What are the most popular Medigap plans?
Updated: Jul 25, 2019
Sorting through all of your Medicare Supplement (Medigap) options can be overwhelming. After all, in some states there are as many as eleven Medigap plans to choose from -- to say nothing of the option to opt of of Medicare altogether and enroll in a Medicare Advantage plan. Luckily, there are four Medigap plans that are far and away more popular than the rest.
The Most Popular Medigap Plans
The four most popular Medigap plans are Plan F, Plan F high deductible, Plan G, and Plan N. Plan F and Plan F high deductible will no longer be available to newly-eligible enrollees in 2020, while a new high deductible version of Plan G becomes available. While each individual person's situation might make one of the other plans an appropriate option, more often than not, you'll end up enrolling in one of these four plans.
As you've likely heard, Plan F is the most comprehensive Medicare Supplement plan. With Plan F, you'll have no out-of-pocket medical expenses. The downside? As you might expect, it's the most expensive Medigap plan. Which brings us to the high deductible option...
If you're on Medicare, there's a good chance you're also on a fixed income. If that means you can't afford Plan F, the high deductible version might be a good option. As its name implies, Plan F High Deductible (also called Plan HDF) is identical to Plan F except it kicks in after you've reached the plan's $2,180 deductible ($2,200 in 2017). Plan HDF is significantly cheaper than Plan F. The premium is often under $100.
Plan G is nearly identical to Plan F, except that it doesn't pay for your Medicare Part B deductible. In 2019, the Part B deductible is $185. Since the only difference between Plan F and Plan G is the Part B deductible, deciding between the two plans comes down to a simple math equation: will your annual Plan G premium be more than $185 (in 2019) cheaper than your Part F premium? If yes, then choose Plan G.
Plan N makes sense if you don't go to the doctor very often and can't afford Plan F or Plan G. The $185 deductible and $20 copays make the policy less expensive. In some regions, such as Palm Beach, someone can save as much as $80 per month by going with Plan N. The main drawback is that Plan N doesn't cover "Medicare Part B excess."
Interested in a personalized Medigap quote? Simply give us a call or request a quote on our website and we'll provide you with a free, no obligation Medicare Supplement quote.