Which Humana Medigap Plan Is Right for Me?
Let’s take a look at the different medigap plans and who they’re best for so you can decide which Humana plan fits your needs.
Seniors Who Need Basic Coverage but Not Extensive Health Care Services
Medigap Plans A and B are designed to help cover coinsurance and costs for basic needs not paid by Medicare Parts A and B, such as unexpected medical expenses, hospice care, or extended hospital costs. While you save money with these plans since you are not paying for coverage you don’t use, you may have to deal with a few out-of-pocket expenses. Plan B adds a bit more coverage for hospitalization.
Those Who Travel and Have the Budget to Pay for More Comprehensive Coverage
Medigap Plan G has all the benefits of Plans A and B, plus coverage for skilled nursing facility care coinsurance, your Part A deductible for hospitalization, and your Part B excess charge. Plan G also covers medical emergency help (up to plan limits) when you’re traveling out of the country. Bear in mind Plan G does not include your Medicare Part B deductible ($233 in 2022). It’s worth doing the math to see if your rate generated for Plan G will save you money.
If you were eligible for Medicare before Jan. 1, 2020, another comprehensive medigap option is Plan C. This plan helps keep your monthly expenses consistent, as Plan C covers most Medicare-approved medical expenses. Plan C comes with the added benefit of covering your Medicare Part B deductible. However, Medicare’s Part B excess charge is not covered.
Pro Tip: Medicare supplement insurance plans A through G provide benefits at higher premiums with limited out-of-pocket costs. Plans K through N are cost-sharing plans offering similar benefits at lower premiums with greater out-of-pocket costs.
Older Adults Looking for the Most Complete Coverage Available
Plans F and G are the only two medigap plans that cover 100 percent of Medicare Part B excess charges. This protects you from additional expenses for treatments that exceed Medicare approval. Both Plan F and Plan G include all of the benefits of Plans A and B, plus skilled nursing facility care, Medicare Part A deductible, and international travel emergency help.
Plan F also has a high-deductible option with a lower premium but note that the deductible is not fixed and can go up each year. Keep in mind Medicare Plan F and High Deductible Plan F are only available to Medicare beneficiaries who were eligible for Medicare before Jan. 1, 2020.
Seniors on Tight Budgets Who Don’t Need Frequent Doctor Visits
Medicare Plans K and L offer lower premiums for less coverage. You get the same basic benefits but with less coinsurance and copayment coverage. On the other hand, you are protected by out-of-pocket maximums that limit the amount you may pay each year. After that maximum is reached, the plan pays 100 percent of Medicare-approved costs for the remainder of the year. These plans give peace of mind in case of serious illness or accident. Plan K offers a lower premium than Plan L, but it has higher coinsurance amounts and annual out-of-pocket maximums.
Plan N is similar to Plans K and L in that it maintains a lower premium than other plans, but it offers more coverage than K and L. Plan N covers 100 percent of your Medicare Part B coinsurance costs, but you will have a $20 copay for office visits, and a $50 copay for ER visits. All three of these plans may be attractive medigap plan options for healthy seniors who will rarely use their Medicare benefits.
From the Pros: As you shop for the best medigap plan to meet your needs, it’s important to understand what Medicare does (and does not) cover. Head over to our Medicare guide for more details.
