People who enroll in Medicare after Jan. 1st 2020 will not be able to purchase plan C or F however, folks who enrolled in Medicare Part A prior to Jan. 1st 2020 will still be able to buy plans C and F.
ALL standardized Medigap plans will increase in price over time. There are several driving factors that affect the rates. Your Medicare supplement rate can increase with your age, inflation, the insurance companies internal reasons (claims, cost of doing business, etc), or a combination of all three.
Deciding when to buy a Medicare supplemental insurance policy is a very important decision. If you wait until it’s too late you never be able to buy a Medigap plan if you have health issues. It is very important to be aware of when your enrollment period is for Medicare supplement insurance.
Medicare Supplement Plan G (also referred to as the “value plan”) has become the most popular Medigap plan among our clients. It is very similar to plan F, with the exception that the Medicare Part B deductible is not covered. After the deductible, Plan G provides full coverage for copays, coinsurance, the Part A hospital deductible and the 20% that Part B does not cover.
Medicare alone is confusing enough, to make things even more confusing there are plans that supplement your original Medicare. There are two type of plans to choose from, Medicare Advantage plans and Medicare supplement plans. To understand what type of plan is better for you we will first cover the basics: