Since its enactment in 1965, Medicare has made affordable health care accessible to nearly 58 million people. More and more people are becoming eligible for Medicare plans as a higher percentage of the baby boomer generation has begun crossing the 65 years age mark. In 2017, the total benefits payments made by original Medicare was approximately $709 billion, which is nearly equivalent to the gross domestic product of smaller countries such as Greece.

With benefits ranging from covering the cost of lab tests to paying for durable medical equipment such as nebulizers, kidney machines, and walkers, the original Medicare plan (comprising of Plan A and Plan B) covers only the essential medical costs. Moreover, there are limitations such as the restricted number of days for a hospital stay, and limited coverage for inpatient respite care and outpatient drugs for hospice care. The out-of-pocket cost can also be significantly higher with original Medicare plans. Medicare supplement plans are handy as they fill in the gap between health care coverage offered by original Medicare plans and the actual bill.

Medigap or Medicare supplement plans across all states (except Wisconsin, Massachusetts, and Minnesota) offer the same advantages as regulated by the government. However, the level of benefits provided by different policies (Plan A to N) vary. The cost of each plan also varies depending on the insurance company and the state. Take note that people are supposed to take a Medigap plan on top of an original Medicare healthcare plan. A person can pick a supplement plan based on how much coverage they need and how much they can afford to spend. Here are the top three Medicare supplement plans that have been rated quite well in 2018.

• Medicare Supplement Plan N : The most significant selling point of this supplement plan is its low premium. The premium is inexpensive as this plan has a small copayment for emergency room visits and some office visits. There are no copayments if an emergency room visit leads to an inpatient admission. In general cases under this plan, office visit copayment is approximately $20, while the copayment for emergency room visits is approximately $50. Additionally, Plan N covers the cost of deductibles required by the original Medicare Plan A. Moreover, this plan will give 100% coverage for skilled nursing care, if it is required for more than 20 days. One of the unique features of this Medicare supplement plan is that one gets coverage for emergency medical services even during foreign travel.
• Medicare Supplement Plan G : If one is looking for a more comprehensive coverage than what Plan N covers, Plan G is another well-recommended Medicare supplement plan. It covers all the benefits offered by Plan N such as foreign travel emergency care, Medicare Part A deductible, and skilled nursing care. However, a significant advantage of Plan G is that it does not need any copayments for emergency room visits or office visits. Moreover, Plan G provides coverage for the excess charges of Medicare Part B as well. Doctors can levy an excess fee of 15% above the amount approved by Medicare. Plan G will cover this additional charge. Without this supplement plan, a patient will have to pay this amount out of their pocket. Note that that Medicare Part G or Plan G does not cover deductibles of Medicare Part B.
• Medicare Supplement Plan F : What makes Plan F one of the most popular Medicare supplement plans is that it has one of the most affordable premiums despite a high deductible. This low premium, high deductible plan is known as Medicare supplement Plan F High Deductible. With this plan, a person has to pay all the out-of-pocket costs until they reach the annual deductible amount. The benefits will start once the plan’s deductible is met. It should be noted that the deductible amount is a bit high at approximately $2,300. However, a high deductible makes the monthly premium more affordable. Another option here is to opt for the low deductible-high premium Plan F. It includes all the benefits offered by Plan G, including coverage of Medicare Part B excess charges. Additionally, it also covers Medicare Plan B deductible. Thus, Plan F offers more security than any other Medicare supplement plans.

Having Medicare supplement plans is wise if the goal is to save on expensive medical bills. However, it should be noted that the cost and premium of these plans may differ across states and insurance providers. Moreover, costs rise as a person’s age increases. Thus, a 65-year-old will pay lesser for Plan G than a 75-year-old. Hence, it is necessary to do some research and check various insurance plans before zeroing in on any specific one. One of the best ways to avoid excess charges is to enroll for a plan during the six-month enrollment period after one turns 65. Thus, one is sure of getting low premiums, and it also guarantees that an application will not be rejected on medical grounds.