Medicare is offering ten supplement plans with supplemental coverage for its subscribers. We’re going to look at Medicare Supplemental Plans for 2018 and what will change about them and what you should know before you sign up for one.
Changes for 2018
Thankfully, there are very few changes coming up for Medicare supplement plans in 2018. You still get the same coverage you have for the past year or so, Medicare has already confirmed. Only Medicare gets to change those plans and assign different coverage to any of this supplement plans. It may not sell the plans directly, but it does control the kind of coverage they can offer.
You also won’t see any changes to the lineup of plans. You get the same ten plans, with Plan F being the full coverage plan once again. You can count on the same lineup of high coverage and low coverage plans as before, so that’s comforting for those who are staying with their supplemental plans and those who have researched the kind of plan they want and are going be ready to sign up for a supplement plan in 2018.
These plans can change from time to time, but when they do, Medicare will let its subscribers know ahead of time about any upcoming changes. This lets them have the time to prepare to switch plans, if they need to. You don’t have to worry about unexpected changes taking place, as Medicare has done a very good job of alerting its customers about changes that are headed their way.
What will be changing, however, are the prices. You can expect the prices to ratchet up for just about every plan from just about every insurance company. This is par for the course for insurance plans. They tend to increase in price from year to year, so if you looked up prices for the plans you were interested this year or in past years, you can expect the prices to go up some time in 2018.
Each insurance company has their own prices for these plans, and they change theirs at different times, so don’t expect blanket price increases. You can source prices and compare them using online price comparison tools. These help you figure out who has the best price in way that is quick and efficient, not to mention accurate.
Choosing the Right Plan
You can get some great coverage for your medical expenses through Medicare supplement plans. Some of these plans won’t fit you very well, though, so you want to make sure that you are choosing the most appropriate one for your needs. You should have some idea of what will work well for you and what makes a good coverage plan for your situation. Then just look for the plan that lines up best with your needs.
You may find that none of the Medicare Supplemental Plans for 2018 are a perfect fit, and that’s okay. It can benefit you to have a bit of extra coverage for those unexpected medical costs that can occur throughout the year. You may also want to not bother covering some expenses you pay out of pocket right now. You may be able to save money by paying for those out of pocket.
You must be careful about which plan you go with. Not all of them will be decent picks for you. Some of them will cost you more than you can afford to pay and others won’t; cover you very well. You should take your time and look closely at what they are offering.
Most people will go for Plan F or Plan G, as these are some other highest coverage plans available. They can take care of expenses like deductibles, copayments, blood, firing emergency travel, excess charges and nursing care coinsurance. Plan G covers you for slightly less than Plan F, and Plan F is a full coverage plan, and it will take care of all the supplemental expenses for you.
But you may want to consider Plan N, which has a bit less coverage than either of these two and isn’t quite as popular. It may be to your benefit to pay for a few things out of pocket and not have to pay as much for insurance. That’s something to keep in mind for any expenses that you pay infrequently or that cost more to have covered by insurance than to pay on your own. There may be a few items like that for you. It varies from one person to another, which is why we urge people to look at their own expenses and needs and figure out which plan will work best for them.
The best plan for you will not necessarily be the same plan that is best for someone else. And you want to take time to look at what’s available. Once you figure out which plan you think will be a good fit for you, then you can start comparing prices and find the best deal on that particular plan.
The plans for Medicare supplement in 2018 may not be changing much, and you shouldn’t expect them to change much in the future either. However, you still need to take time to look them and make sure you know that you are getting. If you don’t like the plan you signed up for and you think you would save money by choosing another plan, then you can always change your plan later. It’s best to wait until the term has finished for that plan before you try it change to another, as you may need to pay some fees in order to change plans mid-term. But once the term is finished- be it a year or two years or more- you can choose whatever plan you want. You don’t need to be stuck forever with any of the Medicare Supplemental Plans for 2018.