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Best Medicare Supplement Plans in Virginia – F, G & N Benefits

If you are looking for the best Medicare Supplement insurance plan in Virginia, you have 10 plans to choose from. You must be enrolled in Medicare Part A and Medicare Part B to qualify. Each of the 10 plans is standardized, meaning that no matter which insurance company you purchase a premium from or where you might live — from Richmond to Norfolk and elsewhere in the United States — you get the same coverage. However, rates are set by each company.

Each of the Virginia Medicare Supplement plans offers a different level of coverage to help with healthcare costs, from paying coinsurance and copayments not covered under Original Medicare insurance to paying Medicare Part B deductibles and medical expenses incurred while traveling abroad. You can purchase a Medicare Supplement insurance plan in Virginia from a state-authorized Medicare insurance company or through your last employer who offers Medigap insurance as part of a retiree health plan program.

Best Types of Medicare Supplement Plans in Virginia

The federal government has authorized 10 Medicare Supplement insurance plans to be sold in the U.S., and all 10 are sold in Virginia. Nationwide, and in Virginia, Plan F is the most popular. The fastest-growing plans are G and N. Plans G and N pay all deductible and coinsurance charges but not the Medicare Part B deductible. Plan G pays Part B excess charges, but N does not.

Although the benefits offered under each plan are standardized, an insurance company can charge whatever it wants for a policy, so it pays to shop around. For some policies in Virginia, rates vary according to zip code. Other policies cost the same regardless of where you live. Some companies give discounts for non-smokers, multiple beneficiaries in a household or electronic payments.

Most Medigap plans in Virginia are age-attained. The rates for premiums increase as you age. A few Medigap policies are issue-age, which means the cost is determined by your age when you enroll. Rates will not increase as you age. As such, there is no best Medicare Supplement plan in Virginia. To determine the best plan for you, study the benefits offered, compare the rates and evaluate your health care needs.

Benefits of Medicare Supplement Plan F in Virginia:

Medigap Plan F in Virginia, which is available both as a standard and high deductible plan, is the most popular of the Medicare Supplement plan options. When you purchase a plan like this from a health insurance company like Blue Cross Blue Shield, you can enhance your standard Medicare benefits in these ways:

  • Medicare Part A hospital coinsurance
  • 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
  • Excess charges for Medicare Part B
  • First three pints of blood needed for a medical procedure
  • Coinsurance for care in a skilled nursing facility
  • Limited foreign travel emergency care 

Benefits of Medicare Supplement Plan G in Virginia:

Another plan that offers a lot of coverage and that greatly reduces out of pocket costs is Medigap Plan G in Virginia. It has the second most robust benefits, behind only Plan F. It’s a cheaper Medicare plan that offers great coverage.

  • Does NOT cover Medicare Part B deductible 

Benefits of Medicare Supplement Plan N in Virginia:

You may want a plan with a cheaper monthly premium, but you might not feel like a base level plan like Plan A is going to offer enough coverage. Medigap Plan N in Virginia is a great compromise. It offers more benefits than Plan A but not as much as Plan G or Plan F. It’s an affordable plan for most but does require some cost-sharing.

  • Does NOT cover Part B Deductible
  • Does NOT cover Excess Charges for Part B
  • Requires $20 copay for office visits
  • Requires $50 copay for emergency room visits 

Medicare Supplement Plans in Virginia: When Is the Best Time to Enroll?

Virginia follows federal guidelines for enrolling in Medicare Supplement insurance plans. The best time to enroll is during your Medigap open enrollment period, which is usually when you enroll in Medicare Part B. During this initial enrollment period, you are given a six-month window to purchase any plan offered in Virginia. The insurance company cannot refuse to sell you a policy because of health problems or use medical underwriting. The company must:

•    Sell you any policy it offers.

•    Charge the same rates for everyone applying during open enrollment.

•    Begin coverage when you enroll.

However, if you have a preexisting condition, a company can impose a six-month waiting period to cover expenses related to that condition. After six months, the policy must cover the condition. Your Original Medicare insurance will be active during this waiting period. There are other times that you may be eligible to buy a policy without penalty, called guaranteed issue rights.

If you wait to purchase a policy after your initial enrollment period, a company can refuse to sell you a policy, charge higher prices or use medical underwriting. Your open enrollment period is the best time to select the best Medicare Supplement plan in Virginia that suits your situation.

While you’re exploring your options for signing up for a Supplement, you should also talk to an insurance agent about prescription drug plans. Medicare Part D prescription drug coverage helps Medicare beneficiaries save a lot of money on medication. Signing up for Medicare prescription drug coverage now is also important if you want to avoid penalties later.

Medicare Supplement Plans in Virginia: Enrollment Statistics

The population of Virginia in 2017 was 8,365,952 people. Of the 95 counties in Virginia, the five with the highest population are:

•    Fairfax: 1,142,004

•    Prince William:    450,763

•    Loudon: 374,558    

•    Chesterfield: 335,594

•    Henrico:    324,073    

Approximately 13 percent of the population is 65 years and older. More than 1,181,212 Virginians were enrolled in Medicare Part A and Part B at the end of 2018. Approximately 85 percent were enrolled because of age and 15 percent because of disabilities. Virginia ranks 13th nationwide in the amount of Medicare spending by state, at $12,686 million. It ranks 33rd in amount the spent per beneficiary, at $9,677.

In 2015, 368,473 people were enrolled in Medicare Supplement insurance plans in Virginia, or approximately 28 percent of all Medicare beneficiaries.

The five most popular Medigap plans in Virginia and the number of beneficiaries enrolled in each are:

•    Plan F 262,932

•    Plan G 43,581

•    Plan N 27,475

•    Plan C 9,210

•    Plan B 3,547

Because each lettered Medigap policy offers different benefits and has different rates for premiums, it is important to compare them to find the best Medicare Supplement plan in Virginia that meets your needs.

Resources in Virginia for Medicare and Medicare Supplement Plans

Here are a few links to resources about Medicare and Medigap plans in Virginia to get you started:

http://www.scc.virginia.gov/boi/pubs/02110.pdf

https://www.vda.virginia.gov/vicap.htm

https://www.scc.virginia.gov/boi/pubs/medsupcos.pdf – This chart shows providers and how policies are rated. One company provides Medicare Supplement insurance plans in Virginia for those under age 65 with disabilities.

https://www.scc.virginia.gov/boi/pubs/medsup_txt.pdf

http://www.medicare.gov – The official U.S. government website for the federal Medicare program. Here, you can find out about the Medicare coverage of Parts A and B, Medigap coverage, Part C Medicare Advantage plans and more.

Related Topics for Comparing Medicare Supplement Companies and Plans in Virginia

My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nations top rated carriers such as AetnaCigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.

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