Medicare Supplement Quotes

The Best Way to Choose a Medicare Supplement Plan for You

Written by Evens Stevenson

If you’re about to enroll in Medicare, you will realize that even though there are many types of health care that are covered through this program, but there are areas which aren’t covered that call for out-of-pocket payments from the Medicare enrollee. Oftentimes, these expenses can really add up – and they can be especially cumbersome for those who are living on a fixed retirement income.

The costs of health care are getting to get higher and higher every year. There are countless Medicare enrollees that have had a large portion of their retirement savings drained because of medical bills. While there is nothing you can do about the costs of your care, there are ways to offset those bills.Choosing a medicare plan

There is a way to help in curbing these costs, though. One of the easiest ways is to buy a Medigap policy. If you are interested in getting a Medicare supplemental quote, we can certainly help.

Today, there are 10 different standardized Medicare Supplement Insurance plans.

They are named by a letter of the alphabet, from A to N. Each one has different amounts of protection. A is the smallest, F is the largest.

Narrowing Down Your Options

While having so many plan choices for Medicare Supplement Insurance coverage is nice, it can also tend to seem overwhelming in terms of deciding which of the plans may be right for you and your specific needs. With that in mind, you need to know what each of the plans offers, and then to match up the plan’s coverage options with your potential benefit needs both now and in the future.

As the most basic of the Medicare Supplement Insurance plans, Medigap Plan A provides the following benefit options (in 2016):

  • Medicare Part A hospitalization coinsurance coverage, plus 365 additional days after Medicare’s benefits end
  • Medicare Part B doctors’ services coinsurance, which is typically 20 percent of Medicare approved expenses, or copayments for hospital outpatient services
  • The first three pints of blood each year
  • Medicare Part A coinsurance amount

The chart below provides information regarding the benefits that are provided by all of the Medigap plans:

Medicare Supplement Chart

Source: Medicare and You (

Medicare Supplement Insurance plans F and G provide the most comprehensive coverage offerings. The benefit options that are offered in Plan G include:

  • Medicare’s Part A hospital coinsurance, as well as all costs up to 365 days after the Original Medicare benefits have been exhausted
  • Medicare Part A hospice care coinsurance or copayment
  • Medicare Part A deductible
  • Medicare Part B preventive care coinsurance coverage
  • Medicare Part B coinsurance or copayment coverage
  • Medicare Part B excess charges
  • The first three pints of blood for a medical procedure each year
  • Skilled nursing facility care coinsurance coverage
  • Foreign travel emergency coverage

Plan F offers the following list of benefits to its policy holders:

  • Medicare Part A deductible
  • Medicare Part B deductible
  • Medicare Part B excess charges
  • Preventative care Medicare Part B coinsurance
  • Medicare Part A hospital and coinsurance costs up to an additional 365 days after Medicare benefits have been exhausted
  • Medicare Part B coinsurance or copayment
  • The first three pints of blood that are used in an approved medical procedure per year
  • Medicare Part A hospice care copayment or coinsurance
  • Skilled nursing facility coinsurance
  • Foreign travel emergency coverage

Although Medicare Plan F will typically have a higher premium due to the more comprehensive benefits, this particular Medigap plan also has a high deductible plan option. This Plan F option requires that a deductible be paid before any of the plan’s benefits will be paid out. Because of this, the premium on that particular Medicare Plan F option will generally be lower.

Choosing and Buying the Right Plan

After reviewing all of the Medicare Supplement Insurance plan options, you should also review the financial strength of the insurance company that is backing the policy, as well as compare the premium that is being charged.

When you’re looking for the perfect Medigap policy, there are a couple of factors you need to consider. You need to review your finances, health, future, and much more. It can be an overwhelming process to pick the perfect plan.

Although it is required by law that each Medicare Supplement Insurance plan of the same letter has to give the same coverage,  the premiums can be very different. Therefore, the premium that is charged by one insurer for Medicare Supplement Plan A, for example, can differ a great deal from another insurance carrier that is also offering Medigap Plan A. With that in mind, it is important to compare policies, insurers, and premiums prior to making your final Medigap plan purchase.

Medigap Open Enrollment Period

One of the best things to take note of is open enrollment date. This is a 6 month opportunity to apply for Medigap coverage without having to go through the medical underwriting part of the application.

If you apply during open enrollment, the insurance company can’t reject your application. They will accept your application and they can’t charge you more for protection. This is the best time to apply for supplemental insurance.

If you want to get the best Medigap plan out there, then you should let us do all of the work for you. If you’re ready to get supplemental insurance, contact us today. Our agents would be happy to walk you through the process and give you the best healthcare insurance possible.

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