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I am consistently asked.”Which Medigap plan is best for me?” Obviously, there are plenty of retirees who want to make certain that if they develop an illness or experience an injury they are not stuck with excessive medical bills.
Still, these same folk, do not want to pay through the nose for health insurance. Most of them have a finite amount of money that they have been able to save during their working years and don’t want to haphazardly give it away to the insurance companies.
Apparently, Kimberly Lankford of Kiplinger‘s thinks similarly to me. At least when it comes to Medigap plans she does.
In June of this year, CMS approved 2 new Medigap plans. In my opinion, Plan N is the superior one. Although we think similarly, Kimberly Lankford is more eloquent than I in explaining the benefits of Plan N vs. Plan F.
With the elimination of 1/3 of the approved Medigap plans in the past few years, Plan F is currently the most comprehensive and popular Medigap plan available. It is also, in many cases, the most expensive plan available. The new Plan N has only been available since June of 2010. It is similar to the old Plan F but with a cost sharing strategy for Medicare B claims.
As I said, Kimberly Lankford does a better job than I making the comparison between plans. Read her comments at the link below.
http://www.kiplinger.com/columns/ask/archive/how-to-lower-medicare-costs.html
