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The right Medigap provider and plan are key to day-to-day and long-term diabetes management. A chronic health condition such as diabetes can result in costly out-of-pocket expenses. According to the American Diabetes Association, people diagnosed with diabetes average $16,752 in medical costs per year. Approximately $9,601 of those costs are
We evaluated 12 of the top Medigap providers using the following criteria: Medigap plans offered, diabetes-related coverage, extra plan perks, and the insurance company’s reputation. From our research, we narrowed down the list to three insurers. We also examined if the provider website offered easy access to plan availability, comparison, and costs. See which companies stood out!
Before we get into the details of our top providers, below is a highlight of some of the most popular Medigap plans for older adults with diabetes. All of the providers that made our list offer these plans. Let’s take a look at why these Medigap plans are a solid choice for seniors with diabetes.
We love the fact that AARP, which has nearly 38 million offers a prescription drug plan with insulin copays for $35 or less through their partnership with UnitedHealthcare. Further, AARP’s website is packed with Medigap tools and resources to eliminate the confusion that comes when shopping for a plan, and you can obtain instant pricing. For a closer look at AARP’s Medigap plans insured by UnitedHealthcare, head to our latest UnitedHealthcare review.
Offering Medigap, prescription, vision, dental, and hearing plans, Aetna is a one-stop shop for your health care needs. We found Aetna’s website easy to navigate; simply enter your state to get started! From there, Aetna provided a detailed list of Medigap plans offered and age-attained premiums. This allowed us to see what our estimated premium would be now and in the future. With Aetna’s prescription cost estimator, we were able to price common diabetes medications, including insulin. Ready to learn more? Check out our in-depth review of Aetna’s Medigap plans.
Cigna is a health care industry leader. We were impressed by Cigna’s commitment to ensuring its diabetic members have access to insulin at affordable, predictable costs. Their customer service options are notable. Insurance questions are promptly answered through their 24/7, 365 customer support. Cigna’s seven percent household discount is competitive among other Medigap providers and helps to keep insurance premiums in check. Read our latest Cigna review for more details on this provider.
Choosing a Medigap policy that properly covers your diabetic needs is no small feat. It’s important to shop around and compare (at least) three insurance carriers. The great news is the federal government standardizes Medigap plans, so the benefits included in Medigap Plan A or Plan G are the same no matter which insurance company you select. The only difference between Medigap plans will be the insurance company’s premium and any extra perks or programs they offer.
From the Pros: Our experts have researched 16 Medicare Supplement Insurance plans and recommend 10 of the best options for seniors.
As you compare costs, be sure to ask if the insurance company offers discounts, such as:
Each Medigap plan offers a different level of coverage. For example, Medigap Plan A does not cover skilled nursing facility care coinsurance, while Plan F does. Medicare.gov provides a helpful chart to compare Medigap plans side by side.
As we grow older, our risk for diabetes increases. The Centers for Medicare and Medicaid (CMS) estimates that 1 in 3 Medicare beneficiaries has
While Medicare Parts A and B cover some of your health care costs and diabetes supplies, you’re still left with deductibles, copays, and all prescription drug expenses. Enrolling in a Medigap plan and prescription drug plan helps fill in the gaps to cover remaining health care costs.
A six-month open enrollment period for Medigap begins the month you turn 65 and enroll in Medicare. During this window, it’s federally mandated that you cannot be denied coverage or charged a higher premium due to pre-existing health conditions, including Type 1 or Type 2 diabetes.
Unfortunately, if you enroll after your six-month open enrollment period has passed, there is a possibility your diabetes diagnosis may negatively affect your Medigap application. The result? Best-case scenario: a late enrollment penalty and higher monthly premium. Worst-case scenario: being denied coverage altogether.
An essential part of managing your diabetes is always having the proper supplies and medications on hand. Your Medicare Part B plan and Medicare Part D prescription plan cover a significant portion of your diabetic
Keep in mind, you must be enrolled in Medicare Part B to enroll in the Medicare Part D drug plan. You’re responsible for any related coinsurance, copayments, or deductibles.
The Medicare Part B plan covers diabetes supplies and aid, including the
Older adults who have (or are at risk) for diabetes utilize their Medicare Part D drug plan for diabetes prescriptions and supplies, including these necessities:
From the Pros: As you compare Medigap plans, including prescription drug plans, request the formulary drug list to find out what is covered (and what isn’t).
In early 2021, the Centers for Medicare and Medicaid Services (CMS) revealed exciting news for older adults with diabetes. The Part D Senior Savings Model, a supplemental benefits program available to everyone enrolled in Medicare, was Through this model, individuals taking insulin may be able to pay a maximum copayment of $35 for a 30-day supply while saving up to $446 a year in out-of-pocket costs.
Unfortunately, the Part D Senior Savings Model isn’t mandatory for insurance companies at this time, so it’s not offered in all states. Visit Medicare.gov to see if there is a participating plan in your location.
Maureen joined SeniorLiving.org with more than 10 years of experience writing in health, lifestyle, and nutrition for premium brands like General Mills, Westinghouse, and Bristol Myers Squibb. Her passion for empowering older adults is evident in coverage of topics like retirement, health… Learn More About Maureen Stanley