Nearly 10,000 baby boomers are turning age 65 each day in America. Nearly all of these people will take advantage of Medicare and many will also choose to enroll in a Medigap policy. Considering that most Americans who are retiring at will need to rely on Social Security it’s important for them to choose the best Medicare supplements for 2018. This guide will help you determine which plan will fit your needs the best in terms of coverage while staying within your budget will.
The Most Popular Plans
Medicare Supplements for 2018 are offered in every state. Currently there are 10 different plans available and they are lettered A through N. Each plan is standardized by the government which means the benefits must remain the same within each letter regardless of the insurance carrier that offers it.
Medicare supplement plan F
While this plan is one of the most popular policies available due to 100% coverage, it is also the most expensive. That being said you should still use this website to get rates on a plan F as it may meet your needs and your budget. Rates vary by state, gender, tobacco use, in age. For example, a Medicare plan F in North Carolina might be as low as $100 per month however in Florida it could be almost double that. There are some other great alternatives though at a lower cost that can help with most of your medical bills.
Medicare supplement plan G
Another very popular plan is Medigap plan G. This plan is nearly identical to plan F as it offers 100% coverage of the gaps in part A and part B after you pay the annual part B deductible each year out-of-pocket. This is the only difference between the two plans, other than the fact that the monthly premium on plan G is less than plan F. For most people even after you pay the part B deductible out-of-pocket you will still end up saving more per year over plan F due to the lower premiums of plan G. This is a great choice for those on a limited income.
The Medicare supplement plan N
Plan N is a relatively new plan that came out in 2010 it was designed to have more cost sharing options built within the plan. This allows for a lower monthly premium and is a great option for people on a limited income as well as those who are relatively healthy and do not visit their doctor very often. On plan N you still must pay the part B deductible out-of-pocket each year, however you will also have up to a $20.00 co-pay per doctor’s visit after the deductible is met. As well if you visit the emergency room and you are not admitted you will be charged a $50.00 co payment for the visit. Insurance carriers can offer this plan at a much lower premium due to these additional cost-sharing options within the plan.
Regardless of which plan fits your needs the best obviously budget is a major concern. You must get rates from all of the the top carriers in your area before purchasing a plan. To view instant quotes online now simply enter your zip code below to see which Medicare supplements in 2018.
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