Medicare Supplement Insurance

Medigap insurance is provided by private health insurance companies, but it is regulated by the government. In sum, Medicare Supplement Insurance covers expenses Medicare doesn’t.

What does this mean for you?

Every Medicare Supplement insurance plan is standardized. Each insurer must offer identical coverage for the same plan.

These supplemental plans are organized by letters A through N.

Here’s a quick look at the coverage provided by these plans.

Medigap Benefits
Medigap Plans
A B C D F* G K L M N
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Part B coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes***
Blood (first 3 pints) Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Part A hospice care coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Skilled nursing facility care coinsurance No No Yes Yes Yes Yes 50% 75% Yes Yes
Part A deductible No Yes Yes Yes Yes Yes 50% 75% 50% Yes
Part B deductible No No Yes No Yes No No No No No
Part B excess charges No No No No Yes Yes No No No No
Foreign travel exchange (up to plan limits) No No 80% 80% 80% 80% No No 80% 80%
Out-of-pocket limit** N/A N/A N/A N/A N/A N/A $5,560 $2,780 N/A N/A

We represent over 25 different Medicare Supplement insurance carriers, which allows us to price shop for you. Since every plan is standardized, the company you choose doesn’t change your coverage.

Let’s compare prices and find the most affordable option for you.

Medicare Supplement/Medigap FAQs

Q If each Medicare Supplement offers the same coverage, why are the premiums different between companies?

A Each company has their own set of health questions. Each company thinks that if you can pass their questions, you won’t have as many claims, which means you won’t cost them as much money. Therefore, they’re willing to offer you the same plan for a better price. Other factors that go into pricing include how many claims that company is facing, your age, regular inflation, the general cost of healthcare, and admin costs.

Q Do Medicare Supplements have networks I need to worry about?

A No! Medicare Supplement Insurance is accepted everywhere. There are no networks to worry about, unlike Medicare Advantage.

Q Is it possible to have a Medigap plan that truly covers everything, including co-pays and deductibles?

A Yes. Plan F is the supplement that offers complete coverage. You will never have a bill as long as you’re on this particular plan.

Q Is Plan F going away?

A For new Medicare enrollees, yes. While newly eligible individuals can’t purchase Plan F starting in 2020, anyone who was eligible before that date can still purchase a Plan F. This means that if you turn 65 before January 1, 2020, you’re able to purchase a Plan F. However, if you turn 65 after January 1, 2020, you cannot. You can read more about this here: Is Medigap Plan F Going Away?

Q Which Medigap plan is the best value for the money?

A We generally recommend Plan G as the best value. It offers complete coverage except for the Medicare Part B deductible, which is $198. The Plan G is often much cheaper than a Plan F, so the savings most often offsets the cost of the deductible.

Q When can I buy a Medigap policy?

A You can purchase a supplemental policy during the open enrollment period. This occurs the month you turn 65 and lasts for the next 6 months. Note that you must already be enrolled in Medicare Part B to buy a Medicare Supplement policy. (Ex: You turn 65 in January and enroll in Medicare Part B. You can from January to June to purchase a Medigap policy.)

Q What happens if I miss open enrollment and want to buy a Medigap policy?

A You must meet the medical underwriting requirements in order to be approved. If you have a health condition that disqualifies you, you will be declined.

Q I’m under 65 and am on Medicare due to a disability. Can I buy a Medigap policy?

A Federal law doesn’t require the insurance carriers to sell Medigap policies to anyone under 65, regardless of the situation. However, 29 states require insurance companies to offer at least one type of Medigap policy in these situations.

Q I’m still on my employer’s insurance. What should I do?

A Your Medigap open enrollment period will begin when you sign up for Medicare Part B, even if you’re past the age of 65. During that open enrollment period, you are free to choose a Medigap policy.

Q Should I ever switch Medigap policies?

A We recommend taking a look at your Medigap policy each year to make sure you’re still getting the best price. Remember that insurance companies offer the same exact coverage, but the price often differs. Your agent will run quotes on your behalf to see if switching makes sense. Note that if your health disqualifies you from passing medical underwriting, you will not be able to switch.