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With 10 Medigap plans to choose from, it may not be easy to know which one is right for you. Drawing a comparison between your different plan options can help you acquire the Medigap plan that is best suited for your health care and budget needs.
When comparing Medigap plans, there are a few different factors to consider.
Not every Medigap plan is available in every state, so any plan comparison should begin with determining which plans are sold in your state.
Important: Plan F and Plan C are not available to beneficiaries who became eligible for Medicare on or after January 1, 2020.
By calling 1-800-995-4219, a licensed agent can inform you which plans are available in your area.
The first thing to compare is the amount of coverage offered by each Medigap plan. By anticipating where your Medicare out-of-pocket spending may come from, you can better narrow down your plan choices and get the Medigap insurance that will cover what you need. Generally, monthly premiums are higher for the plans with more comprehensive benefits.
The chart below compares the benefits offered by the 10 standardized Medigap plans available in most states (Massachusetts, Minnesota and Wisconsin have different plan options). The same type of plan sold by any insurer must offer the same basic benefits common to that type of plan.
For example, Medigap Plan B in Colorado must offer the same basic benefits as Medigap Plan B sold in North Carolina.
A comparison of Medigap plans wouldn't be complete without looking at quotes offered by different insurance companies all selling the same plan. The cost of a Medigap plan can differ from one company to the next and each company is free to offer their own discounts and pricing models.
Medicare Supplement Insurance companies can charge different premiums for policies depending on a number of factors, including age and location.
Monthly premiums can change over time, especially if you purchase a plan that factors your age into its pricing strategy. Ask a licensed insurance agent about how the company determines its rates before you purchase a plan. Medigap policies can be priced in one of three ways:
Note: Premiums can always go up over time due to inflation or other factors, regardless of the company’s pricing structure.
Plan F is the most popular Medigap plan, with Plan C coming in second place. Plan F is the most comprehensive plan with coverage for all nine of the benefit areas Medigap plans can offer.
Plan C is one of the most comprehensive plans, but it does not include coverage for Medicare Part B excess charges.
If you enroll in Medigap during your Medigap open enrollment period (the six months after you are at least age 65 and enrolled in Medicare Part B), insurance companies cannot refuse to sell you a Medigap policy or charge you more for a plan based on your health history.
Some people who are under 65 are also eligible for Medicare and Medigap, such as people with End-Stage Renal Disease or other qualifying disabilities. However, you don’t have the same blanket guaranteed-issue rights that pertain to people over 65.
The easiest way to compare Medigap plans and rates in your area is with the help of a licensed insurance agent. Agents can answer questions and help you find the right plan for your needs.
Christian Worstell is a licensed insurance agent and a Senior Staff Writer for MedicareSupplement.com. He is passionate about helping people navigate the complexities of Medicare and understand their coverage options.
His work has been featured in outlets such as Vox, MSN, and The Washington Post, and he is a frequent contributor to health care and finance blogs.
Christian is a graduate of Shippensburg University with a bachelor’s degree in journalism. He currently lives in Raleigh, NC.
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