Medigap insurance is a policy that helps pay expenses in both Medicare Part A and B such as deductibles, co-payments, and coinsurance. These expenses are called “gaps”, which is where the name Medigap originated.
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Medigap plans are designated in letters and each has its own different set of benefits.
The highest coverage plan is Medicare Plan G. This is also the most popular plan due to its fantastic coverage and low premiums.
The most popular Medigap Insurance Plans are:
- Medicare Plan G
- Medicare Plan N
- High-deductible G
- Medicare Plan F
- High-deductible F
* Plan F is no longer available to those new to Medicare after January 1st of 2020. The plan was simply too expensive. This leaves Plan G, Plan N, and High-deductible Plan G as your best options.
Medigap Plan G
Medigap Plan G is actually the best seller among the Medicare Supplements at this moment.
It is able to cover you for a lot of medical expenses, including copays for Medicare parts A and B, as well as the Medicare Part A annual deductible of $1,408. With Plan G, you will also be covered for Medicare Part B’s excess charges, helping you out when you go outside of Medicare’s network for care.
You will also receive coverage for those first three pints of blood you use for the year, as well as for nursing care, hospice care and foreign travel exchange costs.
This robust plan is often very affordable, and you can see rates by completing the form to the right. We will list the top companies and their rates in your area after you submit your information.
You will be able to check prices here and see what the rates are for the plan currently. Different insurance companies charge varying prices for this plan, and you’ll want to compare them to find the best deal.
Even when you compare the different rates for Plan G, you always get the same coverage. That’s because all Medigap plans have standardized benefits that Medicare has designed itself.
An easier way to get started and see which company offers the lowest rates in your area is to just call us today at 1-888-891-0229.
Medigap Plan N
While it doesn’t sell as well as Medigap plan G, Medigap Plan N is definitely worth talking about and not far behind.
It is going to be very economical for most seniors, as it covers a lot of supplemental expenses, providing excellent coverage, and it will also have an affordable price tag, making it high value.
In fact Plan N premiums are up to $30 less per month than Plan G.
The price is up to the insurance companies, though. They get to decide how much to charge for this and again, each company has a different rate for the same thing.
Knowing that the prices vary from one provider to the next event when the benefits remain the same is a game-changer for seniors, as they realize that they can find good deals and not miss out on their coverage.
Under Plan N, you’ll receive coverage for nursing care, blood usage, and foreign travel exchange.
You may notice a few different supplemental expenses missing from that list that you would find with some of the other Supplement plans.
With Medigap Plan N, you don’t receive any coverage for Medicare Part B’s annual deductible, but remember that this is a fairly minor expense.
You also don’t receive any coverage for Part B’s excess charges. These are incredibly rare and you’ll likely never come across one, and if you do it will most likely be less than $20.
In addition, Plan N doesn’t cover some of the copays for Part B, and these are just $20 for doctor’s office visits and then $50 for emergency room visits if you’re not admitted to the hospital. You need to pay those out of your own pocket.
Plan N is considered very cost-effective since it trims some of the “fat” off the insurance policy while maintaining low rates each year.
You can experience great peace of mind about your coverage with a plan like this and not worry that you may be paying for coverage that doesn’t apply to you or that you won’t need often enough to make it worth paying for coverage on.
Medigap Is Easy to Enroll in
Who is Medigap for? Since the enrollment age starts at 65 years old, we are going to say seniors, but there are some exceptions. If you qualify for disability, then early enrollment could be an option for you, in states where disability is offered.
You don’t have to wait until you turn 65 to apply for your Medicare plan. You can apply up to six months before your 65th birthday, and that is when the Open Enrollment period starts.
This is the best time to enroll, as it gives you guaranteed approval and low rates that are not affected by your preexisting medical conditions. Open Enrollment lasts until three months after your birthday month, giving you a total of seven months in which you can apply.
Open Enrollment is not the only time you are allowed to apply for a Medigap plan though. You can actually apply for one at any time during the year, and you may apply to change plans at any time.
You can apply during this time any year after age 65, but there is a caveat to that enrollment period. The price you pay for Medigap coverage can increase the longer you wait to enroll.
Our team of health insurance experts can help you out and advise you as to what your options are. Remember our service is entirely FREE. We’ll help you get the lowest rates for the best coverage now, and for years to come.
Call today, we promise you’ll be glad you did!