You may have heard insurance companies or Medicare policyholders talk about the best Medigap plans for 2018. But in truth, there isn’t a plan that supersedes the rest. Each plan has its advantages and disadvantages, and each plan will work best for different kinds of people.
The suitability of a plan is based entirely on how much coverage you require and what you can afford to pay. Just because a plan offers plenty of coverage it does not mean that it is a good idea to go for that plan. You could end up paying for coverage that won’t benefit you at all. And that’s just wasting money.
Let’s examine some of the most popular plans, as these are the ones you will often hear people touting as the best. Plan F, in particular, is often mentioned as the best plan out there. That’s because it offers the full coverage package. Plan F covers you for every single deductible, co-payment, excess charge and more. It also takes care of covering more blood each year, many more days of hospital stay costs, nursing care and travel costs for medical care in another country.
This plan is really best for people who have some major medical issues and need constant treatment. For practically anyone else, the plan is a waste of money.
Plan G gives you nearly as much coverage but at a reduced price. For that lower premium cost you will have to pay a Part B deductible of $183 (2017), but you get all the other coverage offered by Plan F.
With Plan N, you get a little less coverage than that. You have to pay that deductible again, and in addition, you will need to pay for any Part B excess charges.
Bear in mind that the less coverage you are receiving, the lower the cost of your premiums will be. What you want to aim for is to have as little coverage as you can get away with, while still covering possible medical conditions and treatments that you may experience in the near future. The best Medigap plans for 2018 will be those that really save you money and give you just what you need as far as coverage for your medical expenses. Enter your zip code at the top of this page to get quotes from multiple carriers for the most popular plans.
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