Medicare doesn’t cover your healthcare in full; there are gaps. By knowing what the best Medicare Supplement plans for 2021 are, you ensure you’re getting the best coverage. A Medigap plan helps cover copays, coinsurance, deductibles, and extended hospital visits. You want Medigap because Medicare doesn’t pay for all your healthcare costs.
Top 3 Medicare Supplement Plans for 2021
- Plan F
- Plan G
- Plan N
What is the Best Medicare Supplement Plan for 2021?
The best Medicare Supplement plans for 2021 include Plan F, Plan G, and Plan N. When it comes to finding the best Medicare Supplement plans for 2021, there’s no one size fits all option. Many different factors go into deciding which Medicare Supplement plan is the best. The best choice for your neighbor may not be the best choice for you.
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. You won’t ever spend a dime on any medical services outside the premium. But, the legislation didn’t like this. So, they proposed Medicare changes and discontinued Plan F to those newly eligible after 2020. Plan F is the most comprehensive policy you can purchase.
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.
This 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
Find Balance in Premium and Copays With 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 doctor 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.
Plan G replicates Plan F. The only difference is that it does not cover the Part B deductible.
This plan 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.
This plan 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
Pay Less Now, and More As You Go With Plan N
Medigap Plan N premiums are the lowest of the top Medigap plans in 2021.
This plan 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.
Even though Plan N isn’t as popular 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. The reason the monthly premiums 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.
How to Compare the Top Medicare Supplement Plans for 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.