The original Medicare Plan (Part A and Part B) doesn’t cover everything. Therefore, it is advisable to enroll in the Medicare Supplement Plan also known as Medigap and prevent unexpected medical bills.
There are a lot of plans to choose from. You have to consider several factors such as coverage, your needs, price and your location before you select the appropriate Medigap Plan. In this article, we will provide you with the Best Medicare Supplement Plans for 2024.
What’s on Offer?
Firstly, you need to know what’s on offer in the Medigap department. Plan A and Plan B belong to the original Medicare. Plan C is the Advantage Plan, whereas Plan D is for prescription medication. All the other plans (6 in total) are a part of the Medicare Supplement program.
For eligible Medicare recipients, you can shop online for Medicare Supplement Plans and get several quotes from top carriers to compare.
Because of a recent legislation change, Plans C and F are not available for new enrollees. This is something to keep in mind if you’ve just applied for your Medicare.
Plan G
The obvious choice for the best Medicare Supplement Plan is Plan G. This plan offers coverage across the board, with the exception of the Part B deductible. However, Plan G remains the most popular choice for new enrollees, despite the expensive monthly premiums. We suggest you measure the costs and check the coverage before you make the decision, but this plan has it all. The monthly premium for this plan is $190.
Plan F
If you are eligible for applying for Plan F, then this might be the right plan to choose. It covers items that are not covered by the original Medicare which means that you will eliminate almost all out-of-pocket costs.
For people who want comprehensive policy and not worry about the financial side of healthcare, Plan F is definitely the best choice. The monthly premium for this plan is $231.
Plan K
Not everyone is willing to pay a lot of money for their Medicare Supplement Plan. If you want to have some coverage and save some money as well, Plan K is the best selection. In case you need skilled nursing, then you must avoid Plan K. For example, Plan K covers only 50% of Medicare Part B coinsurance, blood, Part A hospice, skilled nursing and the Part A deductible.
If these aren’t the things that you will be using, then Plan K is the perfect solution for you because of a low monthly premium that is set at $77.
Plan N
Last but not least, we need to mention the Plan N which offers almost identical coverage as the Plan G at a smaller price. The only thing that Plan N doesn’t include is the Medicare Part B excess charges, but it is an attractive option with the monthly premium of $152.
Hopefully, this article will help you find the best Medicare Supplement Plan in 2024.