Of the Medicare supplement plans that are available for 2018, which are the best ones? The only way to answer that is to determine whiter ether best Medicare supplements for 2018 for you. That’s because the plan that works well for you and that fits your needs may not be the same plan that is a perfect fit for someone else. There is no one-size-fits-all classification or Medicare supplement plans.
Each plan is tailored to provide a different set of coverages than the other plans on the list of Medicare supplements. The one with the least amount of coverage is not the worst, nor is the one what the most coverage the best. This is because the prices that are charged for them reflect how much coverage they have, so you end up paying more for the higher coverage plans.
Some people need lots of coverage and others need only a little. If you need very little supplemental coverage, but you choose a plan that has tons of coverage, you haven’t chosen the best plan for you. So, classifying any of these plans as the best is really a relative term. Your best plan is going to be excessive or inadequate for someone else.
How the Plans Cover You
To determine which plan is the best one, you need to know what they offer. They all pull their coverage from the same list, so while these plans are all different, they all share some similarities.
Let’s look at the coverage these plans can offer, though keep in mind that each one is a different assortment of the coverage included here.
Copayments and Coinsurance- You can be covered for these common expenses by many of the Medicare supplement plans. They can cover you for your nursing care coinsurance, for Medicare Part A coinsurance and copayments (which can include hospital coverage for 365 days) and for Medicare Part B coinsurance.
Deductibles- This is another common medical expense, and it is what you are required to pay before any coverage can be provided. If you just have the basic Medicare plan, when you go to the hospital or doctor’s office, you will have to pay a deductible for the visit. But if you have coverage for those deductibles, then you just must pay the monthly premiums on your plan. There are two deductibles that are covered- one for Medicare Part A and one for Part B. The only plan to cover Part B is Plan F, though.
Foreign Travel Exchange- For those times when you need emergency medical care but the closest hospital to you is in a foreign country, you can be covered for some of the travel costs. This coverage is only for 80% with the plans that offer it, and you must pay a deductible first that is not covered by any of the plans.
Pints of Blood- You can get an additional three pints of blood annually beyond what the original Medicare plan provides.
Excess Charges- If a hospital charges you more than the Medicare- approved maximum amount for a service, that is known as an excess charge, and it is allowed in some cases. This is only covered by plans F and G.
The best Medicare supplements for 2018 offer you the most suitable coverage on these expenses at a price that you can afford to pay.
Finding the Best Plan for You
We have established that there isn’t a best plan overall, and we looked at what coverage these plans offer you. Now, it’s up to you to go over the coverage, decide what you need and then find the plan that offers that at a reasonable price.
You may find that a few of the plans offer some very similar coverage. Let’s use some of the high-coverage plans as examples since they are the ones most people gravitate towards. Plan G gives you almost full coverage for all supplemental expenses. It only leaves the Medicare Part B deductible for you to pay yourself.
Plan F is very similar, though. So, if you think Plan G is a good fit for you, then you should consider Plan F as well. Don’t just compare their coverage, though. You also need to compare the prices, because you may find that although Plan F covers you better, you are not able to afford its coverage due to how pricey it is.
You can also look at Plan N, since it is like Plan G, but a bit cheaper and offering a bit less coverage. That’s a good deal for those who like what Plan G must offer buy don’t think they can afford it.
Finding the best plan is going to take some work, and you may even want to talk to your doctor about the kinds of health problems and procedures you may need to have covered over the next few years. After all, these coverage plans are meant to protect you for the future, and you need to choose a plan that is going to be suitable for some time to come. You can always change your mind later, as your needs may change or you may find a better-priced plan. Just know that there is going to be some hassle involved in switching plans, and you shouldn’t just change plans on a whim.
It’s best to find the most suitable plan the first time. There are resources that can help you, though. Besides talking to your doctor, you can examine the plans more closely on Medicare’s website, and you can also talk to your current insurance agent about what plans might be a good choice for you.
Keep up with what the plans offer and how their coverage can change over time. For now, no changes are set to take place, but when they do, then the best plan for you may be something different than what it is now. For now, just focus on finding the best Medicare supplements for 2018.
Compare Medicare Supplement Plans 2018
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