Medicare supplement comparison
Because Original Medicare does not pay 100% of health care cost, many beneficiaries purchase Medicare Supplement (Medigap) health plans. Medicare supplements help pay the costs of co-pays, co-insurance and deductibles. When beneficiaries are trying to decide which plan best meets their needs, they should look at a Medicare supplement comparison.
In order to apply for a Medicare supplement plan, beneficiaries must be enrolled in both Medicare Part A and Part B. Private health insurance companies offer Medicare supplement plans. CMS assigns letters to each plan and standardizes the all, for example all plan Ns provide the same exact coverage no matter what company sells them. Each carrier charges a different premium amount for the coverage they provide. Each plan letter differs by what they cover, out-of-pocket costs and premiums.
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A few things to know about Medicare Supplement plans
- There are 10 standardized Medicare supplement plan choices available in most states. The states of Massachusetts, Minnesota and Wisconsin use their own standard plans.
- Medicare supplement plans do not provide coverage for prescription drugs . Beneficiaries wo opt for a Medicare supplement plan will also need to purchase a PDP (prescription drug plan).
- Beneficiaries cannot purchase a Med Sup plan if they are enrolled in a Medicare advantage plan, although if they drop the Medicare advantage plan and go back to original Medicare It is important to note, in many states the beneficiary may have to go through underwriting before they are approved for coverage, unless it they enroll during specific G.I. periods.
- Supplement plans do not provide coverage for things such as; dental, eye exams, OTC benefits or long term care that are offered through MA/MAPD plans.
- These plans are guaranteed renewable. This means, companies that offer the plans cannot cancel the plan for health reasons. They can however, cancel plans if the beneficiary neglects to pay their premium.
- Several states offer Medicare supplement plans to Medicare beneficiaries under 65 with a qualifying disability. To get more information on what’s available in your area, visit your SHIP (state health insurance program).
Click here to watch a YouTube video on the difference between Medicare Supplement and Medicare Advantage plans
Medicare Supplement plan comparison chart
This chart shows what’s covered by each plan type.
Medigap Benefit
Plan A Plan B Plan C Plan D Plan F* Plan G* Plan
KPlan
LPlan M Plan N Part A coinsurance & hospital costs up to 365 additional days after Medicare benefits are used
Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Part B coinsurance or copayment
Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes** Blood (first 3 pints)
Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes Part A hospice care coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes Skilled nursing facility coinsurance X X Yes Yes Yes Yes 50% 75% Yes Yes Part A deductible X Yes Yes Yes Yes Yes 50% 75% 50% Yes Part B deductible X X Yes X Yes X X X X X Part B excess charge X X X X Yes Yes X X X X Foreign travel exchange (up to plan limits) X X 80% 80% 80% 80% X X 80% 80% Out-of-pocket limit**
N/A N/A N/A N/A N/A N/A ($7,060 in 2024)
($3,530 in 2024)
N/A N/A
Please note; beneficiaries can no longer purchase Plans E, H, I and J. If the client purchased one of the plans before June 1, 2010, they can you can remain enrolled in it. After Jan. 1, 2020, newly eligible beneficiaries are not able to purchase a Plan C or a Plan F. These are the only two plans that cover the Medicare Part B deductible. Beneficiaries who turned 65 before 1/1/20, are still eligible to purchase one of those plan options.
There are some states that offer a high deductible version of plan F and Plan G. Those who choose one of these plans pay a lower premium rate but pay their co-insurance, co-pays and deductible before their medical services are covered at 100%. The deductible amount in 2024 is $2,800.
** Plan N pays 100% of the Part B coinsurance, although some physicians charge a $20 co-pay for office visits and emergency rooms can charge $50 co-pay when your visit does not result in a hospital admission.
Keep in mind, the best plan choice is an individual decision and is based on several factors, including health , budget and the area you live in. That is why a licensed Medicare agent is a great source of information for making important health care decisions.
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