ORIGINAL MEDICARELast Updated on by
Compare Medigap Insurance Plans
There are 12 different Medigap plans on the market in 2021. Private insurance companies must follow federal standardization guidelines for each of these plans. We’re here to help you compare each Medigap plan and answer questions about Medigap insurance. Our main goal is to provide the information you need to find the right plan for you.
The Basic Benefits: Plans A & B
Don’t confuse Medigap Plans A and B with Medicare Parts A and B. Original Medicare includes Part A, which is inpatient hospital coverage, and Part B, which covers outpatient physician visits. Medigap Plans A and B are supplemental insurance to cover what Medicare doesn’t.
Plan A is the basic benefits supplement plan; it’s required by every Medicare insurance carrier to offer this coverage. However, each additional plan must have more coverage than Plan A.
Plan B offers slightly more coverage than Plan A. The only benefit Plan B covers that Plan A doesn’t is the Part A deductible.
Plans A and B aren’t ideal for people needing help with Part A and Part B deductibles or those looking for coverage on foreign travel emergency costs.
First Dollar Coverage: Plans F and C
Plan F is the most comprehensive plan available on the market. Those with Plan F have no out-of-pocket expenses on covered services. That’s why Plan F is considered a first-dollar coverage plan. High Deductible Plan F is also a first-dollar coverage plan with lower premiums in exchange for a high deductible.
Plan C offers first-dollar coverage as well. Plan C is different than Part C; Part C refers to Medicare Advantage plans.
The only benefit left uncovered on Plan C is Part B excess charges. Part B excess charges won’t apply, however, if all your doctors accept Medicare assignment. Additionally, some states don’t allow excess charges in the first place.
First dollar plans will no longer be available to newer beneficiaries. However, beneficiaries eligible for Medicare before January 1st, 2020, will still be allowed to enroll in first-dollar coverage plans.
The Next Option: Plan D
Since Plan C is going away for new beneficiaries, Plan D will become their next option. Plan D covers everything except for the Part B deductible and Part B excess charges. This is different from Part D, which is prescription drug coverage.
Most Popular for New Beneficiaries: Plans G and N
Since Plan F is going away for new beneficiaries, Plan G will be the most popular Medigap plan. The only benefit it doesn’t cover is the Part B deductible.
Plan G can offer beneficiaries more value than Plan F, as the total annual premiums for Plan G are at least $200 less than Plan F. A high deductible version of Plan G is also available. High Deductible Plan G offers the same benefits as standard Plan G but offers lower monthly premiums in exchange for a high deductible.
Plan N covers everything Plan G does, except for Medicare Part B excess charges. If you live in a state that doesn’t allow excess charges, you don’t need to worry about the fact that Plan N doesn’t cover them.
When choosing between the top Medigap plans, it’s important to compare what each covers before deciding which is right for your needs.
Cost-Sharing Medigap Policies: Plans K and L
A cost-sharing Medigap plan can save a beneficiary lots of money on premiums. However, it’s not always the best option for those with severe health problems.
The two cost-sharing plans available are Medigap Plan K and Plan L. These two plans are very similar; Plan L covers 75% of certain benefits, and Plan K covers 50% of the same benefits.
The benefits that require cost-sharing on both plans include the Part B coinsurance, the Part A deductible, skilled nursing facility coinsurance, the first three pints of blood, and Part A hospice coinsurance.
It’s important to note that these plans don’t cover the Part B deductible, Part B excess charges, or foreign travel emergencies. However, both plans cover 100% of the Part A coinsurance.
Deductible-Sharing: Plan M
This plan is ideal for seniors who are comfortable with occasional cost-sharing when admitted to the hospital.
How Much Does Medigap Cost Per Month
The monthly price of a Medigap plan can be anywhere between $50-$300 per month, depending on the letter plan you choose. The more your Medigap plan covers, the more it’s likely to cost. If you’re comparing Medigap to Medicare Advantage, you’ll need to consider your health needs first. Before signing up, make sure the Advantage network includes all of your providers.
How to Compare Medigap Plans for 2021
When you have a Medigap plan, you aren’t held back by network restrictions. You can receive care from any hospital or doctor in the U.S. that accepts Medicare, which means 96% of all providers!
If you travel within or outside of the United States, you can choose a plan that provides the coverage you need, wherever you are
The luxury of seeing any specialist you want in the United States that accepts Medicare assignment without a referral sounds like a dream. With a Medigap policy, it can be your reality.
As we age, our bodies require more health checkups. Medigap beneficiaries experience high-quality care and hassle-free coverage. Having the coverage you need makes life easier.
Enrollment is simple. Call the number above to speak to one of our Medicare experts and get your FREE quote. Or submit an online rate form today!
Q. I am Permanently Disabled since 2011, I get “extra help” from the State and they pay for part A and B on my Medicare. I have no additional coverage and Medicare doesn’t cover much. I can not take the prescribed medications for three compression fractures in my lower back and three in my neck. The pain is excruciating, so my Dr. suggested I try medical marijuana which I did “legally of course” This medication prescribed by a doctor is not covered under my medicare, but I have had Cigna for 11 years (for which I get assistance from the State in paying for the plan). Which by the way, being a former Insurance Agent in New Jersey I have had nothing but wonderful experiences in both selling and clients with claims. Would my Cigna RX plan cover this expense, or – having said all that, is there a plan that would pick up my deductibles, RX co pays, MM RX, eyeglasses, dental without a HUGE out of pocket expense? I would like to keep SSD as my primary, so is there any kind of supplemental insurance(s) out there that could help me with this.
Hi Bernadette! Unfortunately, until the FDA approves the use of medical marijuana, no insurance will cover it. The only all-in-one plan that covers your inpatient, outpatient, prescriptions, eyeglasses, and dental would be a Medicare Advantage plan. If you were interested in exploring other options, then a Medigap plan with a stand-alone Part D plan and a DVH plan would get you the coverage you’re looking for with less out of pocket expenses in the long run.