There are 10 different Medicare supplements—plans A, B, C, D, F, G, K, L, M, and N. Each offers its own variety of benefits at relative costs for personalized coverage.
Supplement (or Medigap) plans take care of the many out-of-pocket costs you face with Original Medicare. On its own, Parts A and B offer decent, low-cost coverage, but they certainly don’t cover everything.
Besides Medigap, your other additional options include Medicare Advantage and Part D. Unlike Medicare Advantage, which is a full alternative to Original Medicare that includes all of its coverage in a newly structured plan with some additional benefits, supplements are, as the name implies, a “supplement.”
Medigap is an addition rather than an alternative. This, however, does not mean that you will be paying more—in fact, you will be saving a significant amount on Original Medicare with a supplement plan.
All supplement plans offer this coverage:
This is the most basic of the supplement plans, Plan A. All 10 options offer these minimal benefits. As more benefits are added, the more it will cost on a monthly basis. However, even as your monthly cost increases, you will still be saving a significant amount on your Original Medicare coverage.
This is where your decision on a plan becomes important. Yes, you will pay a higher monthly premium for more coverage, but you will also be paying much less out-of-pocket for the healthcare you receive.
Some plans, like Plan K, offers a percentage of benefits to lower your monthly costs:
This way, you know that you are still getting coverage with only half of the full cost coming out of your wallet.
Other plans, like Plan F, offer the fullest possible coverage at a higher monthly cost:
No matter which plan you choose, you will save a lot of money on your Original Medicare coverage. Check out our Medicare Supplement Plan Comparison to review your full options and choose a supplement that works best for you.
If you have chosen a supplement plan, your next step is to enroll. The best time to do so is during your Medigap General Enrollment Period (GEP).
During the 7 months following your 65th birthday, you can enroll in any Medigap plan without fear of being turned away due to your health. After the GEP, however, you may no longer be eligible if you have a medical condition.
We typically advise, then, that you enroll in one as soon as you are able.
Stay informed with Texas Medicare Advisors for the latest news on Medicare, Social Security, Long Term Care, and Retirement Planning.
Still unsure if a supplement plan is right for you? Or having trouble choosing a plan? We can help. We’re Medicare experts with your health and budget in mind. If you have any questions about your insurance, call the Texas Medicare Advisors at 512-900-3008.
There are 10 different Medicare supplements—plans A, B, C, D, F, G, K, L, M, and N. Each offers its own variety of benefits at relative costs for personalized coverage.
Supplement (or Medigap) plans take care of the many out-of-pocket costs you face with Original Medicare. On its own, Parts A and B offer decent, low-cost coverage, but they certainly don’t cover everything.
Besides Medigap, your other additional options include Medicare Advantage and Part D. Unlike Medicare Advantage, which is a full alternative to Original Medicare that includes all of its coverage in a newly structured plan with some additional benefits, supplements are, as the name implies, a “supplement.”
Medigap is an addition rather than an alternative. This, however, does not mean that you will be paying more—in fact, you will be saving a significant amount on Original Medicare with a supplement plan.
All supplement plans offer this coverage:
This is the most basic of the supplement plans, Plan A. All 10 options offer these minimal benefits. As more benefits are added, the more it will cost on a monthly basis. However, even as your monthly cost increases, you will still be saving a significant amount on your Original Medicare coverage.
This is where your decision on a plan becomes important. Yes, you will pay a higher monthly premium for more coverage, but you will also be paying much less out-of-pocket for the healthcare you receive.
Some plans, like Plan K, offers a percentage of benefits to lower your monthly costs:
This way, you know that you are still getting coverage with only half of the full cost coming out of your wallet.
Other plans, like Plan F, offer the fullest possible coverage at a higher monthly cost:
No matter which plan you choose, you will save a lot of money on your Original Medicare coverage. Check out our Medicare Supplement Plan Comparison to review your full options and choose a supplement that works best for you.
If you have chosen a supplement plan, your next step is to enroll. The best time to do so is during your Medigap General Enrollment Period (GEP).
During the 7 months following your 65th birthday, you can enroll in any Medigap plan without fear of being turned away due to your health. After the GEP, however, you may no longer be eligible if you have a medical condition.
We typically advise, then, that you enroll in one as soon as you are able.
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