In 2018, the medical coverage you will need might be differ from what it is right now. Your health may change and you may require more or less care than you are receiving this year. You should plan ahead and have an insurance plan picked out to cover those changing healthcare needs. We are going to look at one option here- the Medigap Plans for 2018.
These plans work in tandem with Medicare’s basic plan. They cover all sorts of different healthcare costs- deductibles, copayments, excess charges, hospital fees, foreign emergency care expenses and coverage for more blood each year. Which of the 10 available plans that you pick will determine how many of these items are covered and to what degree they are covered.
You can always change the plan you are signed up for later, if you don’t like it. Just know that changing plans can cost you money. You are likely to have to pay some fees and to pay a higher rate for the new plan than you would have had you signed up for it when it was first available to you.
Who Can Use Medigap Plans in 2018?
In order to be eligible for a Medigap plan, you need to first be of eligible age- 65. You also need to be signed up for a Medicare basic plan. If you are signed up for any of the other more expansive Medicare plans, such as the Advantage plan, then you won’t be able to sign up for Medigap. You will create a conflict of coverage there that Medicare will rectify if you do not. They will cancel one of your plans for you, and you want to avoid that and ensure that you are only signed up for plans that do not overlap.
Now, any of the 10 Medigap plans are fine to sign up for if you have basic Medicare, but you should only sign up for one that has the coverage you need. You can also only sign up for one at a time, since much of their coverage overlaps.
If you purchase an additional coverage plan after you have signed up for Medigap, then you will lose your eligibility and you need to consult with your insurance agent before you make any changes to your coverage. It’s not difficult to obtain eligibility for these plans or to remain eligible, but you do need to know about what can put that eligibility at risk or cause some problems with your coverage.
Medigap plans are really intended for everyone who is eligible for them. If you have only a few minor medical expenses to pay after Medicare covers your basic healthcare needs and you are in fairly good health, then there is no need to sign up for any of the Medigap plans. They are really intended for people who aren’t getting enough coverage from the Medicare basic plan to be able to afford their healthcare expenses.
For those who fall under that classification, the Medigap Plans for 2018 can provide essential coverage that will make their life a bit easier.
Which Plan to Choose?
It may be difficult to sort through the many plans that are available and find the one that fits your needs. We recommend the high-coverage plans to those who need coverage beyond the basic Medicare plan. Plans F, G and N offer the most coverage out of all Medigap Plans, and they are the most cost-effective for people who have some serious medical expenses.
Plan F will cover every supplemental expense possible, but with that full coverage comes a heavy price. It is often way more expensive than the other plans, even one like Plan G that offers nearly the same coverage. The difference between these two plans is that plan G has no coverage for the Medicare Part B deductible. That’s a $183 charge, but the difference in price between these two plans is often much more than that.
Plan F gets to enjoy the label of full coverage, but it isn’t quite priced accordingly. It is priced based on its status on not on the additional coverage it offers compared to the next highest plan. If you want more bang for your buck, so to speak, then you should go with Plan G or Plan N. Their coverage is comparable to Plan F, just slightly less. They are also much cheaper than that plan, making them a good choice for anyone who is paying for their healthcare expenses on a budget.
Cut Your Costs
You can save money on Medigap plans in other ways than just choosing the most economical plan. You can benefit by comparing the rates from one insurance company to the next. These companies sell Medigap plans, as Medicare doesn’t sell any of them itself. Medicare only regulates them to ensure they obey its coverage rules and that no coverage is changed from one provider to the next.
The prices are up to the individual companies, though, and if you want a good price, you will have to do some price comparison. You can save money that way, as you will be able to see who has the lowest price. You can do that on our website, if you like, as we have a tool that lets you compare multiple prices all at the same time. It’s free to use and you can come back and make use of it as often as you like.
That’s something you should definitely do, as the prices do change from time to time. Just keep coming back to our site and comparing those prices so you know what the cheapest price is and you know where you want to go to buy your Medigap Plans for 2018 when you are ready. This will help you cut your costs and eventually make your healthcare more affordable.