6 Tips to Help You Shop And Compare Medigap Plans

Enrolling in the best Medigap plan for your needs can be a critical step in maximizing your out-of-pocket Medicare savings.

But how do you get there? Below we walk you through the steps to shopping and comparing Medigap (also called Medicare Supplement insurance) plans to help you arrive at the best coverage for you.

FYI - The Medicare Annual Enrollment Period (AEP) is happening right now! This only happens one time a year from October 15 to December 7th and allows Medicare beneficiaries to change or switch their Medicare coverage. While you can apply for a Medicare Supplement plan year-round, including during AEP, certain coverage changes can only be made during AEP, like switching from a Medicare Advantage plan back to Original Medicare.*

Visit MedicareSupplement.com today for a free, no-obligation comparison of Medigap plans near you or to discuss your Annual Enrollment Period options. You can also call 855-508-0919 to speak with a licensed insurance agent who can help you find a plan that works for you.

1. Determine which benefits are most important to you

Medicare Supplement Insurance, or Medigap, provides coverage for Original Medicare (Medicare Parts A and B) out-of-pocket expenses like deductibles, copayments and coinsurance.

There are 10 standardized Medigap plans available in most states, and each one pays for a unique combination of Medicare costs. The first step in your journey should be to determine which of these coverage areas are most important to you.

For example, certain plans provide coverage for emergency care received outside of the United States. If you plan to do a lot of world traveling during retirement, this particular benefit may be of interest to you. If you don’t anticipate leaving the country, you could just as easily do without this benefit.

Start by referencing a Medigap plan chart that lists all of the various coverage areas included in each type of standardized plan. Decide which of these coverage areas are most important to you or the ones you anticipate using the most. This can help narrow down which Medigap plans may be best aligned with your individual needs.

You can also take our plan recommendation quiz! All you have to do is answer 5 quick questions and we’ll recommend a plan for you to consider.

2. Find out which plans are available where you live

While Medigap plans can be used all over the U.S. with any provider who accepts Medicare patients, you are only allowed to enroll in a plan that is sold in the area in which you live. And there’s no guarantee that each of the 10 standardized Medigap plans will be offered in your county.

Visit MedicareSupplement.com today to compare plans available in your area for free, with no obligation to enroll. Or call 855-508-0919 to have a licensed insurance agent look up available plans over the phone - all you need is your ZIP code to get started.

3. Compare costs

Some of the things that can affect the cost of a Medigap plan include your age, location, when you apply and any discounts that a particular Medicare Supplement insurance company offers where you live.

Determine how much room you have in your budget for Medicare Supplement Insurance and compare that against the costs of your available plan options. You may be able to eliminate a plan solely because it falls out of your price range. Curious what affects Medicare Supplement plan rates? Our MedicareSupplement.com expert and licensed insurance agent, Christian Worstell, explains just that in this video.

It’s also important to consider the pricing method used by each insurance carrier. Insurers will typically use one of three systems to factor your age into your premium.

• Issue-age-rated. These premiums are based on your age at the time of enrollment with younger enrollees generally paying a lower premium.
• Attained-age-rated. These premiums are based on your current age, meaning your premium will go up each year as you age.
• Community-rated. These premiums do not take your age into account.

Insurance companies can offer discounts for Medigap beneficiaries. Some insurance companies may offer discounts for beneficiaries who are non-smokers, purchase a second policy for another member of their household, pay their premiums by direct withdrawal and for other reasons.

Visit MedicareSupplement.com to learn more or call 855-508-0919 to speak with a licensed insurance agent for help with any Medigap plan discounts that may be available in your area.

4. Consider the carrier

The plan itself is not the only important part of your selection. You should also consider the quality of the insurance carrier that is providing it.

Due your due diligence and research company ratings and reviews to make sure the insurance plan is one you can trust and will feel comfortable doing business with.

5. Medigap Plan G: Traditional or high-deductible?

An increasingly popular Medigap plan for new beneficiaries is Medigap Plan G. But Plan G actually comes in two different versions. One is the standard Plan G, while the other is a high-deductible option.

With the high-deductible version of Plan G, you will pay a lower monthly premium in exchange for having to meet an annual deductible before the plan begins to offer any coverage. The amount of that deductible in 2023 is $2,700.

If you’re like many Medicare beneficiaries who determine that Plan G is your best choice and both versions of the plan are available where you live, you will then need to decide if you prefer the higher premium and immediate coverage of the standard Plan G or the lower premium and delayed coverage of the high-deductible version.

Is Medigap Plan G right for you? This plan recommendation quiz can help you decide. Answer a few questions and see which plan may be the best fit for your needs.

6. A Medicare licensed insurance agent can help

Medicare and Medigap can be confusing, and there’s a lot to understand about these types of insurance. Reaching out to a live Medicare licensed insurance agent at 855-508-0919 is a great way to learn.

And don’t forget that the Medicare Annual Enrollment Period is currently happening! You can enroll in a Medicare Supplement plan at any time, including during AEP.

Get in touch with an agent today to confirm your eligibility, find out your next enrollment period and ask any questions you may have about Medicare or Medicare Supplement Insurance. The 1,500 agents with MedicareSupplement.com are all U.S.-based, and bilingual support is available if needed.

*If you are enrolled in a Medicare Advantage or MA-PD plan and want to enroll in a Medicare Supplement insurance plan, you must switch from your current plan into Original Medicare, which you can do during the Medicare Annual Enrollment Period.

MedicareSupplement.com is owned and operated by TZ Insurance Solutions LLC. Copyright © TZ Insurance Solutions LLC. All rights reserved.

This is a solicitation of insurance. Plan availability varies by carrier and location. Callers will be directed to a licensed insurance agent with TZ Insurance Solutions LLS who can provide more information about Medicare Supplement Insurance plans offered by one or several insurance carrier(s). TZ Insurance Solutions LLC and the licensed agents that may call you are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website. This is not a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE (TTY users should call 1-844-486-3578), 24 hours a day/7 days a week or consult www.medicare.gov.