If you’re thinking about choosing the original Medicare for your Medicare coverage, acquiring a Medicare supplement plan as well, also known as Medigap insurance is a good idea if you can afford it, because it will help cover things that aren’t covered by Medicare such as copayments, coinsurance and deductibles.
Here is some good advice to help you choose the best Medicare supplement plan for your needs. Medigap policies, which are sold by private health insurance companies, come in 11 standardized benefit packages labeled as the letters A, B, C, D, F, G, K, L, M, N and HDF. Plan F is the most popular, followed by plan C because they provide the most complete coverage. Plans M and N, the two newest options, are cost-sharing plans that have lower premiums, making them desirable to healthier seniors who don’t use as much health care. Plan HDF is identical to a Plan F Medicare supplement with a $2,100 annual deductible and a much lower premium. If, however, you live in Massachusetts, Minnesota or Wisconsin, you have different standardized Medicare supplement plan options that you can choose from.
For more information on the different types of plans, call Direct to Consumer Insurance Services at 800-495-1915 and ask them to mail you a free report of the Medicare supplemental plans available in your area.