What is Medicare Plan N? Medicare Supplemental Plan N is one of the ten standardized Medigap plans. Although it is one of the newest plans available, Medicare Plan N is quickly becoming a favorite with Baby Boomers aging into their Medicare benefits. This is particularly true of Baby Boomers who are accustomed to sharing healthcare […]
High Deductible Medicare Plan F: Is It Worth The Risk?
High Deductible Medicare Plan F is a version of the regular Medicare Plan F in which you pay all costs until spending reaches the annual deductible. According to Medicare.gov, this plan is only available to people new to Medicare. That means you can buy this Medigap plan if you first become eligible for Medicare benefits […]
Do I Really Need Supplemental Insurance with Medicare?
We often get questions from people about to retire who are concerned about their budget. This is understandable because a fixed budget can put the squeeze on your finances. Recently I got a question from a friend with Social Security disability benefits that has had her Medicare since she was in her 50s. Now turning […]
Can I Change Medicare Supplement Plans Anytime?
When Can I Change My Medicare Supplemental Insurance Plan? Unlike Medicare Advantage and Medicare Part D, there isn’t an Annual Election Period (open enrollment) for Medicare supplements. That’s good news. The bad news is that switching Medicare supplements – to a different carrier for a better rate or to a different plan for better coverage […]
Best Medicare Supplement Plans: One Size Does Not Fit All
What Are The Best Medicare Supplement Plans? When shopping and comparing Medicare supplement plans, the most important thing to understand is the amount of coverage you need. The reason for this is that supplemental Medicare insurance (aka, Medigap) is standardized. That means that a Medicare Plan G sold by AARP, for instance, has exactly the […]
Are Medicare Supplement Plans Worth It?
When you’re first eligible for Medicare (Parts A and B), you also have a one-time opportunity to apply for Medicare supplement insurance without having to go through medical underwriting. This benefit, called guaranteed issue rights, is only available once, and the window of opportunity is only 6-months. In this article we’re going to answer an […]
Medicare Plan F vs. Plan G: Do You Really Get What You Pay For?
Which is Better: Medicare Plan F vs. G If you’re wondering which Medicare Supplement plan is the best, Plan F vs. Plan G, you’re in the right place. We’re going to answer that question as thoroughly as possible. In fact, we’re going to come at it from both directions, because both of these stellar Medigap […]
Medicare Supplement Plans with No Premiums: What’s the Scoop?
Medicare supplements, also called Medigap plans, are supplemental insurance policies for people with Original Medicare. Unlike Medicare Advantage plans, which completely replace your traditional Medicare benefits, no insurance companies offer Medigap plans with no premiums. Here’s why. Original Medicare and Medicare Advantage are both government health insurance products. These products are broken up into four […]
High Deductible Medicare Plan G: Is it Any Good?
The high deductible version of Medicare Plan G has the same coverage benefits as the regular Medigap Plan G, but you pay all costs until your Medicare-approved costs reach the annual deductible. According to Medicare.gov, High Deductible Medicare Plan G is only available if you first become eligible for Medicare benefits due to age, disability, […]
Medicare Supplement Plans: What Are They And Who Should Get One?
Nearly 11 million Medicare beneficiaries use Medicare Supplement insurance to cover the gaps in their traditional Medicare coverage. Also known as Medigap plans, supplemental Medicare policies help pay a portion of the shared costs baked into the original Medicare system. Available in all 50 states, supplements are the popular choice for people who don’t want […]
How Much Do Medicare Supplements Cost?
Many seniors are shocked to learn that Original Medicare (Part A and Part B) only pays about 80% of Medicare-covered costs and that there’s no out of pocket maximum on the costs that beneficiaries pay (the remaining 20%). Learning this is when most people become interested in supplemental Medicare insurance. A Medicare Supplement plan (aka, […]
What is a Medicare Supplement Plan… And Why Do I Need One?
A Medicare Supplement plan is additional insurance that works in conjunction with Medicare Part A and Medicare Part B benefits. There are 10 standardized plans, A to N. Each lettered plan offers a different level of coverage to suit a variety of needs. Before we get into the plans, and what they have to offer, […]
Is Medicare Plan G Better than Plan F? It All Depends on What You Value Most.
The 2010s are behind us and with the new decade comes a big change in Medicare. As of 1 January 2020, Medicare Plan F is no longer available to people getting their Medicare benefits for the first time. In other words, if you’re not age 65+ before 2020, Medicare Plan F isn’t for you. Medicare […]
Medicare Advantage vs. Medicare Supplement: Which is Best for You?
Medicare Supplement vs. Medicare Advantage: Which is Better? Before 2003, when Medicare added the private health insurance option, known as Medicare Advantage, seniors only had two options: pay out-of-pocket or buy a Medicare supplement. Now there’s anon-going debate as to which option is better. Answering this important question is made all the more difficult by […]
Medicare Plan G (Medigap Plan G): Good As You Can Get in 2020
If you’re turning age 65 this year, Medicare Plan G is the most comprehensive Medicare supplement you can buy. It’s also the most popular. You might be thinking that Plan F is the best, but that’s only true if you turned age 65 before the year 2020. Here’s why. Medicare Plan G, sometimes mistakenly called […]