Best Medicare Supplemental Insurance

Medicare Supplement plans or Medigap are plans that help one cover some of the costs left by Medicare plans. These plans are offered only by private companies, thus differ from the standard Medicare plans. One needs to be careful while selecting a supplement plan. Part A holders needn’t worry about a Medigap policy, but Part B holders can help you to cover some of the monthly premium,  deductible or a co-pay .

For most supplement plans you must pay a monthly premium along with the premium you pay for Part B and are meant for a single user only. Eligibility for getting a Medigap are:

That one should compulsorily be enrolled in Original Medicare 

  • Your age must be more than 65
  • You must be a Social Security disability insurance recipient for at least 2 years or must have been diagnosed with end-of-life care. If these pre-requisites are not met then you can get health insurance under the Affordable Care Act.

While opting for Medigap, remember the following points: 

  • It is illegal to have more than one Supplement plan simultaneously
  • No one can force you to switch policies or cancel the existing one
  • Medigap is in no way associated with any government enterprise.
  • Medicare Advantage plan and Medigap cannot be combined together.

Other features of supplement plans include:

  • International Coverage: If you frequently travel abroad then opting for a Medigap is value for money as your financial resources wouldn’t be strained in case of an international medical emergency. These plans also include the costs that are not included in either Part A or Part B. Plus whatever your need is, there is always a plan just for you.
  • Affordable premiums. The supplement plan covers some of the expenses that are not present in your Medicare Plan. Choosing a plan with reasonable premium saves you money and ensures coverage of health.

Best Medical Supplemental Insurance Companies

Top 5 medical insurance companies are:

1.Cigna

Cigna provides top-notch medical facilities which are widely available. Apart from wide availability, it has affordable rates and a great choice as a supplement for those who have qualified Medicare.

2.Humana

Humana is a supplemental insurance company providing plans all over the country. It has policies for 9 plans out of total 10 some out of which have international coverage also.

3.Blue Cross Blue Shield

An umbrella corporation Blue Shield is an insurance provider which works through 30 insurance providers. If you are a resident of one of those states which have some restrictions regarding Medicare supplemental policies and are unable to find a suitable plan Blue Shield is most likely to give a coverage suiting your needs.

4.Aetna

Aetna supplementary policies are limited to some extents. Online coverage is not possible and one needs to contact the representative in person.

5.United Medicare Advisors.

If you still have any doubts or queries on Medicare supplement policies and are not sure which one is right for you United Medicare may be able to help you out and clear confusion regarding the enrolment process.

 

Top 3 Medicare Supplemental Insurance Plans for 2019

Medicare Supplement or “Medicare” plans cover health care costs such as deductibles, copays, coinsurance, and extended hospital stays that Medicare Parts A and B don’t. There are several reasons you might be shopping for a Medicare plan this year but whatever it is, there’s a plan meant just for you. Such plans are sold by private insurance companies only but the government has standardised the plans into 10 choices, known as Plan A to Plan N.   

Each plan offers almost the same benefits, just plans that pay all of your out of pocket costs tend to be more expensive than plans with limited perks.  

Besides the monthly premium varies depending upon the company, location, the plan you choose and when you enroll in your Medicare plan.  

If you buy coverage when you are first eligible or have “guaranteed issue rights,” your plan may be more affordable as the insurance company can’t charge you extra.  

If you buy or change a plan with pre-existing conditions at any other time, your premium may be higher – or you may be unable to get coverage at all. This is a major reason to buy a Medicare plan as soon as you enroll in Medicare Part B.  

Best Medicare Supplement Plans

The Best Medicare Supplement Plans to forward to in 2019 are Plan N, G and F. 

Plan N is our top-ranked Medicare Supplement Plan because it has numerous benefits at a moderately low monthly rate. Its benefits include a year’s worth of hospitalisation coverage after your plan expires, payment of the 20 percent Medicare Part B coinsurance, first three pints of blood needed for a medical procedure, etc.  

Plan G is a great option as well as it offers more coverage than Plan N including no requirement of a copay for the doctor, emergency room visits and pays Medicare Part B excess charges but at a higher premium.  

Plan G is feasible for those who have frequent healthcare provider visits, want to avoid copays, or are concerned about excess charges.  

Plan F is the most comprehensive Medicare Supplement plan one can buy. But its premiums tend to be higher than Plan N or G. It has all the same benefits as Plan G, but  pays the Medicare Part B deductible, which is currently $183 per year.  

Alternative Medicare Options for 2019 are High Deductible Plan F and Plan K 

 Plan F is available in a high deductible version as well with the pre-requisite that one must meet a deductible of $2,300 before expecting any Medicare plan pay. The monthly premiums are lower but the out-of-pocket costs are not. As this is a first-dollar coverage plan minus the deductible ,it will be gone by 2020.   

If having a higher share of your own expenses is your priority, then Plan K is the one for you. In this plan, one has to pay 50% of copays, deductible, excess charges, and coinsurance under Part A & B. The sole obstruction is that it is unavailable with several carriers. Those who offer it, usually give a better overall savings with Plan N vs Plan K.