the basics of medicare supplements
Here’s an easy way to think of a Medicare Supplement. Picture it as a card that sort of bolts onto the back of your Original Medicare. It serves to pay for the costs that normally Medicare would pass on to you. Medicare has gaps, like coinsurance, copayments, and deductibles. You must pay for these when accessing medically-approved services.
What is a Medicare Supplement Plan F?
Medicare Supplement Plan F is one of the most popular Supplements in the nation. It pays 100% of the costs that Medicare would normally bill to you. This means that when you have Medicare Supplement Plan F, you will not pay any deductibles. You will pay no copays. Plan F will pay ALL of your share.
What is a Medicare Supplement Plan G?
Medicare Supplement Plan G has been gaining popularity in recent years. It functions exactly like Plan F, except for the Part B deductible. You agree to pay the Part B deductible each year, and after that, it pays everything else. The Part B deductible is $233 per year as of 2022. Quite often we can find Medicare Supplement Plan G premiums that save you more than $233/year. This means that you come out ahead in the long run.
What is Medicare Supplement Plan N?
Medicare Supplement Plan N is one of the newer Medigap plans. It was first offered in 2010. Plan N will usually have lower premiums than Plan F or Plan G. However you will do more cost-sharing along the way. You will pay a doctor copay up to $20 each time you see a doctor. Copays of up to $50 for an E.R. visit are owed by you.
