Of the 10 different Medicare Supplements plans (A, B, C, D, F, G, K, L, M, and N), A, B, K, and L have the lowest costs, Plans D, M, and N fall in the middle, and C, F, and G offer the most coverage.
Of all 10 Medicare plans, plan A has the smallest amount of coverage, and thus the lowest overall price. It covers:
While this is not as comprehensive as the other options, it is still extremely beneficial, and especially helpful to those working with a tight budget. Similarly, plan B is essentially the same, but with additional Part A deductible coverage.
Often overlooked are plans K and L. Plan K covers:
As you can see, this plan offers a wide variety of coverage, but at a lower percentage. With this plan, you will have half of all of these benefits covered, the other half coming out-of-pocket. Plan L offers coverage in all the same areas but at 75% rather than 50%. These plans are one of the best ways to lower your overall costs while still receiving coverage for a variety of benefits.
On the other side of things, you have the high-coverage options—plans C, F, and G. These are among the most popular supplements, as many Medicare beneficiaries desire as much coverage as possible. Plan C covers:
Plan G offers the same amount of coverage, but with Part B excess charge coverage instead of the Part B deductible. Plan F, being the overall most comprehensive option, offers both.
Plans D, M, and N fall somewhere in between the low-cost and high-coverage options. Plan D covers:
Plan N offers the exact same benefits as Plan D. However, you are responsible for paying any copayments out-of-pocket when you receive a benefit. With Plan D, these copayments are accounted for in your monthly premium.
The only difference between these and plan M is the Part A deductible—it covers 50% instead of 100%.
These comparisons are only the beginning. Your next step? Talk over your needs and options in your area with people who will give you honest advice and genuine help. To get started, call Schwenker Senior Insurance at 563-579-6116, or email us at jon@schwenkerins.com.
