Medicare does not always cover everything, which leaves beneficiaries to pay some of their own expenses. But Medicare Supplement plans fill those gaps. so then, which is the most comprehensive Medicare Supplement plan?
These plans are sold through private insurance companies. According to the Keiser Family Foundation, about 11 million people have bought them to help mitigate out-of-pocket healthcare expenses.
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When researching Medicare Supplement plans, there are several affordable options from which to choose. To find the best plan for your needs, keep reading to learn more about your options.
What You Should Know Before Choosing the Best Medicare Supplement Plan
There are eight different Medicare supplement plans that you can buy to supplement your Original Medicare. But first, you need to have Parts A and B of Original Medicare in order to purchase any type of plan.
All Medicare Supplement plans offer the same standardized benefits, but different types of policies have different coverage options. Medigap policies are guaranteed renewable and cannot be canceled by the insurance company for health reasons as long as your monthly premium is paid.
Basic coverages that all plans must carry are:
- Medicare Part A coinsurance charges (up to 365 days after Original Medicare benefits have exhausted)
- Hospice care coinsurance and copayments under Medicare Part A
- Original Medicare Part B coinsurance and copayments
- The first 3 pints of blood needed for a medical procedure
What Medicare Supplements do not cover:
- Retail prescription drugs
- Dental
- Hearing aids
- Vision services
- Long-term care services
- Private-duty nursing
Medicare Supplement Plan Comparison Chart 2022
Use this Medigap comparison chart to find the different coverages available in the standardized Medicare Supplement (Medigap) Plans:
ATTENTION: only applicants who became eligible for Orignal Medicare before January 1, 2020 can purchase a Medigap Plan C or F.
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Consider your Healthcare Needs and Your Budget
A lot of the time, seniors who begin shopping for the most comprehensive Medicare Supplement plan do not ask the right questions to determine which plan will likely be their best fit. Here are five of the most popular frequently asked questions to help you develop a short list for your consideration:
Since CMS no longer allows medicare supplement plans to cover the Medicare Part B deductible for anyone who became eligible for Medicare after Jan 1, 2020, Medigap Plans C and F are pretty much off the table. This rule makes Medigap Plan G the most comprehensive in terms of benefit coverage.
The short answer is none of them. No Medicare Supplement plan covers the gaps in Medicare Part D. You can, however, purchase a Medicare Supplement plan and Medicare Part D if prescription drug coverage is important to you.
In 2022, there are only two Medicare Supplement plans that have out-of-pocket limits:
Medicare Supplement Plan K – will cover 100% of healthcare expenses under Medicare Part A and B once the policyholder has spent $6,620 out-of-pocket (during the year).
Medicare Supplement Plan L – will cover 100% of healthcare expenses under Medicare Part A and B once the policyholder has spent $3,310 out-of-pocket (during the year).
NOTE: Medicare Supplement plans K and L pay the least amount of covered healthcare expenses until you’ve reached the out-of-pocket limit.
The Medicare Supplement plans that offer coverage for foreign travel medical emergencies is C, D, F, G, M, and N.
For 2022 Medigap plan cost averages, Medigap Plan K is the cheapest in terms of monthly premiums. Remember, when you sign up for a Medicare Supplement plan, the coverage is on top of Medicare Part A and Part B. Therefore, you must continue to make your Medicare Part B premiums every month.
Which is the Best Medicare Supplement Insurance Company?
There are many great life and health insurance companies that offer Medicare Supplement insurance. Most of them do a great job but like in any competitive industry, some stand out among the others.
Here are three of our “go-to” insurance companies for Medicare Supplement insurance:
Rates: Cheapest for Plan G with premiums averaging $150 per month
Available Plans: A, F, G, High Deductible G, and N
Financial Ratings: A.M. Best A+ – Moody’s A1 – S&P Global A+
Product Portfolio
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Seniors |
Life Insurance |
Ancillary Products |
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Term |
Long-Term Care |
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Prescription Drug Plans |
Whole Life |
Disability Income |
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Dental Insurance |
Universal Life |
Critical Illness Insurance |
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Final Expense Insurance |
Accidental Death Insurance |
Cancer, Heart, Stroke Ins. |
Rates: Extremely competitive with all plans offered
Available Plans: A, B, C, D, F, G, and K
Financial Ratings: Rated “A” by A.M. Best
Product Portfolio:
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Seniors |
Health Insurance |
Ancillary |
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ACA Health Plans |
Dental Plans |
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Prescription Drug Plans |
Group Health Plans |
Vision Plans |
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Medicaid |
Student Health Plans |
Supplemental Plans |
Accendo is the result of a partnership formed between Aetna and CVS to offer Medicare Supplement plans supported by outstanding customer service and delivering competitive prices.
With a reduction in prices, while still delivering excellent results, it is the best of both worlds, making it a great choice for budget-conscious individuals.
Rates: Very Competitive
Available Plans: A. B, F, G, and N
Financial Ratings: A.M. Best “A”
Product Portfolio: Medicare Supplement Insurance (Medigap)
How do I pick a Comprehensive Medicare Supplement Plan?
Although at first glance, selecting a Medicare Supplement plan that is right for you may seem daunting. With so many companies and plans to choose from, many seniors feel frustrated trying to find the best plan at affordable prices.
We recommend using this article and the FAQs provided to develop a short list of companies and then call one of our insurance professionals to help you confirm your selection based on your circumstances and budget.
Have Questions?
We can Help!
Talk to one of our licensed Medicare supplement agents about the options available to you in your area.
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Sat available upon request
