With so many options, you might be wondering which Medicare Supplement plans are the most popular in 2021. Below, we’ll go over the plans so you’re better prepared for the upcoming year.
Which Medigap Plans Are the Most Popular?
The most popular Medigap plans are Plan F, Plan G, and Plan N. High-Deductible versions of Plan F and Plan G are also available.
Plan F is the most comprehensive Medigap plan. It covers the Part B deductible and everything covered by Plan G. After Medicare pays its share, Medigap Plan F pays the rest.
This leaves beneficiaries with $0 out-of-pocket expenses. Enrollees pay a monthly premium, but they don’t need to pay deductibles or copays. Plan F includes full benefits and provides proper coverage for beneficiaries who require treatments for chronic conditions.
An excellent choice for those who:
- Frequent doctors’ offices and hospitals
- Live in a state that allows excess charges (if your state allows excess charges, it doesn’t mean your doctor charges them)
- Often travel outside the United States
Plan G is similar to Plan F. However, with Plan G, beneficiaries are responsible for the Part B deductible.
A wise option for those who:
- Prefer predictable out-of-pocket hospital costs and rate increases
- Reside in a state that allows excess charges
- Enjoy traveling outside of the United States
A high-deductible version of Plan G became available this year. It is a replacement for High Deductible Plan F. High Deductible Plan F provides identical benefits to standard Plan F (as well as a higher deductible that the beneficiary must pay in exchange for the lower premium).
Both standard and High Deductible Plan F are no longer available to newly eligible beneficiaries. Any Medicare-eligible beneficiary, regardless of when they become eligible, can enroll in High Deductible Plan G.
A more affordable option for those who:
- Want the same benefits as the standard version
- Are not happy with the premium of the standard version
- Occasionally have doctor appointments and visit hospitals
- Enjoy traveling outside the United States
- Live in a state that allows excess charges
Plan N is one of the most popular Medicare Supplement plans for all beneficiaries.
A popular option for those who:
- Wish to keep their monthly premiums comparatively low
- Are accepting small copayments
- Live in a state that does not allow excess charges, or are otherwise not worried about them
This plan requires beneficiaries to pay small copayments. For example, $20 for a doctor visit and $50 for an emergency visit. There are no copays required if you visit a local urgent care facility. However, excess charges are not covered by this plan. This will not be a concern for you if live in a state that does not allow excess charges. The states that prohibit Part B excess charges are as follows: Connecticut, Massachusetts, Minnesota, New York, Ohio, Pennsylvania, Rhode Island, and Vermont. If you want a lower premium and are comfortable with more copayments, this plan could work well for you.
What is the Most Popular Medigap Plan?
In the past, Plan F was the most popular of the Medigap plans. Now that it’s no longer available to newly eligible beneficiaries, Plan G is gaining popularity. It also makes more financial sense to many beneficiaries.
How to Compare Rates for the Most Popular Medigap Plans
You can compare Medigap plans by filling out our online rate form or giving us a call, regardless of when you became Medicare-eligible. We'll help you find the best letter plan and carrier for your health and budget needs.