How to Choose the Medicare Supplement Plan that makes most sense for me?

It’s important to know that you can only use a Medigap plan if you have Original Medicare. As of 2021, there are eight different Medicare Supplement plans sold to new beneficiaries: A, B, D, G, K, L, M, and N. Each Medicare Supplement plan must include the same benefits regardless of carrier and location. However, different types of Medicare Supplement plans offer different levels of coverage.

What Do Medicare Supplement Plans Cover?

Each Medigap plan covers basic benefits, such as:

• Coinsurance charges through Medicare Plan A (up to 365 days after Original Medicare benefits are spent).
  
• Hospice care copayments and coinsurance through Medicare Plan A.
• Copayments and coinsurance through Medicare Plan B.
• The first three pints of blood needed due to a medical procedure.

When Should I Buy Medicare Supplement Insurance?

It’s best to buy Medicare Supplement insurance within the first six months after you turn 65 and enroll in Medicare. During that time, you can buy any Medigap policy sold in your state, even if you have health problems. After this six-month period, you may not be able to enroll in a Medicare Supplement plan, or you may have to pay more due to pre-existing conditions or current health problems.