Supplemental insurance provided by Medicare is something that every senior should consider. At age 65, you are eligible for this coverage for the first time, and you may need more than what is provided for you by the basic Medicare plan. Medicare Supplemental plans for 2019 go far beyond Medicare’s basic coverage to provide you with what you need to make your healthcare less expensive.
If you are one of those people who is paying too much for your healthcare, even though you already have Medicare’s coverage helping you out, then you probably need a supplemental plan. You should at least take a look at what these plans offer and consider adding some coverage to what you already have. If you chose the right plan, you can end up paying far less for medical care than you ever have. The right plan covers you in all the most important places and won’t cost you too much. By comparing prices on the plan that you think will work best for you, you can save tons of money and get plenty of value.
We want to look at the Medicare supplement plans that are available for 2019. There are 10 of these, so we won’t look at all of them, but we will look at the ones that most people tend to sign up for and help you determine if one might be a good fit for you.
How Medicare Supplement Plans Cover You
The plan you go with should be geared toward your personal needs. Supplemental coverage is meant to help people out who are paying too much out of their own pockets for healthcare. That’s plenty of people, and there are plenty of plans to accommodate all their diverse needs.
You can be covered for a wealth of medical expenses. These include copayments, deductibles, coinsurance, hospital expenses, pints of blood, foreign travel exchange and excess charges for Medicare Part B.
The copayments are for Medicare part A and B, and these are two separate items. They won’t necessarily both be covered to the same extent. The deductibles are for parts A and B of Medicare as well, and only Part A’s deductible is commonly covered. The Part B deductible will only be covered by a couple of the supplement plans.
You can be covered for nursing care coinsurance as well, along with foreign travel exchange. That’s an expense that you would normally be paying for out of your own pockets for when you are transported for emergency medical care outside of US borders. It’s a hefty expense at times, but not very common for most people. Most medical supplement plans will cover it anyway, and while you may never need it, you can treat it as a coverage cushion- additional coverage that helps to take care of unexpected expenses and emergency costs.
Medicare Supplemental plans for 2019 can also provide coverage for blood you may need. You already get some blood coverage from the basic plan, but you can receive three additional pints annually from supplemental plans.
Your Medicare Part B excess charges may be covered as well. This isn’t something commonly covered by the plans, but their art a couple of them that will take care of those expenses for you.
The Top Plans
We are going to look at the three most popular plans for 2019 now. This is based on what the most popular plans have been for the act few years, and it should still hold true in the coming years. Please note that this is not a suggestion to buy one of these plans. Your situation may be very different from the vast majority of people’s we just want you to be aware of which plans most people are signing up for and why they may choose these plans over other ones.
The three plans that the majority of people will go for are Plan F, Plan G and Plan N. In that order, they rank from highest coverage down. Plan F is full coverage, which means that it takes care of all your supplementary expenses, which is everything we just talked about. That’s your deductibles, copayments, excess charges and all that other good stuff. You may still have some medical expenses to pay if you sign up for this plan, but it won’t likely be very much. Most people will be almost entirely covered under this plan.
Plan G is the most popular plan right now, and that’s due to how people are seeing it, as a plan that has tons of value. Plan G is cheaper than Plan F, and their coverage is very similar. Plan G won’t cover the Medicare Part B deductible, but all other supplemental coverage we listed above is covered by this plan. We like it because it covers just about everything but is much cheaper than Plan F, in some cases.
Plan N dials back the coverage even further, asking you to pay for that Part B deductible too. It also does not cover you for the Part B excess charges or for some small copayments that you may need to pay from time to time.
These three plans take up the top ranks of coverage for the most part, and they are the ones that most people will be trying to get. But you may not need something quite so robust. Make no mistake, these plans cover a lot of medical expenses, and people can really benefit from that kind of coverage. But if your medical expenses are few and far between and Medicare covers you pretty well, there is no point in you buying one of these plans. They simply aren’t made for you, and while it can be comforting to have the extensive coverage, you probably don’t need it.
The massive coverage these plans provide is the obvious reason why most people will sign up for them. It’s not a good deal for some of the people who end up signing up for them, but they do like the peace of mind that comparing Medicare Supplemental Plans for 2019 provides for them.