Illinois Medicare Supplement Plans for 2024

In 2024, 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.

We represent over two dozen Medicare Supplement companies that offer these supplemental plans in Illinois for 2024. 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. So we’re breaking it all down to bring you what you really need to know about Illinois Medicare Supplement plans in 2024.

Medicare Supplement Plans Available in 2024

Medicare Supplement plans are named by letter, such as Plan A or Plan G. These plans' benefits are standardized by the government, meaning the benefits of a Plan A 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 2024, 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 two most popular Medicare Supplement plans are Plan G and Plan N.

With Plan F getting more and more expensive (for those who can still buy it), Plan G is now the top choice with Plan N quickly gaining popularity as a promising alternative.

Our top suggestion for those enrolling in Medicare now is Plan G.

Plan G is the most popular option because:

• It offers the most coverage.
• The pricing makes sense for the benefits you get.
• It's the most widely available among the Medicare Supplement companies.

Medicare Supplement Plan Benefits Chart

Note: Plan C & Plan F aren’t available if you turned 65 on or after January 1, 2020, and to some people under age 65. You might be able to get these plans if you were eligible for Medicare before January 1, 2020, but not yet enrolled.

*Plans F & G offer a high deductible plan in some states.

**Plans K & L show how much they'll pay for approved services before you meet your out-of-pocket yearly limit and Part B deductible. After you meet them, the plan will pay 100% of your costsfor approved services.

***Plan N pays 100% of the costs of Part B services, except for copayments for some office visits and some emergency room visits.

What Is the Best Medicare Supplement Plan for 2024?

So, what is the best Medicare Supplement plan in Illinois for 2024? The frustrating answer is it depends.

Plan F

In the past, the most popular Medicare Supplement plan we sold here in Illinois was Plan F. It had the most comprehensive coverage, meaning your out-of-pocket costs would be $0 for any Medicare-approved expense.

Tip: 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.

But with the rising costs of Plan F, it's falling behind comparable plans like Plan G. Plan G doesn't cover the Part B deductible (set at $240 in 2024) but it covers just about everything else Plan F did at a lower premium, which could save you money in the long run.

So for 2024, Plan G would be our top recommendation followed by Plan N.

Plan G

In 2024, Plan G is emerging as 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 $240 (as of 2024).

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 (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 2024?

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 2024, some of the most competitive Medicare Supplement companies in central Illinois are:

• WoodmenLife
• ACE Medicare Supplement
• American Benefit Life (ABL)
• Allstate
• 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 at Sams/Hockaday is saving clients money on their Medicare Supplement!

We work with all the leading Medicare Supplement companies in central Illinois, ensuring you get the best coverage at the most competitive rates.

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

Conclusion

It can be frustrating to hear 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 2024.