Medicare doesn’t cover your healthcare in full; there are gaps. By knowing the top three Medicare Supplement plans for 2021, you ensure you’re getting the best coverage. The term “Medigap” describes a Medicare Supplement policy. A Medigap plan helps cover copays, coinsurance, deductibles, and extended hospital visits. You want Medigap because Medicare isn’t free.
Top 3 Medicare Supplement Plans for 2021
- Plan F
- Plan G
- Plan N
Plan F is the most comprehensive policy you can purchase. It’s the only plan with 100% coverage outside your monthly premium.
This plan is 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 travels outside the U.S.
For those eligible, there is a value-added version of this plan. Plan F also comes with a high-deductible version.
High Deductible Plan F
High deductible Plan F has the same benefits as standard Plan F. But, there’s a $2,340 deductible that you must meet before all your coverage kicks in. This deductible makes the monthly premium significantly lower than the standard Plan F premium.
High Deductible Plan F is the best choice for those who:
- Are looking for a lower premium
- Want comprehensive coverage
- Want peace of mind when it comes to medical expenses
Plan G replicates Plan F. The only difference is that it does not cover the Part B deductible.
Plan G is a wise choice for those who:
- Don’t want surprise out-of-pocket hospital costs
- Want rate increases that don’t catch them by surprise
- Like to travel outside of the United States
- Live in a state that allows excess charges
High-Deductible Plan G
High Deductible Plan G is a newer plan that was recently introduced. It covers the same exact benefits as the standard Plan G but comes with the same high deductible as High Deductible Plan F.
High Deductible Plan G is a more affordable option for those who:
- Are not thrilled about Plan G’s premium
- Are looking for the same benefits under Plan G listed above
Plan N has the lowest premium out of the top 3 Medicare Supplement plans in 2021.
Plan N is a top choice for those who:
- Are looking for a relatively low monthly premium
- Are okay with small copayments
- Are not concerned about excess charges
This plan requires you to pay small copayments when you receive certain services, such as $20 at the doctor and $50 for an emergency visit. However, if you visit one of your local urgent care facilities, you won’t have any copays. This particular plan doesn’t cover the excess charges. However, Part B excess charges are prohibited in the following states: Connecticut, New York, Ohio, Massachusetts, Minnesota, Vermont, Rhode Island, and Pennsylvania. If you’re comfortable with a few copayments in exchange for a lower premium, this could be the plan for you.
The Secret to a Lower Medigap Premium
The secret to getting the lowest Medigap premium is to enroll as soon as your Part B becomes active. When you first become eligible for Medicare, you qualify for a Guaranteed Issue. With Guaranteed Issue Rights, you get the best premium, and you’re not charged based on health conditions. If you decide to change your Medigap plan in the future, you could incur a higher rate based on pre-existing conditions.
How to Enroll in a Top Medicare Supplement Plan in 2021
You can easily compare plans and rates for 2021 by filling out our online rate form or giving us a call. We’ll help you compare the top plans and carriers in your area. Our insurance brokers can answer all your questions and walk you through the enrollment process. Let our Medicare experts help you find a plan in your area.