Best Medicare Supplement in Minnesota
Fair Square Medicare

Best Medicare Supplement in Minnesota

A Minnesota lake at sunset

By Daniel Petkevich

Jan 4, 2023

A guide for a state with different rules

Medicare Supplement plans, also known as Medigap, often have straightforward rules to follow. But in the Land of Ten Thousand Lakes, different plans are unique to your state. In this blog post, we'll discuss those differences and best practices for getting the best coverage in Minnesota.

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Why Medicare Supplements over Medicare Advantage?

Medicare Advantage plans might have extra benefits like dental, vision, and hearing, but these often come at the expense of great core benefits that you will get on Medicare Supplement plans. You also have the best network with Medicare Supplement. On Medicare Advantage, your network might be limited based on the plan you select.

Key Differences in Minnesota

You might have heard that Medicare Supplement Plan G offers the most comprehensive coverage. In Minnesota, however, there is no Plan G available. You can find similar plan options to K, L, M, and N, and we recommend you pay particular attention to Plan N, since excess charges are outlawed in the state. Most Medicare Supplement Plans are broken down into two plans: Basic Plan and Extended Basic Plan. Both plans cover these five basic benefits:

  1. Part A coinsurance

  2. Part B coinsurance

  3. 3 pints of blood each year

  4. Part A hospice and respite care cost sharing

  5. Parts A and B home health services and supplies cost sharing

Let's go through the differences between these two options in Minnesota.

Basic Plan

In addition to the basic benefits listed above, you have coverage for the following:

  • Skilled nursing facility (SNF) coinsurance for 100 days

  • 80% of foreign travel emergency costs

  • 50% of outpatient mental health

  • Preventative care that is covered by Medicare (such as colonoscopies)

  • 20% of physical therapy

  • Mandated benefits defined by Minnesota (such as immunizations, routine cancer screening, diabetic equipment and supplies, and reconstructive surgery)

There are some gaps in the coverage, which can be addressed in two different ways. The first way is by going to the next level of coverage, the Extended Basic Plan. The second way is by adding riders to your Basic Plan. We'll talk about riders after going through the Extended Basic Plan.

Extended Basic Plan

In addition to the benefits listed above in the Basic Plan, the Extended option offers the following:

  • Inpatient hospital deductible

  • Skilled nursing facility (SNF) coinsurance for 120 days

  • 80% of foreign travel emergency costs

  • 80% of usual and customary fees

  • 80% of coverage in a foreign country

The 80% coverage of foreign expenses and Medicare fees also moves to 100% coverage once you spend $1,000 out-of-pocket that year. For Medicare beneficiaries eligible before 2020, you can also get the Part B deductible covered under the Extended Basic Plan. But that option is not available for those who became eligible more recently.

Riders

Let's say you're in between wanting the Basic and Extended Basic Plan. You can add some or all of the following riders to your Basic Plan to make it just right for you:

  • Inpatient hospital deductible

  • Part B deductible (if you're eligible before 2020)

  • Usual and customary fees

  • Non-Medicare preventative care

Mixing and matching these riders allows you to customize your Medicare Supplement plan to fit your lifestyle and healthcare needs.

Building the Best Plan in Minnesota

To build the most comprehensive coverage in your state, you will likely need to add riders. Here are the cheapest Medicare Supplement plans available in Minnesota:

  1. Cigna Health & Life Insurance Company Basic Plan at $185.50/month to $214.04/month with riders

  2. Aetna Basic Plan at $217/month to $285.73/month with riders

For both of these plans, if you want the gold standard of Plan G in other states, you will need to add riders. You could opt for the Extended Basic Plan, but our experts find that it's outside budget of many of our clients. To find out which riders make sense for you, call one of our Medicare experts today. There are additional plan options available in Minnesota that are not listed here. For various levels of coverage, your monthly premium could range from as low as $63 to as high as $756 (depending on your specific zip code and other demographic info).

Takeaway

When you're ready to select your Medicare Supplement plan, you will have guaranteed issue rights to pick the right plan. If you want to talk about how to balance your healthcare needs and your budget, our team of Medicare experts is ready to help. Call Fair Square Medicare today.

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Virgil Insurance Agency, LLC (DBA Fair Square Medicare) and www.fairsquaremedicare.com are privately owned and operated by Help Button Inc. Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. A licensed agent/producer may contact you. Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease. Virgil Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, HMO SNP, PPO, PPO SNP and PFFS organizations and stand-alone PDP prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. Plan availability varies by region and state. For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov. © 2022 Help Button Inc

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.

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