Which Medicare Supplement Plan Should I Consider?

Plan F, Plan G, and Plan N are the three most popular Medicare Supplement Plans.

Plan F is the most comprehensive plan and covers all the gaps in Original Medicare, while Plan G only has one difference. With a Plan G, you are required to pay the Medicare Part B Deductible.

If you compare the price of Plan G vs Plan F you generally will come out ahead with a Plan G. When comparing rates, it is important to review prices of different Medicare Supplement Policies with multiple insurance carriers.

Recently, Plan G has gained popularity over Plan F especially with new Medicare beneficiaries. Plan F is no longer available to Medicare beneficiaries that are newly eligible to Medicare after January 1st, 2020.

Plan N is also a very popular Medicare supplement plan and offers lower premiums vs Plan F and Plan G. With a Plan N, you are responsible for an Office Co-Pay and Emergency Room Co-Pays. Unlike Plan F or G, Plan N does not cover excess charges. We can discuss more about this when you book an appointment with one of our licensed agents.

What is Medicare Advantage?

Medicare Advantage Plans, sometimes called "Part C" or "MA Plans," are an “all in one” alternative to Original Medicare. They are offered by private companies approved by Medicare. If you join a Medicare Advantage Plan, you still have Medicare. These "bundled" plans include Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance), and usually Medicare drug coverage (Part D).

Although you may not pay a monthly premium for a Medicare Advantage Plan, please keep in mind you still are required to pay your Medicare Premiums.

How do I compare Medicare Advantage plans?

Be aware of the following 4 factors before enrolling in a Medicare Advantage plan:

1. Will the Medicare Advantage Plan work with my current Doctors and Hospitals?
2. What are my potential out-of-pocket costs (Co-Pays, Deductibles, and Co-Insurance)?
3. How are my prescriptions covered?
4. What additional benefits are included, such as dental, vision, and wellness programs?