A Summary Of The Most Popular Medicare Supplement Plans

By Author: Medicare Supplement Plans
Total Articles: 78
Comment this article

Whether you are just turning 65 and enrolling in Medicare for the first time or have been on Medicare for years, shopping for the best Medicare Supplement Plan can be challenging.  There are several plan options and many companies the same type of insurance, all for a different price.  Discerning between the many plan options can be difficult, but with a little research and education you should be able to make a wise decision.

The most popular Medicare Supplement Plan is Plan F, which is also the most comprehensive and the often the most expensive.  This is the best plan offered and is the choice of the majority of people over 65.  This plan covers virtually all the gaps between what original Medicare pays and what doctors and hospitals charge including the Part A & Part B deductible, the 20% co-insurance, and "Part B Excess Charges".  If you can afford this plan, you will sleep easy knowing almost all of your medical bills will be paid, regardless of how high the cost.  

The second most popular Medicare Supplement Plan is Plan G.  This plan is very similar to Plan F, except you must ...
... pay the annual Part B deductible, which is $155 for 2010.  Keep in mind this deductible is subject to change and was $135 in 2009.  Medicare Supplement Plan G is often anywhere from $10 to $30 cheaper per month than Plan F.  If you don't mind paying the deductible every year, this can be a very good option.  Many people who are in very good health or are looking to save a few dollars purchase this plan. 

Plan N is a new addition to the standardized Medicare Supplement Plans.  This plan is similar to plan G, but in addition to paying the Part B deductible, you will also have co-payments of $20 for physician services and $50 for urgent care and emergency room visits.  The huge benefit to this plan is the price, which is significantly lower than most Medicare Supplement Plans.  Plan N is the perfect choice for seniors who are on a very tight budget and who are in great health and can be a good substitute to those who prefer Medicare Advantage Plans.

Plan F, G, and N are the most popular Medicare Supplement Plans, but occasionally people choose to buy Medicare Supplement Plan C.  Plan C is exactly the same as Plan F, except it does not cover "Part B excess charges".  In some states doctors can not charge above the Medicare approved rate (excess charges), so Plan C and Plan F are virtually the exact same.  Plan C is often only a few dollars cheaper per month than plan F, and sometimes Plan F can even be cheaper than Plan C depending on what companies are offering the plans.  
While Plan F is the most popular of all Medicare Supplement Plans, Plan G, N and C are definitely worth examining and can be great options depending on your situation.  The easiest way to educate yourself regarding the many plans and companies is to contact an insurance broker who carries all insurance companies and offers all plans.  Getting an honest opinion about Medicare Supplemental Insurance can save you hours of research and help you make a great purchasing decision.