The best Medicare supplement plans provide coverage of health services that standard Medicare doesn’t fund or only partially covers. It is supplied by commercial insurers rather than the government. You’ll need to choose a specific plan when signing up for supplemental coverage. Unless you live in Wisconsin, Minnesota or Massachusetts, you will have 10 standard policies to consider.
Best Medicare Supplement Plans
This option provides the fewest benefits. Consequently, it usually costs less than the alternatives. In addition to long-term hospital stays, Medigap A covers blood transfusions as well as coinsurance on Parts A and B. It doesn’t pay for deductibles or non-U.S. medical treatments.
This Medicare supplemental policy resembles Medigap A in most ways. However, it funds the deductible on Medicare Part A hospital services. This is a highly beneficial feature because the hospitalization deductible may apply more than once per year under some circumstances. Medigap B normally has higher premiums than A.
This option delivers significantly better coverage. In addition to the benefits of Medigap B, it funds emergency overseas health treatments and the co-pays on temporary nursing care. Furthermore, it covers the deductible that applies to Medicare Part B services.
- Nursing coinsurance
- Part A and B deductibles
- Foreign medical care
This supplemental policy has the features of Medigap A as well as several additional benefits. It pays the deductible on Medicare Part A, covers essential foreign medical treatments and funds short-term nursing co-pays. Like plans C, F and N, it pays 80 percent of overseas health expenses.
This option improves upon Medigap C by adding full coverage for excess Part B costs that Medicare refuses to pay. You can choose between the standard and high-deductible variations on Medigap Plan F. The higher deductible lowers premiums but greatly increases the cost threshold for coverage.
This Medicare supplemental policy is equivalent to Medigap F in many ways and also resembles C. However, it doesn’t cover the deductible on Part B health care. Although this increases out-of-pocket expenses, it helps make this policy a comparatively economical choice.
This option has the features of Medigap A plus a limit on out-of-pocket spending and partial coverage of various services. It pays half of the nursing coinsurance, Part A deductible, blood transfusion deductible and Part B co-pays. This policy fully covers preventive health care.
- Has a high out-of-pocket limit
- Pays for 50 percent of most services
- No overseas medical coverage
Like Medigap K, this option caps out-of-pocket expenses. It has a significantly lower limit than K. This policy also offers better blood transfusion and hospice coverage. The insurer funds three-quarters of Part B co-pays and temporary nursing services. It doesn’t pay any Part B excess charges.
This relatively inexpensive Medicare supplemental policy has the same features as Medigap A as well as one additional benefit. It pays half of the deductible on hospital services covered under Medicare Part A. This option didn’t become available to policyholders until 2010. It doesn’t cover foreign treatments or have an out-of-pocket cap.
Another comparatively new option, Medigap N is fairly comprehensive and resembles Medigap D. It funds non-U.S. medical care, extended hospital stays, Part A deductibles, hospice co-pays, nursing coinsurance and Part B co-pays. However, patients often need to pay an extra $50 for emergency room visits and $20 for medical appointments.
Standardized plans make it easier to compare medicare supplement plans that different insurers offer. Nonetheless, it can be confusing to decipher the meanings of certain features, assess the actual value of each benefit and choose the most appropriate policy. Always feel free to contact our staff of Medicare experts for further guidance with regard to supplemental coverage.