Medicare Supplement plans, or “Medigap” plans, can help ease that burden, but choosing among the many plans can be confusing. Below, we will analyze a Medicare Supplement comparison chart and break down your choices in an informative, user-friendly way.
Comparing Medicare Supplements for 2024
Although all ten Medicare Supplement plans share standard features, each plan is slightly different. Therefore, in choosing which Medicare Supplement plan suits you, it might be helpful to know what others in a similar position have chosen. Every year, Medicare releases a beneficial comparisons chart that allows people shopping for Medigap insurance to quickly view the ten plans and compare their features, or lack thereof.
*Except for copayment for some office and emergency room visits that do not result in an inpatient admission.
**After you meet your out-of-pocket limit and annual Part B deductible, your Medigap plan will pay for covered service at 100% for the remainder of the calendar year.
Remember: Not all Medigap plans on the comparison chart are offered by every state and will also vary depending on the insurance company.
Medicare Supplement Plan A:
Medigap Plan A is one of the lowest-cost plans with the least coverage.
- Medicare Part A coinsurance payments for inpatient hospital care for up to an additional 365 days
- Medicare Part B copayment and coinsurance expenses
- The first 3 pints of blood
- Part A Hospice Care Coinsurance
Medicare Supplement Plan G:
Medicare Supplement Plan G is a popular plan in 2024 because it covers almost all the expenses leftover from Medicare Part A or Part B, but it does not cover the Part B deductible. This is the sole difference between Medigap Plans G and F when looking over the Medicare Supplement chart.
Medicare Supplement Plan F:
As discussed above, Medigap Plan F is popular because it leaves no gap – or covers 100 percent of the costs – after the benefits from Medicare Parts A and B have reached their limit. For example, Medicare Plan F helps with Part B excess charges, hospital costs, Part B coinsurance, skilled nursing facility costs, nursing facility care, hospice care coinsurance, and more. It also covers the Medicare Part B deductible, differentiating it from the other most popular plans. Like Plans C, D, G, M, and N, Plan F covers some expenses incurred if you have a foreign travel emergency. Learn more about the high-deductible version, high deductible Plan F; you may like that this plan covers more than any other plan.
A Quick View of Medicare Supplement Plan F Benefits:
- Part A Hospital Coinsurance
- The hospital costs up to 365 days after benefits through Original Medicare are exhausted.
- Part A hospice care copays or coinsurance
- Part A deductible
- Part B deductible
- Part B preventive office visit coinsurance
- Part B coinsurance or copays
- Medicare Part B excess charges
- First, three pints of blood needed for a medical procedure
- Coinsurance for care in a skilled nursing facility
- Limited foreign travel emergency care
Please note: Plan F will no longer be available to NEW Medicare beneficiaries turning 65 after 01/01/2020. However, Plan F will remain available to Medicare Part A and B beneficiaries before 01/01/2020.
Medicare Supplement Plan N:
Although Medicare Supplement Plan N offers lower premium rates than Plans G and F, you must cover the Part B deductible and copays for your doctor and emergency room visits.
While viewing the Medicare Supplement comparison chart, it’s important to note some changes on the horizon. In 2020, federal regulations will stop allowing Medigap plans to cover the Medicare Part B deductible, precluding any new Medicare beneficiaries from enrolling in Plan F or Plan C. It’s predicted that, as a result, Plan G will be a much more popular choice among the ten plans in 2024.
How to Enroll in a Medicare Supplement Plan
Now that you’ve reviewed the Medigap comparison and decided on which plan offers you the most cost-effective and comprehensive coverage, we can help you begin the process of enrollment.
Naturally, that starts with how much it’s going to cost you. Rates vary depending on several factors, including where you live and your specific health insurance company, but we can help you find out what’s offered in your state. We can also help you compare rates from company to company with our online quote estimate tool or apply for coverage using our toll-free phone line.
Call our licensed insurance professionals today to address your questions and concerns about Medicare Supplement insurance.
In addition to talking to you about Medigap policy options and what each plan pays for, we can even tell you more about Medicare Advantage. For example, we can help you determine if a Medicare Advantage plan might be right for you. We can also share information about Medicare Part D prescription drug plans that provide drug coverage and can be added to a Medicare Supplement.
Before you talk to us and get help choosing an insurance agency and a Medicare Supplement plan, you’ll need to sign up for original Medicare and its primary benefits. These helpful resources can help you with that process. Then, you can call us or use our website to shop for Supplemental insurance plans like Medigap Plan A.