insurance

What’s the Best Medigap Policy

All plans with the same letter have the same coverage, but prices can vary by company.

Question: Do you have any advice to help me choose which type of Medicare supplement plan to buy? - M.R., Folsom, Calif.

Answer: Medicare supplement policies (medigap plans), which pay out-of-pocket costs not covered by Medicare, come in 10 letter designations (A through D; F; G; and K through N). All plans with the same letter have the same coverage, but prices can vary by company. Plan F has been the most popular. It covers the Medicare Part A hospital deductible and co-payments, the Part B deductible, and some emergency care outside the U.S. Plan F will be discontinued for new Medicare enrollees in 2020 (but people who already have Plan F can keep it). Plan G provides the same coverage except for the $185 Part B deductible. If you don’t anticipate having many doctors’ visits, consider Plan N, which usually has lower premiums in return for some cost sharing.

Most state insurance departments describe the types of medigap policies and list the premiums for plans in their area. Find your state’s insurance department at naic.org/map.

Most Popular

What Biden Will Do: 24 Policy Plays to Expect From the Next Administration
Politics

What Biden Will Do: 24 Policy Plays to Expect From the Next Administration

The Kiplinger Letter forecasts President-Elect Joe Biden’s biggest priorities -- and the likelihood of progress on them.
November 19, 2020
The 13 Best Healthcare Stocks to Buy for 2021
Kiplinger's Investing Outlook

The 13 Best Healthcare Stocks to Buy for 2021

Most of the best healthcare stocks for 2021 will have some sort of ties to COVID, whether it's producing a vaccine or cure, or benefiting from the vir…
November 20, 2020
16 Worst Gifts to Impulse Buy for the Holidays
shopping

16 Worst Gifts to Impulse Buy for the Holidays

Don't let those holiday sale promotions persuade you into buying something now that will be much cheaper later.
November 18, 2020

Recommended

Bad News for Super Savers
Financial Planning

Bad News for Super Savers

Low inflation keeps thresholds on retirement savings plans in check.
November 25, 2020
Making Wise Choices During Open Enrollment
health insurance

Making Wise Choices During Open Enrollment

Contributing Editor Lisa Gerstner runs through the new variables of the 2020 open enrollment season. Also, hosts Sandy Block and David Muhlbaum talk a…
November 17, 2020
Dear Mom and Dad: Thanks
Making Your Money Last

Dear Mom and Dad: Thanks

Ideally, living at home should provide a way to improve your financial well-being and lay the groundwork for future success.
November 17, 2020
What the New President Means for Your Money
Politics

What the New President Means for Your Money

President-Elect Biden wants more consumer protections and perks for the middle class and seniors.
November 17, 2020