Oregon Medigap Plans
Private insurance companies offer Medigap plans, also called Medicare Supplements, to help you pay for costs not covered under Original Medicare (Part A and Part B). Most Supplement plans are standard, which means that insurance companies offer the same benefit plan in each category across the board. For example, Plan F will have the same benefits across most insurance companies.
However, there are three plans that appear to be the most popular because of the coverage they provide. These plans include Plans F, Plan G, and Plan N.
Features of Plan F, Plan G and Plan N
Medicare Supplement Plans F provides the most comprehensive coverage and covers the following:
- Medicare Part A hospital coinsurance up to 365 days after the end of Medicare benefits
- Medicare Part A hospice care coinsurance and copayments
- Medicare Part B copayments and coinsurance
- First three pints of blood
- Nursing facility care coinsurance
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part B excess charges
- Foreign travel emergency coverage of up to 80%
While Plans G and N are considered as good alternatives to Plan F, they do not offer as much coverage.
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Plan N and Plan G
Plan N does not cover the Part B deductible or Part B excess charges. These plans may also have you pay a $20 copayment for office visits and up to $50 for an emergency room copay.
Plan G covers everything that Plan F does, except for the Part B deductible.
Plan F vs Plan G vs Plan N
Plan F offers the most benefits and is also one of the more expensive options. However, it is not available to everyone. This plan is only available to those who were eligible for Medicare before January 1, 2020. For those not eligible for Plan F, Plans G and N are typically seen as good alternatives for anyone needing comprehensive coverage.
Also, unlike Plan N, Plans F and G have high deductible options. With the high deductible option, you will be paying a much lower premium. These high deductible plans also provide the same coverage as their traditional counterparts, but you must meet the deductible first.
As of 2021, this high deductible amount is $2,370.
Which Medicare Supplement Plan Should I Buy?
Before enrolling in a Medicare Supplement Plan, it’s important that you understand your healthcare needs and your budget. By working with Scott Sims Insurance, though, we can help make this decision-making process much easier so choosing a plan is like a walk in the park.
For a free consultation, call us at (541) 915-0939 to learn more about Medicare supplement plans.