Comprehensive Information on Medicare Supplemental Plans

A Medicare Supplemental Plan (Medigap) helps to cover some of the health care costs like copayments, coinsurance and deductibles that are not covered by Original Medicare. You must have Medicare Part A and Part B before applying for a Medicare supplement plan. Medicare supplemental plans only cover an individual and can be purchased from any licensed insurance company in your state. However, Medicare supplement plans don’t cover long-term care, vision or dental care, eyeglasses, hearing aids, or private-duty nursing. Other types of insurance plans like Medicare Advantage Plans, Medicare prescription drug plans, Medicaid, Tricare, Long term care insurance policies aren’t Medigap plans.

 

There are 10 Medicare supplement plan types available in most states, and each plan is labeled with a unique letter that tally with a certain coverage level. In most states excluding Minnesota, Wisconsin and Massachussets, Medigap plans have the same standardized benefits for each letter category. The plans are Plan A, Plan B, Plan C, Plan D, Plan F, Plan G, Plan K, Plan L, Plan M and Plan N respectively.

Plan A is the basic plan which covers the fewest benefits. Plans B, C and D are somewhat alike with few differences. Plans F and G offers the highest level of coverage of the 10 plans. If you need help with certain Original Medicare costs and you want a lower-cost supplement plan with very basic coverage, then Medigap Plan K is ideal for you. Plan L offers somewhat less coverage than other plans, but it does have a cap on your out-of-pocket spending, which most Medicare supplement plans don’t offer. Plans M and N offer good coverage but not all of their coverage are fully 100%. The table below shows more details of the plans.  For more comparisons on the plans go to Comparemedicaresupplementplans2019.com.

Key: “Yes” means the plan covers 100% of the benefit.

Benefits

 

Medicare Supplemental Plans

 

A B C D G K L M N
Medicare Part A coinsurance and hospital costs up to additional 365 days Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Medicare Part B coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes**
First three pints of blood Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Medicare Part A hospice coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Skilled Nursing Facility (SNF) coinsurance No No Yes Yes Yes Yes 50% 75% Yes Yes
Medicare Part A Deductible No Yes Yes Yes Yes Yes 50% 75% 50% Yes
Medicare Part B Deductible No No Yes No Yes No No No No No
Medicare Part B Excess Charges No No No No Yes Yes No No No No
Foreign Travel Emergency (Up to Plan Limits) No No 80% 80% 80% 80% No No 80% 80%
Out-of-Pocket Limit*** None None None None None None $5,240 $2,620 None None

Ensure you understand how the insurance company rates its premiums, so as to have an accurate idea of how much will be for your plan now and in the future.