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In this article, we explain what the Medicare out-of-pocket maximum really means, how it works across different types of Medicare coverage, and how you can better insulate yourself from unexpected medical bills.

Medicare Supplement Plans F, G, and N are the three most popular Medigap Plans in the United States. Plan F has long been the Cadillac of Medigap Plans, but is now available only to those who turned 65 before January 1, 2020. Even though they have higher Out-Of-Pocket costs, Plan G and Plan N are more cost-effective than Plan F.

A little over 50% of Medicare Beneficiaries have Medicare Supplement/Medigap Insurance, often called Medigap Insurance. These policies are designed to work alongside your Original Medicare benefits, covering the financial gaps that Original Medicare leaves behind. Historically, beneficiaries had a wide array of lettered plans to choose from, each offering a different level of standardized coverage. This standardization ensures that a Plan G from one carrier offers the same be

The Medicare enrollment period is a designated time each year when beneficiaries can make changes to their Medicare coverage. This period typically runs from October 15 to December 7 annually. During this time, you can: Switch from Original Medicare to a Medicare Advantage plan. Change from one Medicare Advantage plan to another. Enroll in a Medicare Part D prescription drug plan. Drop your Medicare prescription drug coverage.

One of the biggest mistakes Medicare beneficiaries make is assuming all Medigap plans cost the same. While benefits are standardized, monthly premiums vary widely by insurance company. For example, two carriers may offer identical Plan G policies, but one could cost $40–$60 more per month. Over the course of a year, that adds up to hundreds of dollars in unnecessary spending. By comparing quotes from multiple companies, you can ensure you’re not overpaying. Working with a

Please keep an open mind when evaluating quotes from each carrier. There are well-known insurance companies and those that are less well-known; however, all Medigap plans are standardized, and carriers must offer the same coverage. To compare insurance carriers, consider their financial rating to assess their reliability. Work with an Independent Medicare Broker in your area to ensure you are maximizing your discounts.

However, some differences between the G and N can impact your healthcare expenses and decision about which is more suitable for you. In this article, we’ll compare Medigap Plan G vs Medigap Plan N to help you decide what best suits your needs. 

Medicare uses Prior Authorization to ensure that certain medical services or prescription drugs meet specific coverage criteria before they are approved and paid for. Prior Authorization rules are implemented as cost-saving measures. Medicare wants to ensure that every Medical Procedure is medically necessary for the beneficiary's health.