Medigap Plans for Cancer Patients
Cancer is one of the most expensive medical conditions in the U.S. This may cause older adults with cancer to face significant financial hardship. Researchers found that cancer patients on Original Medicare (Part A and Part B) without supplemental health coverage spent one-quarter of their income on out-of-pocket medical costs.2
Medigap (also known as Medicare Supplement Insurance) may be used to help offset the out-of-pocket costs associated with cancer treatment. New enrollees can choose from eight of the 10 standardized Medigap plans: A, B, D, G, K, L, M, and N.
Two Medigap plans offering comprehensive coverage to fill in the gaps, such as copayments, coinsurance, and deductibles, of Original Medicare stand out: Medigap Plan G and Plan N.
Medigap Plan G: Except for your Medicare Part B deductible, Medigap Plan G covers 100 percent of the costs for outpatient services, including doctor visits, medical supplies, and lab work. Medigap Plan G also covers blood transfusions, inpatient hospital fees, skilled nursing facility care, ambulance transportation, and hospice.
Medigap Plan N: Plan N is remarkably similar to Plan G’s coverage. However, with Plan N, you’ll be responsible for copayments up to $20 for office visits and $50 for emergency room visits that don't result in inpatient admission. Because of these copayments, Plan N’s premiums are lower than Plan G.
Did You Know? If you live in Massachusetts, Minnesota, or Wisconsin, your state offers different Medigap standardized plans.3 Your State Health Insurance Assistance Programs (SHIPs) can assist with plan comparison.
A key difference between Plan G and N is that Plan N does not cover the Medicare Part B excess charge. The excess charge is the amount a provider can charge over the Medicare-approved amount. All of the providers that made our list offer Plans G and N, along with prescription drug plans.
Prescription Drug Plans for Cancer Patients
In addition to a Medigap plan, it’s common for people with cancer to enroll in a Medicare Part D prescription drug plan (PDP). PDPs cover most prescription medications and some chemotherapy treatments and drugs. As with Medigap plans, Part D plans are sold by private insurance companies. As a cancer patient, your annual drug costs may be high, so it is imperative that you look at all of the available plans to find the one that best meets your needs.4
Our five best Medigap plans for seniors with cancer all offer the option to add a Medicare Part D prescription drug plan. Insurance bundling helps streamline communication with your insurance provider, make premium payments, and track coverage and claims.