Featured Article

plans


Many seniors and individuals with disabilities rely on Medicare as their main source of healthcare coverage. However, even with Medicare, there are often gaps in coverage that can leave individuals with significant out-of-pocket expenses. That’s where Medicare supplement plans, also known as Medigap plans, come in. These plans are designed to fill in the gaps left by Medicare and provide additional coverage for medical expenses. Here are five of the best Medicare supplement plans and the positive benefits they offer.

1. Plan F
Plan F is considered to be the most comprehensive Medicare supplement plan. It covers all deductibles, coinsurance, and copayments left by Medicare. This means that individuals with this plan have very little, if any, out-of-pocket costs for their healthcare expenses. This can provide peace of mind and financial stability for seniors and individuals with disabilities who may already be on a fixed income. In addition, Plan F also covers 80% of foreign travel emergency healthcare costs, which can be beneficial for those who frequently travel internationally.

2. Plan G
Although Plan G does not cover Part B deductibles, it has become increasingly popular because it offers almost the same coverage as Plan F at a lower cost. This plan covers all of the same benefits as Plan F except for the Part B deductible, which is only $198 for 2020. This lower monthly premium can save individuals money in the long run while still providing comprehensive coverage for their medical expenses.

3. Plan N
Plan N is another affordable option that offers a good balance of coverage and cost. It covers all of the same benefits as Plan G except for excess charges from doctors who do not accept the Medicare-approved amount for a particular service. This plan also requires a small copayment for doctor visits and emergency room visits, but these copayments are capped at $20 and $50, respectively. Plan N may be a good option for those who are generally healthy and do not anticipate needing many additional medical services.

4. Plan C
Similar to Plan F, Plan C covers all gaps in Medicare coverage including Part B deductibles, excess charges, and foreign travel emergencies. However, Plan C will no longer be available to newly-eligible Medicare beneficiaries starting in 2020. Current Medicare beneficiaries who have Plan C can keep it, but new enrollees will not be able to sign up for this plan. Despite this change, Plan C will remain a popular option for those already enrolled in it due to its comprehensive coverage.

5. Plan D
Plan D offers similar coverage to Plan G, but it does not cover the Part B deductible. Instead, it offers a lower cost alternative for those who do not need as much coverage. This plan also does not cover excess charges, but as mentioned before, this may not be a concern for individuals who are enrolled in Medicare Advantage plans.

In addition to the specific coverage and cost benefits offered by these Medicare supplement plans, there are also some general advantages to having one. For example, these plans allow individuals to choose their own doctors and hospitals, whereas Medicare Advantage plans often have a network of healthcare providers. Moreover, Medicare supplement plans are standardized and regulated by the government, so individuals can feel confident in the coverage they are receiving.

In conclusion, Medicare supplement plans can provide a range of positive benefits for seniors and individuals with disabilities. From comprehensive coverage with minimal out-of-pocket costs to more affordable options for those who need less coverage, these plans offer a variety of options to fit different needs and budgets. It’s important for individuals to carefully consider their healthcare needs and shop around for the best plan for them. With the right Medicare supplement plan, individuals can have peace of mind knowing that they are covered for any unexpected medical expenses.