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Medicare Supplement Insurance Plans of 2018

Christian Worstell by Christian Worstell    |    Published Oct 03, 2019    |    Reviewed by John Krahnert

If you’re set to become eligible for Medicare in 2018, you may be wondering about which Medicare Supplement Insurance plan (also called Medigap) is a good fit for your needs. The short answer is that the right plan depends on each individual’s situation. Use the guide below to help you find the right Medicare Supplement Insurance plan for you in 2018 and beyond.

Qualities of the Right Medigap Plan for You

There are three things to consider when shopping around for the right Medicare Supplement Insurance plan for you: Availability, benefits and cost.

  1. Availability
    There are 10 different Medicare Supplement Insurance plans to choose from in most states. These plans are sold by private insurers, so the range of plan options can vary from one insurer to the next.

    Your search for the right plan should begin with finding out which plans are available in your state. Contact a licensed Medigap agent by calling --ms-tfn-- to find out which plans you may be eligible for based on your location.

  2. Benefits
    Medicare Supplement Insurance plans provide coverage for up to nine select benefits. But the degree of coverage will vary from one plan to the next. For example, Plan G provides 100 percent coverage of your Medicare Part A deductible while Plan L provides 75 percent coverage and Plan K provides 50 percent coverage. Meanwhile, Plan A provides no coverage for the Part A deductible at all. This is just one example of how each benefit area can differ between plans.

    Once you have found out which plans are available in your area, compare the benefits of those plans using the chart below. When doing so, try to anticipate which of the benefits might be the most useful to you and which ones you may be able to do without. Everyone has different health care needs so the value of each benefit depends on each individual.2018 Medigap plans chart

  3. Cost
    You’ve discovered which Medicare Supplement Insurance plans are available in your area and you have studied the benefits chart to determine which of those plans is suited to your needs. Now it’s time to compare costs.

    Because these plans are sold by private insurers, the cost is likely to vary from one carrier to the next. When you connect with an agent, they will be able to provide you with the cost of each plan offered by different carriers in your area. Additionally, an agent will be able to provide information about any potential discounts offered by each carrier.

Begin Your Medigap Plan Search Now

Now that you have the information you need to find the right Medicare Supplement Insurance Plan for you in 2018, you’ll want to begin your search as soon as possible. The reason for not wanting to wait is that you only have six months to enroll in a plan without facing the possibility of medical underwriting, if you apply during your Medigap Open Enrollment Period.

Your Medigap Open Enrollment Period begins on the first day of the month that you are both 65 years old and enrolled in Medicare Part B. This enrollment period then continues for the next six months. During this time, you are not subject to medical underwriting, which means that your Medigap premium rates will not be based on the status of your health.

If you wait until your six-month Medigap Open Enrollment Period is over, insurance companies have the right to base your rates on your health or even deny you coverage altogether.

Now that you have the tools to find the right Medicare Supplement Insurance plan for you in 2018, don’t hesitate to get started. Request a free quote online or call to speak with a licensed insurance agent.

 

Compare Medicare Supplement plans in your area.

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Or call --ms-tfn-- to speak with a licensed insurance agent.


 

Christian Worstell is a health care and policy writer for MedicareSupplement.com. He has written hundreds of articles helping people better understand their Medicare coverage options.

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