Best Medigap Plan for You
Each year, millions of Americans choose to add a Medicare Supplement (Medigap) plan to supplement their Original Medicare benefits. We often recommend a Medicare Supplement plan, but the policies aren’t for everyone.
It’s on a case-by-case basis. So, the best Medigap plan for you will depend on your needs and budget.
What Is Medigap?
Medigap is a type of supplemental insurance that’s sold through private insurance companies. The purpose is to lower your out-of-pocket costs by filling some of the “gaps”, like copayments, coinsurance, and deductibles left over by Medicare. As long as you pay premiums, your Medigap coverage is renewable. And, some policies cover foreign travel emergency care (up to plan limits).
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We’ll Help You Choose the Best Plan with the Lowest Rate.
There are ten standardized plans available in most states, identified by letters A through N (12 if you count the high deductible versions of Plans F and G). If the plan letter is the same, the coverage is the same regardless of the insurance company. When you buy a Medigap plan, you can choose where you go for coverage nationwide!
So, if a Plan G with one company has the same coverage as a Plan G with another company, what’s the difference? The answer is price. There can be a BIG difference in the premium from one company to another — for the exact same coverage. This is why it helps to work with an agent like ABC Medicare. With our expertise, you can relax knowing you always have someone on your side. We’ll make sure you have the lowest possible rate for your Medicare Supplement plan.
About Plans C and F
As of 1/1/2020, no new people eligible for Medicare are allowed to enroll in Medigap Plan F and Plan C. If you currently have a Plan F or Plan C, an agent like ABC Medicare can help you change plans if you can qualify for medical underwriting.
People on Plan F are usually paying an additional $400 to $800 per year more in premium than Plan G. So, seniors can actually save money by getting off of Plan F and getting on Plan G or Plan N.
Medicare Supplements (Medigap Plans) Chart
These are the percentages that these plans cover of what Medicare does not.
| Plan A | Plan B | **Plan C | Plan D | **Plan F | Plan G | Plan K | Plan L | Plan M | Plan N | |
| Part A Coinsurance & Hospital Costs | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| Part B Coinsurance or Copayment | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | 50% | 75% | ✔ | ✔ |
| Blood (First 3 Pints) | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | 50% | 75% | ✔ | ✔ |
| Part A Hospice Care Coinsurance or Copayment | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | 50% | 75% | ✔ | ✔ |
| Skilled Nursing Facility Care Coinsurance | ❌ | ❌ | ✔ | ✔ | ✔ | ✔ | 50% | 75% | ✔ | ✔ |
| Part A Deductible | ❌ | ✔ | ✔ | ✔ | ✔ | ✔ | 50% | 75% | 50% | ✔ |
| Part B Deductible | ❌ | ❌ | ✔ | ❌ | ✔ | ❌ | ❌ | ❌ | ❌ | ❌ |
| Part B Excess Charges | ❌ | ❌ | ❌ | ❌ | ✔ | ✔ | ❌ | ❌ | ❌ | ❌ |
| Foreign Travel Emergency Care | ❌ | ❌ | 80% | 80% | 80% | 80% | ❌ | ❌ | 80% | 80% |
With Medicare Supplement plans, you can expect rate increases pretty much every year.
Most policyholders will pay between $40,000 and $70,000 in premium over 20 years depending on the plan and company they choose.
Will Your Plan Cover Dental, Vision, or Hearing?
Keep in mind: Medicare Supplements don’t cover everything. If you need coverage for hearing aids, routine dental or vision care, eyeglasses, private-duty nursing, or long-term care, there are ancillary products you should consider. For example, some Medicare Advantage plans offer dental, vision, and hearing benefits, and may include other benefits, too.
Contact ABC Medicare
To get help choosing the best Medigap plan for you, reach out to ABC Medicare today. We’ll present you with options and make suggestions based on your individual needs.
