Medigap Plan Comparison

If you find your health care expenses need to be lower, then you may need the extra coverage some insurance plans can give you. Medicare Supplement plans are also known as Medigap and they will take care of the leftover expenses that Original Medicare does not pay for. There are eight supplement plans and they are designated by letters A-N. Before deciding on an additional medical plan, you may want to look and compare these plans.

First you will need to decide what medical issues you want to be covered and then what Medigap plans will fulfill those needs. You need to see if the Supplement plan provides enough coverage and if the price will fit into your budget. Thinking about the future and what your medical needs may also be a consideration. Am I getting enough coverage with the health plan I have and will a higher coverage plan be better for me?

When you start researching these questions, you will begin to see what plans are available and if they suit your medical needs. Maybe you previously have had a health plan and know what Original Medicare is lacking for you. You know that Medicare will only pay 80% of your medical expenses and the remaining 20% is your responsibility and you are concerned about the gap Medicare leaves and would want some kind of insurance to help pay those expenses.

We would like to tell you about the Supplement plans available to help with those remaining costs.

Medicare Supplement Plan G has the most coverage for seniors that is available. It has tremendous coverage for all of Medicare Part A extra expenses, like Part A’s copayments, annual deductible, and hospice care. It will also take care of some of Part B costs, which include excess charges, copayments, foreign travel exchange costs, nursing care and the first three pints of blood when needed every year.

Medicare Supplement Plan N is another great Supplement plan for your consideration, but will not have as extensive coverage as Plan G. Plan N will also cover all of Part A expenses, but Part B deductible will have to be paid, before the insurance starts paying and you will have to pay some copayments and all of Part B excess charges. It will cover any nursing care needed, foreign travel exchange expense and use of blood.

We’ve discussed the two most popular Supplement plans, because they have the most coverage. If you had wanted much more coverage, then Plan F would have been the one to sign up for. Unfortunately, Plan F is no longer offered to seniors. It has been discontinued and only those who have previously had Plan F can renew it each year. It is a plan that has high coverage with less cost, but its premiums are increasing a great deal each year.

You can get plans that have less coverage, but most seniors like the extensive coverage from the plans we have discussed and the rates are much easier on a senior’s budget and give them more peace of mind.

You are probably wondering how much a Medigap plan would cost. The monthly price for a Medigap plan would be around $140 a month, but the costs could be from $40 a month to up to $200 a month, which will depend on the area you reside in and the kind of plan you choose. As you can figure out, the plan with more coverage will most likely cost more. Some of those higher coverage plans will have better values for your money and cover all that is needed for you. You will need to check carefully all the different plans and their prices to see how they add up for you and the insurance companies selling them.

We have a website where you can compare the Medigap plans, the insurance companies that sell them and the rates they are charging for them. You will need to put in your zip code to see what plans and agencies are offered in your area. That is an important factor, as the plans are all the same, but the prices will vary between the states. These plans are regulated by Medicare, but the insurance companies can decide what the price of premiums will be for each Medigap plan.

It is important to compare the prices for these plans. If you have to pay the average of $90-$100 a month, depending on the insurance carrier and where you live for a Plan G, this may not seem to be a big deal, but this is the monthly cost. So you might be paying $1080-$1320 a year and that difference can add up each year and be a great deal for your budget. It seems to be better to get a plan that is affordable and gives great deal of coverage and saves you money. It is important to look carefully at all the plans, compare the rates and find the one best suited for your medical needs and saves you money in the long run.

Our site has all the information for you to find and compare the plans with no cost to you. We are happy to answer any questions you may have, if you want to call us. Our informed agents are here to help and you only need to put in your zip code and we can give you the information your need for your area. Our charts on the website are a great start for your search to find a Medigap health insurance plan to help with your medical issues.

Comparing the rates is also comparing the insurance companies. As we said, the Medigap Supplement plans are under the Medicare regulations, but the rates charged for these plans are determined by the insurance companies. Not all insurance companies sell all the plans. They have the choice of which plans they want to offer their clients. The rates they charged will be determined by the area in which you live. They also may have added benefits, such as, prescription drugs you may need can be delivered to your home, being able to talk to a health professional 24/7, when you are unsure if a medical problem you are having is serious enough to seek treatment at a doctor or hospital. Another benefit can be a free fitness center membership, which your Medigap policy will take care of and other benefits. These can be offered by the insurance company.

Many insurance companies sell other kinds of insurance, such as, car and life. If you already have a policy with that company, you might be able to bundle your policies and have some added savings by doing this.

After you have found the Medigap policy you wish to sign up for, you will need to have already joined Medicare. Medicare goes along with a Medigap plan. A Supplement plan will cover the remaining costs that Medicare does not pay for.

You will have to be 65 years old and will be eligible to sign up for both Medicare and Medigap, three months before and three months after your 65th birthday. If you wait beyond this time period, your rates may be higher and any medical condition you might have, may not be covered.

Please give us a call and we can help you find the right Medigap plan to fit your needs and your budget. We are always here to offer our advice and find the best option on your medical insurance for you.