Best Medicare Supplement Plans for 2023
Medicare Supplement insurance, also known as Medigap, covers expenses that Medicare enrollees incur after the federal government pays its share of health insurance benefits. The lettered plans are standardized from state to state. However, Wisconsin, Massachusetts, and Minnesota do not sell these standardized plans.
Traditionally, the most popular Medicare Supplement insurance plans were Plans C and F because of the broad coverage. But Plans C and F are no longer available for Medicare enrollees whose eligibility began on Jan. 1, 2020.
Plan G and Plan N are now the two most popular Medigap plans.
1. Best Comprehensive Coverage: Medigap Plan G
Medicare Supplement insurance Plan G offers the most comprehensive coverage but is also the most expensive Medigap insurance policy for policyholders newer to Medicare.
Plan G offers almost identical health insurance benefits as Plan F. However, it does not pay for your Part B deductible. Federal guidelines now prohibit Medigap plans from covering the Part B deductible of $226 in 2023.
Here’s the overview of Plan G:
- Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used (100 percent)
- Medicare Part B coinsurance and copayment (100 percent)
- Blood (first three pints) (100 percent)
- Part A hospice care coinsurance or copayment (100 percent)
- Skilled nursing facility care coinsurance (100 percent)
- Part A deductible (100 percent)
- Part B excess charges, what you owe over Medicare allowable amount (100 percent)
- Foreign travel emergency (80 percent)
Because of its broad coverage, Plan G has one of the most expensive monthly premiums.
Here is a snapshot:
65-Year Old Female non-smoker, zip code 80231
Plan G: $132 - $198 per month
2. Best Value: Medigap Plan N
Medigap Plan N offers similar health insurance coverage to Plan G. Plan N does not include Part B excess charge coverage. This means the Medicare beneficiary would be responsible for covering fees healthcare providers charge above the Medicare allowable amount.
Also, Plan N pays 100 percent of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in inpatient admission.
65-Year Old Female non-smoker, zip code 80231
Plan N: $88 - $135 per month
3. Best for Cheapest Premiums: High Deductible Plan G
High Deductible Medigap plan G requires Medicare beneficiaries to pay hefty upfront costs before Medicare kicks in to pay for services. The perk is a lower monthly premium.
However, once enrollees meet the deductible of $2,700, they would not have to pay any more Medicare allowable expenses except for the monthly premium.
High deductible Plan G has the same benefits as a traditional Plan G. With a high-deductible Plan G, an enrollee will pay all deductibles, copays, and coinsurance until costs reach the amount of the high deductible.
Here are the average high deductible Plan G premiums for a nonsmoking, 65-year-old woman.
- $44 in the 28205 zip code in Charlotte, NC
- $55 in the 80231 zip code in Denver, CO
4. Best Overall Medicare Supplement Pre-2020: Medigap Plan F
For Medicare beneficiaries who became eligible for the program before Jan. 1, 2020, Medigap Plan F offers the broadest coverage. Plans F and C are the only plans that cover the Part B deductible, which is $226 in 2023.
The monthly Plan F premium average for a 65-year-old female nonsmoker:
- $159 in the 28205 zip code in Charlotte, NC
- $178 in the 80231 zip code in Denver, CO
Ready to Learn More?
We help educate Medicare beneficiaries on their Medigap options and help them go through the process of reviewing and comparing plans. We work with some of the nation's top-rated Medigap carriers. So give us a call today, or request a quote online to learn more about Aetna Medicare Supplement plan G and Mutual of Omaha Medicare Supplement plan G in your state.
United Health Group has the most significant number of Medicare Supplemental insurance policyholders in the U.S., covering 43 million people in all 50 states and most U.S. territories.
Yes, you can change at any time, but if you do not have a guaranteed issue circumstance or are outside of your Medigap Open Enrollment Period, in that case, you can be denied coverage if your health conditions cannot pass the underwriting process.
You can’t be denied Medigap coverage if you sign up during your Medigap open enrollment period. This period starts the first month you have Medicare Part B (medical insurance) and are 65 or older. After that, guaranteed issues laws do not apply, and you could be denied a policy based on the state of your health.
Your plan covers Foreign travel emergency care if you have Medigap Plan C, D, F, G, H, M, or N.
Medicare Supplement Plan G is often the most popular and cost-effective Medicare Supplement plan available.
Please note that the average quotes provided are for demonstration purposes only. Your actual premiums will be determined based on several factors such as your health conditions, age, location, tobacco status, gender, and insurance provider.
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