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Medicare Supplement Plans

Medicare Supplement Plans, also known as Medigap policies, are sold by private insurance companies and will pay some or all of the health care costs that Original Medicare (Medicare Part A & B) doesn’t cover. These costs can include copayments, coinsurance, deductibles and excess fees. These types of plans help make your annual health care budget very predictable and lower your out-of-pocket spending.

How Do Medicare Supplement Plans Work?

You Are Still Part of Medicare You must have Original Medicare (Part A and Part B) in order to apply for a Medicare Supplement Plan.

Fills In The Gaps Of Medicare: Medicare Supplement plans are specifically designed to pay some or all of the costs left behind by Original Medicare. These costs include the deductibles, co-pays, coinsurance, and excess fees that Medicare does not cover.

No Networks: It doesn’t matter which insurance company you have your Medigap plan though… you can simply use any doctor or hospital anywhere in the country that accepts Original Medicare. So whether you have the Blue Cross Blue Shield Plan G or the Mutual of Omaha Plan G, your network is exactly the same!

No Referrals Needed: Medicare supplement plans do not require a referral to see a specialist. You have the choice to see any specialist in the country who accepts Medicare regardless of which insurance company you have your coverage through.

Plans Are Standardized: Medicare predesigned 10 different Medicare Supplement plans that they allow insurance companies to sell. Each of these pre-designed plans in named with a letter such as Plan G or Plan N. This means that the coverage provided by a supplemental plan, such as Plan G, is always exactly the same no matter which company you choose. Simply put, it doesn’t matter which insurance company you get your coverage though, Plan G is always Plan G and Plan N is always Plan N.

Prices Will Vary: When you start shopping for a Medicare Supplement plan the first thing you will notice is that insurance companies will charge wildly different prices for the exact same coverage. In the same way that stores such as Walmart or Target will charge different prices for the exact same can of Campbell’s chicken noodle soup… insurance companies will charge different prices for the exact same Plan N or Plan G coverage.

The premiums that companies charge for new applicants are based on your age, sex, tobacco use, zip code, and other discounts. It is important to get a rate comparison of all the top companies in your area in order to find the best deal available on your new supplemental coverage, especially since each insurance company is providing the same benefits.


Super Hint!

All Medicare 

Supplement companies must provide the exact same benefits for each plan type but prices will vary between companies.

Once you have selected a plan we can help you shop the market for your best price!

Individual Coverage: Just like with all Medicare coverage, Medicare Supplement plans only cover one person per policy.

Household Discount: Most insurance companies offer a household discount ranging from 5% up to 12%. Qualification rules differ between companies, but most make this discount available as long as you and your spouse have your Medicare Supplement coverage though the same company.

Guaranteed Renewable: Once you have a Medicare supplement plan, your insurance company can never cancel coverage due to health conditions as long as you pay your plan premiums.

Drug Coverage (Part D) is Separate: You have the freedom to choose any drug plan from any insurance company you want independent of your Medicare Supplement plan. This allows you to pick the company that is going to offer you the best price for your Medicare Supplement plan and then separately pick the best drug plan that will offer your medications for the lowest cost available. This allows you the flexibility to ensure you are saving the most money possible on each part of your Medicare coverage.

Simple Claims Process: Through a process call “automatic crossover”, Original Medicare and your supplement company automatically work together to pay your healthcare bills, so you don’t have to worry about coordinating bills or paying claims.

Plan G vs. Plan N

The two most popular Medigap Plans for 2021 is Plan G and Plan N. Plan G is the most comprehensive plan out of the 10 Medicare Supplement Plans, as it offers the highest level of coverage. The second most popular plan is Plan N because the coverage is very similar to Plan G; however, the only difference is you are responsible for your doctor visit copays, E.R. visit copays, and and Medicare Part B excess charges. In this video, explain some more key difference and what to consider when choosing a plan that works best for you.

Important Things to Know

Medicare Supplement Plans are STANDARDIZED:
The benefits of Medicare Supplement plans are set by Medicare to ensure all insurance companies offer the exact same benefits for each plan! That means Plan G sold by Blue Cross Blue Shield is Identical to the Plan G offered by Aetna, Humana, or any other company!

They are designed to make it EASY for you to compare prices!
Medicare purposefully named Supplement plans with easy to remember letters such as Plan N and Plan G. They did this because they want it to be EASY for consumers to shop around for the best price! This is something insurance companies don’t want you to know!

Coverage is identical between companies EXCEPT THE PRICE!
Even though the coverage is identical insurance companies are allowed to set their own prices. Prices are based on your age, gender, and where you live among other things. Finding the right Medicare Supplement plan for you all depends on connecting you with the company that offers the lowest rates based on your personal information. 

Supplement Plans Available in 2021

***Note: Plan availability can varies based by insurance company and your location.
***Note: Plan F is being phased out ONLY for people who join Medicare after January 1, 2020. So if you are new Medicare, Plan F is not an option. However, if you are currently on Medicare, you can still switch to Plan F with the acception of passing the health questions given by the insurance company.

Next, Watch This Quick Video on How To Find The Best Supplement Rates!

Shop For Quotes Online!

Medicare Advantage Plan Finder Tool

Watch this video to learn how you can easily shop for a Medicare Advantage Plan online using this simple tool. We will give you an in-depth, unbiased, explanation on the ins and outs of this tool and how it can benefit you when selecting a Medicare plan.

With this free quoting tool, you can easily compare your coverage options, shop for drug plans, keep track of your prescription medications, and so much more! Click on the video to learn more.