Learning the Difference of Medigap Plans

Medicare Medigap plans are meant to fill the holes in Medicare Part A and B. As an eligible senior you have a choice between a Medicare advantage plan, administrated by the federal government, or any of the ten Medicare Supplement plans, standardized by contract, with private providers, but regulated by local State governments.

For the sake of this discussion, let’s say you have decided that a supplement plan might be best for you. How to you discover the differences that separate the ten Medigap plans from one another? In other words, which Medicare Supplement plan is best for you?
Here is some information that will, hopefully help.

Medigap Plans and Their Benefits

These are the standardize Medigap benefits, with information on which plans provide the benefit to eligible seniors.

– Extended Medicare Costs up to one additional year after your Medicare Part A coverage is depleted. All ten Medigap plans offer this benefit.

– Medicare B coverage of copayment or coinsurance.
All ten plans provide this except K, L and N. These three have limits on amount of benefit provided.

– Blood for Transfusions – up to the first three pints of your type blood.
All ten plans provide this except K and L, which have limits on amount.

– Part A care for hospice personnel payment of coinsurance amount.
All ten plans provide this except K and L, which have limits on amount.

– Coinsurance for Care at a skilled Nursing Facility.
All ten plans provide this except K and L, which have limits on amount.

– Payment of Medicare Part A deductible expense.
All ten plans provide this except A – (no coverage), K, L and M, which have limits on the coverage amount.

– Payment of Medicare Part B deductible expense.
This benefit is only covered by Medigap plans C and F.

– Medicare Part B, charges deemed to be in excess.
This benefit is only covered by Medigap plans F and G.

– Foreign Travel Emergency (Restricted to Plan Limits – which can vary)
This benefit is only covered by Medigap plans C, D, E and F.

– Payment of coinsurance in Medicare Part B for preventative care.
This benefit is covered by all ten policies.

To be sure you choose the right Medigap plan for you, the best thing to do is contact your state Medicare office. Go over Medicare parts A and B. Then become informed of your benefits and rights under the ten standardized Medicare supplement plans. Make sure you understand that even with the plans standardized, each provider can charge whatever the market will bear.

You should also take the time to investigate your costs and benefits with a Medicare Advantage plan. Despite it having lower benefits than Medigap Plans as well as a network of doctors you must stick to, for people on lower income it just might be the best option.

Finding the lowest premiums on the best Medigap Plans is easy using our website. Simply enter your zip code in the box at the top of this page to view the top 8-10 best companies for Medicare supplement insurance.

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