Medicare supplement plans, also known as Medigap plans, are designed to bridge the gaps in coverage left by Original Medicare. These plans, offered by private insurance companies, help cover out-of-pocket costs such as deductibles, copayments, and coinsurance that Medicare does not cover.

Understanding Medicare Supplement Plans

Medicare supplement plans come in various types, each offering different levels of coverage. Here, we compare some of the most popular options to help you choose the right plan for your needs.

Plan F

Plan F is one of the most comprehensive Medicare supplement plans available. It covers all out-of-pocket costs that Medicare does not, including deductibles, copayments, and coinsurance. Additionally, Plan F covers foreign travel emergency expenses. However, it’s important to note that Plan F is no longer available to new Medicare beneficiaries as of January 1, 2020¹.

Plan G

Plan G is similar to Plan F, covering all out-of-pocket costs except for the Medicare Part B deductible. This plan is a popular choice for those seeking comprehensive coverage while being willing to pay the Part B deductible themselves².

Plan N

Plan N offers a more cost-effective option compared to Plans F and G. It covers most out-of-pocket costs, excluding the Part B deductible and excess charges. Excess charges occur when a doctor does not accept Medicare’s approved amount as full payment for services³.

Choosing the Right Plan

When selecting a Medicare supplement plan, consider the following factors:

• Cost: Premiums can vary significantly between plans and insurance companies.
• Coverage: Ensure the plan covers the benefits you need.
• Provider Access: Check if your preferred doctors and hospitals accept the plan.

It’s crucial to compare plans from various insurance companies to find the best coverage for your individual needs. Consulting with a licensed insurance agent can provide valuable insights and help you make an informed decision.

For more detailed comparisons and to explore your options, visit Medicare.gov.

 For personalized assistance, contact Gr8 Medicare Solutions.

¹: Medicare Supplement Plans Comparison Chart ²: Best Medicare Supplement Plans Of 2024 – Forbes Health ³: What Are Medicare Part B Excess Charges? – Healthline