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Introduction:
Medicare Supplement insurance, commonly known as Medigap, plays a vital role in providing additional coverage for individuals already enrolled in Medicare Part A and Part B. In this article, we'll delve into the important aspects of Medigap plans and aim to demystify the complexities surrounding them. By understanding the standardized nature of these plans, their coverage options, and how to compare prices effectively, you can make informed decisions about your healthcare coverage while optimizing costs.

Medigap: The Basics:
To begin, it's important to clarify that Medigap plans are designed to work alongside original Medicare, offering supplementary coverage for the gaps left by Part A and Part B. These plans are ideal for those who have chosen Original Medicare over Medicare Advantage (Part C) plans or managed care options. Many individuals opt for Medigap policies, as they provide standardized coverage regardless of the insurance company offering them. Original Medicare + Medigap allows one to see the doctor of their choice vs having to use the network of a Part C managed care plan.

Standardization of Medigap Plans:
In 1990, the National Association of Insurance Commissioners standardized Medigap plans to simplify comparisons and alleviate confusion among seniors. The plans were named alphabetically, ranging from Plan A to Plan N. Although not in strict alphabetical order, these plans offer various combinations of nine key variables, allowing beneficiaries to choose the coverage that best suits their needs.

Standardized Medigap Plans by Letter:
Let's explore the coverage provided by some commonly selected Medigap plans:

Plan A: This plan offers the most basic coverage, including Medicare co-insurance, Part B co-insurance, the first three pints of blood, and hospice care. It covers what Medicare Part A and Part B do not cover.
Plan G: Considered one of the most popular plans, Plan G covers all the gaps left by Medicare Part A and Part B, except for the Part B deductible. This leaves an out-of-pocket expense of $226 per year for the deductible.
Plan N: Plan N provides coverage similar to Plan G, with a few exceptions. It does not cover Part B excess charges and has some co-pays for certain services. Plan N is often chosen by those looking to save on monthly premiums while still receiving adequate coverage.
High Deductible G: Some individuals accustomed to having a high deductible opt for the High Deductible G plan. With a deductible of $2,700, this plan offers coverage once out-of-pocket expenses (excluding Medicare expenses) reach the deductible amount. Premiums are much less.
Understanding Standardization Exceptions:
It's worth noting that Massachusetts, Minnesota, and Wisconsin have their own standardized Medigap plans, differing from the traditional A to N plans. If you reside in any of these states, it is advisable to seek information at www.CardinalGuide.com.

Comparing Medigap Plans:
To ensure you secure the best coverage and rates, it is wise to explore various insurance companies offering Medigap plans. Cardinal Advisors provides a free online Medicare supplement price comparison tool that allows you to view plan options from multiple companies without having to disclose personal information. CardinalGuide.com. By comparing prices for a specific plan in your ZIP code, you can make an informed decision based on your preferences and budget.

Questions? Email us at [email protected], call us at (919) 535-8261, or visit our website at https://cardinalguide.com/


H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska 100118081, Arizona 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Maine AGN249408, Maryland 100048542, Massachusetts 2006645, Michigan 0104206, Minnesota 40411912, Mississippi 15016382, Missouri 8325733, Montana 100126008, Nebraska 100224332, Nevada 1007341, New Hampshire 2315847, New Jersey 1557889, New Mexico 1800010640, New York 1382342, North Carolina 1000092550, North Dakota 2000136230, Ohio 1028975, Oklahoma 100190853, Oregon 100237062, Pennsylvania 589318, Rhode Island 2309277, South Carolina 1907911784, South Dakota 10017719, Tennessee 2252224, Texas 1963111, Utah 513447, Vermont 1038574, Virginia 129027, Washington 864498, West Virginia 100107166, Wisconsin 100192273, Wyoming 275179