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Top Supplemental Medicare Plans for 2022


Supplemental Medicare coverage isn’t one size fits all. With so many options to choose from, we understand shopping around can be stressful and complicated. As your Medicare experts, we want you to help find the best healthcare coverage for you. We put together a list of all the top supplemental plans & carriers for 2022. 

What are the Top Supplemental Medicare Plans for 2022?

The top supplemental Medicare plans for 2022 include Medigap, Medicare Advantage, and Part D. Once you determine which type of supplemental Medicare plan you want (Medigap, Medicare Advantage, and/or Part D) you can then compare the top plans & carriers for that specific type of supplemental coverage. 

Top 4 Medigap Plans

  1. Medigap Plan G
  2. Medigap Plan N
  3. Medigap Plan F
  4. High-deductible Plan G

Medigap, also known as Medicare Supplements, pays most of the remaining costs not covered by Original Medicare. It pays for out-of-pocket costs including deductibles, coinsurance, and more. For some individuals, Medigap saves money and is valuable for people who like to travel abroad.    

Before you can enroll in Medigap, you must already be enrolled in Part B. This means that in addition to your monthly Part B premium, you’ll also have a monthly premium for Medigap. When comparing supplemental Medicare policies, you won’t have to worry about comparing benefits between carriers. That’s because the benefits are standardized by the federal government. They remain the same from carrier to carrier.  

It’s important to shop around and compare the premiums across multiple carriers. An agent that works with multiple carriers can help save you time by comparing the letter plan you want to enroll in side by side with all the carriers offering the plan in your area.

These policies ensure you have a wide range of benefits without limitations. In other words, they give you the freedom to go where you want, when you want, without having to worry about how much you’ll have to spend out of pocket. Now that we know what the top Medigap plans are, let’s go over the top Medigap carriers for 2022. 

Top 4 Medigap Carriers

  1. Aetna
  2. Cigna
  3. Mutual of Omaha
  4. United American 

When researching Medigap carriers, it’s important to take into consideration their rate increase history, current ratings through AM Best, and the overall history of the company. Yes, benefits remain the same from carrier to carrier when it comes to Medigap plans, but the best carrier may not be the one with the lowest premium.

This is another way a Medicare agent can help. They can provide you a simple-to-understand comparison of all the carriers side by side to help you make the best decision. 

Top 4 Part D Carriers

  1. AARP Medicare Rx
  2. Mutual of Omaha Rx
  3. Aetna Silverscript Rx
  4. Humana Rx

Part D is the prescription drug coverage part for Medicare. Part D plans work well with Medigap plans since Medigap does not include drug coverage. Even if you’re currently not taking medications, you should still enroll when you’re first eligible for Medicare. This is because delaying without another form of creditable coverage could result in a late enrollment penalty.

Top 4 Medicare Advantage Carriers

  1. UnitedHealthcare
  2. Aetna
  3. Cigna
  4. Humana

Medicare Advantage plans are offered through private insurance companies. When you enroll in these plans, the private carrier pays for your medical care instead of the federal government.

While they must cover the same services as Original Medicare, the carrier determines how much of that service they will cover. Because of this, it makes it impossible to predict your out-of-pocket costs.

Medicare Advantage plans also come with many limitations. It’s important you become familiar with all the limitations before enrolling. You still have to enroll in Part B & pay the monthly premium to be eligible to enroll in a Medicare Advantage plan.

Advantage plans often come with a $0 premium, some even offer money-back on your Part B premium. However, the less you spend out of pocket upfront, the more you’ll end up spending out of pocket as you use the benefits.

How Do I Choose Which Top Supplemental Medicare Plan to Enroll In?

Think about what’s important to you… do you like to travel? Do you like to have the choice to go to any doctor? Do you like to have more predictability when it comes to your medical costs? Do you want benefits that won’t change annually? These are all very important questions to ask yourself when choosing.

There are many factors to take into consideration when it comes to choosing which supplemental Medicare plan is best for you. When comparing all your options, always consider your healthcare needs now, as well as in the future.

FAQs

Who is the largest Medicare Supplement provider?
Some would say Mutual of Omaha is the largest Medicare Supplement provider since they’ve been around since the beginning of Medicare. Their competition would probably be UnitedHealthcare since they are one of the carriers that offer plans in all 50 states.
What is the most popular Medigap insurance company?
If we’re talking about the most popular nationwide, it would probably be UnitedHealthcare. However, this could change from state to state since not all carriers offer plans in every state.
What is the most expensive Medicare Supplement plan?
The most expensive Medicare Supplement plan is the plan that covers the most benefits, which is Plan F. The runner-up plan is Plan G.
How much is Medigap per month?
This depends on the letter plan you enroll in as well as the state you reside in. Premiums for Medigap can range anywhere between $50 per month to $300 per month.
Why is Medigap so expensive?
Medigap is more expensive than other supplemental Medicare options because they truly fill in the gaps left by Original Medicare and they don’t come with limitations. Other supplemental Medicare options, such as Medicare Advantage, are less expensive but come with many restrictions & higher out-of-pocket costs.

How to Compare Supplemental Medicare Plans for 2022

Medicare is confusing in general, then you add supplemental plans to the mix and you become overwhelmed. There's so much Medicare jargon, it's difficult to really understand what you're enrolling in on your own. That's where a licensed Medicare agent can help.

You want one that works with multiple carriers that can compare all the different types of supplemental options, not just one or the other. That way, you get an unbiased point of view from an expert that truly understands how the plan you choose will work for you.

There is no cost to you when working with one of our agents. In addition, you will receive ongoing support for as long as you have the plan. If you have any questions about your coverage or need help filing a claim, your agent and our client care team will be there for you. Give us a call, or use our user-friendly online rate form to start the rate comparison process now.

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Lindsay Malzone

Lindsay Malzone is the Medicare expert for MedicareFAQ. She has been working in the Medicare industry since 2017. She is featured in many publications as well as writes regularly for other expert columns regarding Medicare. You can also find her over on our Medicare Channel on YouTube as well as contributing to our Medicare Community on Facebook.

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