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MEDICARE SUPPLEMENT PLAN COMPARISON
Medicare Supplement Plan Comparison – There are 10 Medicare Supplement Insurance plans lettered A through N. Each plan differs in the amount of coverage provided for the “gaps” left behind by Original Medicare. Medicare Supplement plans, also known as Medigap plans, are offered by private insurance companies licensed by Medicare. Each is required by Medicare to have standardized coverage and plan letters no matter which insurance company you purchase them from. The only difference you’ll find among plans is price of premium.
We have broken down the coverage of each Medigap plan below so you can make an informed decision about your healthcare coverage.
WHICH MEDICARE SUPPLEMENT PLAN IS THE BEST ?
The Medicare Supplement Plan F offers the broadest coverage, as seen in the table below.
Plan F includes:
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The deductible for Original Medicare Part A
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Deductible for Part B
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Excess charges for Part B
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After Medicare benefits are fully utilized, Part A coinsurance and hospital fees for up to an additional 365 days are still incurred.
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Coinsurance or copayments for Part B
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The initial three pints of blood used during a legally permitted medical procedure.
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Coinsurance for skilled nursing facilities.
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80 percent of a travel emergency abroad (up to plan limits).
Plan F is one of the most popular Medigap plans because of the security it provides. Due to its nearly identical coverage, Plan G is another supplement plan that is widely purchased. The only deductible for Medicare Part B, which is only $185 in 2019, is not covered by Plan G. It can make financial sense to pay the one-time Plan B deductible and save on the monthly premium of your supplemental plan if you can discover Plan G for a lot less money than Plan F.