The best of all the Medicare supplement plans for the coming years is not an easy choice to make. You have 10 plans to pick from, and each is different in some key way. They all have their advantages and disadvantages, so which are the best Medicare Supplement plans for 2018? We’ll get you the answer as we examine this plan and what they’re offering seniors.
Who Can Sign Up?
Before you can even consider which of the Supplement plans is best, you first have to make sure that you are eligible for them. You want to be able to apply knowing that you’re likely to be approved for the plan you want. Not everyone who applies for them will be approved, sadly. You have to be at least 65 years old to be approved, in many cases. You also need to be a US citizen and a subscriber of the original Medicare plan. You have to have that original plan if you want the Supplement one, since the Supplement plan is designed to attach onto the Original plan.
You can qualify for Medicare and its Supplement plans before you turn 65, though. If you have been diagnosed with a serious condition such as end stage renal disease, then you can qualify much earlier than most people. This applies to people with disabilities as well. You don’t have to wait until you are a senior or retired to enjoy the benefits that Medicare and its supplemental insurance have to offer.
Where to Sign Up?
Next, let’s look at where you need to go to get the Supplement plans. You won’t be able to go through Medicare to purchase them. That’s something you have to do through a private insurance provider. There are a number of companies that sell Medicare Supplement plans, but you won’t necessarily find the best ones with all of them. Most companies that sell Medicare Supplements only sell a few of them. These may or may not be the most popular or the best ones. If you don’t find what you are looking for with one insurance provider, though, then you need to go to another one until you find the right plan. Make sure that you aren’t settling for any plan that is anything other than the best fit for you.
You can sign up once you hit 65 or anytime during Open Enrollment. This enrollment opportunity comes around once every year at about the same time. During the beginning of November and stretching through until about the end of the year, Open Enrollment allows you to sign up with any insurance company for any of the Supplement plans that you want and you get guaranteed approval. That’s incredible and something that you should be taking advantage of. Best of all, your preexisting medical conditions cannot be factored into the price you are charged.
The Best of the Best
Now, let’s get into the very best of the Medicare Supplement plans. We have already talked about where you can buy these from and when you should be signing up, and now it’s time to look at which plan you should be picking. It wouldn’t be fair for us to point out any one plan as the best, though. This plan is each designed with a different kind of person in mind.
For example, someone with a lot of medical expenses and a decent budget to work with should probably go with Plan G or Plan N. These two plans cover a lot of medical costs, but they also have higher price tags than many of the other plans. They are meant for people with a lot of medical costs to take care of. However, for someone with few medical expenses to pay or a very tight budget to spend on healthcare and medical insurance, these plans may be excessive. They could be out of the average person’s price range.
We can’t say that any one plan is better than all of the others, since they all have their pros and cons. You have to look through what’s available to determine the best Medicare Supplement Plans for 2018 in your situation. The plan you choose as the most suitable for you may not be the same one that someone else picks. Your situations are different, and you need to choose a plan according to your needs and not according to what is popular or what everyone else is recommending.
That being said, we recommend a high coverage plan, in most cases. If you can afford them and you can use all them provide coverage, then they are usually the plans with the most value included. Plans like Plan G and Plan N are our top picks for the majority of people. These cover you for blood usage, copayments, nursing care, hospice care, foreign travel expenses, the Part A deductible and in-hospital expenses. Plan G goes further and covers you for the Medicare Part B excess charges. You’ll have to decide if you want that bit of coverage when you pick between these two plans.
These offer the most bang for your buck, in our opinion, but you have to choose a plan that is a good fit for you and your current situation. As your needs change in time, then the plan you sign up for that will suit you best should change as well. Plan G may be the wrong plan for you right now because you are in good health, but as you get older, you may benefit from its extensive coverage.
The Best Price
We have looked at the different overage options or these plans, but we would be failing you if we did not mention the pricing options you have to pick from. You won’t find a standard price for any of the best Medicare Supplement plans for 2018. The prices change all the time, and they are different from one insurance provider to another. We mention before that the Supplement plans are sold by private insurance companies, and what those companies do is set their own prices for this plan. You can get a wide range of prices on the same plan across different insurance companies. The great thing about that kind of selection, though, is that it does not affect the coverage in anyway. The coverage on each plan stays the same, regardless of how the price is different and how it changes over time.
Now, here is what that means for you. It means that you can source a bunch of different quotes for Medicare Supplement plans, getting prices from many different insurance companies. Now, once you do that, you can compare those rates to see who has the best deal. Then you can sign up for the lowest priced versions of the plan you want and still get the same exact coverage as if you were to pay the highest price possible for that plan. Medicare ensures all the insurance companies offer the same coverage on their individual plans. So, Plan G always has robust coverage, but the price can be quite low or high, depending on who you get it from.
If you want the best price, then you need to compare rates. Get as many quotes as you can and make sure your quotes are up to date. Use a price comparison service, if you need to. These services are typically free and offer you an easy way to compare multiple insurance companies and their offerings at once.
If you do that, and you have taken time to make sure you are choosing the best plan for yourself, then you will have one of the best Medicare Supplement plans for 2018. Only you can determine the best plan for you, so take the time to look at your options and compare them to find the most suitable coverage plan.