The Best Medicare Supplement

The question that I am constantly asked during the course of a consultation on Medicare is ‘which is the best plan?’  My answer to the question of the best Medicare supplement is always the same.  It all depends.  Each person is different.  Needs are different.  Perception of reality is different.  If you ask my wife, which is better—two piece or one piece swim suit?  Her opinion will differ greatly from mine.

Best Medicare SupplementWhen it comes to Medicare, the first fork in the road is a choice between Medicare Advantage or Original Medicare and a supplement.  Once someone makes that first choice, the second fork in the road is between Medicare supplements.  There are potentially ten possibilities—Plan A—N.

Plan F has been the most popular plan among the bunch.  Because of that, some would say that Plan F is the best Medicare supplement, even though it is the most expensive.  Its appeal, however, is convenience and a sense of security.  With a Medicare Supplement Plan F, there are no co-pays, deductibles, or co-insurance.  You don’t have to worry about maximum out of pocket expense.  You plop down your red, white, and blue Medicare card, your Plan F card, and you’re done.  The bills may make Medicare and the insurance company cringe, but no matter.  You are covered 100% for the services that Medicare covers.  For that sense of complete, comprehensive coverage and convenience of payment, Plan F’s are the most expensive among the various insurance companies.

Plan F’s are expense for other reasons as well.  As medical expenses go up, so do Medicare supplement premiums.  You can almost count on an annual rate increase from the insurance company, especially for a Plan F.  Why is that?  Because people on Plan F use their benefits frequently.  Whether they go to the doctor no times or fifty times a year, the price is still the same.  Whether they go to the hospital zero times or a hundred times, the price is still the same.  No co-pays.  Just the same monthly premium.  Consequently member over-use increases cost, which is reflected in regular rate increases.

The Best Medicare SupplementPlan G, however, has a small deductible.  You pay the first $147 on Part B expenses, such as doctors’ visits, outpatient procedures, emergency room visits, etc.  After you pay the first $147, then the Plan G is like a Plan F.  Everything is covered.  The two benefits of a Plan G are 1) the premium for Plan G’s is lower, even with the deductible factored in, 2) the rate increases are smaller and less frequent.  Plan G people tend to not over use their benefits as much as Plan F folks.  A great deal is being written on this Plan G topic right now.  It is very arguable that Plan G is the best Medicare supplement.

Which is the best?  It all depends on you.  I tell my wife I would rather see her in a two piece bikini.  That is the best for me, and that is final!

What Our Clients Are Saying About Omaha Insurance Solutions

Lisa G

Thank you Christopher!
You made the whole process of choosing a Medicare supplement easy and less confusing.
I appreciate your knowledge and professionalism. You are a great asset to all of us “young at heart” clients!
I will give your name and number to my eligible Medicare friends.
Thanks again,

Cheryl A.

After I acknowledged that I was nearing Medicare age, I realized I knew nothing about it so I reached out to two very informed friends. They both recommended Chris Grimmond. They praised his knowledge and helpfulness so I gave him a call. After meeting with Chris, I was 100% convinced that we would be working together. He answered all my questions and helped me understand the Medicare system. I feel confident I made the right decision to work with Chris and his team at Omaha Insurance Solutions.

Steve S.

When it came time for me to enroll in Medicare, I had no idea what the process was or what types of coverage to expect. Christopher at Omaha Insurance Solutions took care of all of those questions and alleviated any anxiety with the process. His patience is outstanding and is outdone only by his knowledge of the products he represents. His services cost nothing, and he advocated for the best plan to fit my specific needs. I highly recommend Omaha Insurance Solutions when looking for answers to Medicare questions.