Affordable Medigap Plans - The Best Medigap plan for Your Budget

FamilyElderly Care

  • Author Wiley Long
  • Published September 12, 2010
  • Word count 406

Affordable Medigap Insurance - How to find the best Medigap plan for your budget

Are you worried that Medicare isn't going to cover all of your medical bills, but just not sure that you can afford Medicare Supplement insurance? Just how expensive is Medigap insurance? What choice do you have in Medicare Supplement plans? Are there any affordable Medigap plans?

With 10 different types of Medicare Supplement insurance plans, you can find affordable Medigap plans that stick to basic minimum coverage and even "budget conscious" plans with more benefits. The key is to just buy the the coverage you need without paying for additional benefits you really won't use. The two newest plans, Medigap Plans M and N were designed to keep premiums low.

Plan M keeps premiums low by only paying for half of Medicare's Part A deductible on hospital care. If you're unlikely to have to go to the hospital, you won't have to pay that deductible anyway. On the other hand, if you could need hospitalization at any time, Plan N will pay the entire Part A deductible. It keeps premiums low by not covering Part B's $155 deductible, and co-pays to see doctors or go to the emergency room. These are just a couple of the affordable Medigap plans.

If you're really pretty healthy and just want basic minimal coverage, Plans A and B are the most affordable Medigap plans. When Medicare Part B pays for 80 percent of doctor services, Plan A picks up the remaining 20 percent. It also takes care of any charges for blood that Medicare doesn't cover. When Part A moves from full to partial coverage after 60 days of hospital care, Plan A picks up the portion Medicare no longer covers, and the total Medicare reimbursement amount for an additional 365 days per lifetime.

Other affordable Medigap plans (such as Plans B, F, J, K and L) include the same benefits as Plan A plus various combinations of benefits. One version of Plans F and J keep premiums low with a high $2,000 deductible. Plans K and L have low premiums because they don't cover all of Medicare's Part B co-insurance and co-pays. After you meet a deductible, both plans pay for 100 percent of Part B's co-insurance, co-pay and deductible amounts for the rest of the calendar year.

For a free comprehensive, easy-to-read guide to Medicare supplements visit www.MyMedigapReport.com or call 1-866-681-7712 and ask for your free copy today.

Wiley Long has served in the health insurance industry since 1988 and is currently president of Medigap Advisors, the nation's leading online Medicare supplemental insurance agency. Living in Fort Collins, Colorado, Wiley is a music lover, skiier and dedicated father as well as an industry leader, providing solutions for thousands of clients seeking assistance with their Medicare supplemental insurance needs. You can reach Wiley at 866-681-7712 or by visiting www.MedigapAdvisors.com

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