Medicare supplements provide the payment for all the gaps in Medicare, such as coinsurance, copayments, and deductibles.
There are 10 Medicare supplements lettered A-N and they all cover different gaps in Medicare.
This article will give a brief summary of each plan.
If you want to compare quotes among 15+ of the top Medicare supplements companies fill out our quoter to see free rates instantly.
Table Of Contents
- What Do Medicare Supplements Cover?
- What Is The Best Medicare Supplement Plan?
- Plan A
- Plan B
- Plan C
- Plan D
- Plan G
- Plan F
- Plan K
- Plan L
- Plan M
- Plan N
- Medicare Supplement Rates
What Do Medicare Supplements Cover?
Contrary to popular belief, Medicare does not cover all healthcare expenses, only about 80%. This can get very expensive especially if you have to go to the hospital for multiple days or need serious medical treatment like chemotherapy.
Enter Medicare supplements.
Medicare supplements are private insurance that cover the gaps in Medicare to varying degrees and come in a variety of monthly premiums.
Medicare will pay its part and whatever your Medicare supplement plan covers it will pay the rest.
What Is The Best Medicare Supplement Plan?
While there is no “best” Medicare supplement plan, they do all come with varying levels of coverage and price. However, in 2022, over 80% of all plans bought were Plan F, G, or N. Rest assured one of these three will be a great option for you.
The best Medicare supplement plan for you will depend on your area, health, and risk tolerance (how much you want to be covered).
We can help you decide which plan is best for you and give you the lowest pricing for each plan among 15+ different companies.
Medicare Supplement Plan Options
There are a total of 10 different Medicare supplement plans. Here is a breakdown of them all.
Plan A is the most basic of all Medicare plans and generally the cheapest. You will be on the hook for any skilled nursing facilities, Part A & B deductibles, and foreign travel medical emergencies.
Plan B is the next most basic Medicare plan with the only difference from Plan A being Plan B covers your Part A (Hospital) deductible.
Plan C is only available to people who were eligible for Medicare before January 1, 2020, not new enrollees.
Plan C is one of the most comprehensive plans for eligible people. It covers every single gap in Medicare except for your Part B excess charges. Part B excess charges are the excess charges some doctors charge over what Medicare pays. This happens more frequently than you may think.
Plan D is very similar to Plan C in that it covers everything except the Part B excess charges and Part B deductible (Doctors).
The most comprehensive plan on the market (and most expensive), Plan F is only available to people who were eligible for Medicare before January 1, 2020, just like Plan C.
However, if you were eligible before then this plan may be for you as it covers 100% of the gaps in Medicare and will leave you with no bills whatsoever for medical care.
Plan G is the most popular plan for new enrollees to Medicare as it is the most comprehensive after Plan F. All you will ever have to pay with Medicare Plan G is your Part B deductible (Doctor).
Plan K is a niche plan that is a type of high-deductible plan that only covers a percentage of the Medicare gap. It does come with an out-of-pocket limit, however.
Plan L is another type of high-deductible plan rarely requested by Medicare beneficiaries. The percentage it covers is higher than Plan K and lower out-of-pocket limit but is more expensive.
Plan M is similar to Plan G but does not cover all of your Plan A deductible or Part B excess charges. Another rarely request plan by Medicare beneficiaries.
Plan N is the most popular plan for Medicare beneficiaries who want to save some money on their Medicare supplement plan. The only difference between it and Plan G is that it does not cover Part B excess charges. It is more affordable than Plan G, however.
Medicare Supplement Comparison Rates
All Medicare supplement plans come with different monthly premiums. You can compare 15+ different insurance companies instantly for free by filling out our quoter.
Keep in mind Medicare supplement rates are not locked in for life like other types of insurance.
Every Medicare supplement plan raises rates every year, albeit at a small amount.
This means you should take into account the past history or rate increases so you’re not getting into a plan that will inflate in monthly premium too much.
Seniors Mutual has access to all of the top Medicare insurance companies to find the best rate for you.
We hope this article was useful to you and look forward to helping you save hundreds on your Medicare insurance.
If you have any questions or comments leave one below or contact us.
We look forward to hearing from you.