Medicare Supplement – What is it?

by Russell Noga | Updated May 11th, 2023

Medicare Supplement plans have been the choice of seniors for decades for their great coverage.

In 2020, Medicare decided to make some changes in its Supplement plans.

A few highest coverage offering plans are excluded from the line of supplementary plans and a new plan will be introduced in the medical insurance market.

These changes will be liked by the seniors and will soon become their choice as claimed by Medicare.

Click below to learn more!

Changes in the Supplement Plans

First, we will talk about the nature of changes in the supplement plan and their effects. Currently, the most popular Medicare Supplement plan is Medicare Plan G.

The changes in Medicare Supplement Plans were due to the new legislation that has passed because of which some less economical options like Plan F and Plan C are excluded for seniors.

These plans were costing a lot more than they should have.

As the pricing of the plan is decided by the insurance company that is selling them and due to their expensive rates, Plan F and Plan C won’t be available for new subscribers.

All the supplemental expenses were covered in Plan F which includes copayments, blood usage, coinsurance, deductibles, foreign travel exchange costs, and excess charges.

Although, it was covering most of the high-priced expenses but was costing too much and this is the main reason these plans will be discontinued.

Those who want to avail the last chance to subscribe to these plans should hurry up as later this will only be available for renewal only and no new enrollment will be made for this plan.

A new plan is ready to enter the insurance market as a substitute for these two plans. This plan is a high deductible Plan G and is almost the same as the regular Plan G.

The difference between High Deductible Plan G and regular Plan G is the price setup. This plan will cost you more for the annual deductible and will have a lower monthly premium.

It would give a better saving option in most cases and would be a great alternative to Plan F or Plan C.

So, if you are a subscriber of any of these plans, then you might want to consider the newly launched plan by Medicare.

Using our FREE Quote engine, our website gives you the prices and details about the top Medicare supplement plans offered today. Just fill out the form to the right to get started!

The free search tool is a fast and efficient way to make the comparison as many times as you want.

Medicare Supplement Plans Comparison Chart

Medicare Supplement Plans

Medicare Supplement Plans are much in demand than any other plan as they are affordable and offer incredible coverage. The benefits of Medicare Supplement plans to make them the best seller at a budget-friendly price.

The most popular plan for seniors in 2023 is Plan G. This plan is one of the most favorite plans for seniors for many years as its coverage and benefits are unmatchable.

It offers coverage for almost every medical need, which includes

• All Part B excess charges
• Annual deductible of Medicare Part A
• Copayments of Medicare Part A and Part B
• Coinsurance for Part A including hospice care
• Nursing care insurance
• First 3 pints of blood for the year (as the rest is covered by Original Medicare)
• Foreign travel exchange cost

All these benefits are also covered if you subscribe to the High Deductible Plan G but the only difference between these two Plan Gs is the price setup.

Another popular Supplement plan is Plan N. It gives you coverage for almost all the supplemental expenses, which are also covered by Plan G with only a few exceptions.

The only expenses that are not covered by this plan are the excess charges and deductible of Part B along with some minor copayments that are related to Part B.

Other than these plans, there are 6 more Medicare Supplement plans available from Medicare that you might want to consider. These plans are comparatively low in coverage from the plans that we discussed above and they protect only a few supplemental expenses for seniors.

These 6 Supplement plans are not as popular as the above plans as the majority of seniors purchase such plans that offer more coverage and are affordable as well.

  Question: What is the purpose of a Medicare Supplement Plan?

Answer: A Medicare Supplement Plan, also known as Medigap, is designed to fill in the “gaps” in Original Medicare coverage. It helps pay for out-of-pocket costs like deductibles, coinsurance, and copayments, providing added financial protection.

  Question: How many Medicare Supplement Plans are there?

Answer: There are 10 standardized Medicare Supplement Plans in most states, identified by letters A through D, F, G, K through N. Each plan offers a different level of coverage, and not all plans may be available in your state. There are also is a high-deductible version of Medicare Plan G and Plan F.

  Question: Are all Medicare Supplement Plans the same?

Answer: While each Medicare Supplement Plan letter offers the same standardized benefits across different insurance companies, the premiums may vary. For example, a Blue Cross Medicare Supplement Plan G is the same as an Allstate Medigap Plan G. However, the coverage details for each plan letter differ. For example, Plan G covers more out-of-pocket costs than Plan A.

  Question: Can a Medicare Supplement Plan deny coverage?

Answer: During your Medigap Open Enrollment Period, insurers cannot deny you coverage or charge more due to pre-existing conditions. However, if you apply for a Medicare Supplement Plan outside of this period, insurers may use medical underwriting, potentially denying coverage or charging more based on health.

  Question: How does a Medicare Supplement Plan work with Original Medicare?

Answer: A Medicare Supplement Plan works in conjunction with Original Medicare. Original Medicare pays for your healthcare costs first, and then your Medicare Supplement Plan pays for some or all of the remaining costs, such as deductibles, coinsurance, and copayments.

  Question: Is a Medicare Supplement Plan worth it?

Answer: Whether a Medicare Supplement Plan is worth it depends on your healthcare needs and financial situation. If you anticipate frequent doctor visits or need regular medical care, a Medigap plan could save you from high out-of-pocket costs. It’s important to evaluate your needs before deciding.

  Question: What is the most popular Medicare Supplement Plan?

Answer: As of my knowledge cutoff in September 2021, Medicare Supplement Plan G was often considered the most popular due to its comprehensive coverage, including all gaps in Medicare Part A and B except for the Part B deductible.

  Question: What is the difference between Medicare Advantage and Medicare Supplement Plans?

Answer: Medicare Advantage, or Part C, is an alternative to Original Medicare that often includes additional benefits like vision, dental, and prescription drug coverage. A Medicare Supplement Plan, on the other hand, is additional insurance you buy to cover costs not paid by Original Medicare. You can’t have both simultaneously.

  Question: Can I use my Medicare Supplement Plan anywhere in the U.S.?

Answer: Yes, you can use your Medicare Supplement Plan with any healthcare provider in the U.S. who accepts Medicare. This nationwide coverage is one advantage Medigap plans have over many Medicare Advantage plans, which often have network restrictions.

  Question: Do Medicare Supplement Plans cover overseas travel?

Answer: Some Medicare Supplement Plans, such as C, D, F, G, M, and N, provide coverage for emergency healthcare services when you’re traveling abroad. This coverage is typically limited to 80% of billed charges for certain medically necessary emergency care outside the U.S.