Best Medicare Supplement Plans 2024

Sep 23, 2023 | Medicare

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Unlocking Peace of Mind: Your Guide to the Best Medicare Supplement Plans

Picture this: You’ve spent a lifetime working hard, chasing dreams, and building a future. Now, as you embrace the golden years, one thing becomes abundantly clear — your health is your most precious asset. And in the world of healthcare, knowledge is power.

Are you ready to discover the key to unlocking a future where your health is protected, your finances are secure, and your peace of mind is unwavering? Join us on this expedition to find the “Best Medicare Supplement Plans” — your passport to a life well-lived.

Let’s Dive Deeper into the World of Medigap!🔍

Medicare Supplement Plans, also known as Medigap, are your secret weapon in the battle for comprehensive healthcare coverage. In this section, we’ll unravel the mysteries of Medigap, helping you understand how these plans work and why they’re a vital part of the healthcare puzzle.

What Are Medicare Supplement Plans? 🌟

Medigap plans are like the missing puzzle piece that perfectly fits into your Original Medicare coverage. Think of them as your personal health safety net. They are insurance policies sold by private companies, designed to fill the gaps left by Medicare Part A and Part B.

How Do They Work? 💡

When you have Original Medicare, it covers a significant portion of your healthcare expenses, but not everything. This is where Medigap swoops in to save the day. It covers co-payments, deductibles, and coinsurance, leaving you with minimal out-of-pocket costs. Plus, with most Medigap plans, you have the freedom to choose any doctor or specialist who accepts Medicare.

Why Choose a Medicare Supplement Plan? 🏆

The answer is simple: peace of mind. With a Medigap plan, you can say goodbye to the uncertainty of healthcare costs. No more worrying about unexpected medical bills derailing your financial plans. Medigap plans provide predictability and protection, ensuring that your health and savings are safeguarded.

The Benefits of Medigap 💪

Comprehensive Coverage: Medigap plans cover a wide range of services, from hospital stays to skilled nursing facility care, and more.

Freedom to Choose: Unlike some other Medicare options, you can see any doctor or specialist nationwide who accepts Medicare.

Predictable Costs: With Medigap, you know exactly what your healthcare expenses will be, making budgeting a breeze.

 

The Drawbacks of Medigap 🚫

Higher Premiums: Medigap plans often come with higher monthly premiums compared to Medicare Advantage plans.

No Prescription Drug Coverage: While it fills many gaps, it doesn’t cover prescription drugs. You’ll need to enroll in Medicare Part D for that.

Top Insurance Companies for Medicare Supplement Plans

When it comes to securing your healthcare future with a Medicare Supplement Plan, you want to partner with the best in the business. Here, we present a lineup of the top insurance companies that have consistently excelled in providing Medicare Supplement Plans, also known as Medigap, to beneficiaries across the United States.

bluecross

Blue Cross Blue Shield

✅Continue with Blue discount 3% on top of HH discount.

✅Financial Stability via A.M. Best Rating A

✅Many Plan Options, including Secure, Plus, and Standard

Our Pick for Best Medicare Supplement Plans
Our Pick for Best Medicare Supplement Plans
Mutual of Omaha Medicare Supplement

United of Omaha

✅A+ rating from A.M. Best in 2023

✅Competitive rates in most states in addition to 12% HH discount

✅Excellent customer service and digital ID cards upon policy issue

Humana Logo

Humana Achieve Medicare Supplement

✅A- A.M. Best Rating in 2023

✅Offers Dental, Vision, and Part D plans

Cigna

Cigna Medicare Supplement Plans

✅Offers discount for online enrollment.

✅Additional senior products offered like Final Expense, and Dental, Vision, Hearing plans.

Blue Cross Blue Shield

Blue Cross Blue Shield (BCBS) is a well-known name in the healthcare industry, and they offer Medigap plans in various states, including Illinois, Texas, Montana, Oklahoma, and New Mexico. BCBS is known for its financial stability and strong customer service. Note that Blue Cross Blue Shield of Illinois offers Guaranteed Issue Medicare Supplement all year long. Additionally BCBS offers a 3% discount on the monthly premium for clients who had BCBS coverage before joining the Blue Cross Medicare Supplement Plan.

Pros

✅Broad Network of Healthcare Provider

✅Financial Stability: AM best Rating A

✅Variety of Plan Options

Cons

❌Potentially Higher Premiums, for Guaranteed issue plans

❌Customer experience varies between different BCBS companies

Humana Medicare Supplement

Humana offers various Medigap plans, including Plans A, B, C, F, G, K, L, N, and high-deductible Plan F. Each of these plans provides different levels of coverage, but they all help fill the gaps in Original Medicare (Part A and Part B). This means you can enjoy a wide range of covered healthcare services, reducing your out-of-pocket expenses.  With Humana Medigap plans, you are not limited to a specific network of doctors or hospitals. You have the freedom to choose any healthcare provider who accepts Medicare patients, giving you more control over your healthcare decisions.

Pros

✅A- A.M Best Rating in 2023

✅Offers Discounts to Veterans and their families 

✅Offers dental, vision, and Part D plans

Cons

❌Variability in coverage. Not available in all states.

❌Higher customer complaints filed in 2023 compared to other plans.

Mutual of Omaha

Mutual of Omaha has a long-standing reputation for providing dependable insurance products, including Medigap plans. They offer a range of plan options and are known for their straightforward approach to customer service.

Pros

✅A+ rating from A.M. Best in 2023

✅Competitive rates and 12% household discount

✅Excellent customer service and digital ID cards upon policy issue.

Cons

❌Not all Medigap Plans are offered

❌Plans are not available in Massachusetts.

Aetna

Aetna Medicare Supplement plans offer a powerful combination of choice, stability, and peace of mind. With a reputation for financial strength and a wide range of plan options, Aetna provides seniors with the flexibility to select the coverage that aligns with their unique healthcare needs. Whether you’re seeking comprehensive coverage, lower out-of-pocket costs, or access to a broad network of healthcare professionals, Aetna’s Medigap plans can be your trusted partner in securing a healthier and more secure future.

Pros

✅Excellent customer rating

✅Offers Dental, Vision, Hearing plans

✅Discounts for additional plans and online application.

Cons

❌Doesn’t offer all types of Medicare Supplement Plans

❌Plans are not available in Massachusetts and New York.

Medicare Supplement Plans Ratings and Reviews

[dvmd_table_maker tbl_description_mode=”on” tbl_description_text=”The table above shows the ratings and reviews of each of the plans Medicare Supplement plans insurance companies in the USA as of 2023. These ratings may change quarterly, or annually based on the plan performance, and customer reviews. The ratings above is not a representation of CMS or Medicare program.” tbl_column_header_count=”0″ tbl_scrolling_active=”on” tbl_scrolling_col_sticky=”on” tbl_tcell_cell_color=”rgba(214,232,77,0.73)” tbl_tcell_cell_align_horz=”center” tbl_tcell_cell_align_vert=”center” tbl_chead_cell_color=”#000000″ tbl_chead_cell_align_horz=”center” tbl_chead_cell_align_vert=”center” tbl_rhead_cell_color=”rgba(245,245,245,0.55)” tbl_rhead_cell_align_horz=”left” tbl_rhead_cell_align_vert=”left” _builder_version=”4.22.1″ _module_preset=”default” tbl_description_font=”|300|||||||” tbl_description_font_size=”13px” tbl_tcell_text_text_color=”#000000″ tbl_tcell_text_font_size=”18px” tbl_chead_text_font_size=”1px” tbl_rhead_text_font=”|700|||||||” tbl_rhead_text_text_color=”#000000″ tbl_rhead_text_font_size=”16px” border_color_all_tbl_tcell_cell_border=”#000000″ border_style_all_tbl_tcell_cell_border=”groove” locked=”off” global_colors_info=”{}”][dvmd_table_maker_item col_label=”Company” col_content=”Company
AARP Medicare Supplement Insurance Plans, insured by United Healthcare Insurance Company of America
BCBS IL/TX/NM/OK
Cigna National Health Insurance Company
COUNTRY Life Insurance Company
Erie Family Life Insurance Company
Everence Association Inc
HEALTH ALLIANCE MEDICAL PLANS, INC.
Humana Insurance Company
Medico Life and Health Insurance Company
Mutual of Omaha Insurance Company
PEKIN LIFE INSURANCE COMPANY
PHYSICIANS LIFE INSURANCE COMPANY
State Farm Mutual Automobile Insurance Company
TRANSAMERICA LIFE INSURANCE COMPANY
UNITED AMERICAN INSURANCE COMPANY
United States Fire Insurance Company (A Crum & Forster Company)
USAA LIFE INSURANCE COMPANY
Wisconsin Physicians Service Insurance Corporation” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Established Year” col_content=”Established Year
2020
1966
2020
1978
2018
1992
2006
2004
2017
2012
1984
1970
1981
2005
1966
2020
1992
1984″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”AM Best Rating” col_content=”AM Best Rating
A
A
A
A+
A
n/a
B++
A-
A
A+
A-
A
A++
A
A
A
A++
n/a” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”AM Best Outlook” col_content=”AM Best Outlook
Positive
Stable
Stable
Stable
Stable
n/a
Negative
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
-” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”S&P Rating” col_content=”S&P Rating
AA-
AA-

A

n/a
n/a
A
n/a
n/a
N/A

AA
AA-
A+

AA+
n/a” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”HH Discount” col_content=”HH Disocunt
n/a
10.00%
6.00%
n/a
10.00%
n/a
7.00%
n/a
10.00%
12.00%
7.00%
n/a
n/a
n/a
n/a
7.00%
5.00%
7.00%” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][/dvmd_table_maker]

Compare Medigap plans side-by-side

[dvmd_table_maker tbl_column_header_count=”0″ tbl_scrolling_active=”on” tbl_scrolling_col_sticky=”on” tbl_tcell_cell_color=”#f5f5f5″ tbl_tcell_cell_align_horz=”center” tbl_tcell_cell_align_vert=”center” tbl_chead_cell_color=”#E02B20″ tbl_chead_cell_align_horz=”center” tbl_chead_cell_align_vert=”center” tbl_rhead_cell_color=”#0C71C3″ tbl_rhead_cell_align_horz=”left” tbl_rhead_cell_align_vert=”left” _builder_version=”4.22.1″ _module_preset=”default” tbl_tcell_text_text_color=”#000000″ tbl_tcell_text_font_size=”17px” tbl_chead_text_font_size=”1px” tbl_rhead_text_font=”|700|||||||” tbl_rhead_text_text_color=”#FFFFFF” tbl_rhead_text_font_size=”16px” border_color_all_tbl_tcell_cell_border=”#000000″ border_style_all_tbl_tcell_cell_border=”groove” global_colors_info=”{}”][dvmd_table_maker_item col_label=”Medigap Benefits” col_content=”Medigap Benefits
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
Part B coinsurance or copayment
Blood (first 3 pints)
Part A hospice care coinsurance or copayment
Skilled nursing facility care coinsurance
Part A deductible
Part B deductible
Part B excess charge If you have Original Medicare, and the amount a doctor or other health care provider is legally permitted to charge is higher than the Medicare-approved amount, the difference is called the excess charge.%22
Foreign travel exchange (up to plan limits)
Out-of-pocket limit**” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan F” col_content=”Plan F*
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
80%
N/A” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan G” col_content=”Plan G*
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
80%
N/A” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan K” col_content=”Plan K
Yes
50%
50%
50%
50%
50%
No
No
No
$6,940 for 2024″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan L” col_content=”Plan L
Yes
75%
75%
75%
75%
75%
No
No
No
$3,470 for 2024″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan M” col_content=”Plan M
Yes
Yes
Yes
Yes
Yes
50%
No
No
80%
N/A” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan N” col_content=”Plan N
Yes
Yes***
Yes
Yes
Yes
Yes
No
No
80%
N/A” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][/dvmd_table_maker]

* Plans F and G also offer a high-deductible plan in some states. With this option, you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount of $2,700 in 2024 before your policy pays anything.

[dvmd_table_maker tbl_title_mode=”on” tbl_title_text=”Plan G Details of Coverage and your Cost” tbl_description_mode=”on” tbl_description_text=”Plan G coverage with Part A and Part B. Medicare Plan G have the highest coverage Medicare Supplement for enrollees after January 1, 2020.” tbl_column_header_count=”0″ tbl_scrolling_active=”on” tbl_scrolling_col_sticky=”on” tbl_tcell_cell_color=”#f5f5f5″ tbl_tcell_cell_align_horz=”center” tbl_tcell_cell_align_vert=”center” tbl_chead_cell_color=”#E02B20″ tbl_chead_cell_align_horz=”center” tbl_chead_cell_align_vert=”center” tbl_rhead_cell_color=”rgba(252,149,105,0.43)” tbl_rhead_cell_align_horz=”left” tbl_rhead_cell_align_vert=”left” _builder_version=”4.22.1″ _module_preset=”default” tbl_tcell_text_text_color=”#000000″ tbl_tcell_text_font_size=”18px” tbl_chead_text_font_size=”1px” tbl_rhead_text_font=”|700|||||||” tbl_rhead_text_text_color=”#000000″ tbl_rhead_text_font_size=”17px” border_color_all_tbl_tcell_cell_border=”#000000″ border_style_all_tbl_tcell_cell_border=”groove” locked=”off” global_colors_info=”{}”][dvmd_table_maker_item col_label=”Services” col_content=”Services
Hospitalization First 60 Days
61st Through 90th Day
91st Day and After (60 Reserve Days)
After Reserve (Additional 365 Days)
Beyond the Additional 365 Days
SNF First 20 days
21st Through 100th Day
101st Day and After
First Three Pints Blood
Additional Amounts of Blood
1st $226 of Approved Amounts
Remained of Approved Amounts
Part B Excess Charge
Laboratory Services” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Medicare Pays” col_content=”Medicare Pays
All But $1600
All But $400 a Day
All But $800 a Day
$0
$0
All Approved Amounts
All But $200 a Day
$0
$0
100%
$0
Generally 80%
$0
100%” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Plan G Pays” col_content=”Plan G Pays
$1600 (Part A Deductible)
$400 a Day
$800 a Day
100% pf Eligible Expenses
$0
$0
Up to $200 a Day
$0
100%
$0
$0
Generally 20%
100%
$0″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][dvmd_table_maker_item col_label=”you Pay” col_content=”You Pay
$0
$0
$0
$0
All costs
$0
$0
All costs
$0
$0
$226 (Part B Deductible)
$0
$0
$0″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][/dvmd_table_maker_item][/dvmd_table_maker]

Key Features of Medicare Supplement Plan G:

  1. Part A Hospital Coinsurance and Costs: Plan G covers the coinsurance, copayments, and deductibles for Medicare Part A, including hospital stays, skilled nursing facility care, and hospice care.
  2. Part B Medical Expenses: It covers the coinsurance or copayment for Medicare Part B services, such as doctor visits, lab tests, and durable medical equipment.
  3. Blood: Plan G covers the first three pints of blood each year.
  4.  Part A Hospice Care Coinsurance or
  5. Copayment: It covers the coinsurance or copayment for hospice care under Medicare Part A.
  6. Skilled Nursing Facility Care
  7. Coinsurance: Plan G covers the coinsurance for skilled nursing facility care under Medicare Part A.
  8. Part A Deductible: It does not cover the Part A deductible, which is an annual amount beneficiaries must pay before Medicare coverage begins.

Medicare Advantage vs Medicare Supplement Plans

What are the differences?

Medicare Advantage, also known as Medicare Part C, is a type of private health insurance that replaces Original Medicare. It covers everything that Medicare Part A and Part B cover, and usually includes prescription drug coverage (Part D) as well. Some Medicare Advantage plans may also offer extra benefits, such as vision, hearing, dental, and fitness services. However, Medicare Advantage plans have restricted networks of providers, hospitals, and suppliers that you must use to get full coverage. You also have to pay a monthly premium for your plan in addition to your Part B premium. In 2023, the out-of-pocket maximum for Medicare Advantage plans may not exceed $8,300 for in-network services and $12,450 for combined out-of-network services.

Similarities

Both Medicare Advantage and Medicare Supplement are optional ways to enhance your Original Medicare coverage. You have to be enrolled in Medicare Part A and Part B to be eligible for either option. You also have to live in the service area of the plan you choose. Both options are regulated by the federal government and follow certain rules and standards. Both options are renewable as long as you pay your premiums and the plan is available in your area.

Pros of Medicare Advantage

  • You have more flexibility and choice in choosing your providers, hospitals, and suppliers.
  • You have more predictable and stable out-of-pocket costs.
  • You have coverage for some services that Original Medicare does not cover.
  • Your plan does not change its benefits or costs each year.

Cons of Medicare Advantage

  • You have to pay a separate premium for your plan and your Part D plan if you want drug coverage.
  • You may not get any extra benefits that Original Medicare does not offer.
  • You may pay higher premiums than Medicare Advantage plans.
  • You may not qualify for financial assistance to lower your costs if you have a low income.

Medicare Supplement Plan G [Infographic]:

Medicare Supplement Plans G infographic