Watch the Video below to get answers to the most frequently asked questions about Medicare Supplement Plans

Medicare Costs

If you have worked and paid into the system for at least 40 quarters then you do not pay a premium for Medicare Part A. Anyone who is not reached the full payments for that time period may be eligible to obtain a Part A however there will be a premium.

Medicare Part B has a monthly premium that you must pay. These premium fees are based on income.

Premiums for Medicare Part D drug plans can vary widely within each state. Visit Medicare.gov to see the different plans and premiums offered in your area.

How To Enroll in Medicare

If you are drawing a social security check prior to turning age 65 you will automatically be enrolled in Medicare Part A and Part B. You should be sent your card approximately three months before your 65^th birthday. Coverage begins the first day of the month that you turn age 65. If you are born on the first of the month than your coverage will begin the first day of the previous month.

If you are not drawing a social security check when you turn age 65 you must enroll in Medicare yourself. If you are to continue working and have insurance for your employer then you have the option of opting out of Medicare Part B until you decide to retire and need it.

You may apply online by clicking HERE 

Medicare Supplement Plans – What they cover

Medicare supplement policies were created to help pay the gaps or expenses that Medicare Part A and B do not cover. Aside from deductibles that are not paid by original Medicare, there are other expenses such as hospital coinsurance as well as doctor’s services coinsurance (20%) that you are responsible for paying.

Some of the main gaps that a Medicare supplement plan can cover are:

• The Part A hospital deductible – you’re responsible for paying a deductible if you are admitted into the hospital. In 2018 this deductible is $1316. Many people think that this is a one time or a annual deductible and it is not. This deductible is based on benefit periods of 60 days. This means if you are admitted to the hospital and then released and you stay out of the hospital for 60 days or more, that is considered one benefit period. If you are admitted again after that 60 day period you must pay this deductible again.
• Part A hospital coinsurance – you are responsible for paying a coinsurance if you are in the hospital after a certain amount of days.

Day 61-90 – Cost $329 per day

Day 91 and beyond – Cost $658 for each lifetime reserve day after the 90^th day of the benefit period.

• Annual Part B Deductible – this deductible must be paid prior to Medicare Part B paying 80% of approved medical expenses. In 2018 this deductible is $183 and is paid once per calendar year.

Who offers Medigap Plans?

Medicare supplement plans are separate insurance policies offered by private insurance companies. These plans were designed to some or all of the gaps that Medicare does not cover. They are also called Medigap plans. Currently there are 10 different plans available lettered A-N and they are standardized by the government. This means regardless of which insurance carrier is offering the plan, they must all contain the same benefits within each plan letter.

For example a Mutual of Omaha Medicare Supplement Plan F has identical benefits to an Aetna Medicare Suppelment Plan F. Although the benefits are the same, the premiums that each carrier charges are not. In fact there can be substantial differences in the monthly rates for the exact same coverage.

Popular Medicare Supplement Plans

While there are 10 different Medicare supplement plan letters available to purchase, there really are just a few that make the most sense due to their great coverage and low premiums. Not every insurance company is required to offer every plan letter, but most offer the three most popular plans. These are Plan F, Plan G, and Plan N.

Medicare Supplement Plan F 2020 – Being Removed

Plan F has long been considered “the best” plan by many agents and those on Medicare because it pays 100 percent of the gaps in Medicare. This means all of your Medicare-approved expenses are paid and you won’t receive any medical bills.

With Plan F there are:

• No Co-pays
• No deductible to pay
• No coinsurance – Never get a bill

The main issue with Plan F is that the premiums are too high for the one extra benefit that you receive on this plan over Plan G. That one benefit is that Plan F pays all of your expenses including the annual Part B deductible.  For 2019 this deductible is now $185. What this means is, before Medicare pays anything, someone or some supplement plan must pay the first $185 of medical bills. After this deductible is met, then Medicare starts paying as does the supplement.

The problem is, the premiums for Medicare Supplement Plan F are almost always higher than $185for the year. This makes Plan G a much better option. You pay your Part B deductible yourself and save money.

Another big factor is that Medicare Supplement Plan F in 2020 is going way. If you are enrolled in Plan F prior to January 1st 2020, you can keep the plan. Anyone who is becoming eligible for Medicare on January 1st 2020 and after, will not be allowed to enroll in Plan F. In that case you should seriously be looking at Plan G, or perhaps Plan N for your Medicare supplement insurance.

As well, any time a Plan closes such as what is happening to Plan F, there is the strong possibility of much higher rate increases after that. And because switching plans requires that you pass medical underwriting, we strongly advise looking at Medicare Supplement Plan G if you currently have a plan F now and change now in case something like that happens.

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Medicare Supplement Plan G

As mentioned above the difference between Plan F and G is just who pays the annual Part B deductible. On Plan G you pay this yourself. Once this is met Plan G will pay 100% of the gaps or expenses that Medicare Part A and B do not cover. Plan G has also historically had lower rate increase than Plan F, making it one of the very best choices for people on Medicare.

Remember, with Plan G you just have one expense which is the Part B deductible. This amount is $185 in 2019 and will likely change in 2020. You pay this once per calendar year. After that 100 percent coverage! Use our quote engine to check the difference in premiums for both Plan F and G by entering your zip code at the top of the page.

Medicare Supplement Plan N

Plan N is quickly becoming one of the most popular plans as well due to it’s low premiums. People who are healthy but wanting a supplement plan should absolutely consider Plan N as the coverage is outstanding. It has premiums lower than both Plan F and G, with just a few more out-of-pocket expenses.

With Plan N:

• You still pay the annual Part B deductible just like Plan G
• After the deductible is met, you might have a small co-pay each doctor’s visit (Never more than $20 though)
• If you visit the ER on Plan G and you’re not admitted to the hospital there is a $50 co-pay
• There is the very small chance you might be billed Part B excess charges, however most doctors do not charge these

Again due to the low premiums of Plan N you will definitely want to check the rates to see if this is a good option for you.

Or you can call us any time at 888-891-0229 and we’ll explain everything over the phone.

Changes to Medicare Supplement Plans in 2020- Benefits

There are several changes to Medicare supplement plans in 2020. The big one of course is the removal of Plan F from the line up as explained above. As well, the high-deductible version of Plan F is also being removed, as is Medicare Plan C. This will make Plan G the most comprehensive plan available, and as well

Therefore Plan G and Plan N will remain the most popular plans with companies such as United Healthcare, Mutual of Omaha, Aetna, Transamerica, IAC, Blue Cross, and Cigna just to name a few, being the most popular companies offering them.

One important factor will be the Medicare Part B deductible for 2020. This deductible is $185 in 2019, and the Part B deductible for 2020 will not be released until October of 2019. Keep checking back as we will update you once this is released!

Top Medicare Supplement Companies

There are several different companies that offer Medicare supplement plans in various states. As mentioned the important thing to remember that each of the companies has the same coverage within each plan letter for supplements. A Plan G is a Plan G, with identical coverage, regardless of who offers it. The big difference, is price! The cost each month for the same coverage can and does vary widely between each company. That’s why people love to use us to help them. For NO cost we shop the rates each year, so you don’t have to! And you never pay us a dime for it!

United Healthcare Medicare Supplement

United Healthcare is obviously an extremely popular insurance company, so much so that they teamed up with United Healthcare to offer their Medicare Supplement Plan. As a publicly traded company (UNH), United Healthcare is financially stable and offers a wide variety of products.

Some great benefits that come along with enrolling in a United Healthcare Medicare supplement are:

• Visit any doctor that accepts Medicare in the United States – No network
• Many additional benefits of membership with United Healthcare
• Silver Sneakers benefit including gym membership (in select areas)
• A household discount for couples
• Vision discounts through Eye Med in various areas
• United Healthcare Medicare Supplements are offered in Plans F, G, and N as well as a few others. Depending on state the rates for each supplement plan can vary widely, making it extremely important to use our FREE assistance to see if United Healthcare is competitive in your area.

United Healthcare Medicare supplement Plan F

United Healthcare does in fact offer Plan F in all the states they are in, however it is our experience that it is almost always not priced competitively. As with all the companies, Medicare Supplement Plan F will no longer be offered by United Health care to new folks on Medicare after January 1st.

United Healthcare Medicare Supplement Plan G

Recently in 2017 United Healthcare began offering Plan G in many states, and it seems to be a big success for them. By paying the annual Part B deductible yourself, you can usually save money by enrolling in Plan G. Be sure to let us help you check rates if you’re considering either of these plans.

Mutual of Omaha Medicare Supplement

Chartered in 1909, Mutual of Omaha offers a large numbers of insurance products which include Medicare Supplement plans, group insurance policies, and accident policies. With an A+ A.M. Best rating, along with a AA- Standard and Poor rating, they have tremendous financial stability and are an outstanding choice for your Medicare supplement policy.

Mutual of Omaha operates under their flagship name as well as other subsidiary names, such as Omaha Insurance company, United of Omaha, and United World.

Mutual of Omaha Medicare Supplement Plan F

As mentioned above, Medicare Supplement plan F is one of the most popular plans due to 100% coverage. Those wishing to enroll in a Mutual of Omaha Plan F should carefully analyze the rates for Plan G as well, due to the possible savings. No one enrolling in Medicare on January 1st of 2020 or after will be allowed to enroll in a Mutual of Omaha Plan F.

Mutual of Omaha Medicare Supplement Plan G

Nearly identical to  Plan F, Mutual of Omaha Medicare Supplement Plan G offers the same 100% coverage, after you pay the annual Part B deductible of $183. Once that is met, Plan G pays 100% of the gaps in Medicare Part A and B. Therefore, checking the rates and premium difference between Plan F and G is a wise move to see how much savings there is by enrolling in Plan G

Mutual of Omaha Medicare Supplement Plan N

Plan N offers great coverage, but not as much as Plan G. It does have lower premiums, however much like Plan G in where you must meet the annual deductible of $183, on Plan N you also might have a co-payment of up to $20 per doctor’s visit after you meet the deductible. The co-payment amount is determined on how they code the procedure at your visit. There might be no co-pay amount at all.

Aetna Medicare Supplement

Aetna is a very popular company and likely a name you have heard about throughout the years. Aetna owns a number of subsidiary companies such as American Continental, Aetna Health and Life, and Continental Life. Depending on where you live you might see any of these names offering Aetna Medicare Supplement Plans. They have an A rating with A.M. Best.

Aetna’s main offerings for Medicare Supplements include the usual Plan F, G, and N.

Cigna Medicare Supplement

We have many clients with Cigna as their Medicare supplement carrier. As a top rated company Cigna offers all the most popular Medicare Supplement plans. Cigna offers business through a variety of different subsidiary companies, such as American Retirement Life insurance Company, Loyal American Life Insurance Company, or Cigna Health and Life. They have over 15 million customers worldwide and are publicly traded (NYSE: CI).

When To Enroll in a Medicare Supplement Plan
If you are just enrolling in Part A and Part B you have a six month time frame that is called the open enrollment period. During this time you may enroll in a Medigap plan and be guaranteed coverage regardless of any pre-existing conditions you might have. Therefore it is a good idea to start your Medicare supplement coverage the same day as your effective dates of Part A and B Medicare.

Anyone who chooses to opt-out of Part B Medicare due to having employer health coverage will still get this open enrollment period when they do a eventually enroll in Part B Medicare.

Please visit our learning center to help you understand the differences of each Medigap plan letter and to help you decide which coverage fit your needs the best. Once you decide on a plan than the next step is to get instant quotes online to compare the premiums from top companies in your area.

We can help you every step of the way to make sure you understand the coverage, as well as help you apply with the best company. We help make Medicare easy!