In the past, most people would sign up for Medicare Supplement Plan F more often than any other. This once popular plan is no longer the top choice, though, and it is losing its popularity rapidly as a result of some new legislation. You may have heard of MACRA, which is a new act that seriously affects Medicare Supplements. For now, it restricts Plan F and who can sign up for it. Plan F and Plan C are now both part of what is called a closed risk pool where no new people can sign up for them. If you are someone who has never signed up for either of those plans, then they won’t be available to you for the 2020 Open Enrollment period. These two plans can only be renewed at this point, which severely limits who can buy them.
This also means that they will become very expensive, so you will want to seek out another plan instead, even if you have one of those two right now. Plan G will probably save you a lot more money, in most cases. Plan G is a high coverage plan that includes coverage for all that we listed here, as far as supplementary expenses, except for one item. It will not cover the $185 Part B deductible, but you may be better off not having that covered, since you usually pay more for its coverage than you do pay out of pocket for it.
Plan G is also getting a new version for 2020. That would be High Deductible Medicare Supplement Plan G, and it is going to be available soon. It differentiates itself from the regular Plan G by having a higher deductible, as you can tell, but a lower monthly premium. This is an economical version of the plan that will appeal to people who may not need all the coverage very often but like to have the peace of mind that a high coverage plan like this offers.
Plan N is another option for seniors that offers lots of coverage and an economical price point. It will cover the majority of the supplementary expenses as well, but it does ask that you take care of the Part B excess charges, the Part B deductible and two copayments that are fairly small ($20 and $50).
Check the prices on these plans on our site, and keep checking back, as the rates do change periodically. Once you sign up for a plan, the rates will not change, but until then, then insurers can alter the rates how they like. Our site shows you the rates as they currently are, with up-to-date information that is relevant to your area. The rates are different from one area of the country to the next, so keep that in mind and only use a price quote tool that factors in the zip code, like ours does.