Guidance for retirees in Richmond & Loudoun County — Medigap plan help plus life insurance cross-sells for final expenses, legacy, and peace of mind.
Medicare Supplement plans (also called Medigap) are sold by private companies to help pay some of the out-of-pocket costs that Original Medicare (Part A & B) doesn’t cover — things like copays, coinsurance and hospice care coinsurance. To learn more on the official site, see Medicare.gov — Medigap Overview.
If you're comparing options, we can prepare side-by-side Medigap quotes and show life insurance options that make sense for retirement planning. Request local help or call (804) 551-9526.
Medigap plans are standardized in Virginia and most states — plans are labeled by letters (Plan A, B, C*, D, F*, G, K, L, M, N). (Note: Plans C & F are no longer available to new Medicare enrollees who became eligible after January 1, 2020.) See the official plan comparison at Medicare.gov — Compare Medigap.
Plan G covers almost everything except the Medicare Part B deductible. It’s often the best balance of coverage and affordability for new retirees.
Plan N has lower premiums but requires copays for some office visits and ER visits. Good for retirees willing to trade small copays for monthly savings.
Plan F covers the Part B deductible but is only available if you were eligible for Medicare before Jan 1, 2020.
For detailed plan costs and enrollment rules, use Medicare.gov or call the Virginia State Health Insurance Assistance Program for free local counseling (SHIP).
Medigap handles medical gaps — life insurance handles cash needs at death. Retirees commonly consider:
Small, guaranteed-issue or simplified issue whole-life policies designed to cover funeral and final bills. Easy to qualify for and quick to arrange.
Permanent policies that build cash value. Useful for legacy planning, leaving a tax-free benefit, or providing a cash source in later years.
Short term policies (5–10 years) can be used to cover a temporary need — for example, to protect a non-retired spouse or bridge until other assets are in place.
For clients with health issues, guaranteed-issue policies (usually final-expense) are available without health questions — at higher premium levels for the coverage amount.
For an easy walkthrough of life insurance basics for seniors, see Policygenius — Life Insurance for Seniors.
Mrs. H. (age 72) selected Medigap Plan G for predictable medical cost coverage and bought a $10,000 final-expense whole life policy to cover funeral costs so her children won't have that burden.
Ages 66 and 64. Chose Plan N to save on premiums and purchased a small whole-life policy for legacy purposes; compared guaranteed-issue options due to a recent health event.
Age 78. He has fixed income and favored a guaranteed-issue final expense plan to guarantee coverage and simplify his estate planning.
These examples are illustrative. We prepare personalized comparisons showing Medigap pricing vs. life-insurance needs so you see the full picture.
Need local counseling? Contact Virginia’s SHIP for free help, or request a personalized comparison from our office. (Official Medicare guidance: Medicare.gov.)
Sometimes — guaranteed issue rights and open enrollment windows vary. If you miss initial windows, you may face underwriting. Contact Medicare.gov or your local SHIP counselor for state-specific rules.
No — life insurance and Medigap are separate products. Buying life insurance does not change your Medicare eligibility or your ability to enroll in Medigap, but underwriting rules differ by product.
Contact your local State Health Insurance Assistance Program (SHIP) for free, unbiased counseling. Medicare.gov lists SHIP contacts by state: Medicare.gov — Contact SHIP.
Return to the Virginia Life Insurance Hub to explore Term, Whole, Final Expense, and specialized pages.
