Top 3 Medicare Supplement Plans

shutterstock 385151227

Share this Content

Medicare Supplements, also called Medigap, are plans that fill in the “gaps” that Original Medicare doesn’t cover. The different supplements are labeled A through D; F; G; and K – N. Bobby Brock Insurance explains how Medicare Supplement insurance works, who should buy it, and the top 3 most popular Medigap plans.  

How Do Medigap Insurance Plans Work?

Medicare Supplements pay benefits to an insured person. The benefit amount and how it’s paid depends on the specific policy and the coverage chosen. 

If you have a Medigap policy, Medicare will pay its portion of your medical costs. Then, your plan will pay its portion, which is typically the rest of your bill.   

Who Should Buy Medigap Insurance?

Whether or not you need Medigap insurance depends on many factors. Have you evaluated your health plan? If you’re dissatisfied with your current coverage, consider a supplemental plan. 

Medicare supplements are optional. The level of coverage you need is determined by:

  • How much your primary health insurance covers, and 
  • The amount you’re willing to pay for additional coverage

Medigap insurance can be helpful to anyone seeking extra protection for healthcare related costs.

The Most Popular Supplemental Insurance Plans

Plan N

Medigap Plan N is quickly becoming one of the most popular choices in the country. It was made for people who want to pay a lower premium in exchange for paying a small annual deductible and some copays. Each Medicare supplement has the potential to increase their rates every year. Plan N, historically, has had lower rate increases than others.   

Also, Plan N has up to a:

  • $20 copay for each office visit 
  • $20 copay for each specialist visit 
  • $50 emergency room copay — but this is removed if the policyholder is admitted to the hospital.  

While Plan N doesn’t cover Medicare Part B excess charges, there are hardly any of these if the provider accepts Medicare assignment. An agent at Bobby Brock Insurance can explain more about this. 

Plan F

In terms of coverage, Plan F is the most comprehensive. It covers both Original Medicare Part A and B deductibles, all copays, and all coinsurance, leaving you with zero out-of-pocket expenses when you go to the doctor. 

However, this plan isn’t available to anyone who’s new to Medicare after January 1, 2020. It’s almost always the most expensive Medigap plan.   

Note: If you already have a Plan F, you can keep it. Also, if you turned 65 before January 1st, 2020, you can still buy a new plan F. 

If you want to have the peace of mind that comes from having no out-of-pocket costs, call our agents about Plan F.

Plan G

Medicare Supplement Plan G is now the most popular plan, especially for new Medicare beneficiaries. This plan covers all of the “gaps” in Original Medicare except for the Part B outpatient care deductible — which is $198 in 2020.   

After that $198, your Plan G policy will cover all the remaining costs. 

Paying this deductible once a year means you have a lower monthly premium than Plan F. To learn more about how Plan G can save you money, contact Bobby Brock Insurance. 

Plan Benefits Chart at a Glance

BenefitsPlan FPlan GPlan N
Basic BenefitsYesYesYes
Part B coinsuranceYesYesYes
Part A deductibleYesYesYes
Skilled nursing facility coinsuranceYesYesYes
Foreign travel emergencyYesYesYes
Part B excess chargesYesYesNo
Part B deductibleYesNoNo

Bobby Brock Insurance Can Help

We’ve been helping Medicare beneficiaries choose the most cost-effective and best benefits packages to go along with their Medicare since 1992. Call (662) 844-3300 for more information about Medicare Supplement plans.

Related Blog Posts

Picture of Justin Brock

Justin Brock

President & CEO of Bobby Brock Insurance