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Medigap Plans

There are numerous different Medigap plans that you can choose from in 2021. Where you reside, how old you are, and which company you purchase your Medigap policy through will all impact which Medicare Supplement Insurance plans you have available to you and how much you will have to pay for your monthly premium.

If you don’t feel as though Medicare Advantage plans are a good option for you, Medicare Supplement Insurance can be an excellent way to fill in the gaps left over by Original Medicare. 

If you think you may want to buy a Medigap policy, get in contact with a licensed insurance agent at Medicare Plans Direct. We can answer all of your Medigap questions and help you to find the right health insurance plan for you.


What are Medigap plans?

Medigap, also known as Medicare Supplement Insurance, is a supplemental healthcare coverage program that works by “filling in the gaps” left over by Original Medicare. Medigap policies offer a variety of coverage options, and they can help pay for things like your Part B coinsurance, Skilled Nursing Facility (SNF) care coinsurance, Part B excess charges, your Part A deductible, foreign travel emergency expenses, and more. You should be aware that Medicare Supplement policies don’t offer prescription drug coverage, so you will also have to enroll in a separate Medicare Part D plan if you want help paying for your medications.

Medigap insurance works by covering the expenses that Medicare doesn’t pay for when your doctor bills the cost of his or her medical services. Each different Medigap policy offers unique benefits, some with broader coverage than others. 

You will pay a monthly premium for your Medigap plan on top of the monthly premium that you pay for Medicare Part B. However, in many cases, Medicare Supplement Insurance can end up saving you money in the long run by protecting you from unexpected health care expenses.

Compare Medigap Plans

You will want to compare your options before you buy a Medicare Supplement policy. The distinct Medigap plans all offer unique benefits and areas of coverage. Consequently, plans all come at a different price, as insurance companies can set premium rates however they would like in most states.

Which are the most popular Medigap plans?

Which Medigap plan is best for each person depends on their individual circumstances. However, some plans are more popular among Medicare beneficiaries than others.  

Plans F and G are especially popular. As of 2019, almost half (49%) of Medigap enrollees chose Plan F, followed by Plan G (22%). However,  Plan N is also becoming increasingly popular, with 10% of Medigap enrollees choosing Plan N the same year. These policies offer broader coverage and more benefits than the other Medicare Supplement plans. 

However, Plan F is no longer available for beneficiaries who became newly eligible for Medicare on or after January 1, 2020. Plan G is a good alternative, as the only benefit that Plan G doesn’t cover that Plan F does is the Part B deductible.

At any rate, it is best to consult with a knowledgeable Medicare insurance agent before deciding which Medigap policy is the right fit for you. Reach out to the team here at Medicare Plans Direct to get free Medigap advice today. 

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