Which Colonial Penn Medigap Plan Is Right for Me?
Colonial Penn offers every type of Medigap plan out there. Knowing which one to pick can feel a bit overwhelming. Below, we’ll use scenarios and lifestyle preferences to try to outline which plan may be the best choice for you.
Seniors with a limited budget who don’t visit the doctor as often
Plan N is the least expensive Medigap plan for seniors in good health who have infrequent doctor appointments. This plan requires a $20 copay for every office visit and a $50 copay for ER visits. Unfortunately, anything you spend on Plan N copayments doesn’t count toward your annual Part B deductible.
Seniors who want basic yet comprehensive coverage
Many adults find that Medigap Plan A and Plan B meet their needs. These plans provide hospital coverage, hospice care, and home health care. Plus, they assist with copays for routine doctor appointments. The big thing you miss out on with A and B is skilled nursing facility care coinsurance.
Seniors with chronic health conditions and/or seniors with lots of appointments
Colonial Penn offers a high-deductible option for Plans F and G. If you use medical services a lot, going with one of these plans can save you money. Your monthly premium is lower, and once you meet the deductible, your plan covers 100 percent. This is a great choice if you have frequent follow-ups or specialist appointments or if you expect to need surgeries. Of course, it’s only worth it if you anticipate meeting that deductible. Otherwise, you may be better off with regular Plan F or G.
FYI: Medigap plans are standardized. Plan A from Humana, another provider we've reviewed, offers the same coverage as Plan A from Colonial Penn. When comparing providers, you want to focus on the extras, the customer service, and the cost.
Seniors who live in a skilled nursing facility or plan to move into one
Only plans C, D, F, G, and N limit costs associated with skilled nursing facilities. If you have a medical condition or disability that makes it so you’d benefit from a skilled nursing facility now or in the future, one of those plans could help you save money.
Seniors with the travel bug
Love to travel? Plans C, D, F, G, M, and N also provide international emergency coverage. If you have family overseas that you like to visit or simply plan to see the world during retirement, obtaining that coverage makes a lot of sense.