Medicare supplement plans are often misunderstood and many people sign up with a company and it costs them hundreds more a year than they need.
Luckily, we will show you the cheapest Medicare supplement plans for 2023 & beyond.
This article will show you where and how to find the cheapest Medicare supplement plans.
Table Of Contents
- Medicare Supplement Plan Coverage
- What Is The Least Expensive Medicare Plan?
- Who Has The Cheapest Medicare?
- Can I Change Medicare Supplement Plans Anytime?
- How To Find The Cheapest Medicare Supplement Plans
Medicare Supplement Plan Coverage
If you didn’t know already, there are many different Medicare supplement plans and they all cover different gaps in Medicare.
Below is a handy chart showing what each plan covers.
Plans F, G, & N are the most popular plans today.
What Is The Least Expensive Medicare Plan?
Plans K, L, & M, in that order, are usually the cheapest Medicare supplement plans in your area but there are very few companies that offer them.
In fact, it is difficult for most Americans to get approved for these plans most of the time.
These plans come with complex cost-sharing mechanisms. In the chart above, you will see that these plans only cover a percentage of your Medicare, and you must pay the rest.
This ends up being very confusing for most people, and the complaints are high on these plans.
After that, Plan N becomes the most affordable and cheapest Medicare supplement plan. Plan N will cover the most expensive gaps in Medicare like hospital visits, but does not cover your Part B deductible or excess charges.
Plan N is the cheapest Medicare supplement plan for people who want to save money but still have decent coverage, and is also why it is one of the most popular.
You can compare rates among 15+ of the top-rated Medicare supplement companies by filling out our quoter.
Who Has The Cheapest Medicare?
The company that has the cheapest Medicare will depend on your area and what plan you are getting. However, for those sticking with Plans A, F, G, & N, Prosperity has the absolute lowest rates available from what we’ve seen.
The only downside to Prosperity is that they do not offer coverage in every state.
If you don’t have Prosperity in your state, odds are Aetna will have the cheapest Medicare for you.
There are plenty of Medicare supplement companies out there. You will lose hundreds of dollars a year if you do not shop the market for the cheapest Medicare supplement policy.
Can I Change Medicare Supplement Plans Anytime?
You can absolutely change Medicare supplement plans anytime. There is no designated enrollment period like Medicare Advantage.
However, you should know that you will be subject to medical underwriting. While this is no problem for most people, if you have serious health conditions some carriers may deny you.
It’s important to speak with a Medicare broker like us at Seniors Mutual before pulling the trigger on switching a plan.
Don’t worry, we help people leave their old overpriced plans every day!
How To Find The Cheapest Medicare Supplement Plans
The only way to find the cheapest Medicare supplement plan is to work with an independent brokerage like Seniors Mutual.
Even then, there are many Medicare agencies out there that do not work with the cheapest Medicare supplement companies and will still offer you the overpriced companies.
We at Seniors Mutual are experts in helping people save hundreds or even thousands a year on their Medicare supplement insurance.
Best of all, our services are FREE!
You pay nothing extra to work with us, and never will.
If you want to find the cheapest Medicare supplement insurance let us help you and fill out the quoter here on our website to compare 15+ of the top-rated companies now.
We look forward to speaking with you.