What Medigap Plan is best? With so many Medicare insurance options, it can be hard to know where to start. Let’s simplify it. In this guide, we’ll review how Medigap works and help you identify the best fit.
What is Medigap?
Medigap, also known as Medicare Supplement Insurance or MedSup, fills gaps in original Medicare coverage. It helps pay for out-of-pocket costs like copayments and deductibles. So, if you have Original Medicare, Medigap can provide extra coverage and help you save money on healthcare costs. Read our Medigap Overview here
Medigap policies are sold by private companies and you can choose from various plans depending on your needs. These companies must sell federally standardized plans that are called Plan A, B, C, D, F, G, L, K, N, and M. Most all Medigap plans let you visit any doctor or specialist who accepts Medicare, without network restrictions or referrals. With so many options, it is easy to wonder which Medigap Plan is best.
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What Medigap Plan is Best?
While there usually isn’t a one-size-fits-all solution when it comes to healthcare, there is one plan that most people determine is superior: Medigap Plan G. Senior65 helps more people enroll in Medigap plan G than all the other Medigap plans combined!
Medigap Plan G is one of the most popular Medicare Supplement (Medigap) plans because it offers a strong balance of coverage and cost. Here are five key reasons why Plan G stands out:
1. Comprehensive Coverage
- Plan G covers nearly all out-of-pocket costs that Medicare Part A and Part B do not pay for, except for the Part B deductible.
- After you pay the annual Part B deductible (which is $257 in 2024), Plan G pays for:
- Medicare Part A deductible and coinsurance
- Medicare Part B coinsurance and excess charges
- Skilled Nursing Facility coinsurance
- Foreign travel emergency care (80% up to plan limits)
3. Alternative to Plan F
- Medigap Plan F was previously the most comprehensive plan, covering even the Medicare Part B deductible. However, as of 2020, Plan F is no longer available to those new to Medicare.
- Plan G became the next best option for comprehensive coverage, driving its popularity.
4. Predictable Out-of-Pocket Costs
- Once the Part B deductible is met, beneficiaries usually have no additional medical expenses for Medicare-approved services.
- This predictability helps people budget for healthcare costs.
5. Cost-Effectiveness
- Although Plan G premiums can vary by insurer and region, it usually offers the best “bang for your buck.”
- With so many people enrolling in Medigap Plan G, it has a larger risk pool and can charge less than plans that offer fewer benefits. Yes, you read that correctly. In some states, plan G costs less than lesser plans like Medigap D.
Questions? Feel free to drop a comment or question below or call to Senior65.com directly at 800-930-7956. Our agents WILL NOT charge you a fee for a quote or enroll you in a plan. We receive commissions directly from insurance providers at no extra cost to you.
What’s the most popular Medigap plan?
Well, spoiler alert, It is Medigap Plan G! According to the latest data from America’s Health Insurance Plans (AHIP), enrollment in Plan G is growing fast. From 2021 to 2022 alone (our most recent data), enrollment grew by 8%, adding 343,000 people.
For the third year in a row, Plan G Plan G had the highest growth rate, both by percentage and number of enrollees. (Source: AHIP.org)
Wondering Which Medigap Insurance Company is the Best?
Plan G is the most popular, but the next step is finding which company offers the best deal for you. Many different insurance providers offer Medigap Plan G including, Aetna, Allstate, Anthem, Blue Cross, Blue Shield, Cigna, Globe Life, HealthNet, Humana, Mutual of Omaha, and More. Since all Medigap plans are standardized and they are the secondary payer to Medicare, usually the insurance provider who offers it at the lowest price is best. Get an instant quote here.
Give us a call at 800-930-7956, and we can help you compare prices and share insights on top providers in your area.
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Ready to take the next step?
Don’t wait! Protect your health and wallet with a Medicare Supplement plan. Finding a Medigap plan is easy. Get a free Medigap online quote today and let us handle the rest. Our agents are here to answer your questions and guide you through the enrollment process. Call 800-930-7956.