Medicare Supplement Plans

Medicare Plan G is currently the most popular Medicare supplement plan available due to its fantastic coverage and relatively low premiums. For anyone enrolling in Medicare on January 1st of 2020 or later, Medicare Plan G is the most comprehensive Medigap plan they can possibly enroll in.

Medicare Plan G Benefits

Medicare supplement plans are just that, they supplement the coverage of Medicare Part A and B. Medicare Part B (doctor’s services) does not begin paying anything until you first pay a deductible once per year. This is a specific amount of your medical bills that you must first pay, prior to Medicare paying. This is called the annual Part B deductible, and this amount changes each year. Currently, in 2024, this deductible amount is $240.

With Medicare Supplement Plan G, this annual Part B deductible is the only expense that you are required to pay prior to both Medicare and Plan G paying 100% of your medical costs.

For example, let’s say on January 1st, 2022 you visit your doctor and the bill is $300. Prior to Medicare paying anything, you’re required to pay the first $240 (the annual Part B deductible). So you’ll get a bill for the $240, and after that Medicare and Plan G will pay 100% of your medical bills for the rest of the calendar year.

Medicare Plan G Cost

As previously mentioned, the cost for a Medicare supplement plan will vary from company to company so it’s important to let us help you shop the rates. These rates are not easily available for the average consumer to obtain. A quick and easy way to check rates is to click the button in the upper right-hand corner of our site to compare plans and rates right here on this website. We actually do show you the rates, and we do not sell your information.

Medicare Plan G’s cost can vary anywhere from $85 per month up to over $200 depending on age and which part of the country you live in.

Medicare supplement rates are determined by various factors. These include:

• Gender
• Age
• Zip Code
• Tobacco use
• Household discounts if applicable

Medicare Plan N is becoming increasingly popular due to its lower premiums than Plan G. In exchange for lower premiums, there are a few additional out-of-pocket expenses that could occur.

With Plan N you still pay the annual Part B deductible just as you do with Plan G. The difference between the two plans, aside from the fact that Plan N has lower monthly premiums, is on Plan N after you pay the annual Part B deductible, you might have up to a $20.00 co-pay per doctor’s visit. This only applies to in-person visits and not telehealth visits.

As well, with Plan N if you visit the emergency room and you are not admitted, you will have to pay a $50 co-pay. This does not apply to urgent care facility visits though.

Medicare Part B Excess Charges

One more out-of-pocket expense that could come up with Plan N, is called Part B excess charges. These are charges that could come up only if your doctor does not accept what is called “Medicare assignment”. Approximately 99% of doctors in the country do accept the assigned rates from Medicare and will not charge Part B excess charges.

In the event your doctor does not accept assignment, they can charge up to 15% extra of what Medicare would normally charge, and they must do this for their entire practice.

The following states are not even allowed to charge Part B excess charges. If you live in one of these states you should absolutely let us help you compare rates for Medicare Plan N:

• CT
• MN
• OH
• PA
• RI
• VT
• MA
• NY

With Medicare Plan N vs Plan G being the two most popular plans, how do you choose which is best for you?

For people who want as few medical expenses as possible and don’t mind paying a little extra for that, then Medicare Plan G is likely the better choice. With just one small deductible to pay, Plan G offers the most coverage.

If you are open to the possibility of getting a few co-pays for doctor’s visits, or perhaps you’re in very good health but you still want great coverage, then Medicare Plan N is a fantastic option. We are now switching more people than ever to Plan N due to its nice low premiums each month, as well as lower rate increases than Plan G.

Lower Monthly Premiums

Medicare Plan N has lower monthly premiums than Plan G. In fact, depending on the area and your age, Plan N can be up to $30 less per month than Plan G. That means that even if you visit your doctor 6 times per year and you have to pay the full co-pay of $20 each time, you’ll save a good amount of money on Plan N.

For those who visit the doctor more often, Medicare Plan G might be the better option so you can avoid any co-pays per doctor’s visit.

Let us help compare the difference in premiums on both to make sure you end up with the right plan for you.

Medicare Plan F was the most popular Medigap plan for years because it paid 100% of the gaps in Medicare Part A and B. This became extremely expensive for everyone, and for that reason, Plan F is no longer available for people new to Medicare to enroll in. The only people who are eligible to have Plan F are those who were enrolled in Medicare prior to January 1st of 2020.

While Plan F pays 100% of the gaps in Medicare, you will also pay a higher premium for this. For many people, Medicare Plan G is a far better option. The only difference between Plan G and Plan F is who pays the annual Part B deductible. On Plan G, you must pay this deductible yourself. After that is met, Plan G pays 100% just like Plan F does. You’ll pay lower premiums though for Plan G, often much less than the deductible amount making Plan G a much better choice economically.