Medigap plans (Medicare Supplement Insurance Policies) are more popular than ever. The standardization of the benefits of the different Medigap plans
One of the significant factors that affect the popularity of the plans is their availability (which can vary from state to state). Different factors motivate and inspire a recipient to select a plan. It could be low premium, comfort level with a particular brand, coverage level, or some other set of combinations of elements.
And the winner of the most popular Medigap Plans is…
Medigap Plan F remains the first choice for most Americans. In fact, as many as 57%, if be Medigap Plan policyholders, prefer it over others.
The popularity of Plan F is because of the comprehensive Insurance
Apart from Plan F, Plan G is becoming popular as well. These two plans offer more coverage than other popular options. Both cover the co-pays, co-insurance, and Part A deductibles. The difference is that Plan G doesn't cover the Part B deductible, which in 2018 is only $187.
The overall coverage of the Medicare deductibles and co-insurance that these plans offer remains a major attraction.
It's my experience that after Plan F, Plan G, and Plan N are the most popular Medigap plans. Some states include Plan C, but because it doesn't cover excess doctor fees, and in San Diego where I live, the premiums are pretty comparable, I tend to shy away from recommending it.
What's the Medigap Plan that Nobody Wants?
The least popular Plan K and Plan L. These plans don't cover as much as the others, and you must pay a percentage of the costs up to a stated maximum. Because many people like a more definite approximation of what their expenses will be, I don't see a lot of these policies in California.
Although Plan F and Plan G are the most popular, many choose other plans because of low premiums. You'll want to see what is right for your given your needs.
How Should You Choose the Right Plan?
Of course, I'm biased because I personally help people choose a plan, but I believe that you should consult a qualified broker who works with all types of Medicare Plans, including Medigap, Medicare Advantage, and Prescription Drug Plans.
If you'd like to see what your options are, you can watch our free 20-minute video that explains the difference between Medicare Advantage and Medigap Plans. Just go to http://MedicareQuick.com/Class
And of course, we're always here to help as well.
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