If you are going to get supplemental insurance to go along with your Original Medicare coverage, then you want the very best plan. We are going to show you the very best Medicare Supplement plans 2019 has to offer, and then you can decide which one will be best for you.
What Is Medicare Supplemental Insurance?
First of all, let’s look at the supplemental insurance as a whole. We are going to assume you don’t know much about it, just to be on the safe side and to ensure that everyone is one the same page. We want to make certain that you know what you are getting when you sign up for one of these plans. You may not even be sure how to sign up or if you are eligible for them, so we’ll help you out with all of that as well.
It’s usually only people who are 65 years or older who qualify for Medicare Supplement plans. They also have to have a Medicare Original plan. That’s because the supplemental insurance plans are intended to add on to the base Medicare plan. You won’t be able to buy a Supplement plan all by itself. It’s just not intended to work that way.
Once you are eligible for Medicare Supplement plans, you can’t just sign up whenever you feel like it. You have to sign up at the right time. You can sign up either around the time you turn 65 or during a period known as Open Enrollment. This Open Enrollment only comes around once per year, and it’s usually near the end of the year, from about the beginning of November to the end of December. The dates are not the same every year, so make sure you know what the start and stop times are for this enrollment period before you apply.
Anyone who meets the minimum requirement can apply for a Supplement plan, and you are guaranteed to be approved if you apply during Open Enrollment. You have to apply through a private insurance company. Despite the “Medicare” in the name, these plans are not sold through Medicare directly. Instead, Medicare provides oversight to the insurance companies that sell them.
The Supplement plans may not be compatible with other insurance you have or want to sign up for. You will need to be careful about what plans you try to sign up for at the same time. The Supplement coverage is compatible with basic Medicare and Medicare Part D, but that’s just about it. Be sure to check with your insurance agent before you sign up for additional plans, just to be sure you don’t have to cancel one of them first.
What Is Covered by Medicare Supplement Plans?
With 10 different Supplement plans, you get some very different sets of coverage. However, even though they are all different from one another, they all take their coverage from the same list of items. These are supplemental expenses, and some of the plans will only cover a few of them, while others will cover most or all of them. So, you’ll just need to choose the plan you want based on how much coverage it provides and how much is being charged for that coverage.
A Medicare Supplement plan could cover you for your Medicare deductibles. These are expenses you pay once a year for Medicare Part A and Part B, which are included in Original Medicare. Note that not all Supplement plans will cover this expense, and the two parts of Medicare’s deductibles are split into separate items. So, one of the Supplement plans may cover just one of these deductibles, but not the other.
Medicare Supplements can also cover you for copayments or coinsurance. This include coverage for nursing care, hospice care, in hospital expenses and Part B services. Once again, each of these is split into separate items on the list of supplemental coverage.
You can be covered for Medicare Part B’s excess charges as well. Most people won’t ever have to experience this charge, but for those who do, because their hospital doesn’t fully accept Medicare, can find this coverage item very useful.
Some of the best Medicare Supplement plans for 2019 cover you for pints of blood and for foreign emergency travel costs. These are not very common for most people, but if you need that kind of coverage, it is available to you.
It’s important to choose a plan that fits you well, and you may not need all the coverage we have listed here. You may only need to be covered for a few things, and you’ll have to choose your plan accordingly. The reason there are 10 different plans to pick from is because different people have different needs, and there isn’t a one-size-fits-all plan to go with.
Which Is the Best Plan?
This leads us to the question of how we determine what the best Medicare Supplement plan is for the coming years. The truth is that we can’t pick out a specific plan and say that, yes, it is the best one overall. We could say that there is a best plan for each person, but that plan could be different for many.
Foresentence, Plan F is one of the most popular Medicare Supplement plans, and it covers all the items we listed above. It’s a comprehensive plan and a very good one, in many cases. However, it is also the most expensive of these plans, and that can make it prohibitively costly for many people. Some people just won’t be able to afford Plan F, even if it offers the right amount of coverage for them.
Others may not want to pick Plan F because it offers a lot of coverage they don’t need, and while they may be able to afford it, it would be wasteful for them to buy the plan, since it charges them for some things they don’t need. You can understand then why it is hard to say there is one definitive plan that works well for everyone.
We can point out a few of the best plans, though. These are the ones that will appeal to the widest number of people and be good choices in a large number of situations. We tend to recommend the higher coverage plans because of the kind of security they provide. Even if you don’t need everything they offer right away, you may benefit from it later. The extra coverage can come in handy, so long as you can afford the plan.
So, we have picked out plans G and N as some of the best that Medicare has to offer. We want to say right off the bat that they won’t be right for everyone, but for those with lots of medical expenses to pay, these are great options. They offer tons of coverage at a reasonable price, and they pack tons of value.
Plan G is the higher coverage of the two, and it covers almost everything on the list above. The only thing it does not cover for you is the Medicare Part B deductible cost. That’s something you only pay once per year, though, and it should cost you about $183.
Plan N comes with just little less coverage, taking off that same deducible from the list we gave you earlier of supplemental items. It also takes off coverage for Part B excess charges and for some copayments.
Both of these plans have the potential to save you a lot of money, but only if you can use all he coverage they have to offer. It’s not every plan that will be good fit for you, and you need to sort through the choices you have to find the best Medicare Supplement plans for 2019.