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Blue Cross Blue Shield Medicare Supplement Company Review
Last Updated on
One of the most well-known brands in America as a whole is Blue Cross Blue Shield. As one of the largest, most popular insurance carriers in the country, we like to inform our customers of their plans and what to look for when cross-shopping.
It’s one of the things we advise all of our customers to do as we point them to the plan that is best suited for their needs.
Also, be sure to note that you might find various Blue Cross Blue Shield companies because they are all independent. In actuality, they all fall within the umbrella of the Blue Cross Blue Shield Association. So all of the information you learn here will apply to all of them.
How Medigap and Drug Plans Work
To put it simply, if you are enrolled in Medicare Part A and B, Medigap can help fill the coverage gaps in Medicare Part A and B.
There are numerous out-of-pocket costs that aren’t covered by Parts A and B such as deductibles, copays, and coinsurance. This is where Medigap comes in to play and can “bridge the gap”.
There aren’t really any network limitations because these plans are available in all 50 states and are accepted anywhere that Medicare is accepted.
Blue Cross Blue Shield (BCBS) Medicare Supplement Premiums
*The above rates are from zip code 20120 in Centreville, VA for females age 65. Rates vary based on zip code, gender, age and, in some areas, health.
- Plan A: $439.18
- Plan F: $139.01
- Plan G: $116.51
- Plan N: $95.75
It’s important to keep in mind that all Medicare supplements are federally standardized. Meaning, they must cover the same exact benefits. This makes shopping around a critical step in the Medicare supplement decision process. Be sure to check out the other important factors that should be driving your Medicare supplement decision.
Medicare Supplement plans offered by Blue Cross Blue Shield
One thing to note is that even though you’ll see different Medigap Plans, the basic benefits for the plans apply to every insurance company that sells that specific plan.
For example, the benefits you see for Plan A is the same for every Plan A for every insurance company. The main differing factor is the premium. And of course, this is something we can help you navigate if you need further help.
The most popular Plans are Plans A, B, F, G, and N.
We’ll break down these four so you can have a better understanding of which one is right for you.
Blue Cross Blue Shield (BCBS) Medicare Supplement Plan A
Medicare Supplement Plan is the most ideal plan for individuals who want more coverage than Medicare Parts A and B. One of the major benefits is that you don’t pay for extra coverage that you might not use. It pays your hospital copays if you have an inpatient stay that is longer than 60 days.
And in order to help cover a gap from Medicare Part A, the Supplement Plan A provides an extra 365 days of coverage once Medicare Part A benefits run out.
It also pays for Part B coinsurance (which is usually 20% of expenses) or copayments for hospital outpatient services. Since expensive services like surgeries, chemoteraphy, dialysis, and radiation are categorized as Part B, this is extremely helpful.
The gap works because Medicare covers 80% and the Supplement Plan A covers the remaining 20%.
The one drawback is that with Plan A, you will have to pay both your Medicare Part A and Part B deductibles.
Blue Cross Blue Shield (BCBS) Medicare Supplement Plan B
Plan B is not part of Blue Cross Blue Shield, but is something you should be familar with.
It pays Part A coinsurance plus the coverage for 365 additional days after your Medicare benefits run out.
It also pays for Part B coinsurance (which is usually 20% of Medicare expenses) or copayments for hospital outpatient services.
One thing to note is that if you choose Plan B, you will only be responsible for paying your Part B deductible (unlike Plan A which requires you to pay both Part A and Part B).
If you need help deciding between Plan A and Plan B, feel free to reach out to us and see how we can help you.
Blue Cross Blue Shield (BCBS) Medicare Supplement Plan F
Plan F is popular is because it covers nearly all of the gaps in Medicare Parts A and B. It includes all of the benefits of plans A and B while providing coverage for skilled nursing facility care.
There are no out-of-pocket costs for hospital or outpatient services which makes this plan a great choice since there is no deductible or coinsurance.
Additional visits, chemotherapy, lab testing, and other similar costs are covered too.
Many individuals choose this plan because of its wide range of coverage and the ability to not have to pay out of pocket.
Blue Cross Blue Shield (BCBS) Medicare Supplement Plan G
After Plan F, Plan G is the next popular plan that many people chose. It has the same coverage as Plan F with the exception of your Part B deductible.
Essentially, it’s a good pan for people who want coverage for hospitalization, but have no problem paying the Medicare Part B deductible themselves.
Of course Plan F sounds better, but the reason why Plan G has gained popularity is because the premiums are lower. So people are willing to pay the Part B deductible for a lower premium.
However, you want to make sure this is the right plan for you before jumping into it just because the premium might be lower.
Blue Cross Blue Shield (BCBS) Medicare Supplement Plan N
Plan N has lower premiums than Plan G while having the same coverage in terms of Hospitalization (additional 365 days after Medicare benefits end) and medical expenses ($20 copay for office visits and $50 copay for ER) at 20% of Medicare expenses.
You also get coverage for skilled nursing facilities and a Medicare Part A deductible for hospitalization.
What makes Plan N a viable choice is that it works for people who want cheaper premiums but who are ready to pay for more out-of-pocket on the back end. So if you’re a healthier individual who doesn’t require a ton of medical visits and usage throughout the year, this can be a great choice for you.
Next Steps For You
This might seem overwhelming, especially because we didn’t even cover Plans C, K and L! But don’t be alarmed. We’re here to help with any questions you might have. The last thing you want to do is choose a plan and regret it a month later when you go to your first medical visit.These plans are available across the states so if you would like to explore the plans available for you, we can help you review your options for every major Medigap insurance companiy.
Plans continue to have increase rates, so it’s important to choose the right one that isn’t going to hurt you in the long run. We have a system that allows us to find you the best prescription drug plan available so you can be confident that you are in the right plan for you.
Our goal is to support you and help you make the most effective choice for you, that takes care of you and your health. Because your health is important to us, we will always be your first point of contact with any questions. You get a direct number to us so you never have to feel alone in this.
If you’re ready to finally make the choice to get on the Medicare Supplement Plan that is right for you, reach out to us here today.