If you have Medicare, you might want extra help with your health costs. Medicare Supplement plans, also called Medigap, can help pay some costs. These plans cover things that Medicare Part A and Part B do not cover. But which plans are the best? Here, we explain the top 5 Medicare Supplement plans.
What Is a Medicare Supplement Plan?
Medicare Supplement plans help pay your health care costs. You pay a monthly fee for the plan. Then, the plan helps pay for things like copayments, coinsurance, and deductibles. These are costs you pay when you get care.
Medicare has different parts. Part A covers hospital care. Part B covers doctor visits and tests. But they do not pay for everything. Medigap fills the gaps.
How to Choose a Medicare Supplement Plan
Choosing a plan depends on your needs. Think about your health and how often you go to the doctor. Also, check the cost of each plan. Some plans cost more but cover more costs.
Remember: Not every plan is sold in every state. Plans are named by letters, like Plan A, Plan G, or Plan N. The letters do not mean better or worse. They just show what the plan covers.
Credit: boomerbenefits.com
Top 5 Medicare Supplement Plans in 2024
Below is a list of the top 5 Medicare Supplement plans. These plans are popular because they cover important costs and are affordable.
| Plan | Main Benefits | Who Should Choose It? | Monthly Cost Range (Estimate) |
|---|---|---|---|
| Plan G |
Covers most costs except Part B deductible. Covers hospital coinsurance, skilled nursing, and foreign travel emergency. |
People wanting almost full coverage. Good if you want low surprise bills. |
$110 – $200 |
| Plan N |
Covers many costs but has small copays for some doctor visits. Does not cover Part B deductible. |
People who want lower monthly premiums. Can pay small fees when seeing a doctor. |
$90 – $170 |
| Plan F (Only for certain people) |
Covers all costs including Part B deductible. Full coverage with no extra fees. |
People eligible before 2020. Those wanting no out-of-pocket costs. |
$130 – $220 |
| Plan C (Only for certain people) |
Covers most costs including Part B deductible. Does not cover foreign travel emergency. |
People eligible before 2020. Want wide coverage but no foreign travel. |
$120 – $210 |
| Plan A |
Covers basic benefits like hospital coinsurance. Does not cover many other costs. |
People wanting low-cost coverage. Good for those on a tight budget. |
$70 – $130 |
Credit: www.medigap.com
Details About Each Plan
Plan G
Plan G is one of the most popular. It covers almost all your costs except the Part B deductible. This means you pay the Part B deductible, then Plan G pays the rest. It covers hospital costs, skilled nursing, and emergency care when traveling outside the U.S.
Many people like Plan G because it gives strong protection. It helps avoid surprise bills. The monthly cost is a bit higher, but it might save money overall.
Plan N
Plan N is a good choice if you want lower monthly costs. It covers many costs but you pay small fees for some doctor visits. For example, you might pay $20 for a doctor visit or $50 for emergency room care.
Plan N does not cover the Part B deductible. So, you pay that yourself. This plan is good if you want to keep monthly fees low and don’t mind small copays.
Plan F
Plan F covers all gaps in Medicare. It pays your Part B deductible and all coinsurance and copayments. This means you usually pay nothing when you get care.
But Plan F is only for people who were eligible for Medicare before January 1, 2020. New people cannot buy Plan F now. If you have Plan F, it gives the best coverage.
Plan C
Plan C is like Plan F but does not cover foreign travel emergencies. It covers the Part B deductible and most other costs.
Like Plan F, Plan C is only for people eligible before 2020. It is less common but still a good choice for those who have it.
Plan A
Plan A is the most basic Medigap plan. It covers hospital coinsurance and some other benefits. But it does not cover the Part B deductible or other costs.
Plan A has the lowest monthly cost. It is good for people on a tight budget. But you might pay more when you get care.
Comparing the Plans
To help you compare, here is a simple table of what each plan covers:
| Benefit | Plan A | Plan G | Plan N | Plan F | Plan C |
|---|---|---|---|---|---|
| Part A coinsurance and hospital costs | Yes | Yes | Yes | Yes | Yes |
| Part B coinsurance or copayments | No | Yes | Yes (with copays) | Yes | Yes |
| Part B deductible | No | No | No | Yes | Yes |
| Skilled nursing facility coinsurance | No | Yes | Yes | Yes | Yes |
| Foreign travel emergency | No | Yes | Yes | Yes | No |
Important Tips
- Check if your state sells the plan you want.
- Compare monthly costs and coverage carefully.
- Think about your health needs and budget.
- Remember, Medigap plans do not cover prescription drugs.
- You may want a separate drug plan if you need medicines.
Final Thoughts
Medicare Supplement plans help cover costs Medicare does not pay. The top 5 plans offer different coverage and price options.
Plan G and Plan N are popular choices for most people. Plan F and Plan C are only for some older people. Plan A is the simplest and cheapest.
Choose a plan that fits your health needs and budget. Take time to compare plans before you buy.
Remember, having a good Medigap plan can give you peace of mind. You can focus on your health, not surprise bills.
Frequently Asked Questions
What Are Medicare Supplement Plans?
Medicare Supplement Plans help pay costs not covered by Original Medicare. They cover gaps like copayments, coinsurance, and deductibles.
Which Medicare Supplement Plans Cover Most Expenses?
Plans F and G cover most out-of-pocket costs. They offer the widest coverage for hospital and medical expenses.
How Do Medicare Supplement Plans Differ From Medicare Advantage?
Supplement plans fill gaps in Original Medicare. Medicare Advantage replaces Original Medicare with a bundled plan.
Can I Change My Medicare Supplement Plan Anytime?
You can change plans during open enrollment or special periods. Outside these times, you may face medical underwriting.
