Find Out Which Is The Best Medicare Supplemental Insurance For You

The best Medicare supplemental insurance will help pay the gaps in your coverage. Remember that Original Medicare pays for your health and medical needs. However, not all and the cost for these services could give you a headache.

best medicare supplemental insurance and comparison of medicare supplement plans

Remember, Medicare is a federal government program for seniors aged 65 and older. Also, it caters younger people with specific disabilities. Furthermore, it has four parts: Part A (Hospital Insurance), Part B (Medical Insurance), Part C (Medicare Advantage Plan) and Part D (Prescription Drug Coverage). Moreover, Medicare supplement quotes help fill the gaps in your Original Medicare coverage. In addition, it includes a myriad of options to choose from. First, you must learn about the different Medigap options before doing a comparison of Medicare supplemental plans.


What is Medigap?

Medigap, or Medicare Supplement Insurance policies are offered by private Medicare insurance companies. Further, they help pay the remaining health care and medical costs. Such as, coinsurance, copayments and deductibles. Moreover, Medicare Supplement Insurance policies are known as Medigap policies.

Sometimes, Medigap policies offer coverage for services which Original Medicare (Part A and B) does not cover. Such as, medical care when traveling outside the U.S. Mostly, Medigap does not cover long-term care, dental, vision, eyeglasses, hearing aids, or private-duty nursing.


Standardized Medigap Policies

Furthermore, each Medigap policy follows federal and state laws that protects you. In addition, it must be clearly identified as “Medicare Supplement Insurance.” Medicare insurance companies sell you a standardized policy which is identified in most states. Also, these are categorized by letters A through D, F through G, and K through N. However, some offer additional benefits so you can select which plan fits your needs. For instance, Medigap policies are standardized in a distinct way in Minnesota, Wisconsin, and Massachusetts.


Comparison of Medicare Supplement Plans

Again, there are different Medigap policies. Thus, refer to the chart below which shows basic information about the different benefits of Medigap coverage. Boxes with check implies that Medigap plan covers that benefit. For those with percentage, Medigap covers that percentage of the benefit. Otherwise, you are responsible for paying the rest.


Medicare Supplement Insurance (Medigap) Policies
Benefits F G N
Medicare Part A coinsurance and hospital costs (up to additional 365 days after using Medicare benefits) 100% 100% 100%
Medicare Part B coinsurance or copayment 100% 100% 100%
Blood (first 3 pints) 100% 100% 100%
Part A hospice care, copayment or coinsurance 100% 100% 100%
Skilled nursing facility care coinsurance 100% 100% 100%
Part A deductible 100% 100% 100%
Part B deductible 100%
Part B excess charges 100% 100%
Foreign travel emergency (up to plan limits) 100% 100% 100%

The top 3 Medigap plans are Plan F, G, and N. Plan F also offers high-deductible plan in some states. Further, this option means you must pay for Medicare-covered costs. Such as, copayments, coinsurance and deductibles. Moreover, the policy pays anything until the deductible amount of $2,200 is paid.


How Does Medicare Supplement Work With Medicare?

Basically, Original Medicare pays for medical and hospital bills. However, it is not sufficient for other costs of health care services and supplies. Thus, this is where comparing Medicare supplement quotes come in. In fact, you can buy Medicare Supplement policies from private Medicare insurance companies. Mostly, they help pay some of the remaining health care costs. Such as, coinsurance, copayments and deductibles.

Moreover, there are ten standardized Medigap plans. These plans may differ in costs and availability of each plan but still the same benefits. For instance, all insurance companies that offer Medicare supplement Plan F must provide the same standardized benefits.

Also, Medicare plans are stand-alone benefits. Remember that you must be eligible in Original Medicare to be eligible in Medigap. Otherwise, you also won’t be eligible for Medigap.

Moreover, here are essential facts about Medicare Supplement Insurance:

  • You must be eligible in Original Medicare (Pat A and Part B)
  • You pay the private insurance company a monthly premium for your Medigap policy in addition to Medicare Part B premium.
  • Medigap only covers one person so this means your spouse must buy a separate policy.
  • Also, Medigap policy does not cover prescription drug coverage. So, refer to Part D
  • Compare Medicare supplement quotes because costs vary and may get expensive as you age.
  • In some states, you can purchase another type of Medigap policy which is SELECT policy.


Which Best Medicare Supplemental Insurance Should You Choose?

There are 11 varieties Medicare Supplement plans. Refer again to the table above to know the different Medigap plans. Further, each plan includes the same standardized benefits regardless of location and carrier. However, these types of Medigap plans offer distinct levels of coverage. This means, Plan F coverage differs than Plan N.

Additionally, Medigap policies guarantees you it is renewable. This means, they can’t cancel your coverage even if for health reasons. Also, just remember to keep on paying your premiums.

Each plan covers these basic benefits:

  • Hospice care copayments and coinsurance through Medicare Plan A
  • Coinsurance charges through Medicare Plan A (up to 365 days after Original Medicare are used up)
  • First three pints of blood for medical procedures
  • Coinsurance and copayments through Medicare Plan B

However, most Medigap plans does not include coverage for the following:

  • Dental
  • Vision
  • Hearing aids
  • Long term care
  • Private-duty nursing
  • Prescriptions

Doing a comparison of Medicare supplement plans lets you aware of any out-of-pocket costs that may come with each plan. Moreover, it is crucial to remember that Medigap plans do not cover your coinsurance until you meet your deductibles. Unless, the coverage you choose also covers deductibles.

Some plans also have yearly out-of-pocket spending limits before they cover you 100%. The best Medicare Supplemental insurance prioritizes your needs and budget.


When to Buy Medigap Policy

The right time to purchase a Medigap policy is during your Medigap Open Enrollment Period. This is the 6-month period which begins on the first day of the month when you’re 65 or older and enrollment for Part B. Further than this date prohibits you from buying a Medigap policy. Also, it may cost more if you buy after this period.



Inzur Agents Can Help You Find The Best Medigap Plan

You can ask help from our agents to find the best Medicare supplemental insurance plan. We guarantee that the plan will meet your needs and budget. Indeed, Medigap is a good choice to help cover some healthcare costs. Contact us at 1-888-999-0089 for more information on Medicare and Medigap.