What is the Best Supplement for Original Medicare?
If you anticipate needing a significant number of health care visits or care in a facility, you may want to think about adding a Medicare supplement and Part D drug plan to Part A and Part B.
Part B has an annual deductible of $183 for 2018. It also leaves you coinsurance in the amount of 20% of the cost of your medical fees. That 20% can really add up, especially if you are hospitalized or need to see health care providers frequently.
Fact: If you need ongoing therapy, your cost per healthcare visit can quickly add up to more than the cost of a supplemental insurance premium. To limit the impact of your 20% coinsurance, you can get either a privatized Medicare Advantage Plan or a Medicare Supplement Plan. See our page on Medicare Advantage Plans for more information on this type of insurance.
A Medicare Supplement Plan is not privatized. You get your benefits directly from Medicare instead of a private insurance company. There are several Medicare Supplement Insurance or Medigap Plans.
Plans G and F are similar. The difference between them is that G leaves you responsible for your Part B deductible while F does not. However, the premiums for F are more expensive than those for G in most states, except those that have a high deductible option for F.
Plan N is also popular. It pays most of the Part B coinsurance after the deductible, except for a $20 copay for some office visits and a $50 copay for Emergency Room visits that don’t lead to hospitalization.
Note: The plans are standardized; the pricing isn’t.
Since individual needs vary so much, state regulations concerning guaranteed issue vary, and prices for the different supplements depend on the company offering the plan, you should talk to an agent or specialist before the end of your open enrollment period.