Compare Medigap plans using the comparison chart below. This will show you the benefits for all of the different Medigap plans. The chart is reprinted directly from Medicare’s Guide to Health Insurance for people with Medicare (click picture to enlarge).
Comparing Medicare supplement plans is fairly easy because the plans are standardized by the federal government. That means you can use the chart below to find the plan that covers the set of benefits you want. Then shop rates offered by various insurance companies with our free Medigap rate comparison report.
Plan F and Plan G are the two most popular Medigap plans. However, we’ve seen more people get interested in Plan N in recent years. Plan N offers lower premiums if you are willing to do a bit of cost-sharing.
Compare Medigap Plans – Benefits
Medicare publishes a booklet each year that includes this Medicare Supplements Plans comparison chart. The Medigap comparison chart allows you to see Medicare supplement plans and their benefits side by side. The most recent edition for 2016 has this chart published below. (The 2017 Medigap comparison chart has not been released yet, but nothing major has changed).
Medigap Plans Comparison
The Medigap Plans comparison chart above compares all of the plans side by side. This allows you to see which ones have the most benefits, and which ones cover the least. As mentioned above, Plan F and Plan G cover the highest percentage of benefits, leaving you with very little out of pocket. Here’s a brief overview on each plan:
Medigap Plan A offers the most basic of all the Medigap plans. Even still, it will cover the 20% that Medicare doesn’t pay for on outpatient treatments. That’s arguably the most important piece of all Medigap plans. All Medicare insurance carriers must offer Plan A.
Medigap Plan B covers everything that Plan A covers but it also picks up the Medicare Part A hospital deductible. Plan B is a Medigap plan that pays after Medicare pays. Don’t confuse it with Part B, which is part of your Original Medicare benefits that pays for outpatient medical.
Medigap Plan C is one of the most comprehensive supplements. It covers everything except Medicare excess charges. This means it pays both of your deductibles and the 20% that you would normally owe toward all outpatient expenses. Medigap plans C & F are very popular.
Medigap Plan D covers most things but does not pay the Part B deductible nor any Medicare excess charges. This makes it one of the least popular Medigap plans. Don’t confuse it with Part D, which is your drug coverage – two different things.
Medigap Plan F has long been the most popular selling Medigap plans in the Medicare supplement world. It covers ALL of the items that you would normally pay, leaving you with nothing out of pocket on covered services.
Medigap Plan G has been gaining in popularity in recent years. It covers everything that Plan F does except for the Part B deductible. Premiums for Plan G are often very competitive, which can often make it a better value than Plan F.
These plans offer partial coverage of certain benefits. For instance, Plan K covers 50% of most items and Plan K covers 75% of most items. All three of these plans are rarely requested by Medicare beneficiaries, so not all carriers offer them.
Medigap Plan N was created in 2010. It offers lower premiums in exchange for you paying copays for certain things like doctor and emergency room visits. It also does not cover the Medicare excess charges. The lower premiums have been attractive to many beneficiaries, but we sometimes find that policyholders find the small bills for excess charges to be annoying.
Access to Doctors on Medigap Plans
Another great feature is that they enable you to see any doctor that participates in Medicare. You will have access to hundreds of thousands of providers across the United States.
Visiting a doctor is easy with Medigap plans because it doesn’t matter which insurance company your Medigap plan is through. As long as the doctor accepts Medicare, he will accept your Medicare supplement too. People often get confused about this because there are other types of plans, called Medicare Advantage plans, which require you to use networks. As long as you stay with Original Medicare, then you can see any doctor who participates in Medicare. (Around 91% of all U.S. physicians).
Compare Medigap Plans – Rates
When you compare Medicare supplement insurance prices, keep in mind that plans are standardized. Each company sets their own rates but the benefits for a Plan F are the same no matter where you buy. This allows you to shop prices.
We generally look at the top 3 – 5 lowest priced carriers for our clients. Then we determine whether you are eligible for a household discount. We also look at the history of rate increases at the lowest-price carriers. Finally, we review financial ratings. There are lots of great A and B+ rated companies out there, so there’s really no need to go with any company who has a lower rating.
Our agency will provide you a customized report to compare Medicare supplement plans in your zip code. This will help you compare current rates AND rate increases over the last few years. This helps you choose a carrier with stable long term rates. Just click the orange button at the bottom of the page to request your free comparison of Medigap plans in your area.
If you already know which plan you want, but are looking for reviews of insurance companies you are considering, click here to read our reviews.
Are you new to Medicare and are still learning about benefits under Medicare and Medigap plans? Don’t miss our New-to-Medicare page where you can sign up for our New to Medicare mini-email course. You’ll get great tips on when to enroll, how to enroll, and where to find the coverage that best fits you.
Once you learn the basics, you’ll understand what your Original Medicare benefits cover. It’s then much easier to choose the right supplement. We provide a free report so you can compare Medigap plans on prices, financial ratings and even the history of each plan’s rate increases.
For free help with what these benefits cover, reach out to us for free assistance at (855) 732-9055 today!
To continue learning about Medicare supplements and what they cover, go next to: Medicare Plan F where you can read why Plan F is the most popular plan in the nation.