Medicare Supplement Plans

Medicare Supplement plans can help pay remaining costs such as copayments, coinsurance, or deductibles that are not covered by Original Medicare. The ten standardized supplement plans you can choose from are Plan A, B, C, D, F, G, K, L, M, and N.

Medicare Supplement Plans Comparison Video and Chart

Check out this video where we explain the ten Medicare Supplement plans and review a comparison chart, then continue reading as we go into further detail with everything you need to know about supplement plans:

Why do I need a Medicare Supplement Plan?

When you turn 65, you will need to choose whether to stick with Original Medicare, which is Part A and Part B, or switch to Medicare Advantage. The difference between the two is Original Medicare gives you more flexibility and freedom to choose whatever doctor or hospital you would like to use. Medicare Advantage plans are more for a Health Maintenance Organization (HMO) type of environment where you will have a lower cost to pay for your premium but will pay a higher amount for out-of-pocket expenses. You will also be limited to a specific network that will not allow you to use any doctor or hospital outside of that network.

By choosing to stick with Original Medicare, you need to understand that there will be certain costs that it does not cover. That’s where Medicare Supplement plans come in. Medicare Supplement plans will help cover remaining costs like copayments, coinsurance, or deductibles. However, it generally will not cover long-term care, vision, dental, hearing aids, or private-duty nursing.

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Buying a Medicare Supplement Plan

When comparing Medicare Supplement plans, think about your current and future health. This will help give you and us the right idea for finding a Medicare Supplement plan that works the best.

If you want to switch to a different Medicare Supplement plan rather than buy your very first one, don’t cancel the current plan you have now. You will be given 30 days to test out the new plan while still keeping your current plan. You will also be paying both premiums for both plans. You will have those 30 days to ultimately decide to cancel your current plan and switch to the new Medicare Supplement plan, or keep your current plan and cancel the new one. If you choose to cancel your current plan, you will not be able to get it back in the future.

When you reach out to us, we will consider which benefits you want and which plan will meet your needs the most. We can give you a personalized instant Medicare Supplement Insurance quote that helps make the decision to choose a plan much simpler for you. Not only will we explain Medical Supplement plan options and give you a quote, but we will also help you through the process of Medicare Supplement enrollment.

The Top Medicare Supplement Plans in 2021

While each persons’ needs may differ, there are a few top Medicare Supplement plans to consider in 2021. They include:

Medigap Plan F

As one of the most comprehensive Medicare Supplement plans, Plan F can help to cover both Medicare deductibles as well as copays and coinsurance fees. Medicare Plan F is popular because it can cover all the gaps that exist in Original Medicare Parts A & B. Not only does it pay your hospital deductible, but it also can contribute the 20% that Medicare Part B doesn’t cover. All is this adds up to virtually no out-of-pocket expenses when it comes to visiting your doctor’s office.

Medigap Plan G

With Medicare Plan G, you get covered for all the gaps in Medicare, not including the Medicare Part B deductible. While Medicare Plan G coverage is quite similar to Medicare Part F coverage, Part G also includes foreign travel emergency coverage. It also helps to pay for inpatient costs like hospice care, skilled nursing, and blood transfusions, as well as outpatient services such as lab work, doctor visits, and more.

Medigap Plan N

Another option, Medicare Plan N, was introduced in 2010. It provides enrollees with the dual benefits of affordable premiums and potential out-of-pocket expenses. Medicare Plan N offers similar coverage as Plan F, except it doesn’t provide coverage for Part B deductibles or excess charges. Additionally, you could incur a copay of $20 for doctor visits and $50 for certain hospital visits.

Medigap Plan GHD

Known as Plan G High Deductible (Plan GHD), this plan provides similar coverage and benefits to the standard Plan G; the only difference is it’s accompanied by higher deductibles (hence the name) that you are required to meet with out-of-pocket costs. In 2021, Plan G carries an annual deductible of $2,370.

Sign Up for a Medicare Supplement Plan Online

At Medicare On Video, we understand the importance of securing your healthcare before transitioning into your golden years. It’s essential to learn everything you can about and compare Medicare Supplement plans before deciding what’s best for you. Your senior years should be spent relaxing and spending time with family, friends, and loved ones — not worrying about unexpected medical costs.

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