Underwriting is the process assessing risk of issuing insurance. Undewriters evaluate applications,
Medicare Supplement plans, also known as Medigap plans, protect you from the gaps in your Medicare coverage. You may already know that Medicare Part A and Part B pay 80% of qualified medical bills, after deductibles and copays. A Medicare Supplement plan covers those leftover costs, and can be the difference that allows you to afford quality healthcare. Unlike Advantage plans, Medigap plans do not replace your Original Medicare.
Medicare Supplement Plans Comparison Chart
Medicare Supplement plans are standardized, and categorized by letters A-N. Every letter represents a different level of coverage. The Medicare Supplement comparison chart below details what costs each plan covers.
Once you choose the plan letter you like, every carrier will offer you the same benefits, coverage, and claims-paying process. The only thing that the providers can determine is how much to charge you, and in some cases, whether or not to accept your application. It’s imperative to work with an expert that represents a variety of trusted carriers to ensure that your application is accepted, and to avoid getting over-charged.
What Is the Best Medicare Supplement Plan?
The best Medicare Supplement plan for you will vary based on your needs. For instance, if you do not visit the doctor often, you may be able to save money by selecting a plan that does not cover copays. There are 10 plans available, but we find that our clients tend to favor 3 plans in particular.
For most of our clients, the best Medicare Supplement plans are:
Other Medigap plans are:
*Medicare Supplement Plan F and C is not available to anyone that becomes eligible for Medicare after December 31st, 2019. Instead, the plan that will offer you the highest level of coverage is Medicare Supplement Plan G. As you can see in the chart above, Plan G is very similar to Plan F. The only difference is that with the Plan G you are responsible for your Part B deductible. If you are not eligible for Plan F, you should consider Plan G or Plan N.
How Much Do Medicare Supplements Cost?
Medicare Supplement costs, or premiums, depend on a variety of factors. Your age, zip code, and tobacco-use status, as well as carrier-specific discounts can impact what you pay for your insurance. Carriers will also charge a different premium for each plan letter; however, a lower-coverage plan may not necessarily be less expensive.
What Carriers Offer Medicare Supplement Plans?
To give our clients the best experience, we represent over 30 companies. There is no change in cost whether you go directly through the carrier, or work with us. Thousands of seniors trust us to help them compare rates from multiple companies, and to take the hassle out of shopping. A few of the carriers we represent include:
- Blue Cross Blue Shield companies, as an authorized agent
- Mutual of Omaha
- United Healthcare, AARP’s endorsed Medicare Supplement plan provider
We Can Help
Whether you are about to start Medicare, or have been on it a while but are reevaluating your coverage options, it’s helpful to work with an expert. Our agents are licensed to assist you in finding the quality coverage that works for you. We are there to help you through the application process, and for every year after. There are never any costs for working with GoMedigap, so give us a call today at 866-894-3258.