While a number of companies offer Medigap insurance, they can only offer policies from 11 standardized plans. Each is simply assigned a letter: A, B, C, D, F, G, K, L, M and N. Some states also offer a high-deductible version of Plan F (although it, too, will come off the list for newly eligible Medicare beneficiaries after 2019).
This standardization means that, say, Plan A at one insurance company is the same as Plan A at another. Be aware, however, not every plan is available in all states. And three states — Massachusetts, Minnesota and Wisconsin — standardize their plans differently.
The most popular Medigap option has been Plan F, which is considered the Cadillac of Medigap plans due to its generous coverage and higher premium.
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And although Plan F (and C) no longer will be available for future 65-year-olds, Plan G provides the same coverage, minus the Part B deductibles. That is, its coverage includes copays, deductibles and coinsurance associated with Part A, along with 80% of your emergency overseas medical care (within limits).
It also includes coverage for excess charges that sometimes happen with doctor's offices — i.e., balance billing, which is when the provider charges you for the difference between Medicare's reimbursement rate and its own charges.
There also will be a high-deductible version of Plan G.
Experts recommend giving thought to how often you use the health-care system when you're considering which Medigap policy to choose.
For example, one option might come with a lower premium because it offers less coverage. Yet if you use the health-care system frequently and that lack of full coverage results in many copays or bills for excess charges, you might end up spending more anyway.