Blue Cross Blue Shield (BCBS) is one of the companies that provides Medicare supplemental insurance, helping you pay less for copays and deductibles in exchange for a relatively low monthly premium in addition to your Medicare premium.

What Is Blue Cross Blue Shield?

Established in 1929, BCBS is one of the most well-known insurance providers in the United States. It’s a household name that includes 36 different independent health insurance companies throughout the country (e.g., Anthem, Highmark, Regence, etc.). Nearly 95 percent of healthcare providers, hospitals, and specialists accept BCBS insurance. And BCBS provides health insurance to over 106 million Americans, making it the largest insurance network in the nation.

Blue Cross Blue Shield Medicare Supplement

As you’re shopping for your Medicare supplement plan, you’ll find that some details vary by state, but that supplement plan policies are standard in the forms of Plans A through N. Blue Cross Blue Shield Medicare supplement insurance plans A through G typically have higher premiums and less out-of-pocket expenses. Plans K through N are all pretty similar to each other, having lower premiums, but higher out-of-pocket costs. We know it can be confusing with all of these different options, each with their pros and cons. Medicare supplemental insurance is constantly evolving.

The most popular BCBS Medicare supplement plans are Plans F, G, and N. Plans F and G have higher premiums but offer lower out-of-pocket expenses. Plan F also has a higher deductible to keep your monthly premiums lower. This is a good choice for you if you have a significant amount of savings and can afford a higher deductible. Plan N offers lower monthly premium costs with moderate out-of-pocket expenses.

Additional Benefits of Blue Cross Blue Shield Medicare Supplement

In addition to helping cover your medical expenses and helping you avoid drowning in medical debt, some BCBS Medicare supplement policies offer additional benefits beyond standard coverage that is mandated by the government. These include dental and vision benefits, under certain plans. You may also get discounts on items that your original Medicare plan doesn’t cover, such as heart rate monitors and Lasik surgery.

Blue Cross Blue Shield Medicare Supplement Pricing Plans

Not all health insurance companies are created (or priced!) equally, so you’ll want to compare rates before you make your decision. BCBS monthly premiums vary based on your location and other factors. For example, you may get a discount on your premium if you are a non-smoker, have low cholesterol, or set up automatic electronic payments from your bank account to pay your premium each month.

Bonus: Blue Cross Blue Shield offers perks for members such as discounts on fitness, hearing, vision, cell phone plans, and other deals.

Let’s dive into the pros and cons of BCBS Medicare Insurance.

Pros

  • Flexibility to see any physician in the United States who accepts Medicare without a referral
  • Instant quotes online
  • Automatic annual re-enrollment in your plan (minimal annoying paperwork!)
  • Customer service available 24/7 via telephone, email, and letter mail
  • Some plans offer visual and dental coverage
  • Members get discounts on additional items such as Lasik surgery or gym memberships (depending on your plan and location)

Cons

  • Your copays for some services may not be covered, depending on your plan
  • Pricing varies from state to state; some states do not offer certain plans
  • Because BCBS is a federation of 36 health insurance companies, each with its own resources and website, it’s difficult to gauge member satisfaction with things such as customer service.

Conclusion

Blue Cross Blue Shield Medicare supplement insurance offers consumers enrolled in Medicare Parts A and B a reliable way to fill in the gaps that Medicare doesn’t provide and also help pay deductibles. Whatever your Medicare health insurance needs, Blue Cross Blue Shield has something to offer as a long-standing, wide-ranging, reliable health insurance provider.