Supplement plans for Medicare assist seniors by paying deductibles, copayments, and other costs Medicare doesn’t cover. Each plan is nationally standardized and identified by a letter (except in Massachusetts, Minnesota, and Wisconsin). Through a Medigap plans comparison you can identify the plan that best suits your needs.
Plan F is the most comprehensive, covering coinsurance or co-payments for Medicare Part A, Medicare Part B, skilled nursing facilities, and hospice. It also covers up to 365 additional days in the hospital, three pints of blood, Part B doctor fees beyond what Medicare pays, deductibles for both Medicare Part A and Part B, and emergency medical care in foreign countries.
Plans C, G and N offer slightly fewer benefits than Plan F. Plan C does not cover Part B excess charges, so it would be a good choice for someone whose doctors only charge what Medicare pays. Plan G does not include the Part B deductible; this plan may be a good option for you if the deductible is less than the difference in premiums between Plan G and Plan F. Plan N excludes both Part B excess charges and the Part B deductible; it also requires co-payments to visit the doctor’s office or emergency room (unless you’re admitted).
Who is Eligible
You must be enrolled in Medicare Part A and Part B to be eligible for a Medicare supplement and may not combine a supplement plan with Medicare Advantage or a Medicare Medical Savings Account. If you enroll in Medicare Part B at age 65, the open enrollment period for Medigap ends six months after the first day of the month you turn 65. If you enroll in Medicare Part B after age 65, Medigap open enrollment lasts six months after you enroll.
Applying during the open enrollment period is the best idea as you cannot be turned down for coverage for any reason during this time. Insurance companies by law are required to issue policies regardless of any pre-existing conditions. As well your monthly premium is never determined based on your health conditions, nor can it ever be raised due to your own health claims.
So Which Plan is Best?
While there is no one “best” supplement plan for everyone, there are the few plans mentioned earlier that seem to be the most popular. Are you the type that wants every medical bill paid and you’re will to pay a higher premium for it? Then Plan F is your best choice.
Do you not mind a small annual deductible to save on your premiums? Then Plan G likely will be the best for you.
Do you want great coverage in case of an emergency or high medical bills, but you remain healthy and don’t mind some out of pocket costs? Then take a good look at Medigap Plan N.
By seeing a Medigap plans comparison you can determine which plan is best for you. To compare plans and get instant quotes enter your zip code below.