you have guaranteed issue rights, your new insurer may use medical underwriting to determine your eligibility and rates.

Once you’re approved for a new plan, you can cancel your old policy. In some cases, insurers may allow a 30-day “free-look” period during which you can try the new plan while keeping your current one (you must pay both premiums during that time).

What Are Alternatives to Medicare Supplement Plan?

Medicare Advantage plans are private health plans that bundle Part A and Part B, and often include prescription drug coverage. These plans are offered by private insurance companies approved by Medicare and may include additional benefits like vision, dental, or wellness programs.

Currently, Alaska does not offer Medicare Advantage plans for individual enrollment. However, residents may have access to group-based coverage through an employer or union.

Medicare Part D?

Medicare Part D plans provide standalone prescription drug coverage.

• Who needs it: Anyone with Original Medicare who wants drug coverage
• What it covers: Prescription medications (varies by plan)
• How it’s offered: Through Medicare-approved private insurers
• Not needed if: You are enrolled in a Medicare Advantage plan with drug coverage (MAPD)

Do Medigap Plans Cover Prescription Drugs?

No. Medicare Supplement (Medigap) plans do not cover prescription medications. If you need drug coverage, you must enroll in a standalone Medicare Part D plan.

Medicare Resources in Alaska

Residents of Alaska can get free, unbiased assistance from these resources:

• Alaska State Health Insurance Assistance Program (SHIP): Offers one-on-one Medicare counseling through the Alaska Medicare Information Office
• Alaska Division of Insurance: Helps consumers understand Medigap policies and ensures insurers comply with state regulations
• Alaska Medicaid Program: Offers coverage to low-income residents and those with disabilities; may coordinate with Medicare

Next Steps

If a Medicare Supplement plan in Alaska fits your needs, the best time to enroll is during your Medigap Open Enrollment Period. Begin comparing plan options before your 65th birthday to ensure a smooth enrollment process. You can explore plans online or contact a licensed insurance agent for personalized assistance.