Best Medicare Supplement Plans 2018

With Medicare changing costs each year, most people are searching the Internet for the best Medicare Supplement plans 2018. Let’s take a brief look at some of the differences between the best Medicare Supplement plans 2018. 

As you may know, Medicare Supplement plans are standardized.  This means that a plan of a certain letter has the same benefits no matter which carrier you choose.  For example, a Plan F with one carrier has the same benefits as a Plan F with any other carrier. And although most plans, like Plan F and Plan G, offer similar basic benefits, some additional benefits may also be offered.

Plan N and High Deductible Plan F are a little different.  If you decide on a Plan N, you will pay up to $20 for a visit to the doctor and up to $50 for an emergency room visit.  You are also responsible for the $183 annual Part B deductible. If you decide on a High Deductible Plan F, then you will have a $2,240 deductible for 2018.  You have the flexibility to choose which plan best meets your specific needs.

Best Medicare Supplement Plans 2018

The most popular plans are Plan F and Plan G; however, Plan F will phase out in 2020 and new Medicare members will not be able to sign up for this plan. But, if you currently have Plan F, you can keep your plan. 

Best Medicare Supplements Plans 2018:

  • Plan F
  • Plan G
  • Plan N
  • High Deductible Plan F

Medicare Supplement plan benefits adjust with the changing Medicare costs. For example, when Medicare deductibles rise, Medicare Supplement plan benefits will increase to match those increases.

Please review our two top plans (Plan F & Plan G) in the chart below. You will see the NEW Medicare costs for 2018 along with the comparison of what Medicare will pay, what Plan F or G will pay, and what you will pay.  You can click the image to enlarge it.

Plan F & G Chart 2018

Finally, to view the best Medicare Supplement plans 2018 in your area, from a variety of carriers, please CLICK HERE. If you have any further questions, feel free to contact MWG Senior Services at 877-759-5760, or by email at seniorservices@morganwhite.com. Our advisors are always ready to assist you with any questions or concerns you may have!

Annual Enrollment Period

The Annual Enrollment Period is quickly approaching! Do you need help with your Prescription Drug Plan?

The Annual Enrollment Period:

Mid October through the first part of December is often referred to as “Open Enrollment Period” or “Annual Enrollment Period”. They go hand in hand, and here’s why.  During this time, you can not only make changes to your stand-alone drug plan, but you can also make changes to your Medicare Advantage plan (depending on which one you have).  We recommend having someone like us in your corner to assist you through these changes.  Our only requirement for this annual assistance is that you sign up with a Medicare Supplement or Medicare Advantage plan through our advisors.  If you do not currently have one of those plans through us, give us a call today and one of our advisors will be glad to help.  They can be reached at (877) 759-5760, option 1.    

The Annual Enrollment Period comes every year at the same time, beginning October 15th and ending December 7th.  Some clients are under the impression that the Annual Enrollment period is the only time you can change or get a Medicare Supplement.  This is not true. The good thing about Medicare Supplements is that you can change them anytime throughout the year.  This Annual Enrollment Period is only for making changes in a stand-alone prescription drug plan or a Medicare Advantage plan.

Part D Late Enrollment Penalty:

One very important thing to remember is, if you do not obtain a drug plan when you are first eligible, you could receive a late enrollment penalty which is assessed by the Centers for Medicare & Medicaid Services (CMS). The penalty is 1% for each month you go without drug coverage and will always be added to any drug plan or Medicare Advantage plan when you enroll. If you have employer coverage and are on Medicare, I encourage you to check with your employer’s human resource department to ensure the coverage that you have is considered creditable drug coverage.

How can our services benefit you?

The drug plans change every year, so you will need to review your plan annually to see what changes are approaching.  That’s where MWG Senior Services can help!  We offer a FREE service to all our Medicare Supplement and Medicare Advantage clients each year by helping to review your drug coverage to see what changes are being made for the upcoming year. The drug plans are so highly regulated and have so much information to take in, it is hard to know which way to go. We do all the work for you! Already have a supplement with someone else?  No problem!  Any of our advisors can help you look at supplemental options that could help you save some money!

Have questions or need help with your Medicare supplemental options Call MWG Senior Services at 877-759-5760 or email us at seniorservices@morganwhite.com.

Top 10 Medicare Supplement Companies

Do you ever wonder which Medicare Supplements are available in your area and how they work? First, it is important to know, you must have Medicare Part A and Part B to receive a Medicare Supplement.  All Medicare supplements are standardized and any plan is guaranteed renewable, even if you have health issues. The carrier cannot cancel your plan as long as you are paying the monthly premium.  Although every carrier offers the same plans, the rates are different based on age, gender, tobacco usage, location and sometimes health conditions.  Keep reading to find out the top 10 Medicare Supplement companies… 

Each carrier does implement rate increases each year for every plan. You will receive a letter from the carrier annually, 30 days prior to let you know you are receiving an increase. The average annual rate increase is roughly between 6-10%.

Each carrier has several different plans, such as A, B, C, D, F, G, K, L, M, N.  All plans offer the same benefits, but in some cases, additional benefits are offered.  You have the flexibility to choose which plan best meets your needs. 

MWG Senior Services selects the Top 10 Medicare Supplement companies based on their rating and their annual historical rate increases.   

Top 10 Medicare Supplement Companies:

1.            American Continental
2.            American Retirement
3.            Philadelphia American
4.            New Era
5.            Combined
6.            Mutual of Omaha
7.            Central States
8.            Aetna
9.            Gerber life
10.         American National

 

MWG Senior Services represents all of the Top 10 Medicare Supplement companies listed above and more. To see how their rates rank in your area, click here.  Please keep in mind that Medicare Supplements does NOT cover long-term care, vision or dental care, hearing aids, eyeglasses, or private- duty nursing.  However, Medicare Supplements will cover the 20% that original Medicare doesn’t cover.

Some Medicare Supplement policies also offer coverage for services that Original Medicare doesn’t cover, like medical care you may need when you travel outside of the U.S. Please keep in mind that Medicare Supplement plans are DIFFERENT from a Medicare Advantage plan. 

If you have any questions, please call MWG Senior Services at (877) 759-5760 or email us at seniorservices@morganwhite.com.  Our knowledgeable and experienced representatives are ready to help guide you through the Medicare maze.