What is the Best Medigap Insurance?

Learning which Medigap insurance fits your budget and needs can be an exhausting, time-consuming endeavor. Many companies can spike up their rates over their competitors as much as 65%. To avoid over paying on your coverage you should be informed about the market and what you can expect.

Why You Need an Insurance Plan

As you get older, your insurance will likely go up. Health problems tend to increase, making for more regular, expensive hospital visits and medications. That’s why the government supplies much of your insurance coverage during retirement age with Medicare. But this won’t cover all your medical expenses.

There are still co-payments, deductibles, and extraneous services that government insurance will not cover. That is why it is so important to find an affordable supplementary insurance to help with all the expenses not covered by the federal government.

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So What is the Best Medigap Insurance?

There really is no one, best Medigap insurance policy. There are however a few of the popular choices that should fit most people’s needs. Medigap plans are lettered A – N with only a few plan letters that really seem to stand out. Those plans are Medigap Plan F, G, and N.

Medigap Plan F

This plan pays 100 percent of the gaps in Medicare. That means no medical bills on all approved expenses. Not even a co-pay, or a deductible. Nothing extra to pay besides your monthly premium. Sounds great right? In fact many people might say this is “the best”, and depending on your own current situation they may be right. But it all comes down to your situation. What if you’re on a severely limited income? What if you’re very healthy and rarely see your doctor? Is spending that extra money on a highly monthly premium really the best option? Perhaps not.

Medigap Plan G

This plan is the same thing as Plan F, except on Plan G you pay one small deductible each year. This is a one-time annual Part B deductible of around $147. After you pay this yourself, Medicare and Plan G will pay the rest of your medical bills. Why pay this yourself if Plan F pays it for you? Well, Plan G has lower monthly premiums. In some cases far lower than the deductible, saving you a lot of money. And historically Plan G has lower yearly rate increases over Plan F. Now who’s the best?

Medigap Plan N

Plan N has even lower premiums than F or G, but it does have even more out of pocket expenses that you could run in to. For example on Plan N after you pay the $147 deductible you may have up to a $20 co-pay per doctor’s visit. As well if you visit the emergency room you will have a $50 co-pay if you’re not admitted. Not being admitted is a good thing however, so that might be worth it to you. Plan N also does not cover Part B excess charges, but again it has lower monthly premiums. Depending on the area you live in Plan N could be considerably less than even Plan G. Use our FREE Online quote engine to check the rates in your area.


So what is the best Medigap insurance? It’s the one that fits your own situation, budget, and needs the best. Never want to see a medical bill, not even a deductible no matter what it costs? Then Plan F is right up your alley. Don’t mind a small deductible to save money on your monthly premiums? Plan G is calling your name. Super healthy and rarely see your doctor, or are you on a very limited budget? Then Check the rates on Plan N and see just how much you can save!

The problem is that there are a huge number of insurance providers out there all offering various insurance plans. Using an independent agent that represents several companies will help you in your decision making process.

The Help You Need

That is why we recommend you use one of our skilled agents who act independently of any insurance company. With their professional knowledge they can shop the market and show you the various rates from different companies.

Many companies offer plans that give the same coverage as other companies but for a huge markup in price. These higher premiums can take out all the savings you would normally reap from comprehensive insurance. Whether you are buying your insurance from the AARP or a New Era Life insurance Medicare Supplement, you will still be getting the exact same coverage on similar plans. It is only the premiums that change.

Why Are the Premiums All Different?

All companies have different risk pools which means each has a variety of different health claims being paid out of the group. There is no way companies could standardize their rates as some would be making far too much money while others would not be able to stay in business. Therefore the government requires that each company set their rates on a percentage basis of a ratio of premiums vs. claims being paid out. This eliminates price gouging and allows the insurance carriers to remain in business.

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That’s why it is important to have someone on your side, watching out for you and making sure you are getting the best deal possible. Let us help you by putting our experienced agents to work. They know how to compare companies and find coverage plans that work for your budget while still meeting your needs. Checking the rates each year you go on is vitally important as well due to the fact that each company has rate increases, often once per year.

So if you’re asking “What is the best Medigap insurance?” there’s no need to stress any longer. Leave the work to the trained professionals- people whose primary goal is making sure you are taken care of.  Enter your zip code below to get instant,  online quotes.


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