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Is There A Medigap Plan That Covers Everything?

Medicare is one of the most important and popular federal programs in the United States. It has been providing health coverage to millions of Americans for almost five decades. Many people are surprised to learn that Medicare does not cover all your medical costs, though, and you still have copayments and deductibles.

With this in mind, you may wonder if there is a Medigap plan that covers everything. Medigap will only pay for gaps in coverage for things that Medicare pays for; it will not give you extra benefits, like vision and dental care. However, there are types of Medigap plans that can help you fill the gaps in your Original Medicare coverage.

Comprehensive Medigap Plans

There are ten Medigap plans, and they all have different coverage limits. However, there are two types of Medigap plans that can help you cover all or almost all of the out-of-pocket costs that Original Medicare leaves behind as your responsibility.

The first is known as Medigap Plan F. This plan covers 100% of all out-of-pocket costs. However, as of 2020, Plan F has been discontinued for new enrollees. The coverage Plan F provides includes:

  • Part A and B coinsurance and hospital costs
  • Part A and B deductibles
  • Part A hospice care coinsurance and copay
  • Part B excess charges
  • Skilled nursing care facility coinsurance
  • First 3 pints of blood for transfusions

Plan F also provides 80% coverage for foreign travel emergencies.

The other type of Medigap plan that covers everything is Plan G. Plan G covers the same costs as Medigap Plan F, but you will be responsible for the Part B deductible, which is currently $203 as of 2021.

Another difference is that Plan G is not discontinued to new enrollees and is available to all Medicare beneficiaries.

Prescription Drug Coverage

Medicare Part D drug plans are not actually part of Original Medicare. However, you can add on a Part D plan alongside your Original Medicare coverage. Private insurance companies provide part D drug plans, and they work similarly to other private insurance plans. They cover a certain percentage of the cost of your prescription drugs, and you pay the remaining amount out of your pocket.

Even if you have a Medigap plan, you might still need a Part D drug plan. This is because Medigap plans are not designed to cover prescription drugs. However, choosing the right combination of Medigap and Part D drug plans allows you to get many of your medical costs covered without having to pay much out-of-pocket.

Get Your Medigap Plan Today!

Choosing from different Medigap plans can be tricky. That is why you need an experienced insurance agent. El-Mag Insurance will help you find the right combination of coverage for your needs. Call us today to review your options!

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