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What is Medicare Supplement Insurance?
Medicare Supplement plans, or Medigap, are insurance policies sold by private insurance companies that are licensed to sell Medicare plans. They help you pay for out-of-pocket costs for services covered under Medicare Part A and Part B. These costs include deductibles, coinsurance, copayments, hospital costs after Medicare pays its share, skilled nursing facility costs, and more. Some Medicare Supplement insurance plans even include coverage for medical services while traveling outside the United States.
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What are the Different Plans?
Different Medicare Supplement plans are labeled with a different letter between A through N.
Medicare Supplements feature different benefits. However, each plan must have the same standardized coverage no matter which insurance company you purchase the plan from.
Some Medicare beneficiaries want a plan that covers everything so they don’t have to worry about out-of-pocket expenses. Others simply want some of their deductibles and copays paid for but are mostly worried about low premiums. Ultimately, the choice is up to you.
Which Medicare Supplements Have the Highest Coverage?
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Medicare Supplemental Plan F has the highest level of coverage. It pays for all of your cost-sharing on covered services so you have no out-of-pocket expenses. This option is no longer available to beneficiaries who starting receiving Medicare benefits on or after January 1st 2020.
Medicare Supplemental Plan G is the second-best in terms of coverage. The only difference between Plan F and Plan G is that Plan G does not cover the Medicare Part B Deductible, currently $257 per year in 2025. After your deductible is satisfied, the plan pays for all of your cost sharing on covered services for the remainder of the year.
Don't Make These Mistakes When You Enroll
Medicare can be a nightmare to understand. This book helps you avoid some common pitfalls when it comes to enrolling.