Affordable WPS Medicare supplement cost refers to the price of a Medigap plan that helps Medicare beneficiaries pay for out-of-pocket costs for their medical care. Private insurance providers sell these plans, which are also known as Medicare supplements, and there are dozens of companies that offer them. Medicare beneficiaries can enroll in a Medigap policy during the six-month open enrollment period that begins the month they turn 65. During this time, insurance companies cannot ask for health information or refuse to issue a policy because of preexisting health conditions.
Choosing the best plan for a specific person will depend on his or her healthcare needs and budget. A person should consider how much he or she can comfortably afford to pay in premiums each month, as well as the expected annual medical expenses. It may also be a good idea to select a plan that includes the flexibility to choose the doctor or hospital that the beneficiary prefers to use.
WPS offers a variety of Medicare supplement plans in Wisconsin. Its basic plan covers 75% of most Medicare Part A and B expenses. There are two other options that offer different coverage levels: a 25% cost-sharing plan and a 50% cost-sharing plan. In addition to Medicare supplement plans, WPS offers a choice of add-on plans, including dental and vision.
The company was founded in 1946 to help civilians and soldiers returning from World War II who could not afford healthcare. It now employs 4,000 people and operates offices in Green Bay, Eau Claire, Madison, and Wausau. Its products include individual and group healthcare insurance, and it also provides an insurance claims processing service for the Centers for Medicare and Medicaid Services, the U.S. Department of Defense, and the U.S. Department of Veterans Affairs.
Besides Medicare supplements, WPS also sells prescription drug coverage called Medicare Part D. While original Medicare (Parts A and B) does not include drug coverage, private insurance companies like WPS contract with Medicare to provide Part D plans. These plans must follow regulations set by Medicare, such as not covering certain types of medications or having an out-of-pocket maximum limit that is lower than the deductibles for Medicare Part A and B.
WPS’s Part D plans feature a national network of pharmacies and access to Medicare’s MTM program. They also come with a foreign travel emergency rider, which can cover up to $100,000 for overseas medical expenses. Part D plans offered by WPS include the standard MedicareRx Plan 1 and the MedicareRx Plus Plan 2. The latter offers a discount on generic medications in the donut hole and provides additional coverage for out-of-pocket expenses.