Which Americo Medigap Plan Is Right for Me?
Plan A: Basic Coverage
If you want coverage for hospital stays, home health care, and hospice care, Medigap Plan A can give you the basic coverage you need at a relatively low premium. However, you will need to save room in your budget to pay the Medicare Part A ($1,556 in 2022) and Part B ($233 in 2022)1 deductibles if needed.
Plan F: Good Coverage for Pre-2020 Enrollees
Plan F was the most popular Medigap plan selected before the federal government put a halt on new enrollees selecting the plan starting in 2020. If you were already enrolled in Plan F before 2020, you can keep your coverage. The monthly premium is high for Plan F, but if you’re a senior who needs frequent medical care, you can rest assured that copays and deductibles are taken care of.
High-Deductible Plan F: Low-Cost Coverage for Pre-2020 Enrollees in Good Health
Prior to 2020, high-deductible Plan F was another favored Medigap choice for older adults. This plan offers identical coverage to Plan F with one prerequisite. You must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount ($2,370 in 2021).2 If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to purchase a high-deductible Plan F plan.
Plan G: Comprehensive Coverage for New Medicare Enrollees
Plan G provides the most comprehensive coverage for older adults. If you have frequent medical appointments or are diagnosed with a chronic illness, this will give you the best coverage. Keep in mind the premiums may be a bit higher. Very similar to Plan F, Plan G covers almost everything, minus the Part B deductible. As a result, you’ll need to pay the Medicare Part B deductible before your insurance benefits kick in.
FYI: If you’re feeling overwhelmed trying to research Medigap insurance, visit our guide to Medicare supplement insurance. It covers everything you need to know from understanding what Medigap is to how to enroll.
Plan N: Low Premium
If you’re an older adult living on a tight budget but still want decent coverage, Plan N may be for you. Your monthly premium will be lower with Plan N, but be prepared to pay for Part B deductible, coinsurance, and any excess charges.