Medicare Supplement Plans
What is a Medicare Supplement plan?
A Medicare Supplement Plan is an additional policy that you purchase to pick up your portion of the costs left over by Original Medicare.
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They are exactly the same from carrier to carrier.
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The coverage levels are represented by letters such as Plan F, Plan G, and Plan N.
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They allow you to go to any doctor nationwide without referrals
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They do not include any prescription coverage.
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They only cover items that are covered by Original Medicare, If Original Medicare does not cover the item; neither will the Medigap
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You can change your plan at any time.
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You may be subject to medically qualifying to do so
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They are portable meaning they will follow you to a new area if you move, keep in mind moving into a new area could have different pricing and you could be adjusted to it. - Always check if moving, you could get the same plan level coverage for a lower price than you are currently paying.
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Monthly premium, usually 100+ a month depending on your state, carrier, and the plan you choose.
Medicare Supplement Plans Types
What do the Medicare Supplement plan letters represent?
Plan letters represent the level of coverage of the Medigap plan. Each plan's coverage varies depending on the plan letter. Most states use standardized plans, the exceptions are Wisconsin, Minnesota, and Massachusetts.
In all other states, the coverages are explained simply below, This is a brief overview of what each plan will cover.
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Plan A:
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Covers your first 90 days of inpatient coverage at a hospital after you pay your Medicare Part A deductible.
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After you meet your yearly Part B deductible, this plan will cover your 20% after Medicare pays its 80%.
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Plan B:
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Covers everything Plan A covers. It also covers the Medicare Part A deductible
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Plan C:
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After Medicare pay's its portion, Plan C will cover all of the costs leftover that you would usually pay, except the Excess Charges.
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Plan C also has some foreign travel protection
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Plan D:
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Plan D has the exact same coverage as Plan C, with 1 exception. It does not cover the Part B deductible.
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Plan F:
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Plan F is Identical to plan C; it covers all your portion of the costs. The only difference between Plan C and Plan F is that Plan F also pays the excess charges.
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Plan F has a High Deductible option. You will pay all Medicare costs as if you have only original Medicare until the plan deductible is met, Once it is met the plan will pick up the remainder of the costs.
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Plan G:
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Plan G is identical to F in every way, except it does not cover the part B deductible.
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Once the deductible is met the plan G will cover the rest of your Medicare A and B costs.
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Plan G has a High Deductible option. You will pay all Medicare costs as if you have only original Medicare until the plan deductible is met, Once it is met the plan will pick up the remainder of the costs
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Plan K:
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Plan K is a little more complicated
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It has a maximum out-of-pocket on spending.
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It pays 50% or your portion of medicare costs.
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Does not cover excess charges
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Plan L
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Similar to Plan K; Plan L is also more complicated than other Medigap Plans.
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It has a Maximum out-of-pocket on spending.
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It pays 75% or your portion of medicare costs.
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Does not cover excess charges
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Plan M
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Plan M is identical to Plan B except instead of paying the full part A deductible, Plan M pays 50% of the part A deductible.
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Plan N
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This is one of the most popular plans out currently. It works similar to Plan G; however, instead of covering the full 20% leftover by Medicare, it has a $20 copay for doctor visits and $50 for the emergency room.
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The Urgent care is a $0 copay on Plan N
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Does not cover excess charges
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