Medicare Breakdown: Top 4 Medicare Supplement Insurance Plans in 2020

Medicare Supplement Insurance, also known as Medigap, provides older adults with additional coverage on things that Original Medicare won’t cover. Generally, a Medigap plan helps you pay for out-of-pocket expenses, including deductibles, copayments, and coinsurances. However, there are numerous Medicare Supplement plans on the market, each with its own advantages and disadvantages. So, let’s take a look at the top four Medicare Supplement Insurance Plans:

Medicare Supplement Plan F

Medigap Plan F is by far the most popular Medigap plan available. It offers the most comprehensive benefits of any Medigap plan, with coverage for Part A and B deductibles and coinsurances. Here is a breakdown of Plan F’s primary benefits:

• Part A and B deductible
• Part B excess charges
• Coinsurance for preventative care
• Part A hospital and coinsurance costs (up to one year after Medicare benefits run out)
• Part B coinsurance or copayment
• First three pints of blood (renews annually)
• Part A hospice care copayment or coinsurance
• Skilled Nursing Facility coinsurance
• Travel emergency while traveling abroad (100% coverage)

Unfortunately, Plan F is no longer available for adults who turn 65 after January 1, 2020. However, anyone who turned 65 prior to that date can still enroll in Medigap Plan F.

Medicare Supplement Plan D

Plan D (not to be confused with Medicare Part D) covers many of the same costs as Plan F, with a few important exceptions. Here’s a breakdown of what Medigap Plan D covers:

• Part A deductible
• Part A hospital and coinsurance costs (up to one year after Medicare benefits run out)
• Part B coinsurance or copayment
• First three pints of blood (renews annually)
• Part A hospice care copayment or coinsurance
• Skilled Nursing Facility coinsurance
• Travel emergency while traveling abroad (80% coverage)

As you can see, Plan D does not cover Part B deductibles, which is a major expense for many Medicare beneficiaries. Nonetheless, Plan D is the second most popular Medigap plan on the market. It has become even more popular now that Plan F is being discontinued for new Medicare enrollees.

Medicare Supplement Plan G

Like Plans F and D, Medigap Plan G fills in a lot of the gaps left by Original Medicare. Here’s a breakdown of what Medigap Plan G covers:

• Part A deductible
• Part B excess charges
• Part A hospital and coinsurance costs (up to one year after Medicare benefits run out)
• Part B coinsurance or copayment
• Coinsurance for preventative care
• First three pints of blood (renews annually)
• Part A hospice care copayment or coinsurance
• Skilled Nursing Facility coinsurance
• Travel emergency while traveling abroad (limited coverage)

Unlike most Medigap plans, Plan G pays for Part B excess charges. This can end up saving you a lot of money over time. However, like Plan D, Plan G does not cover Part B deductibles or 100% of foreign medical emergencies.

Medicare Supplement Plan N

More than 10% of adults who purchase a Medigap plan choose Plan N. Here’s a breakdown of what Medigap Plan G covers:

• Part A deductible
• Part A hospital and coinsurance costs (up to one year after Medicare benefits run out)
• Part B coinsurance
• Coinsurance for preventative care
• First three pints of blood (renews annually)
• Part A hospice care copayment or coinsurance
• Skilled Nursing Facility coinsurance

While Plan N does provide similar benefits, it does not cover foreign medical emergencies. So, if you like to travel, Plan N is not the best choice for you. Additionally, it provides fewer Part B benefits than most of the other plans.

Bottom Line

While Plan F is one of the best Medigap options, it is no longer available to new Medicare enrollees. Fortunately, there are several plans that offer similar coverage and costs. Plans D, G, and E are the most popular alternatives. Whichever plan you choose, you can be sure that you’re saving on the hidden costs of Medicare.

If you’d like to learn more about Medicare Supplement plans and your Medicare coverage options, feel free to fill out this form or give us a call anytime. Our licensed insurance agents are focused on giving you the information you need, with zero pressure to enroll in a plan.