The best Medicare Supplement at a rate that won’t break your bank
Contrary to popular belief, there’s really not any one Medicare Supplement policy that is considered the “best Medicare Supplement”. While Medicare Supplement Plan F is widely known to be the most all-inclusive coverage you can possibly obtain, that doesn’t mean that the plan will suit everyone in the same way. Just like everything else in life, with better benefits comes a higher price range. Having to pay a little more each month for your health insurance may prove to be one of the most advantageous investments you could make.
Medigap Plan F is the “cream of the crop” of all Medicare Supplement plans. This policy requires no co-payments when you see your physician or if you have to go to the hospital for any reason. There is also no deductible to satisfy meaning you don’t have to worry about reaching a certain limit before the plan starts working for you. Although this is the “ideal” supplemental policy for members of Medicare, the fact remains that not all senior citizens can afford to pay the premiums associated with a policy like Plan F. If this is indeed the case, your broker or agent should be able to make appropriate suggestions for you.
Plan G will give you the exact resume of benefits provided in Medicare Supplement Plan F. However, there is one distinct difference in the two policies. Whereas Medigap Plan F affords no deductibles, Plan G requires a small deductible of $140 to be satisfied. Many seniors have found the latter to be beneficial because the premium pricing is usually slightly less expensive. The small deductible that comes with the plan may be worth it to some people in certain situations.
For those wanting to keep their monthly payments on the lower side, Medicare Supplement Plan N is often an affordable alternative. Plan N does require co-payments for doctor or hospital visits, however, you will find that the premium may be much lower than other Medigap policies. Your final selection should depend on your personal needs and objectives.
Your Medigap policy should do three things for you:
- Cover the 20% gap in your Medicare coverage
- Be affordable so that you won’t have to worry about defaulting on your health coverage.
- Save you money in the long run.
If you have questions about any Medicare Supplement policy and would like more information, inquire below to speak to a knowledgeable representative who will help you to better understand your options.