Medicare Supplement Monthly Rates By Plan: Fill & Download for Free

The MOST important thing at stake here is whether or not freedom is important to you.The 2nd most important issue is predictability.You have total provider freedom on a Medigap policy (among doctors and hospitals that accept Medicare). You also have the freedom to travel throughout the U.S. as long as you want (Medicare Advantage plans restrict your travel to 6 months). You cannot receive standard care outside your county on Medicare Advantage, either - only Urgent Care or Emergency services).If you value this freedom, you might think twice, because if you choose Medicare Advantage when you first become eligible for Medicare, after a one year trial on Medicare Advantage, you may possibly never again qualify for a Medigap policy (if you develop a disqualifying health condition).I would never suggest someone opt for a Medicare Advantage plan without clarifying the above, first. Anything short of that is irresponsible.Most people love Medicare Advantage plans while they are healthy. But as soon as they get sick, and start seeing unpredictable costs (like 20% for chemotherapy & radiation), or even worse, restrictions on providers they didn't foresee when they first joined, they start to really hate the program and then blame Medicare.Most people I speak with that are already on Medicare had NO idea they would have to answer health questions down the road if they wanted to switch to a Medigap policy. Why doesn't anyone talk about this? Is it because the agent commissions for Medicare Advantage are so high?Medicare Advantage plans change every year, and most people don't read the Annual Notice of Changes letter they receive each fall.Your low costs now may not always be so low.As long as you are FULLY aware of these restrictions, and would still rather enroll in a Medicare Advantage plan, then at least you're making an informed decision.You might consider a Plan G or N as alternatives.Make sure to fact-check everything you read, for yourself.For example, one of the answers to this question is referring to the Part B deductible** as $147, which makes me wonder, since it's already April 2016, and the deductible has been $166 since January, how would an agent not know this? (**Part B Deductible is now $203 in 2021).Also, I'd never recommend Plan F since it's being discontinued in 2020. This will leave you potentially stuck in a plan with a sicker and sicker risk pool, and steeply climbing premiums down the road. It would be irresponsible for any agent to sell a plan F at this point, unless you're in a state that allows you to shop for a lower rate on your birthday, such as California.In summary, you must ask yourself what healthcare situation you will want in the future when you really need the most care. Do you value provider freedom and predictable copays over time? Once you've answered that question, and if you've decided you don't mind the risks associated with Medicare Advantage, then you can research individual plan costs and go from there.(Upvote if you found this helpful!)

Medicare often gets a bad rap because of the amount of tax dollars that are spent on the program. In 2015, that number was somewhere around $646 billion according to the Centers for Medicare & Medicaid Services (CMS).But without Medicare, what would we be left with? There are over 46 million Americans age 65 and over and that number will only continue to swell as the Baby Boomer generation enters retirement age. And in addition to the sheer size of this population, one must also consider the increasing health care needs that come along with aging. Without Medicare (and largely without employer-sponsored health insurance), the 65 and over population would be forced to rely on private health insurance purchased through the marketplace. That being said, consider:While $646 billion is certainly nothing to scoff at, the amount of health care spending on Americans 65 and over would likely be considerably higher without Medicare. After all, in the same link above, the CMS reports the amount of private health insurance spending in 2015 to top $1 trillion.Medicare is not only costing Americans less than private health insurance, that cost is also increasing at a slower rate. According to the Kaiser Foundation, Medicare per capita spending increased just 1.3 percent annually from 2010 to 2016 while per capita spending of private health insurance increased 3.5 percent during the same time.In many cases, Medicare beneficiaries may be able to obtain better coverage than those enrolled in private health insurance plans of similar pricing. While Original Medicare by itself leaves some gaps in coverage that you may not experience with private insurance, many Medicare patients take advantage of Medicare Supplement Insurance which helps pay for some of these gaps. Most people receive Part A of Medicare without having to pay a premium and the Part B premium is just $134 per month in 2017. Considering health insurance premiums generally increase with age, $134 per month for Original Medicare is more than competitive. Add on a Medicare Supplement Insurance plan and your monthly premiums may be less than a private insurance plan with comparable coverage. With many people age 65 and over living off of social security and limited retirement funds, Medicare provides an affordable option for the health care they are sure to need at their age.Medicare is accepted by more than nine out of every 10 doctors in America, making it easy for patients to receive the treatment they need. Original Medicare and Medicare Supplement Insurance beneficiaries are not restricted by the network system used by private insurance plans.Does Medicare have its shortcomings? Sure. But when discussing why Medicare might be “bad for America” you must also consider the alternative option and envision the health care our nation’s senior population would be faced with if not for Medicare. When you do so, it makes it easier to see why Medicare isn’t so bad after all.

Medicare Supplement plans do not include Part D. Prescription drug coverage must be purchased separately when you buy a Medicare Supplement.The national average monthly bid amount for Medicare Part D (which is the average of standardized bids from all plans in the US) for 2019 is $51.27. The average Part D beneficiary premium for Part D will be $33.19.Medigap Plan Average Monthly Premiums (from www.healthmarkets.com) for the standardized supplemental plans (total 11 plans including high deductible version of Plan F) are:A $360B $449C. $347D $299F $326F (High Deductible) $68G $290K $129L $236M $361N $210So as a rough estimate, $300 is the medical premium for Medicare Supplemental coverage and $33 is the Part D premium. This is in addition to the Medicare Part B premium.For most people, the Medicare Part B premium will be $135.50 in 2019.You cannot be charged a higher premium or denied coverage because of a preexisting condition if you apply during a guaranteed issue period of 6 months beginning your 65th birthday and enrollment in Medicare Part B. However, if you get a policy, the carrier CAN impose a waiting period before they will cover your pre-existing condition.If you are wondering about all options to make up for what Medicare does not pay (not just supplemental plans), there are also Medicare Advantage plans. Also called Medicare Part C, they can offer coverage from $0 monthly premiums including Part D benefits, all the way up to about $300 per month. You still have to pay for Part B to get these plans, but 46% of people enrolled pay $0 per month premium. Source: Centers for Medicare & Medicaid Services - (Medicare Advantage premiums continue to decline while plan choices and benefits increase in 2019)For Medicare C plans, the company/provider must provide all services that Medicare would, and they are not allowed to charge members more than what Original Medicare would charge for covered services. Many pay the Medicare deductibles. Most of these plans offer more covered services than what you would get with Medicare alone - like routine vision care, even dental coverage and fitness club memberships.Medicare C plans enter a contract with the Centers for Medicare and Medicaid Services to administer a beneficiary’s Medicare benefits. The plan rates and benefits must be approved by Medicare, and because they are using your Medicare money/benefits, they cannot turn anyone away for a pre-existing condition except for End Stage Renal Disease (ESRD - total kidney failure).There is usually a direct inverse correlation between how rich the Part C benefits are and how narrow the plan’s provider network is. A plan with very rich benefits can only offer those by contracting with certain providers to care for their plan members. If a Medicare C plan has a very large network, or will let you use any Medicare provider, it generally will not pay as much as it will for when you use participating/contracted providers.If you are are concerned about a Part C plan not being able to give you good coverage or service for a low price, Medicare rates the plans for quality from 1 to 5 stars. Here is a link to US News coverage of the highest rated plans:https://health.usnews.com/health-news/best-medicare-plans/best-insurance-companies-for-medicare-advantage-plansYou can also go to Medicare.gov: the official U.S. government site for Medicare and use the plan finder tool to look at plans in your area.if you have doctors you like, don’t assume that they don’t take Medicare Advantage. Ask the doctor or office manager what Medicare plans they work with.If all of this sounds too expensive, people should call 1-800-MEDICARE and ask if they are eligible for programs called “Extra Help” to assist with premiums.