What are Medicare Supplements?

Medicare Supplements, also commonly referred to as Medigap Plans, are private insurance policies that pay the leftover 20% for Medicare-related healthcare services.

How do Medicare Supplements work?

After a visit to the doctor or hospital, Medicare will pay its 80%. Then, the rest of the bill goes to the insurance company you purchase your Medigap plan from and they pay per the plan’s agreement. If anything is left, you pick it up.

Some plans pay 100% of your coinsurance/copayments. A couple even pay your Medicare deductibles

What are the different plans?

There are 10 lettered plans that range between A-N. They are A, B, C, D, F, G, K, L, M, and N. We also have high-deductible versions of F and G available. 

It is important to remember: Plans C and F are not available to those who turned 65 in 2020 or later. This is due to the passing of the Medicare Access and CHIP Reauthorization Act of 2015 which states Medicare Supplements cannot cover Medicare Part B’s deductible, which those two plans do.

What do Medigap plans cover?

They each cover a different percentage of: 

  • Medicare Part A coinsurance or copayment and hospital costs
  • Medicare Part B coinsurance or copayment
  • First three pints of a blood transfusion
  • Part A hospice care coinsurance or copayment
  • Skilled nursing facility coinsurance
  • Medicare Part A deductible
  • Medicare Part B deductible***
  • Medicare Part B excess charges 
  • Foreign travel emergency (up to plan limits)

*** Those who turn 65 after January 1, 2020 are not eligible for plans that offer this benefit.

Which plan is best?

This answer is actually different for everyone. Each person has a different need and you likely don’t need a plan that covers everything.

However, if you do, it will depend on if you turned 65 before or after January 1, 2020. 

If you turned 65 before 2020, you are still eligible for Medicare Supplement Plan F. It covers 100% of everything above and 80% of a foreign travel emergency. 

However, if you turned 65 after January 1, 2020, the most comprehensive plan is Plan G. 

It covers everything Plan F does besides Part B’s deductible. 

However, depending on the premium savings compared to Plan F, it may make the most fiscal sense anyway.

Our help is free!

We can help you compare Medicare Supplement plans and find the right one for your budget and healthcare needs!

With Senior Medicare Advisors, you’ll get a team of unbiased experts that will educate you and then present you with options. 

We aren’t pushy and we don’t promote plans that aren’t right for you. 

Our team shops your rates with over 25 top-rated insurance companies, saving you time and money!

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