If you’re looking for the best Medigap 2016 options online then you have come to the right place! Our website helps take the confusion out of Medicare and Medigap insurance. Our goal is to help educate you and provide you with REAL Medigap 2016 online quotes from the top companies in your area.
Many websites provide a little bit of knowledge but their real goal is to just collect your data to sell it multiple times to agents. They claim you’ll get quotes after you enter all of your information, but often they never do! We’ll show you real-time quotes for the most popular plans so you can see how much money you can actually save.
*Please keep in mind not every state is available on our quoting system, however we are updating it continually!
Comparing the different Medigap Plans
Some Medicare subscribers may not be aware that Medigap insurance is not offered at a set price. That’s why comparing rates from several companies is so important, as they provide information on how much you could pay for a supplement plan. But those prices can vary greatly for the exact same coverage from company-to-company!
In fact, each carrier is allowed to set their own prices. Medicare may tell them what coverage they are supposed to offer, but it doesn’t tell them how much to charge for that coverage. This is because they all have different risk pools and operating costs for payment of claims. Monthly premiums and future rate increases are based on these costs.
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A Plan G is a Plan G
Now you don’t have to worry about getting the right coverage from carriers that charge bottom dollar. They still have to offer the same coverage within each letter plan as everyone else does.
But the rates they charge can vary quite a bit. It will serve your financial situation well to look for the lowest prices you can find. And our website’s free quote generator tool can help you in this endeavor. We offer up-to-the moment quotes that reflect relevant carriers in your area. You don’t have to waste time calling up carriers and hoping that they offer decent prices and that they are making their plans available to you.
Popular Medigap 2016 Plans
The actual benefits and Plans are not scheduled to change in 2016. We expect the same trend to continue in terms of what the most popular plans will be. It is likely that more people who have Medigap Plan F will be looking closely at changing to Plan G in 2016, and for good reason. Plan G almost always saves you money over Plan F.
An Important Change in Medicare for 2016
One change that will only slightly affect many people going into 2016 is that the annual Part B deductible amount for Medicare has changed. In 2015 this amount was $147 and it has now gone to $166 for 2016.
For those on Medicare Supplement Plan F this won’t matter much as Plan F pays this deductible for you (In reality YOU pay this deductible in the form of higher premiums which is why we never suggest Plan F!). But for people on Plan G or Plan N, just know that you must pay the first $166 of your medical bills in 2016 before your plan will pay 100% of all Medicare-approved expenses.
Medigap Plan F
Plan F continues to be the most popular of all the Medigap plans for 2016. It provides 100 percent coverage of the gaps in both Part A and Part B Medicare. This means you will receive no medical bills for any Medicare-approved expenses. This is definitely one of the most popular Medicare Supplement Plans for 2016.
Plan F Pays:
- The Part A hospital deductible
- The annual Part B deductible
- All Coinsurance up to a maximum amount of days in the hospital
- Part B coinsurance of 20 percent
- Skilled nursing facility coverage up to 100 days
There are no co-pays for doctor’s visits either with Plan F.
As mentioned however, you should absolutely get the rates for Medigap Plan G in 2016 and compare the benefits, because Plan G is nearly identical to Plan F but costs less!
Medigap Plan G
The only difference between Plan F and G is who pays the annual Part B deductible. In 2014 and 2015 this deductible was $147. The 2016 amount has not been released yet but it should be close to that.
Plan F vs. Plan G in 2016
So if we know that the only thing Plan F does that Plan G doesn’t is pay a once-per-year deductible of $147, then the only way Plan F is worth it is if it costs $147 or less per year.
But Plan F is almost always more than $147 per year! Which means you’re giving the insurance company extra money (beyond the $147), to pay the deductible for you. That’s like handing over your wallet and saying “Please take out $147 cash and pay that bill for me, and keep another $20-80 per month just for doing that for me.”
Then Why Do People Sign Up for Medigap Plan F?
There are a few reasons why there are so many people on Plan F. One of the reasons is agents take the easy way out and just tell people that Plan F is the best because it’s the most comprehensive plan Medicare offers.
Well, it is the most comprehensive Medigap 2016 Plan offered by Medicare, so they get that part right. But that doesn’t mean it’s the best! Especially if you look at the example above and realize agents are actually doing you a disservice by not showing you Plan G and the rates for it!
You are more than capable of writing a check for $147 yourself and don’t need to pay an insurance carrier extra money to do it for you. Using our FREE online quote engine at the top of this page you can easily see how much you can save with Medigap Plan G in 2016.
How Plans are Rated
Also keep in mind that not every carrier offers all the plans, so it is definitely easier to tell us which plan you are looking for and have us provide Medicare supplement quotes from carriers that offer that plan.
When you are looking for the plan you want, you may want to keep in mind that carriers may price their own plans in a few different ways. Many of them provide options to Medicare subscribers to help them get the rates that work best for them. Premiums can be based on what everyone else is paying in the area or what your age is when you started on the plan. Or the rates can change over time.
With an attained age premium, the rates will change with your age. They start out reasonably low, but they can become substantially higher as you age and as inflation affects the rates. You are not guaranteed a fixed rate by any means.
If you want a fixed rate, then you will need to go with a plan that has an issue age premium. This gives you a flat rate based on how old you were when you signed up for the plan. The starting rate will be different based on how old you are when you start. For example, someone at age 65 would have to pay a lower starting rate than someone who signs up at age 75.
And with a community premium, your rate is based on the set rate for your area. Everyone in that community pays the same rate, regardless of their age or health. This rate can increase over time, but it will increase for everyone at the same rate.
For Medigap 2016 Rates and Quotes keep checking back. We will have our Quote engine up soon to help you save the most money possible!
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