There are 12 different Medicare Supplement (Medigap) plans available to most Medicare enrollees in 2023. Ten of these plans are standard Medigap options, and two are high-deductible plans. To determine which plan will meet your needs, comparing all options is essential. If you are looking to compare Medigap policies, our easy-to-read Medicare Supplement plans comparison chart makes reviewing these options easier than ever.
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Below we walk you through the process of comparing the benefits and costs of all available Medicare Supplement plans, as well as help you understand which option may be right for you. Please note, there is not a single best Medigap plan for all seniors. To be the best plan for you, it must meet your healthcare expectations and fall within your budget.
Medicare Supplement Plans Comparison Chart for 2023
Before you enroll in a Medicare Supplement plan, you must first be enrolled in Original Medicare. Medicare Supplement plans pay secondary to Original Medicare. Thus, helping lower (or eliminate) your out-of-pocket expenses. Regardless of the Medigap plan or carrier you enroll in, you will never be turned away for care by a provider who accepts Original Medicare.
The chart below compares all the available Medigap plans and the benefits they cover to help reduce your healthcare-related expenses.
Remember, there is no one-plan-fits-all scenario when it comes to Medigap options. While there are more popular plans like Medicare Supplement Plan F, Plan G, and Plan N, you may find your best option to be a less-popular policy like Plan K, Plan L, or even Plan A.
Regardless of your option, you’ll want to be sure the plan covers the costs you utilize most.
How to Compare Medicare Supplement Plans
Comparing Medicare Supplement plans can be considered a daunting task because of the large number of plan options. To break it down, when comparing Medigap plans, you should look at these main factors:
- Benefits
- Monthly premium
- Availability in your area
- Carriers
The right Medicare Supplement plan for you will combine necessary benefits and affordable monthly premiums with the availability to enroll in your ZIP Code through a high-rated carrier.
To compare benefits, you should evaluate your need and then compare each plan. Enrolling in a plan that offers too much coverage may seem like a great option. However, this could drive up your premium out of your budget. Likewise, enrolling in a plan that offers too few benefits could be detrimental to your wallet. You may end up paying more in out-of-pocket Thus, finding a plan to meet all your needs is necessary.
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Additionally, looking at things such as availability and carriers is just as important as choosing the right plan letter.
How Much Does Medigap Insurance Cost?
When you compare each Medigap plan, you will notice the average monthly premiums and out-of-pocket costs vary. When you have Original Medicare and a Medigap plan, you will still be responsible for the following expenses.
- Medicare Part B premium (and IRMAA, if applicable)
- Medicare Part A premium (if applicable)
- Medigap plan premium
- Medicare Part B Deductible – All Medigap plans except Medigap Plan C and Plan F
- Copayments – Not applicable on all plans
- Coinsurance – Not applicable on all plans
Medigap insurance cost varies by plan. Some options require copayments and deductibles, whereas others, such as Medicare Supplement Plan F, only require seniors to pay a deductible before coverage kicks in at 100%. Examples are Medigap Plan F and Plan C.
However, first-dollar coverage – meaning no deductible – is no longer available for those new to Medicare. Still, getting affordable, comprehensive coverage through policies like Medigap Plan G is possible if you signed up for Medicare in 2020 or later.
Understanding your out-of-pocket responsibility on each plan is essential before deciding which is best for you.
Medigap Cost Comparison Chart for 2023
When comparing Medigap plans, after benefits, price is likely at the forefront of your mind. Each Medigap plan requires a monthly premium, and often, the premium will directly correlate to the level of coverage your plan provides.
Your monthly premium can range based on various factors, including your gender, age, if you use tobacco products, your ZIP Code, and more. It is crucial to remember that the most significant factor in determining your Medigap premium is the plan letter you choose to enroll in.
Below, we compare sample monthly Medigap premiums for the below demographics – all non-smokers living in Tampa, Florida (33634 ZIP Code):
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Please note the prices listed above are subject to change based on several factors. These are only examples.
As you can see, men typically pay slightly higher costs than women, and the older you get, the higher your premium will be. However, this is not the same in all areas. Your state can require carriers to use specific rating methods that help determine your Medicare Supplement plan premium.
In areas where different rating methods are used, prices can vary slightly.
How to Compare Cost of Medicare Supplement Plans
Comparing the cost of your Medigap coverage is arguably the second most important factor when determining a Medicare Supplement plan aside from plan benefits. Calling several insurance companies to receive rate quotes can be extremely time-consuming. However, working with a Medicare insurance broker can help cut your cost comparison time in half.
When you work with a licensed Medicare insurance broker, you’ll be able to receive access to several Medicare Supplement carriers and plans all in one place. Your agent will be able to help you understand the differences between each plan, including the cost comparison.
Additionally, your agent will be able to help you compare out-of-pocket costs and premium costs to help determine which plan will be the most cost-effective for you in the long run.
To ensure you receive the most accurate price comparison, you’ll need to provide personal information such as your age, gender, address, marital status, etc. This information is helpful when your agent searched for potential premium discounts and availability.
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Medigap Out of Pocket Maximum
Navigating the Medigap maximum out-of-pocket (MOOP) limits for your Medicare Supplement plan can feel confusing. Maximum out-of-pocket limits are set on cost-sharing plans to limit the amount you are responsible to pay each year. Without this limit, you could be responsible for a fraction of your costs without a cap. One of the keys to remember is that both Medigap Plan K and Plan L are cost-sharing plans. This means that your plan covers each benefit it provides with a limit set to help you avoid paying over a set limit:
- Medicare Supplement Plan K covers 50% of each benefit.
- Medicare Supplement Plan L covers 75% of each benefit.
The Centers for Medicare & Medicaid Services (CMS) developed the United States Per Capita Costs (USPCC) estimates to calculate these increases in Medicare’s per capita limits. Medigap plans K and L have maximum out-of-pocket (MOOP) limits of $6,940 and $3,470, respectively, for 2023.
Calculations for the 2023 OOP limits come from estimates published by CMS of the USPCC for Medicare. Using the current estimates of the Total USPCC – non-ESRD for Medicare Part A and Part B for 2022 and 2023, the inflation adjustment for 2023 is calculated. For corrected estimates from prior years, an adjustment is made.
Remember, the more benefits you receive, the higher your premiums will also be. Therefore, seniors can expect the cost of Medigap Plan L to cost more than Medigap Plan K on average.
How Many Medigap Plans are Available?
There are 12 total Medigap plans available in most states, lettered A through N. This number includes two high-deductible plan versions; Medigap High Deductible Plan F and High Deductible Plan G. Each lettered plan covers the core policy benefits and different levels of additional benefits.
When comparing Medigap plans, it is essential to consider what each policy covers and how it aligns with your healthcare needs. Depending on the letter plan, you will receive coverage for out-of-pocket medical costs such as deductibles, copays, coinsurances, and more.
How to Enroll in a Medigap Plan
You can enroll in Medigap plans at any time throughout the year. However, your Medicare Supplement Open Enrollment window is the best time to enroll in a Medigap plan.
If you apply during this opportunity, carriers cannot deny you coverage. You will be eligible for any Medigap plan of your choice.
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If you miss your Medigap Open Enrollment Period or decide to enroll in a Medigap plan later in life, you can still do so. Yet, you will need to answer underwriting health questions in most states. Consequently, you can face denial or higher premium charges due to pre-existing conditions.
Medigap Plan Comparison in Massachusetts, Minnesota, and Wisconsin
In 47 of 50 states – plus Washington, D.C. – Medigap plans are standardized using the above-mentioned lettered naming convention. However, that is not the case in Massachusetts, Minnesota, and Wisconsin. The Medigap offerings in these three states are unique.
Although plans with their naming conventions are only available in their respective state, their benefits are comparable to the top Medigap plans. Seniors can use these policies with Medicare-accepting practitioners nationwide, just like the standardized Medigap plans in other states.
How to Learn More About Comparing Medigap Plans
Comparing Medigap plans is a reasonably simple but critical task when enrolling in coverage. We simplify comparing policies and keeping up with changes regarding Medicare.
At MedicareFAQ, our goal is to educate you on all there is to know about Medicare. From there, you can make the best decision for your needs. Our agents are ready to help you compare Medigap plans for the best healthcare based on those needs.
Call the number above to speak to one of our Medicare experts and get your free rate comparison today. Or submit an online rate form to see policies in your area.
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Sources:
MedicareFAQ is dedicated to providing you with authentic and trustworthy Medicare information. We have strict sourcing guidelines and work diligently to serve our readers with accurate and up-to-date content.
- How to Compare Medigap Policies, Medicare. Accessed April 2022.
https://www.medicare.gov/supplements-other-insurance/how-to-compare-medigap-policies - What's Medicare Supplement Insurance, Medicare. Accessed April 2022.
https://www.medicare.gov/supplements-other-insurance/whats-medicare-supplement-insurance-medigap - Medigap, CMS. Accessed April 2022.
https://www.cms.gov/medicare/health-drug-plans/medigap
My daughter is a young adult who was informed she is approved for Medicare.
She needs to know about getting Part B coverage and its costs and possible a Medigap policy. She needs constant medical care due to her condition–visiting and being tested by doctors on a regular basis. She wants the best medical coverage in Part B and a Medigap plan so she knows she will be cared for. I am her dad and will be willing to help pay for the best coverages for my daughter. Can you advise me on this and the best coverages to obtain? We live in New York and she resides in New York C
Jim, since your daughter is under 65, finding Medigap coverage for her will be more difficult. However, in New York City, there are carriers that offer coverage to her. You can use the Medicare plan finder tool and input her information. From there, a list of plans and carriers available to her will populate.
Michelle may also be eligible for Medicaid, depending on her income in her state. She should contact her local Area Agency on Aging who can tell her the criteria for her state.
New to Medicare . In the past paid for best insurance I could find.Signed up for BC&BS of Fl Advantage plan thinking I was getting like kind coverage . It has been a disaster.
I have now waited over a month for “ok “ to have an epidural. I have been use to just walking in and receiving care. What plans will allow procedures I have had I the past , be allowed.
Hi Pat! Unfortunately, many Medicare beneficiaries make the same mistake with Medicare Advantage. How long have you been enrolled in your Advantage plan? Did you enroll when you were first eligible for Medicare? If so and it’s been less than 12-months, you could be eligible for a Special Enrollment Period known as trial-rights. You can leave your Advantage plan and switch to a Medigap plan without going through medical underwriting. The best Medigap plan with the most coverage is Plan G. The only out-of-pocket cost you will have outside the monthly premium is the Part B deductible, which is only around $200. There is no prior authorization for procedures like there is with Medicare Advantage. As long as Medicare covers it, your Medigap plan will too. I hope this helps!
My wife and I each carry high-cost private insurance. We each turn age 65 this year on Nov 4 and 5. We have just applied online for Medicare A and B. I have just begun evaluating supplemental vs advantage plans. I have been putting off a common procedure (performed in an ambulatory surgery center) until it would be covered by Medicare as it would not be paid under my private plan due to its high deductible. I was planning to schedule this procedure for November so the expenses would be covered by Medicare part B. I’m just learning that parts A and B have calendar-year deductibles that do not seem to be prorated depending on when in the year you first enroll in Medicare (a clear disadvantage in my case as I would have to meet the deductible in the two months that are left in this year and again when it resets Jan 1. Can you suggest a strategy for my situation? Is the answer in selecting the right supplemental plan? Thanks in advance.
Hi Stephan! Easy solution! Enroll in a Medigap plan within 6-months of your Part B effective date and you will have coverage for the calendar year deductible under Part A. If you go with Medicare Supplement Plan G, the only out-of-pocket cost you would have is the Part B deductible, which is only $203.
I’m on social security disability and pension. I’m very low income I can’t afford the copays and I haven’ seen my doctors because I go often and cannot afford them. I’m soon to be without anything but Medicare and severely depressed due to this. I need help, please can you help me?
Hi Michele! I’m sorry to hear you’re struggling. I will do my best to help! Do you know what parts of Medicare you have? Do you have Part A, Part B, or a Medicare Advantage plan? I’m assuming since you are paying copays, you have a Medicare Advantage plan. If you’re low-income, you could qualify for a Medicare Savings Program & Extra Help. The MSP will cover most if not all of your cost-sharing, like deductibles, coinsurance, etc. Depending on which one you’re eligible for, it could also help you pay your Part B premium.Then Extra Help will cover your prescription costs.