What Are the Best Medicare Supplement Plans 2020
As 2020 approaches, seniors will want to think about what kind of medical coverage plan they should be signing up for. Once 2020 hits, they won’t be able to sign up for plans for that year. This has to be done in 2019, which is why we are covering now the best plans for the coming year. But what are the best Medicare supplement plans 2020 is offering? Let’s take a look.
This is a common question that we get here. We offer a way to compare plans and rates and offer these resources as a way for seniors to find great deals and choose the best plan and provider. We get asked this question and others like it pretty often, and we have developed an answer that is truthful but that you may not like.
The truth is that there isn’t a single best plan out of the 10 Supplement plans. There are a few that stand out to us as offering more value or being a better deal than the others. We certainly wouldn’t recommend Plan F to anyone, but we also cannot say that everywhen should sign up for the same plan.
We know that seniors all have different needs, which means that they need to pick a plan that fits those needs and not just follow trends or do what their friends did. That means that picking the right plan for each person is an individual process.
Let’s talk about why Plan F is a bad choice and what plans we consider to be the very best. We may not be able to tell you what plan to pick, but we can help narrow down your choices for you and give you some advice that may point you in the right direction.
The Plan F Restriction
First of all, let’s talk about what is different about Plan F. This used to be the most popular of all the Medicare Supplement plans. That’s not the case anymore, and that’s partially due to how it is restricted as a plan. Now, only people who have Plan F can continue to sign up for it. Anyone who is not a Plan F subscriber cannot sign up for it.
This is due to the way Plan F is often overpriced for what it is offering. It was seen a bad value plan (along with Plan C), and that prompted legislation to be created against it that limited it to only those who already have it. This legislation greatly restricts the signups for Plan F and is making the subscriber base dwindle considerably. Seniors are starting to realize that Plan F is part of a closed risk pool that limits who can sign up for it and causes the prices to spike dramatically. When someone asks us what are the best Medicare Supplement plans for 2020, we can easily say that Plan F is not among them. It’s simply getting too expensive and will continue to become very expensive as no new subscribers join up for it. The current subscribers have to bear all the weight of this plan’s costs now.
Which Plans Are the Best?
Once again, we want to reiterate that we cannot pick your plan for you. Only you know what kind of medical expenses you have to deal with and what kind of medical problems you are facing. It’s up to you to pick your plan and to decide on the best plan for your situation. That’s something that only you can do successfully.
However, we can offer you some advice that can help you to make the right decision and to be informed about your choices. We mainly want to say that Plan G and Plan N are worth considering for each and every senior who wants a Supplement plan.
If you are looking or Medicare supplements, then we have to assume that you need some extra coverage on top of your basic Medicare plan. This is what Supplement plans are for, and they do a great job of providing additional coverage. However, no Supplement plans can offer quite as much value for the dollar as Plan G and Plan N.
These are both high coverage plans, and they have a lot to offer seniors for the prices they are usually sold at. Plan G is the higher coverage of the two, and it covers all Supplement expenses except for one. That would be the cost of the Medicare Part B deductible, but you can probably pay for that cheaper out of your own pockets anyway. It’s just a $185 charge.
Plan G covers you for your deductible on Medicare Part A, as well as Medicare Part A coinsurance for hospice care, coinsurance for nursing, all of your copayments, Part B excess charges, foreign medical transport costs for emergencies and all of the blood that the Original Medicare plan does not cover. That would be three pints of blood.
If you didn’t know already, you are required to have an active Medicare plan in addition to any Supplement plan, as the Supplement plans cannot function without the base Medicare plan.
Plan N is quite similar to Plan G. It offers almost all the same coverage. It differs by asking you to pay the copayments for emergency room visits and doctor’s office visits, which are $50 and $20, respectively. It also does not cover the cost of the Medicare Part B excess charges. Like Plan G, Plan N will not cover the Part B deductible. All of these uncovered services or expenses are things that most people can cover for themselves without much trouble. The Part B excess charges tend to be a bit higher than the others, but they are uncommon, and you will probably never have to pay them, if you are like most people.
We have given you our picks for the best Supplement plans, and if you are still asking what are the best Medicare Supplement plans 2020 has to offer, then you should look closely at your own needs and closely at the plans that are on offer.