Medicare Supplement Insurance is an insurance policy that covers the gaps not covered by Original Medicare.
This is a great option for beneficiaries who want to limit out-of-pocket expenses. The gaps include things like deductibles, coinsurance, and copayments, which are not covered under Original Medicare.
The Top Medicare Supplement Insurance Plans in 2023 are:
- Medicare Supplement Plan G
- Medicare Supplement Plan N
- High-deductible Supplement Plan G
- Medicare Supplement Plan F*
- High-deductible Plan F*
*Plan F is no longer available to anyone enrolled in Medicare on January 1st of 2020 or later
Medicare Supplement Insurance Plans
Medicare Supplement Insurance is available in all 50 states in the US, offering ten standardized plans as well as two high-deductible plans. These plans are lettered from A to N for ease of recognition. However, Plans F, C, E, H, I, and J are no longer available to people new to Medicare.
These plans are standardized, which means they all offer the same coverage no matter which insurance company offers them. Their rates are all entirely different, however.
Compare Plans and Rates
Medicare Supplement Plans & Coverage
While the plans are standardized, some states offer their standardized Medicare Supplement plan differently. These are Minnesota, Massachusetts, and Wisconsin.
Benefits as hearing aids, dental, vision, and long-term care are not provided under Medicare Supplement Insurance.
Coverage
Below are the basic benefits that you will find with Medicare Supplement insurance.
- Medicare Part A coinsurance costs. This covers an additional 365 days after the expiry of the Original Medicare benefits.
- Medicare Part A copayments and hospice care coinsurance
- Part B copayments and coinsurance
- The first three pints of blood
Each plan letter offers slightly different coverage. Below is a description of the most popular plans and their benefits.
Medicare Supplement Plan G
Medicare Supplement Plan G is now the most popular plan for people new to Medicare. It offers outstanding coverage with only one small annual deductible to pay.
This is called the Medicare Part B deductible. Medicare Part B covers doctor’s services.
Prior to Medicare paying 80% of your medical bills, you’re required to meet this deductible. The great news is, with Plan G once this deductible is paid, the rest of your medical bills are paid 100%.
Medicare Plan G
- Has No Network – You may visit any doctor or specialist in the United States, provided they accept Medicare
- No referrals are needed for a specialist
- No Co-pays
- No coinsurance to pay
- 100% coverage after you pay the annual Part B deductible
View Medicare Plan G rates now
Medicare Supplement Plan N
Medicare Supplement Plan N also offers terrific coverage, and it has even lower premiums than Plan G. This is because you might have some other out-of-pocket expenses on Plan N.
For healthy people who visit their doctor under 6 times in a year, Medicare Plan N is a fantastic choice.
What is Medicare Plan N?
With Medicare Supplement Plan N, you still pay that annual Part B deductible before Medicare starts paying anything. In fact, everyone on Medicare has to pay this.
After you pay the deductible, you could see some small copays with Medicare Plan N for each doctor’s visit, or an emergency room visit if you’re not admitted.
- Pay the annual Part B deductible, and then Medicare will pay 80% of your doctor’s expenses
- Medigap Plan N will then come in and pay the additional 20% of those bills
- You might have a small co-pay of $20 for each doctor’s visit after that. There’s no copay for telehealth visits.
- If you visit the emergency room and you are not admitted, you’ll need to pay a $50 copay
- Medicare Plan N does not cover Medicare Part B excess charges (Incredibly rare, and they do not apply in these states: CT, MN, OH, PA, RI, VT, MA, or NY)
View Medicare Plan N Rates Now
High-deductible Medicare Supplement Plan G
There is also a high-deductible version of Medicare Plan G for people who wish to have coverage in place “just in case”.
On this plan, you also still need to pay the annual Medicare Part B deductible each year.
Once you pay that deductible, you keep paying the 20% of medical bills that Medicare does not pay until you reach an amount of $2700 (2023 amount).
After you reach the higher amount, then 100% of your bills are paid by both Medicare and the high-deductible Plan G. The benefit of this plan is much lower premiums than standard Plan G, though most people choose to go with the higher coverage plans such as standard Plan G, or Plan N.
High-deductible Medicare Plan G - Things to consider
- Uses a very high deductible over standard Plan G
- Like all supplements, there is no Network, and can be used across the U.S.
- Has much lower premiums than standard Plan G, but higher out-of-pocket costs
Which Medicare Supplement Insurance plan is best for you?
With so many choices when it comes to Medicare insurance, it can get a bit overwhelming. We make the process easy for you!
We’ll help you find out which Medicare Supplement insurance plan will fit your needs the best, and answer any questions you might have on Medicare supplement or Medicare Part D drug plans.
Our service is entirely FREE, and you can view rates only simply by putting in your zip code below. Or you can call us directly today at 1-888-891-0229.
We look forward to helping you with your Medicare coverage today!
