Since 2010, we’ve seen people buy more Medigap plans every quarter and that’s still true for the first quarter of this year. In fact, there has been a sizable increase already in 2013. So, why are people turning to Medigap coverage in greater numbers?
Maybe, we can tell by looking at the coverage these plans offer. Our most popular plan has been and continues to be the standard Medigap Plan F. It’s easy to see why. That’s the plan with the most benefits. If that makes it too pricey for your budget, we can check to see if the high-deductible version is available in your state.
How to Get the Same Benefits at a Lower Premium
That version gives you the same coverage after you’ve met the $2,110 deductible in 2013. It’s the deductible that translates into lower premiums. With this Plan F, you know how much you need to budget and you still have access to all of the standard Plan F benefits.
And, I know of a couple of Medigap plans with coverage quite similar to that of Plan F. Take a look at the coverage at www.MedigapAdvisors.com/medigap-plan-benefits-grid.htm. You’ll see Plan C and Plan G benefits are pretty close to the comprehensive Plan F coverage.
How to Keep a Lid on Your Out-of-pocket Costs
Another option for you may be Medigap Plan L or Plan K. That’s because they do more than fill in Medicare’s cracks in coverage – they limit your annual out-of-pocket costs for Medicare services.
This a good option if you want to be sure you can keep your health-care costs down to a certain limit every year, not including premiums. Plan L has the lowest cap at $2,330. Plan K caps out-of-pocket costs at $4,660. Of course, you can expect lower premiums for Plan K, but that brings up another way I can help you.
How to Find the Lowest Cost for Coverage
Even though you see standardized coverage for Medigap plans, you won’t see standardized premiums. That’s why MediGap Advisors helps you compare coverage from the leading insurance companies. You have to compare prices to get the best value.
As you can see at www.MedigapAdvisors.com/medicare-supplemental-insurance-plans.php, we can help you with Medigap Plans from Aflac, Blue Cross Blue Shield, Gerber, Harvard Pilgrim, Humana, Loyal American, Mutual of Omaha, UnitedHealthcare and others. And, if that sounds challenging, we’ll do the research for you and present you with the top options available in your state.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.