You should compare medicare supplement plans before making a selection. Medicare supplement plans, also called Medigap, work like a traditional insurance and cover some of your medical cost sharing left over by your Medicare. It can be purchased from a private insurance company, which is authorized by the government; thus, you pay the premiums and receive the benefits separately from your Medicare.

Medicare supplement plans are available for those who are 65 years old and above. However, there are special medical cases where you can buy a Medigap insurance policy even if you are below 65. These provisions vary from state to state in line with the laws of that certain state or region.

If you are thinking of purchasing a Medigap insurance policy but don’t know where to start, how much premiums you’re going to pay, or what requirements are needed, here are some information to help you compare different plans and policies.

What are the Different Medicare Supplement Plans?

Before comparing Medicare supplement plans, you have to understand that all Medigap policies are standardized. This means that they have to adhere to the laws set by the state or federal government. However, if you live in Minnesota, Massachusetts, and Wisconsin, the Medigap policies are differently standardized.

Although the policies are standardized, the premiums of these different plans vary between providers. Moreover, each insurer also decides which Medigap policy they want to offer. If an insurer is offering a Medigap policy, you have to remember that they need to offer Medigap Plan A to go with the policy. And if they offer a plan, they also need to have Plan C or Plan F.

There are currently 10 Medicare supplement plans you can compare. They are Plan A to Plan D, Plans F, G, K, L, M, and N. These plans are similar with each other except for a few differences.

Facts to Help You When Comparing Medicare Supplement Plans

  • All plans are eligible for Part A coinsurance and hospital costs up to an additional 365 days until you used up all your Medicare benefits.
  • All plans, except Plan K and Plan L, are 100% eligible for Part B coinsurance or co-payment scheme. Plan K is only 50% eligible, while Plan L is 75%. Also, although Plan N is 100% eligible for coinsurance, its co-payment is limited to $20 for office visits and $50 for emergency visits without inpatient admission.
  • Only Plans B, C, F, G, and N are eligible for Part A deductibles. Plans K and L are only 50% and 75% eligible respectively.
  • Only Plan C and Plan F are eligible for Part B deductibles.

How to Get the Different Medicare Supplement Plans?

If comparing Medicare supplement plans still leaves you a little confused, there are many places where you can get the information you need.

You can ask the help of a qualified and certified insurance broker who specializes in Medicare. An experienced and reputable insurance broker will help you strategize and look for the best plan that will suit your needs and budget. Medicare Pathways specializes in Medicare Supplements and can help you compare and enroll in a plan.  Click here to request a quote or call 1-866-466-9118 to speak with a Benefit Advisor.  If you are 65 or near retirement age, you should consider getting a Medicare supplement plan. It will give you a lot of advantage and choice when it’s time to use it.


Medicare Pathways