Alaska's Best Medicare Supplement Plans & Companies
If you're a resident of Alaska currently enrolled in Original Medicare, you have the option to bolster your Part A and Part B coverage with Medicare Supplement Insurance (Medigap plans). In Alaska, there are ten distinct plan options, each designed to cover various out-of-pocket expenses.
In this article, we delve into the top Alaska Medigap plans and insurance companies for plan year 2024.
Table of Contents
What You Need to Know
- Private insurance companies offer supplemental Medicare insurance in Alaska, not the government.
- Supplemental Medicare insurance is available in 10 different plan options, labeled A through N, each providing a different level of Medicare coverage.
- Alaska residents become eligible for supplemental Medicare insurance at age 65.
- All plans offer coverage for Medicare Part A coinsurance and hospital costs, Medicare Part B copayments or coinsurance, and the first three pints of blood.
- Most plans also cover the Medicare Part A deductible and Skilled Nursing Facility coinsurance.
- It's important to note that Medicare Supplement Insurance does not cover long-term care, vision, dental, hearing aids, or private-duty nursing.
- The average costs for a 65-year-old can vary significantly based on factors such as gender, tobacco use, your location in Alaska, and the level of coverage you select.
- A Medicare Supplement Plan is not classified as health insurance; it falls under indemnity insurance and operates under its own set of rules.
The 5 Best Alaska Medigap Plans
There are 10 different Medigap plans. Plans are labeled A through N and standardized by the federal Medicare program.
The best plans in Alaska for the 2024 plan year are Medicare Supplement Plan F, Plan C, Plan D, Plan G, and Plan N. They are the best because they offer the most coverage.
But is one of these plans the best for you?
A good way to understand each of the 10 plans is to look at a Medigap plan chart, which shows how each plan helps Alaska residents pay their Medicare Part A and Medicare Part B deductibles, coinsurance, and copayments.
NOTE: Medicare Part A and Medigap Plan A sound similar. However, they are different, as are Medicare Part D and Medigap Plan D. Medicare organizes its benefits in “parts,” whereas private insurance companies sell “plans.” The topics are easily confused.
How to Choose the Best Medicare Supplement Plan in Alaska
Every Medicare beneficiary has unique requirements. Your age, gender, Alaska zip code, utilization of medical services, preferred healthcare providers, emergency care needs, and necessities for medical supplies and durable equipment all contribute to the factors you must consider.
These factors play a significant role in determining your available plan options. It's essential to carefully assess your needs for outpatient and inpatient care when deciding.
When Best = Maximum Coverage Throughout Alaska
Most insurance experts agree that Plan G is the best option in Alaska if you are signing up for Medicare with one or more chronic health issues. It offers the most coverage you can buy if you qualify for Medicare on or after January 1, 2020.
NOTE: Plan F offers more coverage than Medicare Supplement Plan G, but it costs significantly more, and it is only available if you qualify for Medicare before 2020.
- Get Plan F and Plan G Quotes in Your Zip Code
- See All Companies Offering Plan F in Alaska
- See All Companies Offering Plan G in Alaska
When Best = Good Coverage & Monthly Savings
If you're enrolling in Medicare and find yourself in excellent health or in need of solid coverage but are concerned about the cost of Plan G, consider Medicare Supplement Plan N as a viable option. Plan N provides comprehensive coverage everywhere in Alaska for inpatient hospital stays and most medical expenses.
Plan N is a suitable choice for healthy individuals due to its cost-sharing feature. In exchange for lower monthly premiums, beneficiaries in this plan are responsible for a modest copayment for doctor's office visits (up to $20) or emergency room visits (up to $50).
When Best = Most Affordable Coverage in Alaska
Not everyone in Alaska needs or can afford comprehensive coverage. When your monthly premium amount is a concern, ask your insurance agent to advise you on Medicare Supplement Plan K and High Deductible Plan G (HDG).
These are the two lowest-cost plans available. Many savvy Alaska seniors prefer these plan options over a Medicare Advantage plan.
Are Plan A, B, C, D, L, and M Offered in Alaska?
In Alaska, Medicare Supplement Plan A is the most basic coverage option available. Interestingly, in many areas, its cost surpasses that of Plan N. Would you pay more to get less coverage?
While Medicare Supplement Plan C and Plan D offer coverage similar to Plan G, they come with a higher price tag. Furthermore, akin to Plan F, Plan C is exclusively available to Alaska beneficiaries who enrolled in Medicare prior to 2020.
It's important to note that only a handful of insurance companies in Alaska offer Plan L or Plan M. They rarely pan out as a good option.
What Makes One Insurance Company Better than Another?
Every Medicare Supplement Insurance provider operating in Alaska is bound by federal and state insurance regulations. They are required to offer the standardized Medigap plans identified by letters A through N.
For example, a Plan F policy from Aetna Medicare covers the same out-of-pocket costs as a Plan F policy from Mutual of Omaha, United Healthcare, Humana, Cigna, or Blue Cross Blue Shield. This standardization simplifies the comparison of Medigap plans, setting them apart from the variability often found in Medicare Advantage plans.
The crucial difference is the financial strength and quality of the carrier and how they rate their plan for annual premium increases. It's critical to do your research and get the rate increase history on the company you're considering.
Alaska state laws may influence the plans offers, rating methods available, and enrollment qualification. Visit the Alaska Department of Insurance website at http://www.commerce.state.ak.us/insurance for more information.
Medicare Supplement Plan F Companies in Alaska
Medicare Supplement Plan F (Medigap Plan F) is Alaska’s most popular Medigap plan. Here are the 10 best companies that offer Plan F policies in Alaska based on our reviews (click for details):
Required Benefits of Plan F in Alaska
Medigap Plan F is standardized like all Medicare Supplement Plans in Alaska. Insurance carriers are required to cover certain benefits. Plan F is the most comprehensive plan because it covers all gaps in Original Medicare.
Although Original Medicare does not cover foreign travel medical emergencies, Plan F does (up to 89%). In addition to this extra benefit, companies may offer limited additional features. One example is Physician Mutual’s Preventive Care and Hearing Loss Testing benefits.
Medicare Supplement Plan G Companies in Alaska
Medicare Supplement Plan G (Medigap Plan G) is rapidly gaining popularity with Alaska seniors. With Plan F no longer available to new Medicare beneficiaries, Plan G is the new gold standard. Here are the 10 best insurance companies that offer Medigap Plan G policies in Alaska based on our reviews (click for details):
Required Benefits of Plan G in Alaska
All Medigap plans in Alaska, including Medigap Plan G, are standardized. Insurance companies must provide the standard coverage. Plan G covers all gaps in Original Medicare except the Part B deductible. And it only covers 80% of foreign travel medical emergencies that fall within your policy’s limits.
Companies may offer additional features like UnitedHealthcare’s fitness program, Renew Active, or the Silver Sneakers fitness program.
Medicare Supplement Plan N Companies in Alaska
Medicare Supplement Plan N is similar to Plan D (not to be confused with Medicare Part D) but covers Medicare Part B coinsurance costs differently. Due to its lower cost and good coverage, it's catching the attention of many Arizona seniors. Here are the 10 best insurance companies that offer Medigap Plan N policies in Alaska based on our reviews (click for details):
Required Benefits of Plan N in Alaska
All Medicare Supplement Plans in Alaska are standardized, including Medigap Plan N. Like Plan G, Plan N does not cover the Part B deductible. It also does not cover Part B excess charges. But it does cover 80% of foreign travel medical emergencies up to the policy’s limits.
Medicare limits the types of extra benefits companies can offer. One excellent additional benefit is UnitedHealthcare’s NurseLine, which lets you talk to an experienced nurse, day or night.
Medcare Eligibility for Medigap Plans
You can apply for Medigap coverage during your Medigap Open Enrollment Period (OEP). This six-month window starts when you enroll in Medicare Part B. Alaska may have additional rules after your OEP ends.
Medicare eligibility rules grant you Medigap protections during your Medigap Open Enrollment Period. This means that, regardless of your health history or any chronic conditions, you can secure a Medicare Supplement Plan during this period from any insurance company that offers Medigap in Alaska.
Enrolling in a Medigap plan in Alaska typically involves consulting with a licensed insurance agent. If you don't already have one, we recommend reaching out to HealthCompare, an Allstate company, at 1-855-728-0510 (TTY 711). They have licensed agents nationwide, and there's no obligation.
Is a Medicare Supplement Right for You?
When a Medicare Supplement Insurance Plan May Be a Good Fit:
- You anticipate needing frequent healthcare services now or in the future and prefer to limit your deductibles and co-pays.
- You have the financial means to comfortably afford the monthly premiums associated with Medicare Supplement Insurance and do not qualify for Medicaid.
- You value the freedom to choose your healthcare providers and doctors without the constraints of network restrictions.
- You require nationwide coverage and/or plan to travel abroad.
- You are in your Initial Enrollment Period, granting you guaranteed issue rights to enroll in a Medigap plan, regardless of your current health condition.
- You want to avoid the constraints, referrals, and pre-authorization requirements associated with Medicare Advantage plans.
When You May Want to Consider Alternatives to a Medicare Supplement:
- You do not anticipate the need for frequent healthcare services now or in the future.
- You missed your Medigap open enrollment period and cannot pass medical underwriting to obtain your preferred Medigap policy.
- You prefer a Medicare Advantage plan with low or no monthly premiums.
- You already have Medicaid, TRICARE, VA benefits, retiree benefits, or other coverage options that cover most of your Medicare out-of-pocket expenses.
- You are interested in an HMO or PPO plan with a Part D prescription drug plan, Silver Sneakers, and routine dental, vision, and hearing care.
- You are comfortable adhering to the rules and limitations of a Medicare Advantage plan.
Alternatives to Alaska Medicare Supplement Plans
If you have decided that a Alaska Medicare Supplement Plan is not right for you, or that none of the 10 plan types works with your budget, there are several options:
- Stick with Original Medicare, add a Medicare Part D plan for prescription drug coverage, and pay all Part A and Part B deductibles, coinsurance, and copays costs out-of-pocket. NOTE: This is very risky, no matter how healthy you are.
- If you qualify for both Medicare and Medicaid, or have a serious health condition, enroll in a Medicare Advantage Special Needs Plan.
- If you have VA health benefits, get all of your healthcare from your nearest VA hospital. When you do, the VA will bill Medicare and pay the remainder.
- Enroll in a Medicare Advantage Plan with a low maximum out-of-pocket (MOOP) limit and reasonable copayments.
It's important to carefully weigh your options and consider your unique healthcare needs when deciding on the right path for your Medicare coverage. Each choice comes with its own advantages and considerations. If you require further guidance or have questions about the options available to you in Alaska, don't hesitate to reach out to our preferred agency, HealthCompare, at 1-855-728-0510 (TTY 711).
Next Steps
The next step is to get a FREE Medigap Rate Comparison Report. It will arm you with all of the information you need to make an informed decision.
Get Your Free Medicare Supplement Rate Comparison
MedicareWire is a Medicare consulting agency. We are not insurance agents. Our job is to help people navigate Medicare without marketing interference.
Our free report will show you rates from all carriers without a sales pitch. No Calls. No Email Spam. No Kidding!
If you would prefer to speak with an agent, our preferred, nationwide agency is HealthCompare, an Allstate company. Give them a call at 1-855-728-0510 (TTY 711).
Citations & References
- Costs of Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- What's Medicare Supplement Insurance (Medigap)?, Medicare.gov, Last Accessed October 4, 2023
- Find a Medigap policy that works for you, Medicare.gov, Last Accessed October 4, 2023
- How to compare Medigap policies, Medicare.gov, Last Accessed October 4, 2023
- How Original Medicare works, Medicare.gov, Last Accessed October 4, 2023
- Your Medicare coverage choices, Medicare.gov, Last Accessed October 4, 2023