To determine what the best Medicare supplement plans in 2016 are, you will have to consider what your own financial and medical situation is. Do you need a lot of coverage because your health is poor? Are you able to only afford minimal supplemental coverage? The answers to these will determine which supplement plan is right for you.
If your health is quite poor, or if you’re the type of person who never wants to get a medical bill, then Plan F may be the perfect match for you. It offers 100% coverage, which means there is little to nothing you would have to pay out of your own pocket.
Medicare Supplement Plan F
This plan is certainly the most suggested plan by agents, simply because the agent is failing to do their job most of the time. They should be showing you all the options and costs, not just telling you to go with Plan F because it’s the “most comprehensive plan”. I move more people out of Plan F than another plan and this ends up helping my clients save hundreds and sometimes thousands of dollars per year. Don’t get caught in the Plan F trap. Here’s why:
Fact: Plan F pays 100 percent of the gaps in Medicare and has the highest benefits out of all the plans available
Myth: Plan F is “the best” plan. Do you really want to pay higher premiums to get one extra benefit that really has no value to you? In fact, the one benefit actually cost you more than what it does for you!
Fact: Medicare Supplement Plan G is identical to Plan F, except for one small item. With Plan G you pay the Part B deductible yourself, and it’s $147 once per year.
Myth: Plan F is a better value. Not true! In most areas of the country Plan F will cost you far more than $147 per year over Plan G.
Considering the fact that we just made clear which was that the only thing Plan F does over Plan G is pay the $147 deductible for you (with your money), why on Earth would you pay more than $147, to get a $147 benefit?
You must get quotes for both Plan F and G using our website to help decide what the best Medicare supplement plans in 2016 are for you. Again, if you never want to see a medical bill then go for Plan F. Just realize that you’re likely wasting money just to avoid writing a check yourself once per year. Watch my video below on Plan G to see why it’s a great idea!
The Better Choices for 2016
If you’ve gotten over the Plan F phase, then Plan N or Plan G may be better suited to you. Plan G offers nearly full coverage, asking that you only pay for a single deductible. Plan N offers almost the same coverage, requiring you pay that same deductible and pay Medicare Part B excess charges as well. Also with Plan N you might have additional co-pays for doctor’s visits along with emergency room visits. Visit our Learning Center at the top of this page to learn more about each of those plans.
These both have lower premiums than Plan F, and they can be better suited to people who find Plan F too expensive. You don’t want to be paying for coverage you will never use, but you also don’t want to need coverage and not have it. That’s why I encourage people to find a plan that offers coverage to fit their needs. Medicare subscribers should also be seeking coverage for emergencies and other unforeseen medical expenses.
The best Medicare supplement plans in 2016 will not be the same for everyone. What might be ideal for one person could be expensive and unnecessary for someone else. Take time to look at the plans that are available and what kind of coverage they offer, then compare that with the kind of coverage you require. That way, you will be sure to have enough coverage when you require medical services.
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