How to Conduct a Medicare Supplement Plans Comparison 2020

8 minute read| Updated for October, 2020
Key Takeaways:
  • Medicare Supplement plans can be personalized to best fit your health needs while saving money on healthcare costs
  • It’s important to ask for quotes from Medicare Supplement insurance companies because plan costs vary
  • Medicare Supplement Plan F is the most popular plan, but unless you were eligible for Medicare on or before January 1, 2020, you won’t be able to enroll. Plan G is a popular alternative for new enrollees and may end up saving you money
  • Choosing a high deductible Medigap plan means you’ll pay a lower monthly premium than you would with a standard plan

Medicare Supplement insurance plans are optional and offer a standardized set of benefits to Medicare recipients. Private insurers offer Medicare Supplement plans A–N that are approved by the federal government.

Choosing the right Medicare supplement plan that works for your budget could help greatly reduce your out-of-pocket medical expenses throughout your retirement years.

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How to Use a Medicare Supplement Plans Comparison Chart to Save Money

Your choice of a Medicare Supplement plan, otherwise known as Medigap, allows you to tailor your healthcare coverage to your individual needs. If your plan covers the largest possible portion of your regular and anticipated medical needs, you can save a lot of money on healthcare costs.

A Medicare Supplement plan side-by-side comparison chart allows you to quickly and easily locate the various benefits that would potentially help you the most. You can refer back to the chart while you are collecting quotes from different Medigap providers to make sure you understand how each type of coverage could affect your out-of-pocket healthcare costs in the future.

If you live in Wisconsin, Minnesota or Massachusetts, your Medigap plans may have different standards than the ones listed in a Medicare Supplement plans comparison chart.

Insurance companies offering Medicare Supplement plans aren’t required to offer every type of Medigap plan.

Medicare Supplement Plans Comparison Chart 2020

Although the various Medigap plans cover standardized benefits that don’t change from one carrier to the next, Medicare Supplement plan costs vary. For this reason, it’s important to get quotes from several local Medigap providers for the supplement plans that may best meet your needs.

Insurance companies offering Medicare Supplement plans aren’t required to offer every type of Medigap plan. If they offer any Medigap policies, they must also offer Plan A and Plan C or F.

Supplement plan benefit Medigap
Plan A
Medigap
Plan B
Medigap
Plan C
Medigap
Plan D
Medigap
Plan F
Medigap
Plan G
Medigap
Plan K
Medigap
Plan L
Medigap
Plan M
Medigap
Plan N

Part A hospital care (up to 365 days after Medicare covered benefits run out) and coinsurance

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

Hospice coinsurance

100%

100%

100%

100%

100%

100%

50%

75%

100%

100%

Part A deductible

No

100%

100%

100%

100%

100%

50%

75%

50%

100%

Part B coinsurance

100%

100%

100%

100%

100%

100%

50%

75%

100%

Up to $20 per office visit and up to $50 per emergency room visit

Part B deductible

No

No

100%

No

100%

No

No

No

No

No

Part B excess charges

No

No

No

No

100%

100%

No

No

No

No

First three pints of blood

100%

100%

100%

100%

100%

100%

50%

75%

100%

100%

Skilled nursing facility (SNF) coinsurance

No

No

100%

100%

100%

100%

50%

75%

100%

100%

Foreign travel emergency

No

No

80%

80%

80%

80%

No

No

80%

80%

Preventative care coinsurance

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Main benefit of this plan

Covers outpatient coinsurance

Covers everything included with Plan A plus hospital deductible

Pays deductible plus uncovered outpatient expenses

Offers a lot of coverage

Most popular plan due to coverage

Alternative to Part F

Pays 50% of most out-of-pocket expenses

Pay 75% of most out-of-pocket expenses

Pays 50%of most out-of-pocket expenses plus foreign travel emergency coverage

Most affordable rates

Main drawback of this plan

May not be available to people under age 65 who are eligible for Medicare due to a disability

Does not pay Part B deductible or excess charges

Does not pay Medicare excess charges

Does not pay Medicare excess charges or Part B deductible

Not available if you become eligible for Medicare on or after January 1, 2020

Does not cover Part B deductible

Unpopular so it's not offered by many insurance carriers

Unpopular so it's not offered by many insurance carriers

Unpopular so it's not offered by many insurance carriers

Must pay coinsurance for every doctor and emergency room visit

Out-of-pocket maximum cost

None

None

None

None

None

None

None

None

None

None

Unless you were eligible for Medicare on or before January 1, 2020, you won’t be able to get Plan F.

Which is the Most Popular Medicare Supplement Plan?

Medigap Plan F has long been the most popular of the supplemental insurance options. Plan F covers 100% of your out-of-pocket medical expenses for health care covered by Medicare. However, unless you were eligible for Medicare on or before January 1, 2020, you won’t be able to get Plan F.

Plan G comes in at second place among Medigap plan users. It covers the same out-of-pocket costs as Plan F but doesn’t cover your Medicare Part B deductible. You can choose Plan G no matter when you become eligible for Medicare.

Is a High-Deductible Medigap Plan Available?

Plan F and Plan G each have a high-deductible option. In 2020, Plan F and Plan G participants must meet the deductible before the plan’s coverage begins. Choosing a high deductible Medigap plan means you’ll pay a lower monthly premium than you would with a standard plan. The Plans F and G deductibles are $2,340 in 2020.

What is the Difference Between Medicare Supplement Plans and Medicare Parts?

It’s easy to confuse Medicare Supplement plans, also called Medigap plans, and Medicare parts. You’ll get Medicare Part A and Part B with Original Medicare.

Part C (also known as Medicare Advantage) is an alternative to Original Medicare that offers additional benefits not covered by Medicare, such as vision, hearing, and dental care. Part D is optional and it covers some prescription drug costs.

The Medicare Supplement plans offered are optional add-ons that help cover medical costs left over after Medicare pays its portion in any given calendar year. There are 10 Medigap plans available in most states.

You can get help choosing the right Medigap Plan for you, including a free quote and access to local insurance providers by filling out this short online form.