Transamerica premier life insurance company medicare supplement

Stonebridge Medicare Supplement products are brought to you by Stonebridge Life Insurance Company. Stonebridge is one of our newest partners. The great news about Stonebridge is that they are a division of Transamerica. Transamerica is one of America’s largest and most trusted insurance providers. Stonebridge Medicare Supplement is offering extremely low rates at this time. Please contact an agent at Plan Medigap to get the latest low rates from Stonebridge Life Insurance Company.

To get a free quote, visit our quote page or compare rates below. To speak to one of our licensed agents, call us at (800) 750-2407.

Transamerica premier life insurance company medicare supplement

Medicare: What You Should Know 

Transamerica premier life insurance company medicare supplement


Medicare is a national health insurance program for people 65 or older. You may be eligible to get Medicare earlier if you have a disability or end-stage renal disease. Each year, you can choose which way you get your health coverage (and add or switch drug coverage). It’s important to understand your coverage options and compare the different choices, so you can make an informed decision that’s right for you. The following provides a high-level summary about Medicare. For full details and interactive tools about Medicare, visit www.medicare.gov.


Click on the links below to learn about Medicare, how to sign up, and your coverage options.

  • Medicare: When to Enroll?
  • Medicare: How do I Enroll?
  • Medicare: How do I Change My Coverage?
  • Medicare: How do I Make a Choice?
  • Medicare: What are my costs going to look like?
  • Understand Your Coverage: Skilled Nursing Facility Care
  • Services & Items Not Covered by Part A & Part B Medicare
  • Recent Changes to Medicare 
  • Get Help

Medicare: When to Enroll? 

You can only enroll in Medicare during certain times in the year:

  • Initial Enrollment Period
  • General Enrollment Period
  • Special Enrollment Period 

Initial Enrollment Period

You may initially enroll in Medicare during the 7-month period that starts 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65. 

If you’re close to 65, and are getting Social Security or Railroad Retirement Board benefits, you’ll automatically enroll in Medicare Part A and Part B coverage once you're eligible. Part B has a monthly premium, which you can choose to drop if you'd like.

To learn about coverage options for Medicare, scroll down to the "Which Medicare Plan Do I Choose? " section.

Transamerica premier life insurance company medicare supplement

 

If you missed your Initial Enrollment Period (IEP) and need to enroll in Medicare, you likely will have to enroll during either a Special Enrollment Period (SEP) or the General Enrollment Period (GEP).  

General Enrollment Period

If you did not enroll in Medicare when you originally became eligible for it (or during a Special Enrollment Period), you can sign up during the General Enrollment Period (GEP). The GEP takes place January 1 through March 31 each year, with coverage starting July 1. You may face a late penalty for enrolling during the GEP instead of when you first became eligible. 

Special Enrollment Period

If you missed the Initial Enrollment Period and the General Enrollment Period, you may qualify for coverage during a Special Enrollment Period when certain life events occur.

Ways to Enroll 

There are a few ways to enroll in Medicare, depending on which plan you'd like to proceed with.

For Original Medicare (Part A & Part B), you can enroll by:

  • Applying online at Social Security

  • Calling Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778.

  • Going in-person to your local Social Security office.

  • If you or your spouse worked for a railroad, call the Railroad Retirement Board at 1-877-772-5772.


Open Enrollment Period

After you've enrolled in Medicare, you can make changes to your health plan during the Open Enrollment Period.

The 2023 Open Enrollment Period runs from Friday, October 15 to Tuesday, December 7, 2022. During this seven-week period, you have a chance to change and review your coverage for 2023.

 You can sign up for Original Medicare, Medicare Advantage (Part C), add prescription coverage (Part D), or add a Medicare Supplement Insurance (Medigap) plan.

Visit Medicare.gov to change your Medicare plan during the Open Enrollment Period.

Medicare Advantage Open Enrollment Period

January 1 – March 31, 2023 is the Medicare Advantage Open Enrollment Period. If you’ve enrolled in a Medicare Advantage Plan during the Open Enrollment Period and change your mind, you can switch to Original Medicare (Parts A & B) or to a different Medicare Advantage Plan during this time. 
 

Which Medicare Plan Do I Choose? 

When you first enroll in Medicare, you can choose how you get your Medicare coverage. There are two options for you to pick from:

1.) Original Medicare includes Hospital (Part A) and Medical (Part B) insurance. To add drug coverage, you can add Part D. Additionally, adding a Medicare Supplement Insurance (Medigap) policy will help lower your out-of-pocket costs.

2.) Medicare Advantage (Part C) is an alternative to Original Medicare, and is purchased through private insurance companies. These plans include Part A, Part B, and usually Part D. Most plans have additional benefits— hearing, vision, dental, and more.

You can change your Medicare coverage during the Medicare Open Enrollment Period or during the Medicare Advantage Open Enrollment Period. 

Transamerica premier life insurance company medicare supplement

Medicare: How do I Make a Choice? 

There are many choices when it comes to picking a Medicare plan that works for you. See below to get a high level summary of Part A, Part B, Medicare Advantage (Part C), and Part D. You'll see information such as what the plan covers, what it costs, and how to enroll. 

Transamerica premier life insurance company medicare supplement

Medicare: What are my costs going to look like? 

Transamerica premier life insurance company medicare supplement

Transamerica premier life insurance company medicare supplement

Understand Your Coverage: Skilled Nursing Facility Care

Transamerica premier life insurance company medicare supplement

Services & Items Not Covered by Original Medicare (Parts A & B) 

  • Long-Term Care (also known as “custodial care” and includes activities like bathing, dressing, using the bathroom, and eating)
  • Most dental care
  • Eye exams related to prescribing glasses
  • Dentures
  • Routine foot care
  • Cosmetic surgery  
  • Hearing aids and exams for fitting them

Recent Changes to Medicare 

  • COVID-19-related items & services
    Medicare covers vaccines, diagnostic tests, and more. 
  • Cognitive assessment & care plan services 
    Medicare covers a cognitive assessment to help detect signs of cognitive impairment.
  • Blood-based biomarker test
    Medicare covers this lab test for colorectal cancer once every 3 years (in some cases).
  • Lower out-of-pocket costs for Insulin
    If you enroll in a "Part D Senior Savings Model" plan, you may be able to join a drug plan that gives benefits for insulin starting January 1, 2022. Learn more: Medicare.gov/plan-compare
  • Acupuncture for chronic low back pain
    Medicare covers up to 12 acupuncture visits in 90 days for chronic low back pain.
  • Telehealth & other virtual services
    Medicare covers remote healthcare through telecommunications technology.

Check out the Medicare & You 2023 Handbook for more information. 

Get Help

  • Medicare.gov. The official government site for Medicare.
  • State Health Insurance Assistance Program (SHIP). Each state offers free virtual counseling, un-biased towards any health insurance companies. 
  • Insurance brokers. They give free advice however they may have financial incentives to get customers to sign up for these health insurance plans.
  • Fee-based consultants. These consultants have no ties to health insurance companies or health care providers, and are compensated per hour or project.
  • Ask Claire. A free Medicare resource which is un-biased and connects you with a representative from a health insurance company.
  • Medicare Plan Finder. An online tool which guides you through the process of shopping for and comparing plans.

Does Transamerica offer Medicare supplement plans?

Also known as Medigap, Transamerica Medicare Supplement plans work with Original Medicare Parts A and B. They help reduce your out-of-pocket costs by lowering or eliminating copays, coinsurance payments, and deductibles.

Does Transamerica life insurance Cover Medicare deductible?

Transamerica's policies helps covering the coverage gaps you'll have with Medicare. It covers both your Medicare Part A and B deductibles and your 20% coinsurance for Medicare-covered services that you would otherwise pay for yourself.

Is Transamerica Premier life insurance company Legit?

The Transamerica Life Insurance Company has a Financial Strength Rating of A+ from A.M. Best and a Complaint Index of 0.58 from the National Association of Insurance Commissioners.

Is Transamerica Medicare?

Transamerica's insurance focus is mainly on life insurance, but the company offers Medicare Supplement plans as well. Those who qualify for Medicare due to age or disability can benefit from the additional support that these insurance policies offer.