Coverage vs. Cost: 2021’s Top Medicare Supplement Plans

​Medicare introduces Medicare supplement plans, also known as Medigap. Medigap fills in the ‘gaps’ in coverage from the Original Medicare package in deductibles, coinsurance, and copays. Medigap policies enable seniors and the chronically ill to balance monthly payments and cover gaps in their health insurance. People opt to look for the best Medigap package this 2021. 

The best Medigap package provides the most coverage while filling in the gaps for minimal healthcare spending in the market. Medigap with comprehensive policies generally have more significant monthly premiums. 

Here are the leading Medicare Supplements according to cost and coverage:

1. Best Plan for New Enrollees - Plan G
   Plan G of the Medicare Supplement plan provides one of the most comprehensive packages for new applicants, especially senior citizens. It is a good alternative to Plan F and Plan C due to their high costs. Part B is, however, excluded from Plan G. It requires yearly payout for Part B deductible by the policyholder and a monthly premium. A higher premium means higher health coverage.
   
   
2. Best Overall Plan pre-2020 - Plan F
   Plan F has the most comprehensive policy among all other plans for a monthly premium of $140. It covers the usual health expenses and even the out-of-the-pocket gaps in premiums like deductibles, copays, and coinsurance, therefore providing more leeway for daily health expenses. However, this plan is unavailable to new enrollees who become eligible after the 1st of January, 2020. 
   
   
3. Best Affordable Plan - Plan K
   Plan K is an excellent option if you consider a supplement plan within your budget but still providing some Original Medicare costs. It varies from other policies because it covers 50% of Medicare Part B coinsurance, Blood, Part A hospice, skilled nursing, and Part A deductible. It provides a cheaper payment alternative but lesser health coverage. It charges a range of $62 to $135 monthly premium.
   
   
4. Best Plan G supplement option - Plan N
   Plan N is chosen by individuals who want comprehensive insurance coverage but at a cheaper cost. However, Plan N excludes Part B coverage, which is cumbersome since policyholders shoulder medical expenses. The annual premium ranges from $1,752 to $3,468.

Conclusion:
The selection of the best Medigap insurance coverage depends on the balance of preferred coverage and costs afforded by the policyholder. Have peace of mind and health coverage while taking care of yourself and your family.

At Insurance Plans of America, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (877) 752-6711. Get your free quote today by CLICKING HERE.