You should want the very best supplemental insurance for your medical expenses instead of just settling for the first coverage plan you come across. However, if you look at the Medicare supplemental plans that are available, you may realize that there isn’t any one plan that is the best Medicare supplemental insurance 2018 plan.
That’s because each plan is designed for a particular type of person. If you have a lot of medical expenses but are operating on a tight budget, then Plan N is for you. If you are mostly covered by Medicare’s standard plan, but you could use a bit more coverage, then Plan A is for you. No matter what your situation and how many or how few medical bills you have to deal with, there is a supplemental plan that is designed to work well for you.
What Plan Most People Sign Up for?
If you want a leg up on figuring out the plans that are generally considered the best for the largest number of people, you should look at the high coverage plans. These are the ones that most people sign up for, even if the insurance companies aren’t generally required to sell most of them.
For a while, Plan F was the biggest seller. It’s the one full coverage plan, and that makes it a very convenient plan for people, but many feel it is overpriced. It is often far pricier than similar plans, even though their coverage is nearly identical.
So, Plan G has usurped it as the go-to plan for most people who sign up for Medicare’s supplement plans. This one offers tons of value, taking care of most supplemental expenses for what is usually considered a decent price. The price varies depending on where you live and what insurance company you choose to buy the plan from, but it will always be cheaper than Plan F and offer better value. The only supplemental expense it does not cover the is Medicare Part B deductible for $183.
All the other supplemental expenses are covered under this plan, which is a lot of coverage for Medicare subscribers. Most people will not need more coverage than that. Of course, if this one is too expensive, then Plan N is great alternative. It has nearly the same amount of coverage, simply leaving off a few small expenses, but it costs even less than Plan G. These three plans- F, G and N- are the ones that most people will gravitate towards. That doesn’t mean that any one of them is the best plan for you. You would have to look at your own medical needs and expenses to figure out which plan is right for your situation.
What You Can Have Covered
As you search for the best Medicare supplemental insurance 2018 plan, let’s examine what these plans can take care of for you. That way, you can look at what you are already paying for and what you might have to pay for soon, and see which plan manages to cover those expenses for you.
Deductibles- The Medicare Part A deductible is covered by several of the plans, and this common expense is one that many people want to have taken care of. Part B’s deductible, on the other hand, is not quite as common and only Plan F will cover it. It will only cost you $183, though.
Copayments and Coinsurance- These are common payments as well, and they accompany most medical procedures, hospital stays and doctor visits. Most plans are going to cover you for the Part A coinsurances that includes coverage for 365 days of hospital expenses. You can also be covered for Medicare parts A and B and for nursing care coinsurance.
Pints of Blood- The standard Medicare plan will provide some coverage for blood, but once that runs out, you can be further covered by your supplement plan. If this expense is covered by a supplemental plan, it will only be for an additional three pints of blood each year.
Foreign Travel Exchange- You may have to treated at a medical facility outside the United States for an emergency. If you are, you could receive coverage for some of the travel expenses with this item of coverage- up to 80%. You will have to pay the deductible upfront, though, and you will only be covered for up to $50,000 over your lifetime for this expense.
Excess Charges- The final item of coverage offered by this plan is for the Medicare Part B excess charges. This expense is only covered by plans F and G. This pertains to charges that are greater than what Medicare would normally allow.
Choosing the Best Plan
By examining the various plans that are available, you can basically pick and choose which items of coverage you want to have and which you can do without. The more things you have covered, the more you will pay, so you want to be sure that you are not paying for certain expenses that you don’t really need to and that you are not paying more for coverage than it would cost you to just take care of it out of pocket.
Finding the best plan for you is about determining how often you would have to pay these charges and then deciding if it is cheaper to just pay them on your own or have them covered throughout the year by one of these plans. Of course, you will have to look at the cost of the plans as well to make that determination, and you can do so by sourcing quotes and comparing the rates to find the best deal.
Even on the same plan, you will find different rates, so be sure to compare plans from various insurance companies to get the best Medicare supplemental insurance for 2018 for you. It will definitely be worth the effort that will take to save some money and find a suitable plan.
Compare Medicare Supplement Plans 2018
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