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Illinois Medicare Supplement Plans for 2021

Illinois Medicare Supplement Plans for 2021

In 2021, 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 29 Medicare Supplement companies that offer these supplemental plans in Illinois for 2021. There are nationally-recognized companies you’ve probably heard of, like Blue Cross Blue Shield and Aetna, as well as some lesser-known names, such as Lumico and CSO.

There are 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 2021.

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Medicare Supplement plans available in 2021

Medicare Supplement plans are named by letter, such as Plan F or Plan G. These plans 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 2021, 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, including Plans E, H, I, and J. In general, if you already have one of these plans, you can keep it.

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. 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

* Plans F and G also offer a high-deductible plan in some states. With this option, you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount of $2,370 in 2021 before your policy pays anything. (Plans C and F won’t be available to people who are newly eligible for Medicare on or after January 1, 2020.)

** For Plans K and L, after you meet your out-of-pocket yearly limit and your yearly Part B deductible ($203 in 2021), the Medigap plan pays 100% of covered services for the rest of the calendar year.

*** Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.

What is the best Medicare Supplement plan for 2021?

So, what is the best Medicare Supplement plan in Illinois for 2021? 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 is still a great buy. If you were first eligible for Medicare after January 1, 2020, Plan G or Plan N would likely be your best buys.

Plan F

Since Plan F is no longer available to new Medicare beneficiaries, you’d think we wouldn’t be selling much of it. However, the opposite is true! Plan F is still a favorite here at Sams/Hockaday for those who were eligible for Medicare before January 1, 2020.

The prices on Plan F have never been better, and that’s because now, you have to pass health questions to purchase a Plan F. In the past, it was one of the only plans that were Guaranteed Issue, meaning anyone could get it – even those who usually wouldn’t be able to pass health questions.

The bottom line is Plan F has excellent rates right now for those who are eligible to buy it, making it a solid choice in 2021.

Plan G

For those who are newly eligible for Medicare, Plan G is likely the most popular Medicare Supplement plan available.

Plan G has the same coverage as Plan F except for one small thing: Medicare Part B’s deductible of $203 (as of 2021).

Your Guide to Medicare Parts A & B

Understanding your Medicare options is important, because making a decision without the facts can cost you money. See what Medicare, Medigap, and you – pay for.

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Medicare Guide

Plan N

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 and ER
  • 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 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 2021?

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 2021, the most competitive Medicare Supplement companies in central Illinois are:

  • Accendo/CVS Health – read our company review
  • Central States Health & Life Company of Omaha (CSO)
  • Lumico
  • ManhattanLife Assurance Company (MAC)
  • Capitol Life
  • Great Southern Life (GSL)

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 F or Plan G, for example)
  • Your coverage effective date

For example, let’s say you are a 65-year-old female, non-tobacco, living in zip code 62526, and you need an effective coverage date of January 1, 2021. You’ve decided on a Plan F, and you qualify for the household discount. The most competitive company for you is ManhattanLife Assurance Company (MAC).

On the other hand, let’s say you are a 70-year-old male, non-tobacco, living in zip code 62526.  You want a Plan G, and you do not qualify for a household discount. The most competitive company for you is Accendo/CVS Health.

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:

Conclusion

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 2021.

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