by Russell Noga | Updated October 2, 2024
The federal government offers seniors access to the Medicare program just before they turn 65. Medicare Parts A & B provide you with coverage for hospital and medical costs, reducing your annual healthcare expenses, but they don’t cover everything. You must cover 20% of most Medicare Part A & B expenses.
Facing a huge bill after an extended hospital stay can ruin your financial planning during your retirement. Enroll in a Medigap plan to bring more predictability to your healthcare expenses.
These policies partially or fully cover the remainder of the bill. Medigap plans are available from private healthcare providers like Old Surety.
The best time to sign up for Medigap is during the “Open Enrollment” period in the six months after your 65th birthday. Old Surety must accept your Medigap application during this time, even if you have pre-existing health conditions.
This post examines Old Surety Medigap. We’ll look at the plans on offer, the premiums you pay, and the benefits and perks you receive.
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Old Surety Medicare Supplement Plans at a Glance
- Old Surety has a limited Medigap plan offering.
- The company doesn’t offer any additional benefits or perks with its plans.
- The company has affordable Medigap premiums on plans, but its not a cost leader in any state.
Who Is Old Surety?
Founded in 1932, Old Surety is a Medigap provider headquartered in Oklahoma City. They have a family-oriented business and serve Christian communities.
What Medicare Supplement Plans Does Old Surety Offer?
Old Surety offers four Medigap plans, A, C, F, and G. The company focuses on the most popular plans while maintaining compliance with the CMS by offering Plan A. Here’s a breakdown of the offerings in each plan.
Plan A – This policy offers basic benefits. It doesn’t cover the Medicare Part A deductible. The only Medicare Part B benefits included are coverage for coinsurance and copayments.
Plan C – This policy is one of two (the other being Plan F) currently being phased out. It offers near-comprehensive coverage, with a benefit for the Medicare Part B deductible. Plan C doesn’t cover Part B excess charges. Excess charges are the fees charged by practitioners over the Medicare-approved rate. You can avoid incurring excess charges on consultations by using providers charging Medicare Assignment.
Plan F – Plan F is the most comprehensive option in the Medicare range. You get the Medicare Part B deductible benefit included in this plan. Plan F offers “first dollar coverage,” meaning your only financial responsibility for your Medicare Part A & B coverage is your monthly premium.
Plan G – This policy offers near-comprehensive cover for Medicare Parts A & B expenses. There’s no coverage for the Medicare Part B deductible.
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Old Surety Medicare Supplement Plans – Benefits & Coverage
The CMS is a federal agency regulating the Medicare supplement industry. This organization ensures Old Surety and all healthcare providers offering Medigap policies have standardized benefits in their plans. So, a Medigap policy from Old Surety features the same benefits as a plan from any other industry provider.
All Medigap plans offer the following benefits for Original Medicare Parts A & B.
- Part A coinsurance and hospital costs for up to 365 days after using up Medicare benefits.
- Part A hospice care coinsurance or copayment.
- Part B coinsurance or copayment.
- Blood transfusion costs for the first three pints of blood.
*Plans C & F is only available to seniors qualifying for Medicare before January 1, 2020. If you were eligible for Medicare before this date, you can register for Plan C or F with Old Surety. However, you might have to undergo medical underwriting.
Medical underwriting looks at your pre-existing conditions, and the insurer can charge you higher-than-average premiums or deny your application. You might qualify for a guaranteed issue right to avoid underwriting.
Contact our team, and we’ll discuss your healthcare situation and needs to see if you are eligible for Plan C or F.
What Old Surety Medicare Supplement Plans Don't Cover
All Medigap plans offer full or limited coverage for Original Medicare Part A & B expenses. They don’t cover anything not covered by Original Medicare. So, there’s no coverage for stays at unskilled nursing homes or private-duty nursing.
You don’t have coverage for preventative treatments at the physiotherapist, chiropractor, podiatrist, or acupuncturist. In some cases, Medicare might cover these expenses if your doctor deems them medically necessary. Medigap also doesn’t cover the costs of vision, hearing, and dental services.
Old Surety Medicare Supplement Plans – Premiums
Old Surety uses a risk model to set your premiums. Factors influencing your risk profile include age, gender, location, and smoking status. According to our research, the average premium costs for Old Surety Medigap plans for a 65-year-old nonsmoking woman in Oklahoma are the following.
*Your plan premiums may vary depending on your unique risk profile. Contact us for a free quote.
Old Surety Medicare Supplement Plans – Additional Benefits & Discounts
Old Surety doesn’t offer members any additional discounts or perks with its Medigap plans. They offer competitive rates but are not a cost leader in any plan in any state.
Old Surety Medicare Supplement Plans – Third-Party Ratings & Reviews
Old Surety has an A+ rating with AM Best for its financial strength. The company also has an A+ rating with the Better Business Bureau.
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Frequently Asked Questions
What are the key features of Old Surety Medicare Supplement plans?
Old Surety Medicare Supplement plans offer comprehensive coverage to fill the gaps in Original Medicare, including coverage for deductibles, coinsurance, and other out-of-pocket expenses.
They provide the freedom to choose any healthcare provider that accepts Medicare patients.
Who is eligible to enroll in Old Surety Medicare Supplement plans?
Eligibility for Old Surety Medicare Supplement plans generally requires individuals to be enrolled in both Medicare Part A and Part B. Enrollment is typically open to people who are 65 years or older, or those under 65 with certain disabilities.
What is the difference between Old Surety Medicare Supplement Plan G and Plan N?
Old Surety Medicare Supplement Plan G provides comprehensive coverage, including full coverage for the Part A deductible, Part B excess charges, and skilled nursing facility coinsurance. Plan N offers similar coverage but with some cost-sharing, such as a copayment for office visits and emergency room visits.
Are there any specific benefits or perks offered by Old Surety Medicare Supplement plans?
While specific benefits and perks may vary, Old Surety Medicare Supplement plans may offer additional benefits such as coverage for foreign travel emergencies, access to telehealth services, and fitness or wellness programs. It’s important to review the details of each plan to understand the specific benefits included.
What is the process for enrolling in an Old Surety Medicare Supplement plan?
To enroll in an Old Surety Medicare Supplement plan, you typically need to contact Old Surety directly or work with a licensed insurance agent who represents Old Surety. They can guide you through the enrollment process, help you choose the most suitable plan, and assist with any required paperwork.
How can I find out if my preferred healthcare providers accept Old Surety Medicare Supplement plans?
Old Surety Medicare Supplement plans work with any healthcare provider that accepts Medicare patients, so you have the freedom to choose from a wide network of providers. However, it’s always a good idea to check with your specific healthcare providers to ensure they accept Medicare assignment.
What factors should I consider when comparing Old Surety Medicare Supplement plans?
When comparing Old Surety Medicare Supplement plans, consider factors such as the specific coverage offered, premium rates, company reputation, customer service quality, and the ability to customize your coverage based on your healthcare needs.
Are there any discounts or savings opportunities available for Old Surety Medicare Supplement plans?
Old Surety may offer discounts or savings opportunities for Medicare Supplement plans. These can vary based on factors such as age, household discounts, or payment method discounts. It’s recommended to inquire directly with Old Surety or their authorized agents to learn about any available savings opportunities.
Can I switch from another Medicare Supplement plan to an Old Surety Medicare Supplement plan?
Yes, in most cases, you can switch from one Medicare Supplement plan to another, including switching to an Old Surety Medicare Supplement plan. However, it’s important to consider factors such as pre-existing conditions, underwriting requirements, and any waiting periods that may apply when changing plans.
Where can I get more information about Old Surety Medicare Supplement plans?
To get more information about Old Surety Medicare Supplement plans, visit their official website or contact Old Surety directly. Additionally, you can consult with licensed insurance agents who represent Old Surety to get personalized guidance and assistance in understanding the plan options.
Call Us for More Information on Old Surety Medicare Supplement Plans
Reach out to our team at 1-888-891-0229 for a free consultation on Old Surety Medigap plans. We’ll discuss your healthcare needs and enroll you in the right plan. Our team of fully licensed Medigap agents will get you the best rate on monthly premiums.
If you can’t call us now, complete the contact form on this site. We’ll get a consultant to call you back. Or you can use the automated quoting tool on this site to get a free quote on any Medigap plan with any provider in your state.
Russell Noga is the CEO and Medicare editor of Medisupps.com. His 15 years of experience in the Medicare insurance market includes being a licensed Medicare insurance broker in all 50 states. He is frequently featured as a featured as a keynote Medicare event speaker, has authored hundreds of Medicare content pages, and hosts the very popular Medisupps.com Medicare Youtube channel. His expertise includes Medicare, Medigap insurance, Medicare Advantage plans, and Medicare Part D.