What is the best Medicare Supplement?
There are a lot of really good Medicare Supplements out there but we are focusing on the three most common plans: Plan F, Plan G and Plan N. Each have their own unique features. Plan F encompasses the most coverage, including Part B premiums. Plan G is similar to Plan F, minus the Part B deductible and Plan N is just one step down from Plan G.
Plan F
Plan F covers Part A, Part B, Blood Transfusion, Hospice Care, Skilled nursing facilities, Part A and Part B deductibles. Plan F also covers Part B excess charges and Foreign Emergency costs up to 80%. Between this coverage and Part A and Part B, you’re set and should not need anything else, with the exception of a dental/vision plan and a Part D plan.
Plan G
Plan G covers Part A, Part B, Blood Transfusion, and Hospice Care. In addition, Plan G covers a skilled nursing facility, Part A deductible, Part B excess charges and up to 80% of foreign emergency coverage. Much like Plan F and every other Medicare Supplement, you will need a separate dental and vision plan, plus part D coverage.
Plan N
Plan N covers Part A, Part B, Blood Transfusion, and Hospice Care. Plan N also covers a skilled nursing facility. Part A deductible and up to 80% of foreign emergency coverage. In addition to the Part D perception drug plan, you’ll need a dental and vision plan
All Medicare Supplement plans require a Part D prescription drug plan. You can actually be penalized for not having a plan. Talk to your agent about Part D and what not having coverage could do to you.
In addition to the above plans, Medicare has many other options, including Medicare advantage plans. These plans tend to be less upfront cost but have higher deductibles and copays. Contact your agent for details.