Is Medigap Right For You? If you’re approaching your 65th birthday or considering switching to Medicare, you may be feeling overwhelmed. By the complex world of healthcare coverage. By understanding the basics of Medicare and Medigap, you can feel confident in making informed decisions about your healthcare needs.
That’s where Medigap comes in. Medigap plans, or Medicare Supplement Insurance, play a crucial role in filling the gaps left by Original Medicare coverage. These gaps include deductibles, coinsurance, and copayments that can add up to significant out-of-pocket expenses.
There are several different types of Medigap plans to choose from, each offering different levels of coverage and benefits. Plans are labeled A through N, and each plan offers different levels of coverage.
In the past, Plan F was the most comprehensive Medigap plan, covering all out-of-pocket costs. Effective January 1, 2020, new Medicare beneficiaries are no longer eligible to enroll in Plan F.
Luckily, Plan G is a great alternative to Plan F, offering similar benefits at a lower cost. Plan G covers everything that Plan F covers, except for the Part B deductible, which is $226 as of 2023.
To make an informed decision about purchasing a Medigap plan, it’s essential to carefully evaluate your options and consult with a licensed insurance agent. A licensed agent can help you understand your options and choose a plan that fits your individual healthcare needs and budget (CONTACT US).