It might surprise some Medicare subscribers to know that there are no definitive best Medicare Supplement Plans for 2018. Some people think that one plan is better than others or they may hear that some plans are more popular. While it is true that most people who purchase Medicare supplement plans (called Medicare Supplement Plans plans) do prefer Plan F, even that plan cannot be called the best plan.
In fact, Plan F may be one of the worst plans for most Medicare subscribers. That’s because the amount of coverage it offers is not usually congruent to how much it can cost. You can actually get a much better deal by choosing Plan G instead, if you really do need all the coverage being offered. Now Plan F has its merits, and there are people for whom the plan is ideal, but those people are few and far between.
What it boils down to is that you cannot just pick out a plan and say that it is the best one. No plan can carry that label truthfully, because each plan can be someone’s best plan. Plan F is someone’s perfect supplement plan, just as Plan G and Plan N and all the others are. These plans are designed for people with all sorts of different needs, and what works for one person may be a terrible idea for someone else.
As you pick and choose the best Medicare Supplement Plans plans for 2018 for you, you should be aware of the differences between the plans. They all come with a different set of coverage. There are tons of overlapping coverage items among them, but no two plans have the same exact coverage. Here is what you can expect to have covered by the various plans:
- All co-payments, both for Medicare parts A and B
- The Medicare Part A and Part B deductibles
- Excess charges for Medicare Part B
- Three pints of blood more for every year you have the plan
- Hospice care
- Nursing services
- As much as 80% of emergency healthcare services in countries outside the US
How Coverage Works
To understand this concept, you first have to understand how coverage works on these plans. There is a total of 10 different supplemental plans. One of the plans (Plan F) will cover all the supplemental expenses. Others cover fewer expenses, but they also cost less. That’s where the idea of suitable coverage comes in.
If all the plans were priced the same, it would be easy to say to people that they should go with the highest coverage plan, but it doesn’t work like that. You get the coverage you pay for. While it may be nice to have as much coverage as you can afford to pay out for every month, you may be paying for coverage you don’t really need. That’s a trap a lot of people fall into, and you need to be careful about how much coverage you are springing for.
It’s a good idea to talk to your doctor and an insurance agent about your health and coverage needs. Getting some expert advice on coverage specific to you will help you find the best Medicare Supplement Plans for 2018 and beyond.
We mentioned Plan F already. That’s the one plan that covers it all. Its coverage includes foreign travel exchange (up to a limit and after you pay a deductible), co-payments, deductibles for Medicare parts A and B, excess charges for Medicare Part B, nursing care, hospice care and some more blood every year beyond the blood coverage provided by basic Medicare.
You have to have basic Medicare to be eligible for these plans, as they only add on to what that basic plan gives you.
Slightly below Plan F in the rankings of coverage comes Plan G. It covers all those items we just listed for Plan F except for a Medicare Part B deductible. If you want slightly less coverage than that, there is always Plan N. This one has all the same coverage as Plan F, minus a Part B deductible, Part B excess charges and some minor co-payments.
If any of those is still too expensive for you or covers far more than you need, there are several other plans to choose from as well. Choosing out the best Medicare Supplement Plans for 2018 is not easy, and it’s something you want to take some time with. It’s a good idea to start researching the plans now and looking at your current coverage to find the right plan for you.
Some of the plans will only cover portions of these items. For instance, Plan N only covers the majority of the Medicare Part B co-payment. You may still have to make small co-payments of $20 or $50 for certain types of visits to healthcare facilities. You need to be aware of all the fine print and restrictions for each plan. There is a reason there are ten different plans, and that reason is because the coverage differences between them can be very minor. But those minor differences may really add up over time, resulting in great savings for you or a loss of money.
It’s up to you to figure out which plan is going to be the best one for you. Your doctor can help you determine what kind of health needs out ought to try to cover. Your insurance agent can assist you in choosing the right plan and coverage. But ultimately, it falls to you to decide on the best Medicare Supplement Plans for 2018. You’ll want to choose with care, as it can turn costly if you need to change up plans at a later date.
Compare the Best Medicare Supplement Plans for 2018
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