Best Medicare Supplement Plans for Low-Income Seniors
Which Medigap Plans Are Most Affordable?
Medigap premiums vary based on the location, provider, and beneficiary, but Medigap Plan N is one of the more affordable options available. There are some cheaper options, but Plan N covers coinsurance, copayments, and the Medicare Part A deductible.
Since Medigap plans are federally regulated, Plan N from one insurer will offer you the same coverage as Plan N from any other. The primary differences in providers will be extra benefits, pricing, and customer service.
In our research, the following providers offered the best Medigap policies for low-income seniors.
Pro Tip: If you want to learn more about a wide range of Medigap plans regardless of cost, then check out my choices for this year’s best Medigap plans.
The Best Medicare Supplement Plans for Low-Income Seniors
- Humana : Best overall plans
- Anthem : Prescription Savings
- Cigna : Coverage for Pre-Existing Conditions
- Aetna : Widest Range of Coverage
- Mutual of Omaha Medigap Plans : Best Customer Service
- State Farm : Best Bundled Discounts
- AARP Medicare : Best Educational Tools
How We Chose the Most Affordable Medigap Plans
No matter which company you choose, your Medigap policy will offer the same coverage. Each private insurance provider, however, has its own idiosyncrasies that will ultimately affect your decision. Here’s what I looked for when choosing the most affordable Medigap plans:
- Low premiums: All Medigap Plan Ns are created equally, but their prices are not. When looking for the best Medigap for low-income seniors, I searched for only the most affordable policies, which would save you money on your monthly premiums.
- Bundled savings: The companies listed here not only offer Medicare supplemental insurance, but they also offer life, home, or even auto insurance, with savings included when you purchase multiple plans.
- Great customer service: You probably know how tricky things can get when it comes to health-care costs. I looked for insurers with transparent policies and dedicated teams of customer-service professionals to help you understand your benefits.
- Network coverage: If you already use health insurance of any kind, then you likely have a preferred doctor or health-care provider. I looked for Medigap providers that don’t restrict your coverage network, allowing you to keep your current health-care team.
The Best Medicare Supplement Plans for Low-Income Seniors
Humana - Best overall plans
What We Like Most:
- Wide range of plans offered
- 24/7 customer service
- Vision and dental add-ons available
- High-deductible plan options
Humana offers one of the best Medigap Plan N options, with affordable premiums and helpful extra benefits. In addition to Medigap Plan N’s coverage — which will be the same, regardless of the provider — policyholders will receive discounts on hearing health, prescription medications, vision services, and fitness clubs. Humana also provides a 24-hour nurse advice line to help answer non-emergency medical questions.
A Medigap Plan N from Humana would cost a 70-year-old nonsmoking woman about $190 per month, but the actual amount will vary by age, gender, and location.
To learn more about Humana, read our guide to Humana Medicare Supplement Insurance, as well as our guide to Humana Medicare Advantage.
Pros
- Quick quoting process
- 24/7 nurse hotline
- Easy-to-navigate website
- Plentiful Medicare information and resources
- Vision and dental options
Cons
- Above average premiums
Anthem - Prescription Savings
What We Like Most:
- Extensive provider network
- Affordable monthly premiums
- Bundling options with health and dental
- Large selection of plans
Anthem offers one of the most compelling Medigap Plan N options. As well as providing additional coverage for coinsurance and copays, Anthem offers an array of extra benefits to all of its Medigap policyholders.
Anthem Medicare Supplement plan members will receive reimbursement for gym memberships, as well as discounts on prescription medications and hearing and vision services. The discounts will not provide the same coverage as an Anthem Medicare Advantage plan, but they will certainly help you cut back on costs beyond the normal inclusions of a Medigap Plan N.
Anthem Medigap plans are also relatively affordable. A 70-year-old woman living in Nevada can expect to pay about $120 per month in premiums for an Anthem Plan N.
Pros
- Discounts on prescription medications
- Gym membership reimbursement
- Great customer service
- Hearing and vision discounts
Cons
- Available in only 14 states
Cigna - Coverage for Pre-Existing Conditions
What We Like Most:
- Large range of plans
- Coverage for people with preexisting conditions
- Foreign travel emergency coverage available
- Skilled nursing facility coinsurance available
Cigna, one of my favorite insurance providers, offers an affordable range of Medigap plans in 31 states. Its Medigap Plan N offers an affordable way to cover some of the costs that Original Medicare doesn’t.
A 70-year-old nonsmoking woman from Dallas, for example, could expect to pay $108.70 per month for a Medigap Plan N premium. The price can drop 7 percent if more than one person in the same household enrolls in a Cigna Medigap plan. You’ll also receive a 5 percent discount for signing up online.
Cigna includes extra perks with its Medigap policies. Users can take part in the Cigna Healthy Rewards plan, which provides discounts on home-delivered meals, free trials on home fitness classes, and savings on podiatry services. Cigna also gives subscribers access to its 24-hour Health Information Line.
To get started with Cigna, check out the company’s website, where you can enter your personal information, receive a free quote, and explore other Medigap options.
Pros
- 24/7 customer service line
- Household discounts
- Easy-to-understand policies
- Coverage in most states
Cons
- Relatively few plan options
Aetna - Widest Range of Coverage
What We Like Most:
- Five plans to choose from
- Additional benefits for plan members
- No network restrictions
- Keep your coverage even if you move
Aetna is another great option for an affordable Medigap policy. It offers plans, including a budget-friendly Plan N, in just about every state.
That same 70-year-old nonsmoking woman from Dallas could expect to pay $96.54 for her Plan N monthly premium, making Aetna one of the most affordable providers on this list. Aetna also offers discounted rates for multiple subscribers in the same household, so it’s a great option for spouse coverage.
One of my favorite things about Aetna is that it has no network restrictions, which means your Aetna Medigap plan can be used with any doctor who accepts Medicare.
To learn more about Aetna Medicare supplemental insurance, look at the company’s website, where you can see the policies and get an instant quote by typing in your birthdate and the intended date of your coverage start.
Pros
- Range of plans available
- Extra perks for members
- No network restrictions
- Dental and prescription plans
Cons
- Difficult-to-understand plan coverage
Mutual of Omaha Medigap Plans - Best Customer Service
What We Like Most:
- Wide range of plans
- 12% spouse discount
- Prescription-drug and dental options
- No network restrictions
One of the oldest and most trusted insurers in the United States, Mutual of Omaha offers three Medigap plans that can help you offset the costs left over by Medicare. It’s also the only provider on this list to service all 50 states.
For that 70-year-old nonsmoking woman from Dallas, a Medigap Plan N policy would cost $103.15 per month. If she has a roommate or spouse who also signs up with Mutual of Omaha, her premium would be lowered by 12 percent to $90.77.
As a bonus, with Mutual of Omaha’s Mutually Well program, Medigap enrollees can receive fitness rebates and discounts on healthy-living products and hearing aids from Amplifon.
To get started with Mutual of Omaha, check out the company’s website, where you can learn more about its three policies and benefits, and obtain a free quote in a matter of minutes.
Pros
- Prescription and dental options
- No network restrictions
- Dedicated helpline
- High-deductible options
Cons
- Only three plans
- No Medigap app
State Farm - Best Bundled Discounts
What We Like Most:
- Available in 45 states
- Competitive pricing
- Over 19,000 local agents for personalized service
- Bundled savings
Founded in 1922, State Farm is widely known as a solid choice for auto insurance. What many people don’t know, however, is that it also offers Medicare supplemental insurance, and you can save money if you purchase multiple insurance policies.
Our hypothetical 70-year-old nonsmoking woman in Dallas could expect to pay $131.92 for her Plan N monthly premium. She can also earn discounts for purchasing auto or additional health insurance through State Farm. State Farm Medigap plans can also be used with any health-care providers that accept Medicare.
Visit State Farm’s website to get a quick and free quote for different Medigap policies. I’d also recommend calling a local State Farm agent, since they’ll be able to advise you on which additional discounts you may qualify for.
Pros
- Six plans offered
- Bundled options available
- Available in 45 states
- Personalized customer service
Cons
- Premiums may increase over time
AARP Medicare - Best Educational Tools
What We Like Most:
- Household and electronic payment discounts
- Plans A, B, C, F, G, K, L, and N offered
- Helpful online resources
AARP Medigap plans, offered through UnitedHealthcare, give seniors some peace of mind when planning out their medical budgets. If you’re a current AARP member, then a policy through UnitedHealthcare can provide significant savings.
A 70-year-old nonsmoking woman in Dallas would pay about $115.91 per month for a Medigap plan N. You should also factor in that these policies are available only to AARP members, and the membership costs $16 per year.
Where AARP Medigap really excels is in its range of educational tools. On its website, you can find an instant quote tool and detailed comparisons of what’s included in each of its plans. AARP’s website even breaks it down into the actual dollar amount you’ll be covered for various expenses, such as coinsurance and travel insurance.
Pros
- Interactive website
- Friendly customer service
- Wide range of plans
- In-person appointments available
Cons
- Must be an AARP member to enroll
Why Medigap Plan N Is Ideal for Low-Income Seniors
In 2019, the average yearly income for Americans over 65 was $47,357. Between housing, entertainment, and medical costs, many people are on a budget and don’t want to add further burden through a Medigap policy. Medigap, after all, is designed to help you save, so I recommend people look into Medigap Plan N.
Its exact price will vary by provider and policyholder, but Medigap Plan N is often one of the more affordable options. Most importantly, it covers coinsurance, copayments, and even your Medicare Part A deductible.
Here’s a full list of what Medigap Plan N includes:
Medigap Plan N Coverage
| Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up | Yes |
|---|---|
| Part B coinsurance or copayment | Yes |
| Blood (first 3 pints) | Yes |
| Part A hospice care coinsurance or copayment | Yes |
| Skilled nursing facility care coinsurance | Yes |
| Part A deductible | Yes |
| Part B deductible | No |
| Part B excess charge | No |
| Foreign travel exchange (up to plan limits) | 80% |
