Medicare Supplement Plans in Arkansas

What Are Medicare Supplement Plans in Arkansas?

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 your healthcare expenses. You may still be responsible for deductibles, copayments, and coinsurance. Medicare Supplement plans, also known as Medigap, help pay these out-of-pocket costs.

These plans are standardized by letter (A through N). This means that Plan A offers the same benefits regardless of the insurance company, although premiums may vary. Medigap policies are sold by private insurers and work alongside your Original Medicare coverage.

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

You can apply for a Medigap policy at any time, but the ideal time to enroll is during your Medigap Open Enrollment Period.

This six-month window begins the month you’re both age 65 (or older) and enrolled in Medicare Part B. During this period, insurance companies cannot deny your application or charge more based on your health.

If you apply outside of this period, insurance companies in Arkansas may use medical underwriting to evaluate your application. This could result in higher premiums or denial of coverage unless you qualify for guaranteed issue rights.

Guaranteed issue rights apply in situations such as:

• You move out of your Medicare Advantage plan’s service area
• Your current plan ends or discontinues coverage
• You switch back to Original Medicare within a year of enrolling in a Medicare Advantage plan

What Are the Most Popular Medicare Supplement Plans?

In Arkansas and nationwide, the most popular Medigap plans are:

• Plan F: Offers the most comprehensive coverage. Only available to people who were eligible for Medicare before January 1, 2020.
• Plan G: Covers nearly everything Plan F does, except the Medicare Part B deductible.
• Plan N: Covers many major out-of-pocket costs but includes copayments for some services and does not cover Part B excess charges.

How Do You Choose a Medicare Supplement Plan?

To choose the right Medigap plan in Arkansas, consider:

• The type and frequency of healthcare services you use
• Your tolerance for out-of-pocket costs versus monthly premiums
• Whether you travel often and need coverage out of state or abroad

Once you’ve selected a plan letter (e.g., G or N), compare options across insurance companies. While the benefits of each plan letter are standardized, premiums vary based on pricing models used by the insurer:

• Attained age rating: Premiums increase as you age
• Issue age rating: Premiums are based on your age at purchase
• Community rating: Everyone pays the same rate regardless of age

Always compare the same plan (e.g., Plan G vs. Plan G) across different companies.

How Much Do Medigap Policies Cost?

Medigap premiums in Arkansas vary depending on:

• Your age and gender
• Whether you use tobacco
• The Medigap plan you choose
• The insurer’s pricing method

Even though the benefits of each plan are the same, costs can vary significantly by insurer and rating system.

What If You Want to Change Your Medicare Supplement Plan?

You can apply to switch Medigap policies at any time. However, unless you qualify for a guaranteed issue right or are still within your Medigap Open Enrollment Period, insurance companies may evaluate your health before approving your new plan.

This makes it important to carefully consider your options during your initial enrollment period.

What Are Alternatives to Medicare Supplement Plan?

Medicare Advantage plans are an alternative to Original Medicare and are offered by private insurance companies approved by Medicare.

These plans bundle Part A (hospital) and Part B (medical) and often include Part D (prescription drug) coverage. Many also offer extra benefits such as dental, vision, and fitness programs.

You cannot enroll in both a Medigap and a Medicare Advantage plan at the same time.

Learn more about Arkansas Medicare Advantage plans.

Medicare Part D?

Medicare Part D plans provide standalone prescription drug coverage.

• Who needs it: Anyone with Original Medicare who wants prescription coverage
• What it covers: Varies by plan, but includes a wide range of medications
• How it’s offered: Through private Medicare-approved insurers
• Not needed if: You’re already enrolled in a Medicare Advantage plan with prescription drug coverage (MAPD)

Do Medigap Plans Cover Prescription Drugs?

No. Medigap plans do not include prescription drug benefits. If you need medication coverage, you’ll need to enroll in a separate Medicare Part D plan.

Medicare Resources in Arkansas

Arkansas residents can access personalized help and resources through:

• Arkansas Senior Health Insurance Information Program (AR SHIIP): Offers free counseling to help you understand Medicare options and Medigap plans
• Arkansas Insurance Department: Regulates insurance companies and helps residents resolve complaints or concerns
• Arkansas Medicaid: Provides coverage for eligible low-income seniors and those with disabilities; may coordinate with Medicare

Next Steps

If a Medicare Supplement plan in Arkansas meets your needs, start comparing available plans now. Enroll during your Medigap Open Enrollment Period to get the best coverage options and avoid underwriting. You can browse plans online or connect with a licensed insurance agent for tailored assistance.