Medicare Supplement 5 Helpful Tips

Learn how to pick the right Medigap plan

by Amy De Vore+ on May 25, 2015 | 12 Comments

Medicare Supplement insurance, aka Medigap, is actually quite simple. Here are five helpful tips for choosing the right Medigap plan.

1) Choose Medigap Plan by Price

When choosing a Medigap plan you want to compare prices from different companies. Each Medigap Plan F is equal to Plan F from any company, same goes for any lettered plan. You can just get a quote for Medigap now, if you like, or continue reading to learn more tips.

2) More Comprehensive Medigap Plans Can Save $$

This seems counterintuitive, but a comprehensive Medigap plan like Plan C or F can actually save you a lot of money if you have a chronic illness or emergency, even though the monthly premium is higher.

3) Travel Abroad? Choose a Medigap with Foreign Emergency Care

6 Medigap plans cover foreign emergency care when traveling outside of the United States. Each plan has a separate foreign travel care deductible of $250 and covers up to 50k in emergency care, if the emergency occurs within the first 60 days of your trip.

4) Can’t Afford Medigap Full Coverage? Maybe You Can

If you are on a fixed income but still want full coverage some insurance companies may offer Medigap’s most comprehensive coverage plan Plan F with a money saving monthly premium. You can choose between Plan F High Deductible ($2,180 in 2015) or the much more rarely available Plan F Select. Medigap Plan F Select works by creating a PPO-type network of doctors and hospitals, therefore limiting your network, but reducing your premium. Both High-F and F Select offer the same comprehensive coverage.

5) Research Medigap Plans

Besides the initial price, remember Medigap plans can go up each year. Therefore you’ll want to learn how each company’s price increases with age. You’ll also want to make sure you choose a reputable company. Click here to see a Medigap comparison chart.

For further questions call 800-930-7956 or click here to get a Medigap quote.

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Reader Comments and Questions

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By Braden Bills on May 08, 2017

I didn't know that there were different kinds of medigap plans. It seems like it's important to make sure that you get one that isn't too expensive! I'll be sure to find one that's comprehensive and offers lots of support.


By John Mahoney on November 22, 2016

My brother recently applied for medicare and was denied, I want to learn more about what I can do if mine ever gets denied. I didn't know some plans covered foreign emergency care, it is such a great thing to know about since I travel a lot. I would also think it's a good idea to speak with family and friends about their thoughts on getting the best coverage you can get.


By Wade Joel on May 18, 2016

It is going to be a while before I can use Medicare but, it can never hurt to plan for the future. I liked your tip to look around for the best Medigap plan that works best for you. I did not know about the Plan F select option for Medigap.


By Randy on March 19, 2016

Which Medigap plans offer foreign travel insurance?

Randy,
6 out of 10 Medigap plans cover foreign emergency healthcare. Check out our Medigap comparison chart to see which plans offer it. Please call one of our licensed independent insurance agents at 800-930-7956, so, that we can help you find the right plan.
-Amy from https://www.senior65.com/


By Rachel Finn on February 24, 2016

I'm not very familiar with Medigap, so I really appreciate the explanations about the different kinds of coverage offered. It's good to know they offer the same comprehensive coverage. Would there be any kind of situation where a Medigap plan might not be the best option?

Rachel,
There are a few situations where a Medigap policy may not be the best option.1) For many Medicare beneficiaries who are under 65 years of age, Medigap may not be available in their area, or may only offer limited coverage. 2) If you are over 65 and still have job-based insurance, you may want to delay your enrollment in Medigap, because you will have similar coverage, and usually will not have to pay your Part B premium. and, 3) If the a Medigap plan's monthly premium is cost prohibitive, you may want to consider alternatives like Medicare Advantage.
-Eric from https://www.senior65.com/


By Hailey Renee on February 19, 2016

I like your advice about selecting a medicare supplement plan by comparing prices. I am glad to know that by comparing costs you can save a considerable amount of money. That is interesting that there are even options of care that you can get for traveling abroad.


By Bryce Trout on November 04, 2015

I have been looking for a medicare supplement for a while now and I thought your tips were really helpful. I had no idea that a more comprehensive coverage could help you save money. I think this will really help me moving forward. Thank you for sharing.


By Sandy Tull on October 23, 2015

I was not aware of the Plan F Select for health insurance! I think as long as my main doctor was within my PPO, I'd be alright with that. I need to do more research but if it brought down my deductible, I'd be a happy camper!


By Alex Jennings on August 25, 2015

Excellent, informative article, Amy! I've been thinking about getting medicare supplement insurance because my current coverage just isn't working. I'm glad that I stumbled upon your article because you've given us some really helpful tips here. I think you're absolutely right: it's important to research Medigap plans so you can make sure that you're getting the best price for your insurance. Alex Jennigns


By Luis on June 18, 2015

The old adage: You get what you pay for, seems to ring true here with Medigap plans that cost more per month can save you money in the end.


By Jamal on June 11, 2015

I have a question about the foreign emergency travel health care. Do you get 50k of coverage for every trip?

Jamal,
Great question. Unfortunately, no. The Medigap foreign emergency healthcare benefit covers 50k over the lifetime of the policy.
-Michelle from https://www.senior65.com/


By Jacob on May 25, 2015

If I'm traveling for 3 months do you think I should get travel insurance?

Jacob,
That might be a good idea for you, since generally Medicare doesn't cover any foreign healthcare emergencies, and Medigap only covers you if your accident happens within the first 60 days of your trip. Hope this helps.
-Jacima from https://www.senior65.com/



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