Medicare Supplement Plan Comparison

Sometimes, the costs of Medicare can be overwhelming. While you may not have expected it, the out-of-pocket costs associated with using your Medicare benefits can quickly become excessive. Wouldn’t you like a way to lower them? 

Medicare Supplement Plans, or Medigap, serve as excellent options for those looking for extra coverage with their Original Medicare plan. They don’t work with Medicare Advantage, but they can help Original Medicare members lower their costs by covering coinsurance, copayments, deductibles, blood transfusions, and more. 

Original Medicare does not cover many of these costs on its own, so a Medicare Supplement plan can easily come in handy when it’s time to pay the bill. 

If you are curious about your Medicare Supplement Plan options, here’s what you need to know. 

Medicare Supplement Plans

Medicare Supplement Plans, which are also called Medigap plans, are available in ten different varieties. The ten plans are labeled as Plan A, B, C, D, F, G, K, L, M, and N. Each plan is standardized, meaning that no matter where you go or who you purchase coverage from, you will receive the same benefits from each plan. 

Comparing Medigap Plans

There are several levels of coverage available through Medigap. While the most basic plans only cover a minimal amount of your out-of-pocket Medicare costs, the more comprehensive plans can eliminate a majority of the costs that usually remain after using Medicare benefits. 

Which plan you choose will impact the cost of your coverage, so it’s important to choose wisely. Here is a breakdown of each plan category. 

Basic Medigap Plans

The most basic Medigap plans only offer moderate benefits to plan members. Plan A is the most basic Medigap plan, and it offers the following benefits:

  • Plan A offers:
  • Part A coinsurance and hospital 
  • Part B coinsurance and copayment
  • 3 pints of blood paid 
  • Part A hospice coinsurance and copayment 

Plan B offers:

  • Part A coinsurance and hospital
  • Part B coinsurance and copayment
  • 3 pints of blood 
  • Part A hospice coinsurance and copayment 
  • Part A deductible 

Each of these plans offers basic benefits, leaving you with higher costs to pay. The compromise is that the premium payments for these and similar plans will be much lower.

Comprehensive Medigap Plans

To maximize your benefits and lower costs as much as possible, you could choose a comprehensive Medigap plan. The most comprehensive plans are Plans C, F, and G. 

Plan C offers:

  • Part A coinsurance and hospital 
  • Part B coinsurance and copayment
  • 3 pints of blood
  • Part A hospice coinsurance and copayment 
  • Skilled nursing facility care coinsurance 
  • Part A deductible 
  • Part B deductible 
  • Foreign travel emergency 

Plan F offers:

  • Part A coinsurance and hospital coverage
  • Part B coinsurance and copayment 
  • 3 pints of blood 
  • Part A hospice coinsurance and copayment 
  • Skilled nursing facility care coinsurance
  • Part A deductible 
  • Part B deductible 
  • Part B excess charge 
  • Foreign travel emergency 

Plan G offers: 

  • Part A coinsurance and hospital 
  • Part B coinsurance and copayment 
  • 3 pints of blood 
  • Part A hospice coinsurance and copayment 
  • Skilled nursing facility care coinsurance 
  • Part A deductible 
  • Part B excess charge 
  • Foreign travel emergency 
Cost-sharing Medigap Plans

If you only need a portion of your Medicare expenses paid by your Medigap plan, a cost-sharing plan may be right for you. These plans cover a percentage of costs, leaving you to pay the rest out-of-pocket. 

Plan K offers 50% coverage for the following benefits:

  • Medicare Part A deductible 
  • Medicare Part A hospice care coinsurance or copayment
  • Skilled nursing facility care coinsurance 
  • Medicare Part B copayment or coinsurance
  • 3 pints of blood

Plan L offers 75% coverage for the following benefits:

  • Skilled nursing facility care coinsurance coverage 
  • Medicare Part B copayment or coinsurance coverage
  • 3 pints of blood paid
  • Medicare Part A deductible 
  • Medicare Part A hospice care coinsurance or copayment

Plan L also covers 100% of Part A coinsurance and hospital costs. 

Shop Medigap Plans

The best way to find affordable rates on Medigap plans is to work with a licensed Medicare agent. At Generations Insurance, we know Medicare. With our help, you will be able to find a plan that fits your budget and lifestyle. Just contact us now to start collecting free quotes. 

Generations Insurance Logo

Start Your free Quote Today