Comparison of Popular Medigap Plans

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Basic benefits*, including 100%

Part B coinsurance

Part A deductible

Part B deductible

100% Part B excess charges

$0 plan deductible

Medicare Supplement Insurance

Medicare Supplement insurance, also knowns as Medigap, is designed to fill Medicare's coverage gaps.

Medigap plans are:

  • Federally standardized

  • Offered by private insurance companies

  • Accepted by all doctors that accept Medicare

*Basic benefits: 

  • Hospitalization: Part A coinsurance plus coverage for 365 additional days after Medicare benefits end.

  • Medical Expenses: Part B coinsurance (generally 20% of Medicare-approved expenses) or copayments for hospital outpatient services. Plans K, L, and N require insureds to pay a portion of Part B coinsurance or copayments.

  • Blood: First 3 pints of blood each year.

  • Hospice: Part A coinsurance.

How Much Does Medigap Cost?

What is Medigap Insurance?

Original Medicare covers about 80% of health care costs. Many Medicare recipients choose to supplement Medicare with a Medigap (also known as Medicare Supplement) plan. In most states you'll have the choice between ten standardized Medigap plans (plus the High Deductible Plan F). Medigap plans are offered by private insurance companies. 

Medigap plans do not include dental or vision coverage, nor do they pay for prescription drugs. Many people enroll in a separate prescription drug plan (known as Medicare Part D) when enrolling in a Medigap plan.

There is no annual open enrollment for Medicare Supplement plans. You can enroll in a plan at any time throughout the year. There are certain situations, however, when you can avoid underwriting and be guaranteed acceptance. These include your initial enrollment period, special enrollment periods, and some state-specific periods, such as California's Birthday Rule and Missouri's Anniversary Rule.

Medigap Plans are Federally Regulated

Medicare Supplement plans are purchased from private insurance companies. But regardless of which insurance company you enroll with, all Medigap plans are standardized. Each Medigap plan is federally regulated so that the coverage provided by each individual plan type is identical. That means, for example, Medigap Plan F provides the exact same benefits, regardless of the insurance carrier offering it. 

Basic Benefits:

  • Hospitalization: Part A coinsurance plus coverage for 365 additional days after Medicare benefits end.

  • Medical Expenses: Part B coinsurance (generally 20% of Medicare-approved expenses) or copayments for hospital outpatient services. Plans K, L, and N require insureds to pay a portion of Part B coinsurance or copayments.

  • Blood: First 3 pints of blood each year.

  • Hospice: Part A coinsurance.

*Plan F has a high deductible option. Plan F high deductible pays the same benefits as Plan F after you have paid a calendar year $2300 deductible. Benefits from high deductible Plan F will not begin until out-of-pocket expenses exceed $2300. Out-of-pocket expenses for this deductible are expenses that would ordinarily be paid by the policy. These expenses include the Medicare deductibles for Parts A and B, but do not include the plan's separate foreign travel emergency deductible.

Because Medicare Supplement plans are standardized, it makes sense to shop insurance companies for the lowest premiums. Occasionally factors such as a carrier's customer service or price increase history can weigh in favor of paying a little more each month in premium, but a qualified independent agent can help provide you with that information so that you can make an educated decision.

Medigap Plans Have No Networks

Enrollees in Medicare Advantage Plans belong to networks (for example, HMOs and PPOs). This is not the case for Medicare Supplement enrollees. Medigap plans have no networks.

 

This means your Medigap plan will be accepted anywhere Medicare is accepted. No pre-authorizations or referrals are needed to see a specialist. Medigap plans are a favorite or RVers or people with winter and summer homes because their plan will be accepted wherever they travel within the United States.

What are the Most Popular Medigap Plans?

Each Medicare Supplement plan is identified by letter. In most states, the available Medigap plans are Plan A, Plan B, Plan C, Plan D, Plan F, Plan F High Deductible, Plan G, Plan K, Plan L, Plan M, and Plan N. Of these plans, the vast majority of our clients are enrolled in one of the four following plans: 

While Plan F is the most comprehensive Medigap plan, there is no "best" plan. An agent can help you decide which Medigap plan makes sense based on your specific health and financial situation as well as the price of each plan in your area. The first step is reaching out and requesting a free Medigap quote.

Medicare Supplement Topics

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