Learn More About Medicare Supplement Insurance

Medigap Open Enrollment

You can purchase Medicare Supplement insurance at any time, but the best time to do so is during your Initial Enrollment Period (IEP). Your IEP lasts six months and begins the first day of the month in which you are 65 and enrolled in Medicare Part B. If you enroll for Medicare Supplement insurance during this time, the insurance company can't subject you to medical underwriting. This means, if you have pre-existing conditions, for instance, they can't increase your premium or deny your coverage.

Medigap Prescriptions

Prescription drugs are a large part of your healthcare expenses. While Medicare Supplement insurance offers many great benefits, it doesn't cover prescriptions.

You can get prescription drug coverage through Medicare Part D, and you can have both Medigap coverage and Medicare Part D at the same time. Medicare Part D supplements your Original Medicare Parts A & B coverage. Third-party insurance companies sell Medicare Part D, and those companies determine your out-of-pocket costs.

You can also receive prescription drug coverage through most Medicare Part C (Medicare Advantage) insurance plans. Medicare Advantage replaces your Original Medicare Parts A & B, and like Part D, it's sold by third-party insurance companies. You cannot have Medigap and Medicare Advantage insurance at the same time.

What Is the Best Medicare Supplement Plan

There are 10 Medigap plans to choose from, each with their own set of benefits. Don't get stuck with a policy that doesn't work for your health and budget needs.

Below we've outlined some of the most popular Medigap plans, but it's a good idea to speak with a licensed Medicare agent to determine which policy is best for your budget and healthcare needs.

What You Need to Know About Plan G

While Medicare Supplement Plan F has been the most popular plan in the past, Medigap Plan G is a close second. With changes coming to the availability of Plan F, it might make sense for you to consider Plan G.

Medicare Supplement Plan G covers the following:

• Part A coinsurance coverage in addition to 365 extra days in the hospital when Original Medicare coverage ends
• Part B coinsurance for doctor's visits as well as outpatient hospital care
• First three pints of blood annually
• Part A coinsurance for hospice or skilled nursing care
• Part A deductible
• Part B excess charges
• Foreign emergency care

Medigap Plan G is almost identical to Medigap Plan F. The only difference is that Plan F covers the Part B deductible. However, since Plan G usually has much lower premiums than Plan F, the amount you could save in premiums could be more than the cost of the Part B deductible.

Medicare is also eliminating Medigap Plans F & C in 2020 (both of which cover the Part B deductible) for new entrants to Medicare.

Medigap Plan C

Medicare Supplement Plan C is one of the most popular Medigap plans behind Medigap Plans F, G, and N. You might notice these plans share a lot of similarities. Plan C offers almost the exact same coverage as Plan F, except for Part B excess charges.

While Medigap Plans C and F are more comprehensive, they also usually cost more.

Medicare Supplement Plan C covers the following:

• Part A coinsurance coverage in addition to 365 extra days in the hospital when Original Medicare coverage ends
• Part B coinsurance for doctor's visits as well as outpatient hospital care
• First three pints of blood annually
• Part A coinsurance for hospice or skilled nursing care
• Part A deductible
• Foreign emergency care

Medigap Plan D

Medicare Supplement Plan D is a fairly complete Medigap plan that covers quite a few deductibles, copayments, and coinsurance fees. It offers similar coverage as Plan F, except for the Part B deductible and Part B excess charges.

Medicare Supplement Plan D covers the following:

• Part A coinsurance coverage in addition to 365 extra days in the hospital when Original Medicare coverage ends
• Part B coinsurance for doctor's visits as well as outpatient hospital care
• First three pints of blood annually
• Part A coinsurance for hospice or skilled nursing care
• Part A deductible
• Foreign emergency care

Medigap Plan N

At first glance, Medigap Plan N can seem a little confusing. It looks identical to Medigap Plan G, but there's a subtle difference.

Medigap Plan N does not cover your Original Medicare Part B excess charges. That means, if your doctor charges more than Original Medicare agrees to pay, you'll be responsible for making up the difference.

Medicare Supplement Plan N covers the following:

• Part A coinsurance coverage in addition to 365 extra days in the hospital when Original Medicare coverage ends
• Part B coinsurance for doctor's visits as well as outpatient hospital care
• First three pints of blood annually
• Part A coinsurance for hospice or skilled nursing care
• Part A deductible
• Foreign emergency care