Medicare makes a great basic plan that provides lots of coverage for those more common medical expenses. Of course, it doesn’t cover all healthcare costs for seniors, so there are other coverage plans that people can use to take care of those leftover expenses. Medigap plans are one of the more notable examples, and our site provides a way for you to compare the rates on Medigap plans 2020 and find a great deal that is going to save you money on your healthcare.
There are 10 basic Medigap plans available in 2020, along with a few variations of those basic plans. With all that variety, there is sure to be at least one that fits you pretty well and helps you to save money on your medical expenses for 2020.
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Medigap’s Healthcare Coverage
If you sign up for a Medigap plan, what kind of coverage would you be getting? There are only a limited number of supplemental insurance items covered by these plans, so let’s go over them.
Medigap plans will typically cover the cost of foreign travel exchange, which is going to take care of up to 80% of the cost of being transported outside the US for a medical emergency.
They also tend to cover the Medicare Part A coinsurance costs, which apply to hospice care.
Most Medigap plans will cover the cost of the Medicare Part A deductible too, which can be quite expensive, but only occurs once a year.
The Part B deductible is less commonly covered by Medigap plans, but it is also much, much smaller.
Medicare Part B’s excess charges are only covered by a couple of Medigap plans, and this is something that only occurs when you go to a medical facility for outpatient services and the healthcare provider does not fully accept Medicare coverage.
There are Medicare Part A and Part B copayments too that are covered by many of the Medigap plans. These are required to be paid each time you need inpatient or outpatient services.
Nursing care coinsurance is covers by most Medigap plans, as are the first three pints of blood that you use each year.
All of these expenses could be covered by your Medigap plan, but the majority of them will only cover some of these items for you. Check out the detailed information on the various 2020 Medigap plans here on our site and see how they compare in both coverage and pricing. We make it really easy to compare quotes and find the best deal.
A Look at the Medigap Plans
The top Medigap plan at the moment is Plan G, and that’s due to how economical it is while still being a high coverage plan. We think Plan G is a great choice for many seniors because of how much value it is offering. It will give you coverage for nearly everything we listed as supplemental coverage a moment ago. The only item on that list it does not cover is the Medicare Part B deductible. That is a rather insignificant $185 a year, so you are often better just paying for that yourself than trying to get it covered with an insurance plan.
Plan G also has a new version releasing in 2020. This is High Deductible Plan G, which will come with a higher deductible and lower monthly premium. It could work out to be a cheaper overall plan for some seniors, depending on what the final rates are. We will have those rates for you here on our site as soon as they are released.
Plan G isn’t the only high coverage plan available. You could also pick Plan N, which comes with a bit less coverage and a bit lower price tag. You can see how much it costs and how much the various insurance companies are charging for it when you use our site. We make it really easy to compare prices and source quotes, and this service is completely free to you. Plan N covers nearly all of the supplemental expenses. It won’t cover the Part B deductible, nor will it cover the cost of Medicare Part B excess charges, and it also requires that you take care of any minor copayments for doctor’s office visits and emergency room treatment. Other than that, though, it will cover all the supplemental expenses for you.
There is one more plan we need to talk about, and that is the former most popular plan- Medigap Plan F. Now, Plan F is not going to be something that most seniors can sign up for. It is limited now thanks to a new set of regulations known as MACRA. What this does to Plan F is make sure that the only people who can pick it for 2020 as their supplemental coverage plan are those that have it already in 2019. It is limited to renewals only, then, and that cuts down the potential subscriber base considerably. Because there are so few people who could sign up for it, the price on Plan F has to go up, especially since this is a recent change. The price is increasingly dramatically and in only going to go up from here as Plan F is relegated to a closed risk pool, along with another Supplement plan- Plan C. Plan F covers all the supplemental expenses, so it’s no wonder it was once the top plan, but with only a limited number of people able to sign up for it this year, it is going to delve into obscurity pretty quickly.
These are just some of the Medigap plans you can find available in 2020. The others all offer lower coverage than these, so they may be a better fit for you. Look up detailed information on each plan here on our site, as well as rates that are current and relevant to you. Before you decide on any of the Medigap plans 2020 has to offer, you should take time to compare them.
Should You Get Medicare Advantage Instead?
Medicare has some alternatives to Medigap, if you have trouble finding a Medigap plan that appeals to you and that works well with your needs. You could go with a Medicare Advantage plan, which offers a ton of coverage and usually comes at a very reasonable price. Like Medigap plans, all the prices are set by private insurance companies and not by Medicare. So, the prices will range from very high to very low on the same kinds of plans, and you want to use our site to source quotes and compare the rates to ensure you are not being taken advantage of.
Medicare Advantage plans are varied, but they all offer the same base coverage:
- Medicare Part A
- Medicare Part B
- Emergency medical expenses
- Urgently needed medical expenses
Many of the Advantage plans will offer coverage beyond that, such as for Medicare Part D’s prescription drug plan. They may also include cover for checkups you need throughout the year, which can include general wellness, vision, hearing and more. Included in that checkup coverage can be cover for prescription items like eyeglasses or hearing aids.
The Medicare Advantage plans 2020 has to offer are varied enough that you should find something suitable for your budget and your coverage needs. You can use our site to compare rates on the plans, and there is no better site for you to use to do that. Be aware that the network of your insurer is going limit where you get full coverage from. The seller companies that sell these plans tend to have smaller networks, so be sure to examine the networks before you make a decision.
You can protect yourself and save some money by choosing the right kind of network option for your Advantage plan. HMO plans are what most people will sign up for. These cover you fully within your insurer’s network and cover you for nothing outside the network. PPOs are another good choice, and they cover you fully in the network and partially outside of it.
Which Insurer Should You Choose?
If you decide to sign up for a Medigap plan, though, then you should know what kind of insurers you have to pick from. Some of these offer great member benefits or competitive prices. Others have a good record for customer service or offer a wide range of plans. You’ll want to take some time to look at your options. Remember that their prices are all different and that you can check the prices here on our website. Also keep in mind that no matter which of the companies you choose as your Medigap plan provider, the coverage on the plans does not change. The insurers can only choose which plans to offer and set the rates for those plans.
Here are some of the top providers for Medigap plans:
Aetna– (NYSE: AET) With Aetna, you get the backing of one of the largest insurers in the country. They have a lot of great benefits for consumers to take advantage of, including healthy living perks that make it easy to live better.
Mutual of Omaha– The reason many seniors sign up for a plan with Mutual of Omaha is because they like the reputation of this company. It’s a huge insurer as well, but they stay humble enough to watch out for their customers’ best interests and to keep their rates economical. They also offer a good range of plans and services that make them appealing to seniors of all kinds.
Cigna– (NYSE: CI) Cigna is all about stability. Being not just one of the largest insurers in the country, but also one of the largest companies in the US, they have the resources to withstand recession and other financial issues and still protect their customers from drastic price changes. Cigna has millions of subscribers across the country and a lot of different insurance options for them to pick from.
United Healthcare/AARP– (NYSE: AARP) With United Healthcare, you get the strength and medical resources of the parent company with the decades of experience that AARP brings to the table. Together, these companies are able to do so much for seniors, and their numerous connections mean that there are always great perks to offer that other companies can’t even come close to providing.
BCBS: (NYSE: ANTM) Blue Cross Blue Shield, or BCBS for short, is really a collection of small companies that work together and offer similar services, prices and plans. Their standout feature is their low rates, which you will find are among the best offered anywhere.
Will You Be Covered?
Unfortunately, we can’t tell you outright what the best Medigap plan will be for you for 2020, because we don’t know what your specific needs are. But you can talk to us and get your questions answered and hear advice on Medicare and Medigap plans. You may be on the fence about Medicare Advantage or some other insurance plan, and we can help you out there, offering you practical advice that helps you to make the right decision.
You should feel good about your coverage and should feel confident going to the hospital or doctor’s office with the coverage that you have. You can enjoy that peace of mind by using our site to compare the plans and their rates. We will guide you through the process and help you to make a decision you can feel great about.
Like many seniors, you can use Medigap plans 2020 is offering to save some money. You can get the coverage you need for your healthcare and not pay more than you can afford. This is all possible with the right plan from the right provider, but you have to choose wisely. Take your time and be sure to sign up during the Open Enrollment period for this year, which starts on October 15th. You’ll have until December 7th to pick your plan.
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