Medicare Supplement (Medigap) Key Benefits
More financial security and peace of mind by having low out of pocket medical bills.
Better access to quality healthcare by reducing your financial burden.
Doctor & healthcare choice. Standard plans cover you at any doctor or medical provider that accepts Medicare. There are no networks.
5 Things To Know About Medicare Supplements (Medigap)
To provide a better understanding of Medicare Supplements, here are some important things you should know.
- Each plan is represented by a letter, which means the how much coverage you have or how much out of pocket you’re responsible for.
- Medicare Supplement Plans are offered by various private insurance companies. The coverage for each letter plan is the same at each insurance company that offers it. Rates and the quality of the company, however, can vary among the insurance providers.
- When you have a Medicare Supplement policy it is secondary to Medicare A & B. Medicare receives and approves claims first, then forwards them to your Medicare Supplement insurer. Your plan must pay its part of all Medicare A & B approved claims.
- With standard Medicare Supplements, you are covered any doctor or medical provider that accepts Medicare A & B. There are no doctor networks.
- Once you have a Medicare Supplement policy, it is guaranteed to renew each year as long as you pay your premium. Your policy can never be canceled based on your age or health.
How Medicare Supplements (Medigap) Work
- Medicare A & B is your primary medical insurance.
- Medicare processes and approves claims.
- Medicare forwards claims automatically through an electronic system to your Medicare Supplement provider.
- Your Medicare Supplement insurer receives claims from Medicare.
- They process claims based on Medicare’s instructions (Medicare Supplement insurers do not authorize claims themselves).
- Claims are paid directly to your doctors and medical providers without paperwork on your part.
Medicare Supplement (Medigap) Plans & Coverage
Medicare Supplement plans, also known as Medigap plans, are standardized and identified by letter, with each letter representing a different level of coverage. Every Medicare Supplement plan works alongside Original Medicare (Parts A and B) by helping pay deductibles, copayments, and coinsurance that Medicare doesn’t fully cover. The specific Medicare Supplement plan you choose determines how much of those out-of-pocket costs you’ll be responsible for.
While there are several Medicare Supplement plans available, most beneficiaries choose from three popular options: Medicare Supplement Plan G, Medicare Supplement Plan N, and Medicare Supplement Plan F. Plan F is only available if you started Medicare Part A prior to January 1st, 2020. In recent years, this has caused Plan G and Plan N to take the lead as the two most popular options. Each plan offers a different balance of coverage and monthly premium, allowing you to select the option that best fits your healthcare needs and budget. The comparison chart below highlights the benefits and coverage differences between Plan F, Plan G, and Plan N, making it easier to determine which Medicare Supplement plan may be right for you.
| Part A & B Costs | Plan F | Plan G | Plan N |
|---|---|---|---|
| Covers All Part A Hospitalization And Nursing Facility Deductibles & Co-insurance | Yes | Yes | Yes |
| Provides 365 Additional Lifetime Hospital Days Paid At 100% (Over And Above Medicare) | Yes | Yes | Yes |
| Covers Part B 20% Co-insurance? | Yes | Yes | Yes |
| Covers Part B Deductible | Yes | No | No |
| Covers Part B Excess Charges (Amounts Billed By Doctors Over Medicare’s Fee For Service) | Yes | Yes | No |
| Are There Co-Pays After Deductible? | None | None | $20 Doctor / $50 Emergency Room |
| Coverage Summary | Plan F covers all Medicare A & B deductibles & co-insurance, so your annual liability is $0. This plan is only available if you started Medicare Part A prior to Jan. 1st, 2020. | Plan G covers all Medicare A & B costs except the Part B Deductible, which Is $285 per year. After the deductible, you have no more liability for the year. | Plan N covers all Medicare A & B costs except the Part B Deductible, which Is $285 per year. After the deductible you just have a $20 copay for doctors and $50 for ER. |
Medicare Supplement Plan Descriptions
Medicare Supplement Plan G
Medicare Supplement Plan G is the most popular of all Medicare Supplement plans because it offers comprehensive coverage with predictable out-of-pocket costs. Plan G pays all Medicare Part A and Part B deductibles, coinsurance, and copayments except for the annual Medicare Part B deductible, which is $285 in 2026.
After you have met the Part B deductible for the year, Medicare Supplement Plan G covers 100% of Medicare-approved expenses. This means you generally won’t have additional deductibles, copayments, or coinsurance for covered services, making Plan G an excellent choice for beneficiaries who want extensive coverage without paying the higher premiums often associated with Plan F.
Medicare Supplement Plan N
Medicare Supplement Plan N is often considered the value Medicare Supplement plan, combining strong coverage with lower monthly premiums. Like Plan G, Plan N requires you to pay the annual Medicare Part B deductible, which is $285 in 2026.
After you’ve met the deductible, Plan N covers most Medicare-approved expenses, but you’ll generally pay small copayments for certain doctor visits and emergency room visits. Unlike Medicare Supplement Plan G or Plan F, Plan N not cover Medicare Part B “excess charges.” These charges can occur when a healthcare provider bills more than the Medicare-approved amount. Excess charges are relatively uncommon and are often modest when they do occur.
For Medicare beneficiaries who don’t mind paying some extra copays in exchange for lower monthly premiums, Medicare Supplement Plan N can provide significant long-term savings while still offering excellent protection against major healthcare expenses.
Medicare Supplement Plan F
Medicare Supplement Plan F offers the most comprehensive coverage of all Medicare Supplement plans, paying 100% of Medicare Part A and Part B deductibles, coinsurance, and copayments for Medicare-approved services. With Plan F, eligible beneficiaries typically have little to no out-of-pocket medical expenses after paying their monthly premium.
However, Medicare Supplement Plan F is only available to individuals who became eligible for Medicare before January 1, 2020. If you became eligible for Medicare on or after that date, Plan F is no longer available for purchase. Fortunately, Medicare Supplement Plan G provides nearly identical coverage, making it the most popular alternative. In fact, many beneficiaries who were eligible for Plan F have voluntarily switched to Plan G to reduce their monthly premiums while maintaining nearly the same level of protection.
How To Choose A Medicare Supplement Plan
1. Review & understand how Medicare Supplements work and the coverage for top plans. Remember, there are 3 plans that most people choose from. In reality, 2 of the 3 options are most often chosen; Plan G or Plan N. The plans are very similar with slight differences in coverage and monthly cost.
2. Get a quote. Find out how much you’ll pay for the different plans. Rates are based on your age, zip code, sex, and possibly other factors such as if you smoke or use tobacco. There are also discounts available and we’ll help you maximize them. Click Here to get instant, personalized rates or call us at 512-537-7847.
3. Pull it all together. Weigh the coverage and monthly cost to determine which plan is best for you. If you would like to have more coverage, don’t want to think about copays, and don’t mind paying a little bit more monthly; Plan F or G may be your best option. If you don’t mind copays, don’t go to the doctor too often, and/ or would prefer a lower monthly cost; Plan N might be a better fit for you. Once you know which plan you want, you’ll just need to choose a quality insurance carrier with a competitive rate. We’re here to help. Our service is zero cost and we’ll help guide you to choosing your best option. Just give us a call at 512-537-7847 or Click Here to request information.
