4 things to know about Medigap plan options:
- There are 10 different Medigap plans in most states. Each plan is named with a different letter.
- Medigap plan types with the same letter provide the exact same basic benefits, no matter which company you buy from. Plans with different letters provide different benefits.
- The most popular Medigap plan option is Plan F.
- Premiums vary between different plan options and insurance carriers.
There are 10 types of Medigap plans (also called Medicare Supplement insurance) to choose from. Each has been standardized by the U.S. government and is available in almost every state. (Massachusetts, Minnesota, and Wisconsin have different options.)
Each Medigap plan option is named with a letter. Click on one of the following buttons to learn more about that specific Medigap plan option.
You can also continue reading for more information about all 10 plans.
If you want to compare all 10 plan options at once, you can request a free plan comparison online today.
Insurance companies must offer the same standardized benefits for each plan option. For example, one insurer’s Plan C will have the exact same benefits as another insurer’s Plan C. The only difference is price.
There are 9 different standardized benefits that Medigap policies can cover — 4 basic benefits that each plan must cover, plus 5 additional benefits. Each plan has a different combination. Plan F is the only one that covers all 9 benefits. Plan A, on the other hand, covers only the 4 basic benefits.
Learn more about the basic benefits that Medicare Supplement insurance plans can cover.
The benefits included in each plan are listed in the chart below. A check mark √ means the plan covers that particular benefit 100%.
|Medicare Supplement Benefits||A||B||C||D||F1||G||K2||L3||M||N4|
|Part A co-insurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|MedicarePart B deductible||✓||✓||✓|
|Medicare Part B excess charges||✓||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plan F offers a high-deductible plan. This plan requires you to pay a $2,300 deductible in 2019 before it covers anything.
2. Plan K has an out-of-pocket yearly limit of $5,560 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.
3. Plan L has an out-of-pocket yearly limit of $2,780 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
The most popular Medigap plans are usually the ones that cover the most benefits.
Plan F is by far the most popular. About 55% of all Medigap plans were Plan F in 2016, according to America’s Health Insurance Plans.1 It’s also the only Medicare Supplement insurance plan that includes coverage for all 9 Medigap benefits.
The next most popular plan is Plan G. About 10% of all Medigap policies were Plan G in 2016.
The following table shows how popular each of the 10 standardized plans were in 2016.
|Rank||Plan||Share of total*|
|*Percentages do not add up to 100% because defunct and waiver state plans are not included.|
Medicare SELECT is a less expensive type of Medigap plan that is only available in certain states. Medicare SELECT plans can be any one of the 10 standardized plans. To reduce costs, SELECT plans require the enrollee to use a specified network of health care providers and hospitals in order to gain full insurance benefits.
You can learn more about Medigap and get a plan quote today by calling us directly or filling out the form on this page.