Medicare Supplement plans pay a large portion of Medicare expenses such as coinsurance & deductibles. This can relieve you from the financial burden of medical bills.

Medigap policies are available to beneficiaries across all 50 states. Also known as Medicare Supplements, these plans provide predictability, protection, and overall peace of mind.

What’s Medigap, or Medicare Supplement Insurance Plans

Supplement plans are extra insurance purchased from private companies. These policies help cover expenses beneficiaries are otherwise responsible for paying themselves.

So, in the event of a serious medical emergency, you won’t be responsible for 20% of the cost. Instead, the Medigap policy will cover those expenses.

Is Medigap the same as a Medicare Supplement?

Medicare supplement policies are sometimes referred to as Medigap policies because they fill the gaps of Medicare. You will see these terms interchangeably.

12 Medigap (Medicare Supplement) Letter Plans

Medigap plans are identifiable by letter, Plan A through Plan N. Each lettered plan is standardized. So, Plan G in California has the same coverage as Plan G in Florida.

Generally, the best plan options are Plan G, Plan N, & Plan F. But your eligibility will determine which plan is right for you.

Importantly, Massachusetts, Minnesota, and Wisconsin standardize plans in a different way.

What do Medicare Supplement Plans Cover?

Supplement plans all cover 100% of the Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used. Also, Medigap plans cover all or part of the Part B coinsurance or copayments.

In the hospital, the first three pints of blood are covered in full. All plans cover at least a portion of the Part A Hospice care coinsurance or copayment.

Most of the Medigap options cover the Part A deductible and the skilled nursing facility care coinsurance. Plan F and Plan C cover the Part B deductible.

But Plan F and Plan G cover Part B excess charges. If you’re someone that travels outside of the country, Plan C, D, F, G, M, and N cover foreign travel emergencies up to plan limits.

Supplemental insurance exists because what Medicare covers, isn’t everything. Knowing your financial risks and protecting yourself is important.

Medicare Supplement Plans Lettered A-N

Which Companies offer Medigap Insurance?

A lot of major private insurance companies that you may have seen through employer insurance offer Medigap plans. These companies include Aetna, Cigna, Humana, UnitedHealthcare, and many more.

When Can I enroll in a Medicare Supplement?

The best time to enroll in a supplement policy is during your Medigap Open Enrollment Period or during a Special Enrollment Period.

During either of these times, you’ll be granted guaranteed issue rights on your policy. This means you avoid underwriting and get the best possible premium rates.

Will my Medigap application go through underwriting?

If you’re changing policies to find a lower premium or you missed a Guaranteed Issue opportunity, it’s likely that you’ll go through an underwriting process. But, in most cases, underwriting isn’t a big deal.

Sure, there are questions about your health, but these companies understand that with age there are health issues. You can expect if your health issues are under control, even with medications, that your policy could be approved.

Working with an insurance expert can save you time in trying to figure out which company is most likely to approve your application. The agent can also inform you if changing policies isn’t in your best interest, it’s their fiduciary duty to lead you in the right direction.

How much is a Medicare Supplement?

On average a Medigap policy can cost between $50 – $300 monthly. The cost of a Medigap policy varies by state and the insurance company.

For example, a Plan N in Washington could cost less than a Plan N in New York. Premiums depend largely on the plan you select. A good rule of thumb, the more coverage you have the higher the premium.

Why should I buy a Medigap plan?

The cost of healthcare services Medicare won’t cover can be significant. Especially for those that need extensive treatments or long-term hospital stays.

If you’re someone that likes to travel, enjoys having the freedom to see any doctor you like, or don’t want unexpected medical expenses then you should buy a Medigap plan.

What is the best Medigap plan?

After comparing costs and benefits, many people may find Plan N to be the most beneficial policy.
Plan N provides a balance of lower cost in premiums and the ability to pay less when going to the doctor less which saves you in out-of-pocket expenses.

But Plan N won’t be the best option for everyone everywhere.

Two other respectable plans are Plan F, which if you’re eligible covers all the costs Medicare would expect you to pay.

Then, Plan G covers almost the same as Plan F. The only difference is it doesn’t cover the Part B deductible.

What is the easiest way to compare Medicare Supplement plans?

Working with an insurance agent or broker gives you the ability to understand which companies are going to provide you with the most value.

If you’ve ever searched for other types of insurance, you know how time-consuming it can be to contact each company individually.

Well, licensed Medicare insurance experts can take away the frustration of endless online searches.

These professionals represent top Medicare carriers and can help you identify the best Medigap policy as well as the best company for your needs.

How do I Sign Up for a Medicare Supplement Plan?

Signing up for a Medicare Supplement plan is easy. Insurance agents can help you enroll over the phone.

You don’t even need to leave the comfort of your home. In just a few minutes you’ll have more coverage than Medicare alone can provide you.

Give us a call, or compare rates online to discover which plans will provide you the best value. To get rates, complete our quote form.

by Lindsay Malzone, Lindsay Malzone is the Medicare expert for Medigap.com. She's been contributing to many well-known publications as an industry expert since 2017. Her passion is educating Medicare beneficiaries on all their supplemental Medicare options so they can make an informed decision on their healthcare coverage.
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