High Deductible Medicare Supplement Plans in Maryland

High Deductible Medicare Supplement Plans in Maryland

Last updated on: November 08, 2022

With the large number of Medicare Supplement plans available in the state of Maryland, it’s easy to get confused when deciding which one is the best fit for you. Comparing plans is futile if you don’t first consider what your medical needs are. Once you’ve determined what kind of coverage you need, then you can take a look at the different plans and determine which one is best for you. This article aims to acquaint you with high deductible Medicare supplement plans in MD so that you may be more knowledgeable about this particular type of insurance and make an informed decision for you and your family.

What are considered High Deductible Medicare Supplement Plans in the state of Maryland? 

In Maryland, high deductible Medicare supplement plans (also referred to as high deductible Medigap plans) are intended to supplement Medicare Part A (inpatient/hospital coverage) and Medicare Part B (outpatient/medical coverage). These plans are offered by private insurance companies, so prices will vary depending on which company you purchase the plan from. In general, supplement plans aid you in covering the cost of healthcare services that are not paid for by Original Medicare. The high deductible plans do the same thing, but they offer lower premiums in exchange for higher deductibles. 

Once you meet your plan’s deductible, the insurance company will start paying for your covered healthcare services going forward. As the name suggests, these plans tend to have a higher yearly deductible than a regular health insurance plan. 

Out of the 10 Medigap Plans, Plan F and Plan G are the only ones that offer high-deductible versions. Remember, Plan F is not available to people who are newly eligible for Medicare or for anyone who turns 65 on or after January 1, 2020. However, if your enrollment period for Original Medicare is 2020 or later, you are eligible for high deductible Plan G, which is very similar to the high deductible version of Plan F. 

Maryland High Deductible Plan F 

As the name suggests, High Deductible Plan F is the high deductible version of the original Plan F. This version of Plan F is the less expensive option compared to the regular Plan F in regards to monthly premiums. Premiums for Original Medicare plans average around $200 per month, while High Deductible Medicare Supplement Plan F boasts a low premium between $40-80 per month. Original Medicare covers 80%, and Plan F will pay the remaining 20 percent of most covered services once you reach your deductible. Keep in mind that the deductible resets after each benefit period. You can have multiple benefit periods in one year. The annual deductible for the high deductible version of Plan F in 2021 is $2,370.

Maryland High Deductible Plan G

High Deductible Plan G is a new plan that was rolled out in January 2020. It operates the same way as a standard Plan G once you’ve reached the deductible amount. This means that once you’ve paid the required deductible of $2,370 for 2021, the plan takes over and will offer full payment for covered healthcare expenses for the remainder of the benefit period. As with High Deductible Plan F, you pay a reasonably low premium per month compared to what you would be paying if you were on the standard Plan G. The average monthly premium for High Deductible Plan G is between $40 and $90. 

Differences Between High Deductible Plan F & High Deductible Plan G in Maryland

The main difference between these two plans is that High Deductible Plan F covers the Medicare Part B deductible ($203 in 2021), and High Deductible Plan G does not. Also, as stated above, you can no longer sign up for Plan F if you aren’t previously qualified or enrolled in it. It’s important to note that just because Plan F pays for the Part B deductible doesn’t mean it’s the best deal. You can often save more money by signing up for Plan G.

Am I A Good Candidate For A High deductible Medicare Supplement Plan in MD?

High deductible Medicare supplement plans are a terrific option for beneficiaries who are medically fit and on the younger side. If you don’t need to visit doctors and specialists regularly for chronic conditions, these plans may be a good choice. If you find that you have a lot of health issues and need to see a doctor fairly regularly, high deductible plans might not be the best option for you. The out-of-pocket expenses would probably be too high, except in the face of a catastrophic health emergency. 

Are High Deductible Plans A Better Option For Me Than Medicare Advantage Plans in MD?

You should consider a high deductible plan if you’re in the market for health insurance plans with low premiums because they offer the additional advantage of lower out-of-pocket expenses in Maryland when compared to Medicare Advantage Plans. Another benefit is that you can visit any healthcare service provider in the US who accepts Medicare, which you can’t do if you’re on an Advantage Plan. On an Maryland Advantage Plan, you are restricted to a specific network of physicians. If you’re enrolled in Original Medicare and also have a high deductible supplement plan, you can visit any healthcare provider who accepts Medicare.

Enroll Medicare Maryland Can Help

Enroll Medicare is here to help you with all of your Medicare needs in MD. If you’re interested in a Medigap Plan but you aren’t sure which one is right for you, don’t hesitate to reach out to us. We have experts on staff in Maryland who can walk you through the pros and cons of all plans, and they can compare quotes for you so you can see exactly what you’d be paying each month. We want to make this process as easy as possible for you so you can take control of your health.


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