While Medicare provides some coverage for your medical expenses, it also leaves a lot for you to pay. You can try to pay those remaining expenses on your own or you can use Medicare Supplemental Plans in 2018 to offset the cost and control your expenses.
While Part A and Part B Medicare provide quite a bit of coverage, for most people it’s just not enough. After all, you’re responsible for your own deductibles, co-payments, and coinsurance. That could be a lot of money out-of-pocket that you would have to pay. Supplement plans pay most or all of those expenses, also called “gaps”, to help ease your mind in knowing that your medical bills will be paid.
When it comes to Medicare supplemental plans in 2018 you have a lot of options. Each plans offers unique coverage and a way for you to meet your cover needs at varying price points. The more coverage a plan offers, the more you will have to pay.
Of course, not every set of plans is priced the same. The insurance carriers that offer these plans all give you the same coverage. But they aren’t giving you the same premiums. Those premiums are prices they get to set themselves, so they can make them as high or as low as they want them to be.
That’s why you will want to look around and shop for low rates when you need a Medicare supplemental plan. Our website’s own quote generator (coming soon!) allows you to do that very quickly and at no cost to you. You just tell us where you are and what kind of plan you would like and we will find you quote from all the major insurance providers in your area. That makes it fast and easy to compare the Medicare Supplement Plans 2016 plans and rates.
Which Plans Are Best?
Now each plan has its own benefits, but there are a few that are more commonly subscribed to than any other. These are plans F, G, C and N. All these plans are the highest coverage plans, paying for more of your medical expenses than any of the other plans.
Plan F is the only plan that would be considered full coverage. Essentially any Medicare-approved expense you will accrue will be covered completely by this plan. It covers your hospitalization for as much as 365 days past what Medicare takes care of. And it provides you with three more pints of blood each year and up to 100 days of skilled nursing facility coverage. You will also be covered for 80% of any emergency medical expenses for medical care in another country as well as for all deductibles and co-payments and excess charges. This is 100 percent coverage, however with that also comes higher monthly premiums.
With Plan G, you get nearly all the coverage that Plan F provides. The only item you have to pay on your own is the Medicare Part B deductible which is $183 for 2017. This might change slightly in 2018 so keep checking back.
Plan G is a favorite among retirees due to the fact that it has lower premiums than Plan F and almost the exact same coverage. Even after you pay the Part B deductible you likely end up saving money (in some cases quite a bit of money!) on Plan G. Compare quotes for Plan F and G by entering your zip code in our website to see just how much you can save.
With Plan N, you will still have that deductible to pay as well as any Part B excess charges that can accrue from Medicare Part B. These charges are typically for medical tests and procedures only when doctors do not accept the assigned rates from Medicare. It’s estimated that over 92% of all doctors take assignment in this country so it might be something you never have to worry about.
Also with Plan N you might have some small co-pays for doctor’s visits or emergency room visits if you’re not admitted to the hospital. Still, the lower premiums on Plan N definitely make it worth checking out, especially if you’re relatively healthy.
Whether you are just turning 65 in 2018 or you already have a supplement and you want to shop for a better rate, it’s best that you get quotes from multiple companies in your area to make sure you don’t overpay for your coverage. We can help! It’s fast, easy, and of course FREE.
Supplemental plans can be expensive, but your medical bills may be even more so. It is essential that you examine the kind of coverage you would benefit from and determine how much you can afford to pay for that coverage. The insurance may seem costly upfront, but the savings can be significant over time. Medicare Supplemental Plans in 2018 aren’t changing, but that’s no reason to overpay for your coverage.