Illinois Medicare Supplement Plans for 2023
In 2023, there will be 9 Medicare Supplement plans available for all Illinois applicants. These plans are named by letter – Plans A, B, D, G, High-Deductible G, K, L, M, and N.
Also, we represent over two dozen Medicare Supplement companies that offer these supplemental plans in Illinois for 2023. There are nationally-recognized companies you’ve probably heard of, like Mutual of Omaha or Aetna, as well as some lesser-known names, such as American Benefit Life or ACE.
We have a lot of choices to sift through, and Medicare plans are notoriously complicated. We’re breaking it all down to bring you what you really need to know about Illinois Medicare Supplement plans in 2023.
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Medicare Supplement plans available in 2023
Medicare Supplement plans are named by letter, such as Plan F or Plan G. These plans' benefits are standardized by the government, meaning the benefits of a Plan F are the same, regardless of which company you buy it from. This makes comparison shopping a lot easier!
The Medigap plans available to you are determined by when you were first eligible for Medicare. (Medigap and Medicare Supplement mean the same thing.)
In 2023, everyone in Illinois will have access to the following Medicare Supplement plans:
- Plan A
- Plan B
- Plan D
- Plan G
- High-Deductible Plan G
- Plan K
- Plan L
- Plan M
- Plan N
If you were eligible for Medicare on or before January 1, 2020, you also have access to Plan C and Plan F.
There were other plans available in the past that aren’t available now, such as Plans E, H, I, and J. In general, if you already have one of these plans, you can keep it.
Most Popular Medicare Supplement Plans
With all that said, the three most popular Medicare Supplement plans are Plan F (for those who can still buy it), Plan G, and Plan N.
Our top suggestion for those enrolling in Medicare now is Plan G.
These are the most popular plans because:
- They offer the most coverage.
- The pricing makes sense for the benefits you get.
- They are the most widely available among the Medicare Supplement companies.
Medicare Supplement Plan Benefits Chart
What is the best Medicare Supplement plan for 2023?
So, what is the best Medicare Supplement plan in Illinois for 2023? The answer is it depends.
In the past, the most popular Medicare Supplement plan we sold here in Illinois was Plan F. It had the most comprehensive coverage out of all the plan types, meaning your costs would actually be $0 for any Medicare-approved expense. (Supplement plans can only supplement what Medicare already covers, meaning non-approved expenses, like hearing aids, would still be your responsibility.)
Plan F was the most popular plan for our Illinois clients, and it accounted for 53% of all Medigap plans sold in 2018 (AHIP State of Medigap, 2020).
A significant change was on the horizon, though. As of January 1, 2020, Plan F is only available to those who were first eligible for Medicare on or before January 1, 2020.
Read More: Why Exactly Is Plan F Being Phased Out?
Now, the best Medicare Supplement plan will depend on your eligibility. If you were first eligible for Medicare before January 1, 2020, Plan F may still be a great choice.
If you were first eligible for Medicare after January 1, 2020, Plan G would be our top recommendation followed by Plan N.
Even though Plan F is no longer available to new Medicare beneficiaries, it's still worth considering if you were eligible for Medicare before January 1, 2020.
The prices on Plan F can be very competitive, and that’s because now, you have to pass health questions to purchase a Plan F. In the past, that wasn't the case.
The bottom line is Plan F may have a great rate for those who are eligible to buy it. We can shop the market for you – just call our office or schedule an appointment online.
For those who are newly eligible for Medicare, Plan G is the most popular Medicare Supplement choice in our office.
Plan G has the same coverage as Plan F except for one small thing: Medicare Part B’s deductible of $226 (as of 2023).
Plan N is also gaining popularity because of its robust coverage and affordable price. Plan N has similar coverage to Plan G with two differences:
- You will pay a copay at the doctor’s office (up to $20) and the ER (up to $50)
- Part B excess charges are not covered
Excess charges can be confusing, but they only apply if you see a doctor that doesn’t accept Medicare. Most doctors do accept Medicare, making it a non-issue for nearly all of our clients in Illinois. If you are interested in Plan N, the best thing to do is confirm with your doctors and specialists that they accept Medicare.
Once you decide which Medicare Supplement plan you want, the next question is: which company do you buy it from?
Which Medigap company is the best in Illinois for 2023?
The most competitive Medigap companies tend to change each year. When an insurance company has to increase their rates over and over, their prices become so high they’re no longer competitive.
When that happens, the insurance company “shelves” the plan, and they start a new company.
You can read more about how this works here: A peek behind the curtain of Medicare Supplement insurance rates
Because of this revolving door of new companies, the most competitive insurance companies are continually evolving.
For 2023, some of the most competitive Medicare Supplement companies in central Illinois are:
- ACE Medicare Supplement
- Lumico Medigap Solutions
- American Benefit Life
- Allstate Health Solutions
- Mutual of Omaha
None of these companies are definitively the “best” for everyone – the best option for you will depend on a few factors:
- Your age
- Your gender
- Your zip code
- Whether or not you use tobacco
- Whether or not you qualify for the carrier’s household discount
- Which plan you want (Plan G or Plan N, for example)
- Your coverage effective date
It pays to have a professional do a rate comparison for you rather than selecting a company blindly. In fact, one of the most common services we provide is saving clients money on their Medicare Supplement!
Check out some of our past case studies:
- Patty Gogerty Saves Couple $1,600 on Medigap Plans
- Taylor Thomas Saves Client Over $1,200 On Her Medicare Supplement
- Michael Sams Helps Couple Save $960 On Medigap Plan G
It can be frustrating to hear that there’s no simple answer to the question: what is the best Medicare Supplement plan?
However, our licensed insurance agents here in central Illinois make it easy. They can answer this question for you based on your personal information and preferences.
Whether you’re looking for a Medigap plan for the first time or you want to do a price comparison, our agents can help you find the right Illinois Medicare Supplement plan for 2023.