Medicare Supplement Plans in Ohio: Understand Your Options
Learn about Medicare Supplement (also called Medigap) plans in Ohio and how to enroll
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.
Key Takeaways:
There are ten types of Medicare Supplement plans in Ohio. These plans are named with letters A through N. Medigap Plans F and G also have a high-deductible option.
Medigap Plans G and N are the most popular options among new Medicare beneficiaries because Plan F is not available to anyone who turns 65 after January 1, 2020.
Every Medigap plan of the same type (for example, every Plan G) provides the same coverage, but personal factors, economic factors, and insurance carriers can affect pricing.
The ten Medicare Supplement plans
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.
What is the best Medicare Supplement plan in Ohio?
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.
What is the average cost of a Medicare Supplement plan in Ohio?
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:
Your age
Your gender
Your location
Whether or not you are a tobacco smoker
Living with someone who is also Medicare eligible
Your insurance carrier
Your policy’s pricing structure
Medigap plan pricing structures
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.
If you have a community-rated (or no age-rated) plan: age does not impact your monthly premium. Your premium also remains the same over time and does not increase as you grow older.
If you have an issue-age-rated plan: your policy is priced according to your age when you purchased (were issued) the Medicare Supplement plan.
If you have an attained-age-rated policy: your plan’s price is based on your current age (the age you’ve attained). Premiums are lower when you first enroll, but will increase as you age.
Note that external factors like inflation can affect the price of your plan, regardless of your plan’s pricing structure.
How to enroll in the best Ohio Medicare Supplement plan
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:
Ask you about your health history
Deny your application
Charge you more due to your age
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.