Which Medicare Supplement Plan Offers The Most Extensive Geographic Coverage?

Medigap plans, also known as Medicare Supplement Insurance, are insurance plans that work alongside Medicare Part A and Part B benefits and help pay for some of the out-of-pocket costs of Medicare. In 2024, there are 12 different Medicare Supplement (Medigap) plans available to most Medicare enrollees, with 10 being standard Medigap options and two being high-deductible plans. Plan F is the most popular Medicare Supplement plan due to its coverage of more out-of-pocket Medicare costs than any other Medigap plan type.

Medigap plans, also known as Medicare Supplement Insurance, are optional plans you can add to your Medicare coverage to help pay for some of the out-of-pocket costs of Medicare. NerdWallet’s picks for the top five companies for Medicare Supplement plans in 2024 include BCBS, Mutual of Omaha, and Aetna. Plans C, F, and G offer the most supplemental coverage, paying many of your out-of-pocket costs for Medicare-approved services.

Plan F is the most comprehensive Medicare Supplement plan as it covers all gaps in Medicare. Plan G has been one of our most popular plans and offers the broadest coverage for most people. It will pay for out-of-pocket costs that Original Medicare‡ does not. When comparing Medigap plans, it is important to contact the insurance company for a more accurate price.

Memorial Advantage plans usually have more benefits than original Medicare, such as dental and vision coverage. The Medicare supplement (Medigap) plan moves with you wherever you live in the U.S., but moving out of the plan’s area can cause loss. CareFirst currently offers Medicare Supplement coverage to residents of all of Maryland and Washington D.C.

What is the most expensive Medicare plan?

Medicare Supplement plans, also known as Medigap, are a way for Original Medicare beneficiaries to reduce out-of-pocket costs like co-pays, deductibles, and coinsurance. There are up to 10 Medicare supplement plans, each identified by a letter, and benefits for each letter plan are standardized in most states. The lowest cost of Medicare Supplement insurance is during the six-month Medigap open enrollment period, as insurance companies are not allowed to use medical underwriting to determine premiums.

However, costs can vary widely depending on the plan chosen, the company you choose, and your location. To understand the costs and benefits of different lettered Medigap plans, it is important to know what they cover. All Medicare supplement plans cover some or all of the following:

What’s the highest rated Medicare plan?

ValuePenguin has ranked the best Medicare Advantage plans based on average rates, coverage, network size, and customer satisfaction. The top overall plan is Humana, with perks like AARP/UHC and AARP/UHC. BCBS is the easiest to use plan at 46/month. Kaiser Permanente offers the best service at 7/month. Cigna is the cheapest plan at $6/month. However, some doctors and hospitals have reported issues with Medicare Advantage companies approving and paying for medical care, leading some to stop using them.

What are the top 5 Medicare Supplement plans?

The top five Medicare supplement plans for 2024 are AARP/UnitedHealthcare, Mutual of Omaha, State Farm, Anthem, and Blue Cross Blue Shield, based on their plan types, premiums, discounts, complaint rates, and nationwide availability. Medigap plans are standardized, meaning you can get the same Medicare benefits from any company offering the plan. Therefore, when shopping, consider these factors to find the best policy for your needs.

Which Medicare Supplement plan has the highest level of coverage?

Medicare Supplement Plan F offers comprehensive coverage, covering costs exceeding Medicare-approved amounts, ensuring no out-of-pocket costs for hospital and doctor’s office care. Humana is a Medicare Advantage HMO, PPO, and PFFS organization, as well as a stand-alone prescription drug plan with a Medicare contract. Enrollment in any Humana plan depends on contract renewal. Humana Inc. and its subsidiaries comply with Federal civil rights laws and do not discriminate based on race, color, national origin, age, disability, sex, sexual orientation, gender identity or expression, transgender status, marital status, military or veteran status, or religion. Humana also provides free language interpreter services and offers full accessibility rights information and language options.

Which is better, Plan F or Plan G?

Medigap Plan F and Medigap Plan G are the two most comprehensive Medicare Supplement Insurance plans. Plan F offers the most coverage but is not available to everyone, while Plan G covers nearly as much and is available for any Medicare member. Plan F covers more but is more expensive. If you qualify for Medigap Plan F, consider whether it’s worth the price increase over Plan G. Compare Medigap plans to decide the best option for you.

Which health plan tier has the highest premiums?

A Bronze plan offers the cheapest premiums but most out-of-pocket costs for health care. The insurance company pays 60, while the member pays 40. A Platinum plan has the highest premiums and lowest out-of-pocket costs, with the insurer covering 90 of care costs and the patient paying 10. The Platinum plan may not be the best choice for everyone, as it has the highest monthly premiums. The best option depends on the amount of healthcare needed in the coming year. Bronze plans have the lowest monthly premiums, saving money on monthly health insurance bills, especially if you rarely see doctors for anything other than annual physicals.

What is the largest Medicare Advantage plan?

UnitedHealthcare and Humana have consistently held a significant share of Medicare Advantage enrollment, with UnitedHealthcare having the largest growth since 2010, increasing from 20% to 29% in 2024. Humana also had a high share, but its growth was slower, from 16% in 2010 to 18% in 2024. BCBS plans’ share of enrollment has been more constant but has declined moderately since 2014. CVS Health, which purchased Aetna in 2018, has seen its share of enrollment double from 6% in 2010 to 12% in 2024.

Kaiser Permanente now accounts for 6% of total enrollment, a moderate decline since 2010. However, for insurers that have seen declines in their overall share of enrollment, the actual number of enrollees for each insurer is larger than it was in 2010. CVS Health had the largest growth in plan year enrollment, increasing by 758, 000 beneficiaries between March 2023 and March 2024. Humana had the second largest growth, with an increase of 472, 000 beneficiaries.

UnitedHealthcare plans had the third highest growth in plan year enrollment, increasing by 456, 000 beneficiaries for the first time in eight years. BCBS plans had the fourth largest growth, followed by Kaiser Permanente. Centene had fewer enrollees, with enrollment declining by about 202, 000 between March 2023 and March 2024.

Who is the largest Medicare Supplement provider?

AARP by UnitedHealthcare, a non-insurance company, has partnered with UnitedHealthcare, the largest insurer in the US, to offer Medigap coverage. The company covers over 43 million people in all 50 states and most U. S. territories, offering 10 types of Medigap plans. The policies can include additional benefits beyond what regulations require. AARP has an A+ Better Business Bureau rating and a TrustPilot average customer rating of 1. 3 out of 5 stars.

Is Medicare the largest health insurance program in the United States?

The Centers for Medicare and Medicaid Services (CMS) is the primary payer for healthcare in the United States.

What is the highest rated Medicare?

The Forbes Health Advisory Board has ranked the top Medicare Advantage plans for U. S. adults aged 65 and older. Blue Cross Blue Shield is ranked as the best consumer-reputation plan, followed by Humana for nationwide coverage, Aetna for local support services, UnitedHealthcare for the largest provider network, Cigna for additional benefits, and Anthem for overall CMS rating. The rankings are based on thorough research and guidance from the Forbes Health Advisory Board. Finding the best Medicare Advantage provider and plan can be complicated, as insurance providers offer thousands of different plans each year.

What is the difference between plan G and plan N?

Medigap Plan N represents a cost-effective alternative for those who prioritize the exchange of additional out-of-pocket expenses.