Best Medicare Supplement Plans

Best Medicare Supplement (Medigap Insurance) Plans

Are you having a difficult time finding the best Medicare Supplement (Medigap) Insurance plan for you?

According to a survey by PolicyGenius an in partnership with Radius Research for 2017 open enrollment season, with participants of more than 2,000 nationwide health insurance consumers, less than half of Americans understand how their insurance plan works. The survey found that 96% of Americans overestimate their understanding of health insurance concepts. Not only that, but it also showed that only 39% of respondents are very confident in their ability to choose the right plan for their needs, while 12% are not at all confident.

While you’re probably wildly entertained or even aghast by statistical comparisons, this is probably the point where you ask yourself what this means for you. If you don’t understand how your plan works, you could be stuck with a plan that’s outside of your budget or something even worse.

Research: A Way to the Best Decision

To really understand the best insurance plan for you, one must remember that each person is unique. There is no one-size-fits-all plan that can definitely work for everyone. To gain the full potential of your plan, you must consider your preferences, health status, family medical history, budget, needs and what you might need to accommodate in the near future. What plan might work for someone doesn’t mean it will also work for you.

If you’re concerned about gaining the right Medigap Insurance plan for your self, good job! You’re in the right place and able to recognize the importance and need of the appropriate plan for yourself is quite the ability indeed. That usually means that you are the type of person that likes to "do their research" before making a purchase -that is a good and wise thing. Consumers these days are jumping into decisions too quickly without understanding what they purchase, and that can leave many negative consequences.

To make a good decision, you need to have a sense of two things: how different choices change the likelihood of different outcomes and how desirable each of those outcomes is. And on what do you base that choice from? You must consider your preferences, health status, family medical history, budget, needs and what you might need to accommodate in the near future. Research all background information first whether it’s about yourself, the types of plans and their coverage, or even the insurance company.

When deciding on a plan that works for you, also keep in mind these considerations:

  • Cost
  • Coverage / benefits
  • Convenience
  • Whether or not you can choose your own doctors
  • Insurance company stability / financial rating
  • Who you will purchase the plan from
  • The level of customer service you will receive
  • Out-of-pocket expenses

The best Medigap insurance plan (also called Medicare supplement), is completely dependent on a lot of factors specially the ones that really concern you.

The Best Plan For You

Medicare Supplemental Coverage was designed to supplement or fill in the “gaps” left by the traditional Medicare (Medicare Plan A & Plan B). There are 10 policies currently available, designed in a letter system, ranging from Plan A to Plan N. The most popular options chosen by those purchasing Medigap are Plan F and Plan G. These two are the most comprehensive among the 10 policies, meaning they typically cover a lot more than others, but they’re all also the most expensive. All companies will offer the same benefits for each policy but will only differ on the price they charge

Medicare Supplement Plan F is regarded as the highest level of coverage. Medicare Supplement Plan F is by far the most popular and the most comprehensive supplemental insurance policy and covers 100% of the major gaps left by Medicare.

On the other hand, Medicare Supplement Plan N is one of the plans with a lower amount of coverage, requiring the policyholder to share the cost in the form of co-pays, etc. Plan N however generally costs less on a monthly basis. For someone who is relatively healthy Plan N can save you a great deal of money every year.

Medicare Supplement Plan G covers any medical benefit that Original Medicare covers except for the annual Part B deductible so it’s the plan that has the best value for your money. This type of plan has great coverage for both inpatient and outpatient needs and expenses. Plan G has almost the same exact benefits as the Plan F with the only difference being the annual Medicare Part B Deductible which is the first $183 in expenses you will pay the first time you have outpatient care for that year. You can also choose any doctor or hospital that accepts Medicare.

Bear in mind that all insurance companies are required to offer the same exact identical coverage and benefit for the plans that they offer only the cost of Medicare Supplement Plans can vary greatly from company to company, so in order for you to have massive savings, it is a good idea to compare Medigap Plan prices with many insurance companies to get the best deal possible.

By far, the easiest route to go about comparing Medicare supplement insurance plans is to contact an independent insurance broker (like us) who can unbiasedly compare all your different options for you, and give you deep insight into the various plans that are offered. Medicare supplement brokers work off of a commission, so there is no direct cost to you, and the price you pay for an insurance policy is the same, regardless of whether you sign up directly through a company or go with a broker, so it is definitely in your advantage to use a broker who can help you through the whole process and make your life simple.

We'll help you alleviate your fears and confusion about your healthcare by being with you every step of the way and by giving you a more in-depth knowledge about our care plans through our website and out expert Medicare Specialists which you can contact on our toll-free hotline at: (855) 230-0801 or by messaging through our website here.

We are dedicated in helping you gain the full potential of your plan based on your preferences, budget, and needs maximizing your dollars worth for your healthcare. We are ready to serve you 24 hours a day, 7 days a week to meet the demands and help cater to your needs. Best of all, our service is absolutely free of charge. We value you above all else.