There are 12 different standardized plans in most states. The Federal Government standardized these plans and created 12 options for consumers: A, B, C, D, F, G, K, L, M, N, HD-G, HD-F. Each plan covers a different range of costs. Plan F and Plan G offer high deductible plans too. In Massachusetts, Minnesota, and Wisconsin, Medigap policies are standardized in a different way.
What does this mean to you? Because the plans are standardized, you need to be sure that you are getting the best priced plan in your area. You can shop multiple insurance carriers for the best rate. Once you determine which plan is best for you, always compare plan pricing. One other consideration is the insurance companies financial rating. There are many companies that have an A or B+ rating. Always ask what the company is rated.
The table shows the Standardized Medicare Supplement (Medigap) Plans Chart
Benefit chart compares Medicare Supplement (Medigap) plans sold on or after January 1, 2020
Note: A ✓ means 100% of benefit is paid with the exception of foreign travel. Foreign travel is covered 80%.
1 Plans F and G have a high deductible option that requires you to pay a plan deductible before the plan begins to pay. Once the plan deductible is met, the plan pays 100% of covered services for the rest of the calendar year. The deductible in 2020 is $2340.
2 Plan N pays 100% of Part B co-insurance, except for a co-payment of up to $20 for some doctor office visits and up to $50 for the emergency room.
3 Plans K and L pay 100% of covered services for the rest of the calendar year once you meet the out-of-pocket yearly limit.
Learn More: Which Medigap Plan Should I Choose?
Medigap Cost Comparison: Medigap Plan N Cost