Looking for the Best Medigap Plans in 2018? Here’s how to save money with Plans M and N. Two new Medigap plans that became available in June 2010 and both offer low premiums. These popular plans offer low premiums in exchange for less coverage of Medicare deductibles. The key is to match a Medigap Plan to your individuals needs and health situation.
First, ask yourself, “What’s the likelihood of a visit to the hospital in the near future?” If you’re concerned about needing hospital care in the near future, take a look at Plan N because it pays for 100% of Medicare’s Part A deductible. With Plan N, you need only pay the $183 Part B deductible (2017), $20 co-pays for doctors’ services, and a $50 co-pay for an emergency room visit.
And what if you’re healthy and just want basic coverage? With the fewest benefits, Plan A carries the lowest premium of the affordable Medigap plans in 2018. When Medicare Part B pays for 80% doctor services, plan A will pick up 20%. It also takes care of any charges of a blood transfusion not covered by Medicare.
After Medicare Part A pays for your first 60 days of hospital care, it only pays for a portion of daily charges starting on day 61. Plan A covers the remaining portion of daily charges after 60 days, and the total Medicare reimbursement amount for an additional 365 days per lifetime.
Are there any high deductible Medigap plans in 2018?
Medicare Supplement Plan F does offer a high deductible option that offers much lower premiums than the standard Plan F. If you’re only paying for regular preventive care, it’s probably cheaper to go with a high deductible plan and just pay a few out-of-pocket fees to see a doctor once or twice a year. The deductible for this plan is currently over $2000 per year, and definitely one of the best Medigap Plans to consider while on a limited income.
What if you don’t need coverage for Medicare’s co-insurance or co-pays? Plans K and L cost less because they don’t cover all of the Part B co-insurance and co-pays. Both plans require you to meet a deductible, but after that, both pay for 100% of Part B co-insurance, co-pay, and deductible amounts for the rest of the calendar year.
Is there a way to limit your annual out-of-pocket expenses? Plans K and L also put caps on what you spend for medical bills each year. Plan K limits out-of-pocket costs to $2,310 and Plan K limits these expenses to $4,620. However, be aware that these limits do not include Part B excess charges.
How do you avoid paying Part B excess charges?
If your doctor charges more than the predetermined amount Medicare will pay for a procedure, you’re left to make up the difference. If you really don’t want to change doctors, consider Plan F which pays for 100%, or Plan G which pays for 80% of excess charges.
Medigap Plan N in 2018 could be an excellent option for those on a limited income, especially if they are healthy. With a small Part B deductible to pay, and some co-pays after that many people are already saving a tremendous amount of money due to the lower premiums. Learning about what are the best medigap plans in 2018 doesn’t need to be difficult, and there’s no reason to pay any more than you should. To get instant quotes on Plan N simply enter your Zip Code at the top of this page.
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