What is the Best Medicare Supplement Plan? Is there a one size fits all option? Or, is the best plan the most coverage? Many different factors go into deciding which Medicare Supplement plan is the best. Below we’ll go over the best Medicare Supplement plans today, including Plan N, Plan G, and Plan F.
What are the Best Medicare Supplement Plans for 2020
Pay Less Now, and More As You Go With Plan N
The first supplement plan we’re going to talk about is Plan N. Even though Plan N may not be as well known as other letter plans, it’s one of the Medigap plans we enroll our clients in the most.
The reason this plan makes this list is due to its lower premiums that make the policy more affordable than others. The only benefits Plan N doesn’t cover are the Part B deductible and any excess charges.
The reason the monthly premiums for Plan N are lower is because of the copays. In exchange for a lower monthly premium, you agree to pay a $20 copay at the doctors’ office and a $50 copay at the emergency room.
Tip: Over 90% of doctors accept Medicare and won’t charge excess charges. Some states don’t even allow excess charges.
Find Balance in Premium and Copays With Plan G
The next best Medigap plan we’re going to mention is Plan G. With Plan G, you’ll get the same benefits as Plan N plus coverage for any excess charges.
Also, you won’t have to pay those small copays that Plan N requires you to pay. In exchange for not having to pay a small copay every time you visit the doctors or hospital, you agree to pay a slightly higher monthly premium.
For many years, Plan G has been the runner-up plan to Plan F. This is because Plan F checks off the final box on the benefits list.
Forget Copays, Just Pay Your Premium with Plan F
Plan F is the all-inclusive Medigap plan. It leaves you with zero out of pocket costs. It covers the Part A and B deductible.
With Plan F, you won’t ever spend a dime on any medical services outside the monthly premium.
But, the legislation didn’t like this and discontinued Plan F to those newly-eligible after 2020.
High Deductible Plan Options For the Savers and Risk Takers
There are also two high deductible plan options. Both Plan G and Plan F have a high deductible version.
These versions have the same benefits as the standard plans, with the only difference being the deductible.
Both high deductible versions of Plan G and Plan F have a deducible of $2,340 per the calendar year. In exchange for having a high deductible, your monthly premiums will be significantly less than compared to the standard versions.
How to Determine the Best Medigap Plan for You
Trying to identify which option is the best is difficult when you don’t know the exact premium ratings in your area. For some, Plan N could make the most sense. But, for others, Plan G could be superior coverage. Many factors go into play; consulting an agent for advice and direction is our recommendation.
Frequently Asked Questions
How to Get Help Finding the Best Medicare Supplement Plan
There are way too many factors, many not included here, that you need to take into account when enrolling in the best Medicare Supplement plan. Don’t settle for just okay coverage when you’ve been paying into Medicare your entire life.
Compare the best plans for each type of supplemental coverage today. Our services are 100% free; we never enroll our clients in a policy that we wouldn’t enroll our family in. We genuinely care about your Medicare. Enroll in the best Medicare Supplement plan for you today. Give us a call at the number above. Or, compare rates now using our online rate comparison form.