Medicare Supplement Plans

Medicare Supplement plans, also known as Medigap, are health insurance plans that help cover out-of-pocket costs for Original Medicare. Here are some things to know about Medicare Supplement plans:

• How they work: Medigap covers costs like deductibles, coinsurance, and copayments after Medicare pays its share.
• How to get one: You can buy a Medigap policy from a private insurer if you have Medicare Part A and Part B.
• How much they cost: You pay a monthly premium to the insurer, in addition to your Part B premium. Costs vary by coverage and insurer and may change yearly.
• How they are standardized: Medigap plans are standardized by letter (e.g., Plan A) but are different from Medicare parts.
• How to choose one: Select a plan that meets your budget and coverage needs.
• How to find information: Visit Medicare.gov or call 1‑800‑MEDICARE (1‑800‑633‑4227) for the latest details.

Medicare Supplement Insurance (Medigap) is extra coverage you can buy from a private insurer to help pay out-of-pocket costs in Original Medicare. To purchase a Medigap policy, you generally need to have Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).

There are 10 types of Medicare Supplement plans, also known as Medigap plans, in most states: A-D, F, G, and K-N. The main difference between plans with the same letter is price, which varies by insurance company.

Here are some of the popular Medicare Supplement Plans:

• Plan F: Available only to those who qualified for Medicare before 2020; popular for its comprehensive benefits.
• Plan G: Similar to Plan F, but requires you to pay the Part B deductible. It's the most popular and offers great value in many areas.
• Plan N: Doesn’t cover excess charges, which are costs above Medicare's approved amount for a service.
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Some things to consider about Medicare Supplement plans include:

• Premiums: Premiums can be expensive.  
• Coverage: Medicare Supplement plans don't cover everything, so you'll still need to pay for things like dental care, vision care, and long-term care.  
• Enrollment: You may need to sign up for a separate Medicare Part D drug plan and dental coverage.