About 15% of the US population is over the age of 65. If you’re in this percentage or joining them soon, you need to understand your options when it comes to Medicare.
While most people will have everything they need covered by a typical Medicare plan, others will need additional coverage. Fortunately, there’s an easy way to ensure you can get that.
Keep reading to learn more about Medicare Supplement plans in 2020 and how you can find one that will help you get everything you need out of your health insurance plan.
What is a Medicare Supplement Plan?
Also known as Medigap, Medicare Supplement plans are designed to fill in the gaps of Medicare. They’re provided through private insurance companies and can help you cover deductibles and other out-of-pocket expenses.
If you are enrolled in Medicare Part A and Part B, you can get Medigap insurance. The exact qualifications vary by state and insurance companies, so you need to check what’s available to you.
Medigap Plans
There are a few different plans to choose from when looking at Medigap insurance. Let’s take a closer look at what three of these have to offer so you can get a better understanding of which plan may be right for you.
Plan F
This was the most popular Medicare Supplement plan, however if your part B Effective Date is after January 1,2020, this will not be a plan option for you.
This is partially because it’s the most comprehensive and because companies that sell Medigap insurance are required by law to offer it or else Plan C.
Some of the things included in Plan F are:
- Part B deductibles
- Part B excess charges
- 80% of medical expenses while travelling internationally
Everything else that’s offered by the other plans is also covered under Plan F. If you live in Wisconsin, Minnesota, or Massachusetts your coverage will be different because they follow state standards.
* It’s also important to note that if you became eligible to receive Medicare benefits after January 1, 2020, this plan and Plan C are no longer options.*
Plan G
Plan G is extremely similar to Plan F, which is why it’s another popular option. It has the same type of coverage with one exception. Part B deductibles are not covered by Plan G.
Some companies are now offering a Plan G – Extra, which offers Vision and Hearing for an extra cost.
You can also get a high-deductible version of Plan G in many states.
Plan N
Plan N is the third most comprehensive Medigap plan available. The only aspects not covered by it are Part B deductibles and Part B excess charges.
It’s also important to note that while Plan N covers all of your Part B co-insurance, it doesn’t cover some of your doctor office visits or emergency room visits. In some cases, you’ll be expected to cover a co-payment of up to $20 or $50.
Find the Best Medicare Supplement Plans in 2020
Now you know how to supplement your Medicare plan with Medigap insurance. As you can see, this works well for people who need more than what Medicare alone has to offer.
If you want help finding the best Medicare Supplement plan options in 2020, contact us today. We would be more than happy to help you find the best Medigap plan for you and your situation with a no-cost consultation.
Just Us Insurance / Medicare Made Easy / 877-777-7055 /
Located in San Marcos, CA. and contracted in over 15 states!
* No Cost to You for our Services *
