In total there are 12 Medigap or Medicare Supplement plans which you can find in the majority of states within the USA. The plans are lettered A – N. However, you can refer to our videos as well as the Medicare supplement plans comparison chart for comparing these plans and making the right decision.
How can you Compare Supplement Plans?
You can refer to the Supplement Plans Comparison Chart to find and compare the coverage benefits offered by every plan type. Or call us today for a FREE consultation to help you decide which plan is best for you. Call us now at 1-888-891-0229
What is Medigap or Medicare Supplement insurance?
Medigap plans are health insurance policies that work with your traditional Medicare plan. These plans help in covering the gaps left by traditional Medicare like copays, coinsurance, some Medicare deductibles, etc.
Here’s what you need to know about Medigap:
Typically, your Medigap insurance won’t offer coverage for additional benefits. It just helps you cover the out-of-pocket expenses in relation to Medicare. Any hospital, doctor or pharmacy that accepts Medicare will accept Medigap too.
In case you have coverage for medical devices or healthcare services from Medicare, the Medigap Plan will take care of your out-of-pocket expenses. It means you won’t have to pay anything. However, to get this coverage, you need to ensure that you have the right plan and have paid the required deductibles.
What changed in Plan F and Plan C in 2020?
- The Medigap Plans C and F aren’t available to individuals who qualified for Medicare after or on the 1st of Jan 2020.
- In case you had a Plan F or Plan C before the year 2020, you can stay with your plan in the future.
Cost of Medigap or Supplement Plans
You can purchase supplement plans through us from private insurers. It means the premium that you need to pay will vary from insurer to insurer. The premiums are based on several factors and which plan letter we help you enroll in.
You can find a different combo of benefits with every type of Supplement plan. It means plans with lower will come with fewer benefits. Also, your location, tobacco use status, gender, and your age will affect the price of Supplement plans available to you.
Best Medigap Insurance Plan for 2021
You cannot define a single Medigap Plan as the best. This is because a particular Medigap might offer the coverage you need but for others, it might not.
Medicare Plan G
Plan G is now the most popular of all the Medigap plans. Plan G offers coverage for out-of-pocket expenses, however, the deductible for Part B is an exception. The deductible for Part B for 2021 is $203/year and will likely go up close to $210 for 2022.
You must consider your coverage requirements and the budget while you look for the right supplement or Medigap plan. If you know the cost of a plan beforehand, you can plan your monthly expenditure accordingly.
How Medigap Plans Work
The price of a supplement/Medigap insurance plan varies from carrier to carrier in different locations. For more info, you can check the Medicare Supplement Plans comparison chart. However, regardless of the location, the standardized benefits for each plan remain the same.
So, whether you live in Texas or Alaska, you’ll get the same basic benefits from Plan G in both locations. But there’s an exception to this. The plans may offer different benefits in Minnesota, Massachusetts and Wisconsin because of different plan standards.
Here are the standardized/set benefits that usually come with a Medigap Plan:
Hospital costs and Coinsurance for Part A
Medicare Part A helps in covering the hospital expenses in case you get admitted to a medical facility for some inpatient treatment. However, your deductible for Part A should be paid for the year which is $1,484 for 2021. Also, for the first sixty days of your hospital stay, you need not pay any coinsurance for Part A.
However, on the 61st day, you’ll have to pay the coinsurance which is about $371/day through day ninety. And once you surpass the ninety-day limit, you’ll have to pay $742/day for up to 60 days after that. And if your stay surpasses sixty-day limit too, you’ll be paying the entire cost from your pocket.
Deductible for Part A
You need to pay the deductible for the year for Part A which is $1,484 for every benefit period in 2021. Once you do that, only then you can expect the coverage. You should know that the deductible for Part A isn’t annual. You may have to pay that amount may be more than once in the year.
Deductible for Part B
You need to pay the deductible for Part B before getting coverage for medical devices and doctor appointments. The deductible for Part B for the year 2021 is $203.
Part B copayment or coinsurance
Once you pay for the deductible for Part B, there’s a copayment or coinsurance that you need to pay. It’s 20% of the amount approved by Medicare for the services covered. If there’s no Medigap plan that covers you for copays, there’s no cap to how much you might have to pay.
Part A coinsurance & hospice care
If you get your hospice care covered through Medicare, you’ll have to pay a copay for Part A for the drugs that you consume during hospice care. There’s also a 5 % coinsurance that you may have to pay for respite care charges.
Skilled nursing coinsurance
You need not pay any coinsurance for 1st twenty days of your stay in a nursing facility. However, there’s a payment of $185.50/day which has to be paid on and from the 21st day of your stay until the 101st day. After that everything will go from your pocket.
Excess charges for Part B
If you purchase services or medicines from a facility that doesn’t accept Medicare’s prices, you may have to pay excess charges. Such companies do not accept reimbursement from Medicare as full payment. It means the service provider can charge you 15% more than the price adjusted by Medicare.
Foreign travel for emergency care
Medicare Plan G and N both offer an emergency foreign travel benefit if you’re traveling outside the United States. There is a $250 deductible and it does in fact have to be an emergency. The plans will pay 80% of your coverage on qualified expenses.
What Are High Deductible Plans G and F?
As the name tells, Plans F and G come with a high deductible which is $2370 in 2021. You need to pay this deductible before you start getting the coverage. The high deductible, however, lets you enjoy a lower premium each month. The average amount for a standard Plan G premium in 2021 was about $145/month. And the high-deductible Plan G average premium was $57.16/month.
How to Enroll
The easiest way to enroll in a Medicare supplement plan is to just give us a call today at 1-888-891-0229.
Our service is entirely FREE, we promise you’ll be glad you called!