We all want the best! Especially when it comes to something as important as our health insurance.
To get the Best Medicare supplement plans you must understand what each plan contains, so you can choose the proper coverage.
I promise that when you finish reading about the best Medicare supplement plans available, you will have a strong understanding of what they cover and what they do not cover.
I have broken down all ten of the Medicare supplemental plans into easy to understand sections which include specific supplement plan coverage’s.
How Do Medicare And Medicare Supplement Insurance Work Together?
Medicare Supplement Plans, also referred to as Medigap plans, fill in the cost gaps of coverage between your Medicare part A and part B health insurance.
Traditional Medicare part A will cover a portion of your hospital visits and part B will cover a portion of your doctor’s visits.
However, Medicare does not pay the entire amount.
The best Medicare supplement plans are not like traditional health insurance that typically covers any health-related costs.
The supplement plans work in tandem with your Medicare part A & B and only cover the costs that your Medicare insurance does not cover.
This includes the costs for Medicare deductibles, co-payments, hospital and skilled nursing facility costs, doctor excess costs, and health care outside of the US.
All of these commonly used health benefits may be covered depending on the supplement insurance plan you choose.
Medicare Supplement Plans Pay What Medicare Does Not
When you go to a doctor, Medicare usually pays 80% of the Doctor’s visit with the patient being responsible for the other 20%.
However, if you have a Supplement plan, the plan may pay all of the 20% of your doctor’s bill Medicare doesn’t pay or even reduce the amount to a specified set copay.
Under the present Medicare system, in some instances, Doctors can charge 15% excess costs beyond the Medicare allowed amount.
Some of the best Medicare supplement plans reviewed below will cover the Doctor’s excess charges, be sure to keep in mind those plans that do cover excess charges and those that do not.
If you choose a plan that does not cover doctors’ allowable excess charges you will have to pay those charges out of your own pocket.
The Best Medicare Supplement Plans Reviewed
There are ten Medicare supplement plans to choose from, Plans; A, B, C, D, F, G, K, L, M, & N.
Each of these plans has pros and cons and knowing what they do and do not cover, will help you to find the best Medicare supplement plans for you.
You can review a Medicare supplement plans A – F chart that places all the plans side by side for easy comparison and a Medicare supplement plans G-N chart by clicking on either of the underlined links.
Medicare Supplement Plan A
Plan A is a good plan for people who want more coverage for hospital related services than Medicare part A provides.
The Medicare supplement plan A will cover your coinsurance when you are hospitalized along with an additional 365 days of hospitalization beyond your Medicare part A coverage.
When you visit the doctor, Medicare part B will pay up to 80% of Medicare allowed charges and this plan will pay your coinsurance.
But, Medicare allows your doctor in some instances to charge up to 15% in excess charges.
This plan does not cover doctor allowed excess charges, you will be responsible to pay for them out of your pocket.
Plan A will cover your coinsurance if you have outpatient services at a hospital.
In addition, Plan A provides up to 3 pints of blood per year along with covering the Medicare Part A coinsurance for hospice care.
If you choose this plan, you will be responsible for paying both your Medicare Part A & B deductibles.
Medicare Supplement Plan B
Medicare Supplement Plan B will pay your Medicare Part A coinsurance along with providing an additional 365 days of hospitalization coverage after your Part A runs out.
This plan also will pay your Part B coinsurance when you visit the doctor or use hospital outpatient services.
This plan, just like Plan A, will not pay doctor allowed excess charges.
You will be responsible for paying any excess charges allowed.
The plan B will pay the coinsurance for hospice care and will also pay your Medicare Part A deductible.
With this plan you will still be responsible for paying your Medicare Part B deductible, but the plan will pay your Part A deductible.
Medicare Supplement Plan C
Supplement Plan C offers everything that Plans A & B cover.
It also includes coinsurance for skilled nursing facility care and up to 80% coverage of medical emergency help when traveling abroad (subject to plan limits).
Keep in mind, just like Plan A and B, this plan does not include coverage for doctor’s excess charges.
You will be responsible for these charges out of your own pocket.
If you purchase Medicare supplement Plan C, you will not have to pay Medicare Part A & B deductibles as this plan includes payment of both of your Medicare premiums.
Medicare Supplement Plan D
The Medicare supplement Plan D is identical to Plan C, except, the plan does not pay your Medicare part B deductible.
You are responsible for paying your Medicare part B deductible, while this plan includes in its premium payment for your Medicare part A.
Medicare Supplement Plan F
Medicare supplement plan F offers very comprehensive coverage.
The plan includes all the coverages in supplement plans A, B and C, including skilled nursing facility care, emergency medical coverage when you travel outside the US and it pays your Medicare part A & B deductibles.
This plan will also cover the costs, commonly referred to as, excess costs, that can be up to 15% more than Medicare approved charges for your doctor‘s visit.
This is often one of the best Medicare supplement plans to choose.
Medicare Supplement Plan F – With A High Deductible
There is also a high deductible Medicare supplement plan F that requires you to pay $2,240 (in 2018) of for a deductible before the plan will pay for your medical.
The deductible does go up each year, but the premium is much lower because you must pay an annual deductible before the plan kicks in.
Medicare Supplement Plan G
The Medicare supplement plan G offers all of the same coverages found in supplement plans A, B, C and F, with the exception, that it does not pay the Medicare part B deductible.
Due to the Federal government passing a law effective, January 1st, 2020, doing away with plans that pay the Medicare part B deductible, the plan G is fast becoming one the best Medicare supplement plans available.
I think everyone’s situation is different. Speaking in general I’m a big proponent of Plan G, and I often recommend that, however I don’t necessarily always recommend that to everyone. My advice to clients is always to take a look at their own situation and make sound decisions based on that.
Medicare Supplement Plan K
Plan K premiums tend to be a bit lower, as this plan covers about 50% of the costs that Medicare part A & B do not pay.
The policy comes with a cap on out of pocket expenses that can go up each year.
Once you reach this cap, the plan will pay for 100% of Medicare approved costs for the calendar year.
Plan K will not pay for doctors’ excess costs that can be up to 15% over the Medicare approved costs.
The plan will cover 100% of your Medicare Part A coinsurance and 50% of your Medicare Part B coinsurance except preventative care services which it covers 100%, until you reach the cap on out of pocket expenses.
It provides coverages of 50% of coinsurance for hospice, three pints of blood, and skilled nursing facilities.
The plan also pays 50% of your Medicare part A deductible, so you will be responsible for paying all of your Medicare part B deductible and 50% of your Medicare Part A deductible if you choose this plan.
Medicare Supplement Plan L
Medicare supplement plan L is very similar to plan K with the exception that this plan pays 75% of your coinsurance and offers an annual lower cap you must pay out of pocket before your plan starts covering what Medicare part A and B do not.
Of course, the premiums are slightly higher then plan K because the plan pays 75% of your coinsurance and you have a lower out of pocket cap.
Medicare Supplement Plan M
Medicare supplement plan M provides 100% coinsurance for Medicare part A and B but does not cover part B excess costs for doctors’ visits above Medicare approved costs.
The plan also covers 100% of your coinsurance for up to 365 days of hospitalization once Medicare benefits are exhausted.
Included in plan M are100% of your coinsurance for up to 3 pints of blood a year, hospice care and skilled nursing facilities.
It also provides for foreign travel emergency costs up to 80% of approved costs (subject to plan limits).
The Plan M premium will pay for 50% of your Medicare Part A deductible but you will be responsible for paying your Medicare Part B deductible.
Medicare Supplement Plan N
Medicare supplement plan N offers comprehensive coverage but lowers some of the premium cost by requiring you to pay $20 copayments for doctors’ visits and $50 copayments for emergency room visits that don’t result in hospitalization.
Just like plan M, this plan does not cover doctors’ excess charges and you will be responsible for those additional fees.
The plan includes 100% coinsurance for Medicare part A, including coverage for 365 days of hospitalization after Medicare benefits are exhausted, hospice care, 3 pints of blood a year, and skilled nursing facility care.
It will also cover foreign travel emergency costs up to 80% of approved costs (subject to plan limits).
Plan N is one of the best Medicare supplement plans because it is very similar to traditional health insurance HMO’s and PPO’s that most people are used to.
The plan will also pay your Medicare part A premium, but you will be responsible for paying your Part B premium.
Choose The Best Medicare Supplement Plans!
Please familiarize yourself with the information on the best Medicare Supplement Plans that Senior Benefit Services has to offer.
We encourage you to check out our definitive guide on Medicare supplement plans to get a complete understanding of supplement insurance.
Most of our customers have multiple questions to help choose the best Medicare supplement health insurance plan.
Senior Benefit Services is here to help answer all of your questions and help you choose the best Medigap plan for you.
At any time, please feel free to call us at 1-800-924-4727 to speak to an experienced Medicare Supplement Plan agent today.