Many Medicare enrollees on Original Medicare (vs Medicare Advantage) choose to also enroll in a Medicare Supplement plan. Medicare Supplement (also called Medigap) plans supplement Original Medicare, helping to cover the 20% of costs not covered by Original Medicare.
In Ohio, there are ten Medigap plans you can choose from, labeled by letters A through N. Of all the Medicare Supplement options, Plans G and N are considered the “best” because they provide the best value—comprehensive coverage at a good price. The right Medicare Supplement plan for you depends on a variety of factors unique to your health, financial, and lifestyle needs. In this post, we’ll talk about how to choose the best coverage for your needs.
47 out of 50 states, including Ohio, offer the same ten Medicare Supplement plans. These plans are labeled by letters A-N, and each pays for a different set of out-of-pocket costs.
Plans of the same type, for example, all Plan Gs, are identical in coverage, but your specific premium (monthly cost) will depend on a variety of factors. We’ll dive into how Medicare Supplement plans are priced later on.
Explore our Medigap comparison chart to understand the differences between plans.
Note: Plans F and C are unavailable for Medicare enrollees who turn 65 after January 1, 2020.
Although there are plans that provide more comprehensive coverage than others, the “best” Medicare Supplement plan in Ohio really depends on your individual needs. To choose the best one for you, you’ll need to consider factors like your medical needs, recurring health expenses, budget, and lifestyle. Our licensed Medicare Advisors can help you compare plans and enroll in one that works for you.
Generally, Plan G and Plan N cover the most benefits and out-of-pocket charges at the best price. For Plan G, once you’ve met your annual Part B deductible, you won’t owe anything else for Medicare-covered services for the remainder of the year. Plan N is the same as Plan G, except it doesn’t cover Part B excess charges. That said, Ohio, along with a handful of other states, prohibits Part B excess charges.
For all Ohio Medigap plans in 2024, premiums range from $36/mo for a high-deductible Plan F to $917 for the highest cost Medigap Plan F. You can learn more about pricing of individual plans here.
There’s a range of prices for each Medigap plan, and your Medigap plan premium will be different from that of your friend or neighbor. The following personal and economic factors may have an impact on your premium:
There are three types of pricing (or rating) structures that a Medigap plan can have. The plans are either community-rated, issue-age-rated, or attained-age-rated.
Note that external factors like inflation can affect the price of your plan, regardless of your plan’s pricing structure.
It’s important to sign up for a Medigap plan during your Medigap Open Enrollment, a six-month timeframe after your Medicare Part B insurance begins. This is the best time to enroll because insurance companies cannot:
You are guaranteed to get accepted into the Medigap plan you want when you sign up during your Medigap Open Enrollment period.
When you're ready to sign up, you'll need to pick a Medicare Supplement plan in Ohio that works best for you. With ten different plans to choose from, and different insurance carriers offering each plan, it’s good to work with a licensed Medicare advisor who can help you understand the differences.
Understanding your options and choosing the right Medicare coverage for your needs can feel overwhelming, but it doesn’t need to be! Our Ohio Medicare Advisors are here to help you weigh your options, understand the difference between Medigap plans, and get access to the most comprehensive healthcare. Schedule a chat with us or call us at (855) 900-2427 to get started today.