Identifying the best medicare supplement plans (also called medigaps) is relatively hard especially for those who do not have enough information on how they work. This is because Medicare supplement plans are identical even in different states. For example, the supplement plan B in Kentucky is similar to the supplement plan B in Texas. In this case, you can only rank the medigap based on what they have to offer. As you may have heard, medigap in 2019 are 10 in number. Choosing the best plan is a decision to make after learning them carefully.
How to categorize Medicare supplement plans for 2019
First of all, you need to know exactly what you want your insurance provider to do for you. Medigap insurance serves the purpose of supplementing original Medicare supplement plans A and B. Without these original plans, you cannot qualify for a medigap.
Key points to note
- All medigaps cover for medicare part A coinsurance and hospital costs.
- All medigap plans cover for medicare part B coinsurance or copayment. However, plans K and L cover only 50% and 75% respectively.
- Medicare part A deductible is only fully covered by plans (B,C,D,F,G,K,L,M and N). However, plans K and M only cover 50% while M covers only 75%.
- Medicare part B deductible is only covered by medigap plans C and F.
- Skilled nursing facility care coinsurance is covered by all supplement plans except A&B. In addition, Medicare supplement plans K&L only cover 50% and 75% respectively.
Which is the best medicare supplement plan?
Well, this mainly depends on your health insurance requirements. You may also need to put the costs into consideration since you cannot have what you cannot afford. If you want a medigap plan that covers all the benefits, then you should go for supplement plan F. For rates on Medicare supplement plan F in 2019 visit https://www.bestmedicaresupplementplans2019.com/medicare-supplement-plans-2019-tips-compare-options/. However, it comes at a cost. Plan F is termed as the most expensive medigap plan. This is because it can cover all the benefits that are not covered by the two original medicare insurance policies.
It is wise to have a second option in mind in case you feel that you cannot afford plan F. For example, plans G and C can serve you in almost the same way as plan F. So, it is only a matter of choice. You can have all the benefits covered for, or prioritize on just a few. The choice is yours to make.