Medicare Supplemental Insurance plans are made to cover the expenses that Original Medicare does not. To learn more about how Medigap works and when to enroll, click here.

What are the different Medicare Supplement Plans?

Each Medicare supplement plan has a letter, A – N. Each plan has a different set of benefits. However, the coverage of each plan is standard across all companies. For example, Plan A at one company has the same benefits as Plan A from another.

The Medicare supplement chart below shows the 10 standardized Medicare supplement plans. These plans can be offered by insurance companies in most states. Wisconsin, Minnesota, and Massachusetts have different options.

 

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Guaranteed Issue

Your Medicare supplement guaranteed issue rights allow you to purchase some plans outside of open enrollment under certain circumstances. Furthermore, the insurance company cannot deny your application for any health reasons. A guaranteed issue window works like open enrollment, except that is a shorter period of time and you can only choose from Plans A, B, C, F, K, and L.

Dropping Employer Coverage: If retire or lose group coverage, you have the right to purchase certain Medigap policies within the 63 days following the loss of your group coverage.

Losing Medicare Advantage Coverage: If moving out of state, you may lose MA coverage. Guaranteed issue rules can vary by state, so be sure to check with a licensed agent who can inform you about the laws that apply in your state. Our agency is licensed in over 30 states, so feel free to contact us if you would like for us to check for you.

You will want to keep any notices from your prior carrier that show proof of your creditable coverage for guaranteed issue and also so that you do not incur the Part D late enrollment penalty.

Plan Underwriting

If your window has already passed for open enrollment or guaranteed issue, you can still apply for a Medicare supplement, but you will have to answer some health-related questions. The insurance company can accept or decline you based on your answers.

Some people are confused by this because they believe the Annual Drug Election Period in the fall is a time when they can change their supplement without underwriting. Unfortunately, the autumn election period only applies to drug plans and Medicare Advantage plans.  Changing Medigap carriers will require underwriting in most cases.

What is the Best Medicare supplemental plan?

Medicare Supplemental Plan F is currently the plan with the highest level of coverage. It pays for all of your Medicare cost-sharing, leaving you with no out-of-pocket on covered services.

Medicare Supplemental Plan G is the next most comprehensive plan. It works exactly like Plan F except that you pay for the Part B deductible once per year. Your premiums will be lower though, and sometimes this creates annual savings.

However, each plan is different and it’s important to see which one best fits your preferences.

Since there are several standardized plans available to you in each state, you will want to think carefully about which one fits your needs the best.

For a more specific look at standard NY rates for different Supplement plans, view our rate sheet below. Click on ‘details’ to see a complete llist of what each plan exactly covers.