The author is director of the Association and receives a salary for conducting research and consumer educational efforts. AAMSI does not earn any commissions but is supported by insurance professionals who market Medicare insurance products.
The most popular Medigap or Medicare Supplement plan selected by individuals turning 65 in 2022 was Plan G according to data published by the American Association for Medicare Supplement Insurance (AAMSI). Jesse Slome is employed as director of the Association. In that role he does not receive any commission or incentive compensation. AAMSI exists to conduct independent research designed to help consumers make better decisions regarding their Medicare planning.
According to the report just over half (51%) of those opting to have Medigap plan coverage selected Plan G. The next most popular choice was plan N (38.3%) followed by a High Deductible Plan G policy (7.4%).
Some 14 million Americans currently have coverage that’s called Medicare Supplement or Medigap according to AAMSI. These are different from Medicare Advantage plans, sometimes known as Medicare Part C.
There are good reasons that Plan G is so popular according to the Medicare insurance organization. Medigap plans are health insurance policies that help to cover some of the costs that Medicare does not cover. That’s why the word ‘gap’ is used.
Medigap plans allow the individual to see any doctor, specialist or health professional who accepts Medicare. The same is true for hospitals. Want to go to the Mayo Clinic? No problem.
While Medicare Advantage plans are increasingly popular among seniors, these plans can designate who you can see for care. If you show up in an Emergency Room, they may treat and then transfer you to a facility included under your plan. And, some healthcare providers will no longer accept Medicare Advantage plan coverage (the Mayo Clinic is one that no longer accepts).
Every year the Association prepares the Medigap Plan G Cost Index. This reports the lowest and highest cost for major cities.
According to AAMSI's latest research, you can expect to pay between $100 and $300 monthly for Plan G coverage. Each insurance company sets their own rates and they can vary significantly. For example, according to the 2022 Price Index, a 65-year-old female in Chicago could pay as little as $116.30 or as much as $235.04 for essentially identical coverage.
