Medicare Supplements
Medicare Supplement plans, also called Medigap, protect millions of beneficiaries from out-of-pocket healthcare costs, such as deductibles, coinsurance, copayments, and hospital costs. These expenses aren’t covered by Medicare. Medicare Supplement Plans are offered and managed through private insurance companies approved by Medicare.
Additional Medigap Benefits
While Medigap plans help fill in the “gaps” left over by Original Medicare, they may offer additional benefits, including:
- Healthcare when traveling abroad
- No referrals are required to see a specialist
- Some plans have ZERO out-of-pocket costs
- You get to choose your primary care doctor and can visit any hospital that accepts Medicare Assignment
- Once you have a plan, you can’t be removed from it for health reasons
Medicare Supplement Plans
The 10 Medicare Supplement Plans are: A, B, C, D, F, G, K, L, M, and N. High deductible versions of F and G are available in select areas. The regular versions of Plans F and G are popular due to their high levels of coverage.
Every Medigap private insurance company carrier has to follow Medicare’s guidelines for standard coverage. No matter which carrier you buy your plan from, the policy includes the same benefits. The monthly premium will be the only difference.
How Do Medicare Supplements Work
First, you must be enrolled in both Parts A and B (Original Medicare), then you may enroll in a Medigap plan. This is called the Medicare Supplement Open Enroll Period, and you get six months from when you have Part B coverage to pick a plan. Unlike other Medicare enrollment periods, this is a one-time thing — not an annual period — in which you won’t be denied for health reasons or charged a higher premium.
When you receive medical services, your bill will first go to Medicare. Medicare will pay its portion (about 80% of the costs), and the remainder will go to your Medigap plan. Your plan will cover most, if not all, of the expenses. The amount that your plan doesn’t pay will then be your responsibility.
Do I Need A Medicare Supplement
It depends on your health. Like Medicare Part D, Medicare Supplement insurance is optional. But without it, you’ll bear the responsibility of the remaining 20% of outpatient costs. Millions of Medicare users buy a Medigap policy for its cost-saving measures and peace of mind.
Medicare Supplement Plans Comparison
Ten Medigap plans are labeled as A, B, C, D, F, G, K, L, M, and N. Each plan offers unique coverage, and the price of premiums will differ. However, you should know that Plans C and F are no longer available to people who became Medicare eligible after January 1, 2020.
What Do The Medicare Supplements Plans Cover
Here’s a snippet of what each Medigap plan covers. Plans F, G, and N are the most popular because of their coverage.
Medigap Plan A
Plan A is the most basic. It covers 100% of:
- First three pints of blood
- Part A hospice care coinsurance
- Part A coinsurance and hospital costs
- Part B coinsurance and hospital costs
Medigap Plan B
Plan B covers 100% of:
- Part A deductible
- First three pints of blood
- Part A hospice care coinsurance and hospital costs
- Part B coinsurance and hospital costs
Medigap Plan C
Plan C covers 100% of:
- Part A deductible
- Part B deductible
- First three pints of blood
- Skilled nursing facility care
- Part A hospice care coinsurance
- Part A coinsurance and hospital costs
- Part B coinsurance and hospital costs
It also covers 80% of foreign travel emergency care.
Medigap Plan D
Plan D covers 100% of:
- Part A deductible
- First three pints of blood
- Skilled nursing facility
- Part A hospice care coinsurance
- Part A coinsurance and hospital costs
- Part B coinsurance and hospital costs
It also covers 80% of foreign travel emergency care.
Medigap Plan F
Plan F covers 100% of:
- Part A deductible
- Part B deductible
- Part B excess charges
- First three pints of blood
- Skilled nursing facility care
- Part A hospice care coinsurance
- Part A coinsurance and hospital costs
- Part B coinsurance and hospital costs
It also covers 80% of foreign travel emergency care.
Medigap Plan G
Plan G covers 100% of:
- Part A deductible
- Part B excess charges
- First three pints of blood
- Skilled nursing facility care
- Part A hospice care coinsurance
- Part A coinsurance and hospital costs
- Part B coinsurance and hospital costs
It also covers 80% of foreign travel emergency care.
Medigap Plan K
The benefits of Plan K slightly differ from the rest. Plan K covers 100% of the Part A coinsurance and hospital costs. Then, it covers 50% of:
- Part A deductible
- First three pints of blood
- Skilled nursing facility care
- Part A hospice care coinsurance
- Part B coinsurance and hospital costs
Medigap Plan L
Plan L is a little different, as well. It covers 100% of the Part A coinsurance and hospital costs. Then, it covers 75% of:
- Part A Deductible
- First three pints of blood
- Skilled nursing facility care
- Part A Hospice Care Coinsurance
- Part B coinsurance and hospital costs
Medigap Plan M
Plan M covers 100% of:
- Part A coinsurance and hospital costs
- Part A hospice. are coinsurance, and Part B includes coinsurance and hospital costs
- Part B coinsurance and hospital costs
- Skilled nursing facility care
- First three pints of blood
- Plan M also covers 50% of the Part A deductible and 80% of foreign travel emergency care.
Medigap Plan N
Plan N covers 100% of:
- Part A deductible
- First three pints of blood
- Skilled nursing facility care
- Part A hospice care coinsurance
- Part A coinsurance and hospital costs
- Part B coinsurance and hospital costs
It also covers 80% of foreign travel emergency care.