Medicare Supplement Plans

Rather than go through each lettered plan in order (A,B,C, etc.) we’ll start with the most popular supplements. We will cover them all so you will be fully informed of your options. We have also included a chart that compares all the plans side-by-side for quick reference.

Medicare Supplement Plan F

Medicare Supplement Plan F, one of the most popular and comprehensive supplements in the nation, pays 100% of the costs that Medicare doesn’t pay. When you purchase Medicare Supplement Plan F, you will not be charged any deductibles or copays. Plan F pays all expenses not covered by Medicare. As of January 1, 2020, Medicare Supplement Plan F is no longer available to new Medicare enrollees due to changes in federal law.

Medicare Supplement Plan G

If you qualify for Medicare starting from January 1, 2020, you’ll discover that Plan G offers the most extensive Medigap coverage option accessible to you. Medicare Supplement Plan G, another popular plan, functions exactly like Plan F except for the Part B deductible. Under this plan you agree to pay the Part B deductible each year ($226 for 2023) and once the deductible is met, Plan G pays everything else. Medicare covers 80% of your outpatient expenses, such as emergency care, while your Supplement steps in to cover the remaining 20% for medical procedures. After Medicare has contributed its share, the Medigap Plan G policy is required to pay the remaining balance. By allowing us to shop for the lowest rate, generally you save more than the cost of the deductible.

Medicare Supplement Plan N

Medicare Supplement Plan N is one of the newer supplemental plans that was first offered in 2010. This choice was designed for individuals who prefer the concept of having a lower premium and accepting a modest annual deductible with some copayments. This plan has lower premiums than Plans F and G, but it does come with more out-of-pocket costs.

With Plan N, you agree to pay the following

• Part B deductible ($226 for 2023).
• Up to $20 copay for doctor appointments.
• Up to $50 copay for emergency room visits

Supplemental Plan N does not cover excess charges above what Medicare approves. Excess charges are when providers are able to charge up to 15% more than what Medicare allows. You can avoid paying excess charges by inquiring with your healthcare providers in advance if they accept Medicare assignment. If they do, there’s no need for concern about excess charges.

Medicare Supplement Plan A

Typically, this plan gets overlooked because it provides the most basic benefits and has fewer benefits than other Medigap insurance plans. However, Plan A covers 20% of outpatient medical care not covered by Medicare, arguably the most important benefit. It covers the following:

• Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted.
• Medicare Part B coinsurance or copayment.
• First three pints of blood for a medical procedure.
• Part A hospice care coinsurance or copayment.

Additionally, if you qualify for early Medicare due to a disability, Medicare Plan A is made available (in most states) to people under 65 years old. However, the cost can be rather high usually because those with disabilities have higher medical costs.

Medicare Supplement Plan B

Medicare Supplement Plan B, also known as Medigap Plan B, provides identical benefits as Plan A. However, it also covers your Part A hospital deductible which is upwards of $1,500 (for 2023, it’s $1,600) and typically sees slight annual increases. If you choose Medigap Plan B, you won’t have to deal with deductible increases. Additionally, hospital deductibles are not charged annually, they are per incident, so Plan B would cover it if there were multiple visits to the hospital in the span of a year.

What Is Not Covered by Medicare Supplement Plans

Once Medicare approves a claim and pays its portion, it will forward the remaining charges of the bill to your Medicare supplement plan. It’s important to note items that are NOT covered by either Medicare or Medicare supplement plans.

• Routine dental, vision and hearing exams
• Hearing aids
• Eyeglasses or contact lenses
• Long-term care or custodial care
• Retail prescription drugs

In addition to Medicare supplements, at Senior Insurance Services, we can also help you find additional coverage for dental, vision and hearing expenses, long-term care and prescription drugs.

Choosing the Medicare Supplement That Is Right for You

When you work with us at Senior Insurance Services, we guide you through the selection process to find the plan that is most suitable for your needs and budget. With you, we carefully consider the premiums you will pay and find the lowest rates offered in your state. When we recommend specific plan providers, we carefully consider their rate trend history and advise you accordingly to minimize future increases. Finally, we take into account every provider’s financial ratings so you are confident that you have partnered with a stable provider who will fulfill their financial obligations.

Contact us today and together we will find the plan that meets your needs and your budget.

Part B deductible for 2023 is $226 for the year.

*Plans F and G also have a high deductible option which requires first paying a plan deductible of $2,700 before the plan begins to pay. Once the plan deductible is met, the plan pays 100% of covered services for the rest of the calendar year. High deductible plan G does not cover the Medicare Part B deductible. However, high deductible plans F and G count your payment of the Medicare Part B deductible toward meeting the plan deductible.

**Plans K and L pay 100% of covered services for the rest of the calendar year once you meet the out-of-pocket limit.

***Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to $50 copayment for emergency room visits that don’t result in an inpatient admission.