If you're a resident of Virginia currently enrolled in Original Medicare, you have the option to bolster your Part A and Part B coverage with Medicare Supplement Insurance (Medigap plans). In Virginia, there are ten distinct plan options, each designed to cover various out-of-pocket expenses.
In this article, we delve into the top Virginia Medigap plans and insurance companies for plan year 2024.
Table of Contents
What You Need to Know
- Private insurance companies offer supplemental Medicare insurance in Virginia, not the government.
- Supplemental Medicare insurance is available in 10 different plan options, labeled A through N, each providing a different level of Medicare coverage.
- Virginia residents become eligible for supplemental Medicare insurance at age 65.
- All plans offer coverage for Medicare Part A coinsurance and hospital costs, Medicare Part B copayments or coinsurance, and the first three pints of blood.
- Most plans also cover the Medicare Part A deductible and Skilled Nursing Facility coinsurance.
- It's important to note that Medicare Supplement Insurance does not cover long-term care, vision, dental, hearing aids, or private-duty nursing.
- The average costs for a 65-year-old can vary significantly based on factors such as gender, tobacco use, your location in Virginia, and the level of coverage you select.
- A Medicare Supplement Plan is not classified as health insurance; it falls under indemnity insurance and operates under its own set of rules.
The Top 5 Medicare Supplement Plans in Virginia
There are 10 different Medigap plans. Plans are labeled A through N and standardized by the federal Medicare program.
The best plans in Virginia for the 2024 plan year are Medicare Supplement Plan F, Plan C, Plan D, Plan G, and Plan N. They are the best because they offer the most coverage.
But is one of these plans the best for you?
A good way to understand each of the 10 plans is to look at a Medigap plan chart, which shows how each plan helps Virginia residents pay their Medicare Part A and Medicare Part B deductibles, coinsurance, and copayments.
NOTE: Medicare Part A and Medigap Plan A sound similar. However, they are different, as are Medicare Part D and Medigap Plan D. Medicare organizes its benefits in “parts,” whereas private insurance companies sell “plans.” The topics are easily confused.
Understanding Your Medigap Plan Options in Virginia
Individuals covered by Medicare have unique requirements. Your age, gender, Virginia zip code, utilization of medical services, choice of healthcare providers, emergency care needs, as well as your requirements for supplies and durable medical equipment all contribute to the factors you should take into account.
These elements are essential as they significantly impact your available plan choices. It's crucial to thoroughly evaluate your outpatient and inpatient care needs as part of this consideration.
When Best = Most Coverage Available in Virginia
Most insurance experts agree that Plan G is the best option in Virginia if you are signing up for Medicare with one or more chronic health issues. It offers the most coverage you can buy if you qualify for Medicare on or after January 1, 2020.
NOTE: Plan F offers more coverage than Medicare Supplement Plan G, but it costs significantly more, and it is only available if you qualify for Medicare before 2020.
- Get Plan F and Plan G Quotes in Your Zip Code
- See All Companies Offering Plan F in Virginia
- See All Companies Offering Plan G in Virginia
When Best = Good Coverage & Monthly Savings
If you're enrolling in Medicare and find yourself in excellent health or in need of solid coverage but are concerned about the cost of Plan G, consider Medicare Supplement Plan N as a viable option. Plan N provides comprehensive coverage everywhere in Virginia for inpatient hospital stays and most medical expenses.
Plan N is a suitable choice for healthy individuals due to its cost-sharing feature. In exchange for lower monthly premiums, beneficiaries in this plan are responsible for a modest copayment for doctor's office visits (up to $20) or emergency room visits (up to $50).
When Best = Most Affordable Coverage in Virginia
Many Virginia beneficiaries don't require comprehensive coverage or simply can't manage it in their budget. If you're concerned about the monthly premium burden, consult with your insurance agent regarding Medicare Supplement Plan K and the High Deductible Plan G (HDG).
These two plan options represent the most economical choices available. Many well-informed Virginia seniors prefer these plans over a Medicare Advantage plan.
Does Virginia have Plan A, B, C, D, L and M?
In Virginia, Medicare Supplement Plan A is the most basic coverage option available. Interestingly, in many areas, its cost surpasses that of Plan N. Would you pay more to get less coverage?
While Medicare Supplement Plan C and Plan D offer coverage similar to Plan G, they come with a higher price tag. Furthermore, akin to Plan F, Plan C is exclusively available to Virginia beneficiaries who enrolled in Medicare prior to 2020.
It's important to note that only a handful of insurance companies in Virginia offer Plan L or Plan M. They rarely pan out as a good option.
Health Insurance Company vs. Life Insurance Company: Which is Best?
Every Medigap insurance carrier operating in Virginia must adhere to federal and state insurance regulations. They can't deviate from the standardized plans designated by letters A through N.
To give an example, a Plan F policy from Aetna Medicare provides identical coverage and benefits (same out-of-pocket costs covered) as a Plan F policy from Mutual of Omaha, United Healthcare, Humana, Cigna, or Blue Cross Blue Shield. This standardization simplifies the process of comparing Medigap plans.
The most important difference is the strength and quality of insurance company standing behind the plan and how they rate their plan for premium increases. It's crucial to research a company's Medicare Supplement rate increase history before making a final decision.
Virginia state laws may impose enrollment and rating limitations on carrier. For detailed information, refer to the Virginia Department of Insurance website at http://www.scc.virginia.gov/boi.
Medicare Supplement Plan F Companies in Virginia
Medicare Supplement Plan F (Medigap Plan F) is Virginia’s most popular Medigap plan. Here are the 10 best companies that offer Plan F policies in Virginia based on our reviews (click for details):
Required Benefits of Plan F in Virginia
Medigap Plan F is standardized like all Medicare Supplement Plans in Virginia. Insurance carriers are required to cover certain benefits. Plan F is the most comprehensive plan because it covers all gaps in Original Medicare.
Although Original Medicare does not cover foreign travel medical emergencies, Plan F does (up to 89%). In addition to this extra benefit, companies may offer limited additional features. One example is Physician Mutual’s Preventive Care and Hearing Loss Testing benefits.
Medicare Supplement Plan G Companies in Virginia
Medicare Supplement Plan G (Medigap Plan G) is rapidly gaining popularity with Virginia seniors. With Plan F no longer available to new Medicare beneficiaries, Plan G is the new gold standard. Here are the 10 best insurance companies that offer Medigap Plan G policies in Virginia based on our reviews (click for details):
Required Benefits of Plan G in Virginia
All Medigap plans in Virginia, including Medigap Plan G, are standardized. Insurance companies must provide the standard coverage. Plan G covers all gaps in Original Medicare except the Part B deductible. And it only covers 80% of foreign travel medical emergencies that fall within your policy’s limits.
Companies may offer additional features like UnitedHealthcare’s fitness program, Renew Active, or the Silver Sneakers fitness program.
Medicare Supplement Plan N Companies in Virginia
Medicare Supplement Plan N is similar to Plan D (not to be confused with Medicare Part D) but covers Medicare Part B coinsurance costs differently. Due to its lower cost and good coverage, it's catching the attention of many Arizona seniors. Here are the 10 best insurance companies that offer Medigap Plan N policies in Virginia based on our reviews (click for details):
Required Benefits of Plan N in Virginia
All Medicare Supplement Plans in Virginia are standardized, including Medigap Plan N. Like Plan G, Plan N does not cover the Part B deductible. It also does not cover Part B excess charges. But it does cover 80% of foreign travel medical emergencies up to the policy’s limits.
Medicare limits the types of extra benefits companies can offer. One excellent additional benefit is UnitedHealthcare’s NurseLine, which lets you talk to an experienced nurse, day or night.
Medcare Eligibility for Medigap Plans
You can apply for Medigap coverage during your Medigap Open Enrollment Period (OEP). This six-month window starts when you enroll in Medicare Part B. Virginia may have additional rules after your OEP ends.
Medicare eligibility rules grant you Medigap protections during your Medigap Open Enrollment Period. This means that, regardless of your health history or any chronic conditions, you can secure a Medicare Supplement Plan during this period from any insurance company that offers Medigap in Virginia.
Enrolling in a Medigap plan in Virginia typically involves consulting with a licensed insurance agent. If you don't already have one, we recommend reaching out to HealthCompare, an Allstate company, at 1-855-728-0510 (TTY 711). They have licensed agents nationwide, and there's no obligation.
Is a Medicare Supplement Insurance Plan Right for You?
Consider a Medicare Supplement Insurance Plan If:
- You anticipate the need for frequent healthcare services, both presently and in the future, and wish to limit deductibles and co-pays.
- You have the financial means to afford the monthly premiums associated with Medicare Supplement Insurance, and you do not qualify for Medicaid.
- You value the flexibility to select your healthcare providers and doctors under Medicare without any network restrictions.
- You require nationwide coverage or have plans to travel abroad.
- You are in your Initial Enrollment Period and possess guaranteed issue rights, enabling you to join a Medigap plan regardless of your current health condition.
- You prefer not to enroll in a Medicare Advantage plan and want to avoid the complexities of referrals and pre-authorization for healthcare services.
Consider Alternatives to a Medicare Supplement If:
- You do not anticipate needing frequent healthcare services at present or in the future.
- You missed your Medigap open enrollment period and cannot pass medical underwriting to obtain your preferred Medigap policy.
- You prefer a Medicare Advantage plan with low or zero monthly premiums.
- You have Medicaid, TRICARE, VA benefits, retiree benefits, or other coverage options that cover most of your Medicare out-of-pocket expenses.
- You favor an HMO or PPO plan, coupled with a Part D prescription drug plan, Silver Sneakers, and routine dental, vision, and hearing care.
- You can comply with the rules and limitations of a Medicare Advantage plan.
Alternatives to Virginia Medicare Supplement Plans
If you have decided that a Virginia Medicare Supplement Plan is not right for you, or that none of the 10 plan types works with your budget, there are several options:
- Stick with Original Medicare, add a Medicare Part D plan for prescription drug coverage, and pay all Part A and Part B deductibles, coinsurance, and copays costs out-of-pocket. NOTE: This is very risky, no matter how healthy you are.
- If you qualify for both Medicare and Medicaid, or have a serious health condition, enroll in a Medicare Advantage Special Needs Plan.
- If you have VA health benefits, get all of your healthcare from your nearest VA hospital. When you do, the VA will bill Medicare and pay the remainder.
- Enroll in a Medicare Advantage Plan with a low maximum out-of-pocket (MOOP) limit and reasonable copayments.
It's important to carefully weigh your options and consider your unique healthcare needs when deciding on the right path for your Medicare coverage. Each choice comes with its own advantages and considerations. If you require further guidance or have questions about the options available to you in Virginia, don't hesitate to reach out to our preferred agency, HealthCompare, at 1-855-728-0510 (TTY 711).
The next step is to get a FREE Medigap Rate Comparison Report. It will arm you with all of the information you need to make an informed decision.
MedicareWire is a Medicare consulting agency. We are not insurance agents. Our job is to help people navigate Medicare without marketing interference.
Our free report will show you rates from all carriers without a sales pitch. No Calls. No Email Spam. No Kidding!
If you would prefer to speak with an agent, our preferred, nationwide agency is HealthCompare, an Allstate company. Give them a call at 1-855-728-0510 (TTY 711).
Citations & References
- Costs of Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- What's Medicare Supplement Insurance (Medigap)?, Medicare.gov, Last Accessed October 4, 2023
- Find a Medigap policy that works for you, Medicare.gov, Last Accessed October 4, 2023
- How to compare Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- How Original Medicare works, Medicare.gov, Last Accessed October 4, 2023
- Your Medicare coverage choices, Medicare.gov, Last Accessed October 4, 2023