Which Medigap Plans Are Most Affordable?Medigap premiums vary based on the location, provider, and beneficiary, but Medigap Plan N is one of the more affordable options available. There are some cheaper options, but Plan N covers coinsurance, copayments, and the Medicare Part A deductible. Show
Since Medigap plans are federally regulated, Plan N from one insurer will offer you the same coverage as Plan N from any other. The primary differences in providers will be extra benefits, pricing, and customer service. In our research, the following providers offered the best Medigap policies for low-income seniors. Pro Tip: If you want to learn more about a wide range of Medigap plans regardless of cost, then check out my choices for this year’s best Medigap plans. How We Chose the Most Affordable Medigap PlansNo matter which company you choose, your Medigap policy will offer the same coverage. Each private insurance provider, however, has its own idiosyncrasies that will ultimately affect your decision. Here’s what I looked for when choosing the most affordable Medigap plans:
The Best Medicare Supplement Plans for Low-Income SeniorsHumana - Best overall plansWhat We Like Most:
Humana offers one of the best Medigap Plan N options, with affordable premiums and helpful extra benefits. In addition to Medigap Plan N’s coverage — which will be the same, regardless of the provider — policyholders will receive discounts on hearing health, prescription medications, vision services, and fitness clubs. Humana also provides a 24-hour nurse advice line to help answer non-emergency medical questions. A Medigap Plan N from Humana would cost a 70-year-old nonsmoking woman about $190 per month, but the actual amount will vary by age, gender, and location. To learn more about Humana, read our guide to Humana Medicare Supplement Insurance, as well as our guide to Humana Medicare Advantage. Pros
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Anthem - Prescription SavingsWhat We Like Most:
Anthem offers one of the most compelling Medigap Plan N options. As well as providing additional coverage for coinsurance and copays, Anthem offers an array of extra benefits to all of its Medigap policyholders. Anthem Medicare Supplement plan members will receive reimbursement for gym memberships, as well as discounts on prescription medications and hearing and vision services. The discounts will not provide the same coverage as an Anthem Medicare Advantage plan, but they will certainly help you cut back on costs beyond the normal inclusions of a Medigap Plan N. Anthem Medigap plans are also relatively affordable. A 70-year-old woman living in Nevada can expect to pay about $120 per month in premiums for an Anthem Plan N. To learn more about this provider, read our full guide to Anthem Medigap plans. Pros
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Cigna - Coverage for Pre-Existing ConditionsWhat We Like Most:
Cigna, one of my favorite insurance providers, offers an affordable range of Medigap plans in 31 states. Its Medigap Plan N offers an affordable way to cover some of the costs that Original Medicare doesn’t. A 70-year-old nonsmoking woman from Dallas, for example, could expect to pay $108.70 per month for a Medigap Plan N premium. The price can drop 7 percent if more than one person in the same household enrolls in a Cigna Medigap plan. You’ll also receive a 5 percent discount for signing up online. Cigna includes extra perks with its Medigap policies. Users can take part in the Cigna Healthy Rewards plan, which provides discounts on home-delivered meals, free trials on home fitness classes, and savings on podiatry services. Cigna also gives subscribers access to its 24-hour Health Information Line. To get started with Cigna, check out the company’s website, where you can enter your personal information, receive a free quote, and explore other Medigap options. Pros
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Aetna - Widest Range of CoverageWhat We Like Most:
Aetna is another great option for an affordable Medigap policy. It offers plans, including a budget-friendly Plan N, in just about every state. That same 70-year-old nonsmoking woman from Dallas could expect to pay $96.54 for her Plan N monthly premium, making Aetna one of the most affordable providers on this list. Aetna also offers discounted rates for multiple subscribers in the same household, so it’s a great option for spouse coverage. One of my favorite things about Aetna is that it has no network restrictions, which means your Aetna Medigap plan can be used with any doctor who accepts Medicare. To learn more about Aetna Medicare supplemental insurance, look at the company’s website, where you can see the policies and get an instant quote by typing in your birthdate and the intended date of your coverage start. Pros
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Mutual of Omaha Medigap Plans - Best Customer ServiceWhat We Like Most:
One of the oldest and most trusted insurers in the United States, Mutual of Omaha offers three Medigap plans that can help you offset the costs left over by Medicare. It’s also the only provider on this list to service all 50 states. For that 70-year-old nonsmoking woman from Dallas, a Medigap Plan N policy would cost $103.15 per month. If she has a roommate or spouse who also signs up with Mutual of Omaha, her premium would be lowered by 12 percent to $90.77. As a bonus, with Mutual of Omaha’s Mutually Well program, Medigap enrollees can receive fitness rebates and discounts on healthy-living products and hearing aids from Amplifon. To get started with Mutual of Omaha, check out the company’s website, where you can learn more about its three policies and benefits, and obtain a free quote in a matter of minutes. Pros
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State Farm Medicare Supplement Insurance - Best Bundled Discounts
What We Like Most:
Founded in 1922, State Farm is widely known as a solid choice for auto insurance. What many people don’t know, however, is that it also offers Medicare supplemental insurance, and you can save money if you purchase multiple insurance policies. Our hypothetical 70-year-old nonsmoking woman in Dallas could expect to pay $131.92 for her Plan N monthly premium. She can also earn discounts for purchasing auto or additional health insurance through State Farm. State Farm Medigap plans can also be used with any health-care providers that accept Medicare. Visit State Farm’s website to get a quick and free quote for different Medigap policies. I’d also recommend calling a local State Farm agent, since they’ll be able to advise you on which additional discounts you may qualify for. Pros
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AARP Medicare - Best Educational ToolsWhat We Like Most:
AARP Medigap plans, offered through UnitedHealthcare, give seniors some peace of mind when planning out their medical budgets. If you’re a current AARP member, then a policy through UnitedHealthcare can provide significant savings. A 70-year-old nonsmoking woman in Dallas would pay about $115.91 per month for a Medigap plan N. You should also factor in that these policies are available only to AARP members, and the membership costs $16 per year. Where AARP Medigap really excels is in its range of educational tools. On its website, you can find an instant quote tool and detailed comparisons of what’s included in each of its plans. AARP’s website even breaks it down into the actual dollar amount you’ll be covered for various expenses, such as coinsurance and travel insurance. Pros
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Why Medigap Plan N Is Ideal for Low-Income SeniorsIn 2019, the average yearly income for Americans over 65 was $47,357. Between housing, entertainment, and medical costs, many people are on a budget and don’t want to add further burden through a Medigap policy. Medigap, after all, is designed to help you save, so I recommend people look into Medigap Plan N. Its exact price will vary by provider and policyholder, but Medigap Plan N is often one of the more affordable options. Most importantly, it covers coinsurance, copayments, and even your Medicare Part A deductible. Here’s a full list of what Medigap Plan N includes: Medigap Plan N Coverage
What is the best Medicare Supplement for seniors?Medicare Supplement Plan G is the best overall plan that provides the most coverage for seniors and Medicare enrollees. Plan G will cover almost everything except the Part B deductible.
Which Medicare Supplement plan has the highest level of coverage?With Medicare Supplement Plan F, you get the most complete coverage available. First, it includes all the benefits of Medicare Supplement Plans A, B and C. In addition, Plan F provides coverage for skilled nursing facility care, Medicare Part A and B deductibles, and international travel medical emergency help.
Who is the best Medicare Supplement provider?Best Medicare Supplement Companies for 2022. AARP / United Health Group. PLUSES. ... . Mutual of Omaha. PLUSES. ... . CVS/Aetna. PLUSES. ... . Anthem Blue Cross Blue Shield. PLUSES. ... . Healthcare Services Corp. PLUSES. ... . CIGNA. PLUSES. ... . CNO Financial (Resource Life Insurance Co.) PLUSES. ... . Wellmark. PLUSES.. What is the best health insurance for seniors over 70?Best Health Insurance for Retirees and Seniors. Best overall: Medicare.. Best if you have a low income: Medicaid.. Best Medicare Advantage: Kaiser Permanente.. Best Medicare Supplement: Plan G from AARP/UnitedHealthcare.. Best prescription drug plan: Humana.. Best if you're under 65: Blue Cross Blue Shield.. |
Best supplemental health insurance for seniors with medicare
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