What You Need to Know
The best time to enroll in a Nevada Medigap policy is during your Medigap Open Enrollment Period.
Medicare Supplement plans do not offer prescription coverage.
A Medicare Supplement Plan G ranges from $114-$398 for a non-tobacco-using male age 65. A female with a similar profile would pay $101-$353.
What Are Medicare Supplement Plans in Nevada?
Nevada Medicare Supplement plans (also known as Medigap policies) help pay for medical costs that aren’t covered by Original Medicare (Medicare Parts A and B). Original Medicare has deductibles and coinsurance that can leave you with significant out-of-pocket costs unless you also have a Medigap policy.
Medicare Supplement insurance plans pay after Original Medicare has paid for covered services. These plans are offered by Medicare-approved private insurance companies. The plans are lettered (Plan A through Plan N) and standardized, which means that a Plan G from one insurance company has exactly the same benefits as Plan G from another insurance carrier.1
When Can You Enroll in Medigap?
You can enroll in Medicare Supplement insurance at any time. The best time to enroll, however, is during your Medigap Open Enrollment Period. This period lasts for six months and starts when you are both age 65 or older and enrolled in Medicare Part B.
During your Medigap Open Enrollment Period, insurance companies can’t refuse to sell you a Medicare Supplement plan or charge you more because of any health conditions you may have.
Outside of open enrollment, insurance companies can decline your application or charge you more due to your health unless you have guaranteed issue rights.2 Several situations qualify you for guaranteed issue rights, including:
- You’re enrolled in a Medicare Advantage plan and your plan is leaving Medicare.
- You move out of your Medicare Advantage plan’s service area.
- You have Original Medicare and an employer group health plan that pays after Medicare and the employer plan is ending.
- You joined an MA plan when you were first eligible for Medicare Part A, and within the first year of joining the MA plan you decide to switch back to Original Medicare.
- You disenrolled from a Medicare Supplement plan to join an MA plan for the first time. Within the first year of having an MA plan, you decide to switch back to your previous Medigap policy.
- Your Medicare Supplement insurance company goes bankrupt.
- You leave a Medicare Supplement plan because the company misled you.3
Note: If you’re under age 65 and have Medicare due to a disability or end-stage renal disease (ESRD), you may not be able to purchase a Medigap policy until you turn 65 because Nevada doesn’t require insurers to sell plans to people younger than 65. You may be eligible for an MA plan, however.4
Enrolling Outside Open Enrollment
If you sign up for a Medigap policy outside of your Medigap Open Enrollment Period, insurance companies can decline your application or charge you more due to the state of your health — except under special circumstances.
What Are the Most Popular Medicare Supplement Plans?
The most popular Medicare Supplement plan is Plan F. Over 50% of people with a Medigap policy have Plan F because it offers the most coverage, including:
- Medicare Part A coinsurance and deductible
- Medicare Part B coinsurance and deductible
- First three pints of blood
- Medicare Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Part B excess charges*
- 80% of foreign travel emergency costs, subject to plan limits5
While Medicare Supplement Plan F offers the most benefits, it’s no longer available for sale to people who became eligible for Medicare on or after January 1, 2020.7
Medigap Plan G, another popular option, covers everything Plan F does except for the Part B deductible. Seventeen percent of people enrolled in a Medicare Supplement plan are in Plan G.
Medigap Plan N is the third most popular option, enrolling 10% of those who have a Medigap policy.8 It covers everything Plan F does except for the Part B deductible and Part B excess charges. Plan N also has a copay of up to $20 for doctor’s office visits and up to $50 for an emergency room visit without an inpatient stay.
Wait Until 65
Nevada doesn’t require insurers to sell plans to people under age 65, so if you’re younger than that and have Medicare due to a disability or end-stage renal disease (ESRD), you may not be able to purchase a Medigap policy until you turn 65.
How Do You Choose a Medicare Supplement Plan?
The first step in choosing a Medigap plan is to decide which lettered plan you might want, A through N. Since the plans are standardized by letter, they will have the same benefits regardless of which insurance company you choose. However, the prices of the plans will differ from company to company.
These differences are based on the way in which insurance companies choose to price their plans. The three methods are:
- Community ratings: With this pricing strategy, everyone is charged the same premium regardless of gender or age. Premiums may increase over time due to inflation, but not due to age.
- Issue age ratings: With this strategy, prices are based on your age when you buy a plan. People who buy a policy when they’re younger pay less than those who buy a plan when they’re older. Premiums may increase due to inflation, but not age.
- Attained age ratings: This approach bases prices on your current age, which means premiums increase as you age. These plans tend to be the cheapest when you’re younger, but can become the most expensive as you get older. Premiums may also increase due to inflation.9
The variations in pricing are why it’s important to compare plan prices from multiple companies. You can use the Medicare Plan Finder to find insurance companies in Nevada, and then contact those companies for quotes.
Do Medicare Supplement Plans Offer Prescription Coverage?
How Much Do Medigap Policies Cost?
Here are examples of the price of monthly premiums for popular Medicare Supplement plans in Nevada.
A Medicare Supplement Plan F ranges from $133-$411 for a 65-year-old, non-tobacco-using male. For a female with a similar profile, plans range from $124-$364.
A Medicare Supplement Plan G ranges from $114-$398 for a non-tobacco-using male of 65. A female with a similar profile would pay $101-$353.
For a Medicare Supplement Plan N the cost ranges from $88-$388 for a male who is 65 and doesn’t use tobacco. A 65-year-old female who doesn’t use tobacco would pay $77-$343.
What If You Want to Change Your Medigap Policy?
You can change your Medigap policy at any time. Keep in mind that unless you have guaranteed issue rights, insurance companies can use your medical history to decide whether or not to accept your application, and if they do accept it, they can also charge you more based on the status of your health.11
What Are Alternatives to Medicare Supplement Plans?
Medicare Advantage (MA) plans are a bundled alternative to Original Medicare. They provide Medicare Parts A and B benefits. Most plans also offer Part D prescription benefits, and many offer additional benefits such as dental, hearing, and vision care.12
What Are Medicare Resources in Nevada?
Nevada offers several Medicare resources to residents, including:
- The State Health Insurance Assistance Program (SHIP): SHIP provides free assistance and counseling to Medicare beneficiaries. SHIP staff can help with claims, evaluating plan options and more. You can call SHIP at 1-800-307-4444, visit a local counseling site or contact your local senior center for assistance.
- The Nevada Division of Insurance: If you’re having an issue with your Medicare Supplement insurance provider, you can file a complaint online with this division.
- Medicaid: This program provides free and low-cost healthcare to people with limited income and assets. You can apply online or by calling 1-800-992-0900.
If you’re ready to purchase a Medicare Supplement plan, start by deciding which lettered plan you’re interested in. Next, visit the Medicare Plan Finder to locate Nevada insurance companies offering that plan. Contact at least two or three insurance companies to get quotes. Be sure to compare like plans so you’re making an apples-to-apples comparison. For example, compare a Plan G from one company to Plan G from another since they have the same benefits.
Once you’ve found a plan that fits your budget, apply with the insurance company. Don’t forget to review Medicare Part D prescription drug plans if you want prescription benefits.