There are certain medical expenses not covered by Original Medicare, such as medical treatment received abroad or copays. That is where Medicare Supplement (Medigap) comes in – it helps cover those gaps in Original Medicare. Medigap coverage kicks in after Original Medicare pays its approved amounts.
Medicare beneficiaries with Medigap plans pay monthly premiums so that their out-of-pocket costs for things like deductibles, copays, and coinsurance for doctor’s office visits and hospital stays will be either partly or fully covered, depending on the Medigap plan they select.
Here are the top 3 Medicare Supplement plans.
Plan F
Medigap Plan F is the most comprehensive Medigap plan. It covers Medicare deductibles, coinsurance, and copays, leaving you with nothing out-of-pocket.
Even though Plan F offers the most comprehensive coverage, you must know who is actually eligible for this particular plan. For those who were new to Medicare as of 2020, Plan F is not available to you. If you were eligible for Medicare before 2020, you can enroll in Plan F as long as it is being offered.
Plan G
Plan G coverage is quite similar to Plan F. It provides complete coverage for each of the gaps in Medicare. It covers your hospital deductible, copays, and coinsurance, plus the 20% that Part B doesn’t cover. The only cost it does not cover is the Part B deductible.
Plan N
It offers similar benefits to Plan F, but Plan N was made for those who want to pay a lower premium as a substitute for paying a small annual deductible and some copays. It covers the 20% that Part B doesn’t. Also, it pays for your hospital deductible and all your hospital copays. On the other hand, you’ll pay excess charges, Part B deductible, and a few small copays at the doctor’s office and the ER.
If you need more information or assistance about Medicare Supplement plans, contact Cornerstone Senior Advisors. Our experienced Medicare agents can access the most suited Medigap plans for you. So, instead of wasting your time calling each provider for a quote, our agents can get you a quote on all the top Medicare Supplement Plans. Contact us today!