Medicare Supplement Plan Comparison
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Medicare Supplement Plan Comparison – There are 10 Medicare Supplement Insurance plans lettered A through N. Each plan differs in the amount of coverage provided for the “gaps” left behind by Original Medicare. Medicare Supplement plans, also known as Medigap plans, are offered by private insurance companies licensed by Medicare. Each is required by Medicare to have standardized coverage and plan letters no matter which insurance company you purchase them from. The only difference you’ll find among plans is price of premium.
We have broken down the coverage of each Medigap plan below so you can make an informed decision about your healthcare coverage.
Which Medicare Supplement Plan is the best?
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The Medicare Supplement Plan F offers the broadest coverage, as seen in the table below.
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Plan F includes:
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The deductible for Original Medicare Part A
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Deductible for Part B
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Excess charges for Part B
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After Medicare benefits are fully utilized, Part A coinsurance and hospital fees for up to an additional 365 days are still incurred.
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Coinsurance or copayments for Part B
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The initial three pints of blood used during a legally permitted medical procedure.
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Coinsurance for skilled nursing facilities.
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80 percent of a travel emergency abroad (up to plan limits).
Plan F is one of the most popular Medigap plans because of the security it provides.
Due to its nearly identical coverage, Plan G is another supplement plan that is widely purchased. The only deductible for Medicare Part B, which is only $185 in 2019, is not covered by Plan G. It can make financial sense to pay the one-time Plan B deductible and save on the monthly premium of your supplemental plan if you can discover Plan G for a lot less money than Plan F.
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What do Medicare Supplement Plans cover?
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Instead of the above chart, we have included a list with a brief summary of what each Medigap plan covers below for your convenience.
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Medigap Plan A
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The most fundamental Medigap plan is Medigap Plan A. It covers the first three pints of blood used during a medical procedure, Part B coinsurance or copayment, Part A hospice care coinsurance or copayment, and the 20% of Part A coinsurance and hospital costs that Original Medicare doesn't cover. Therefore, it continues to be a very successful cost-cutting strategy.
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Medigap Plan B
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The first three pints of blood used during a medical treatment, Part B coinsurance or copayment, and Part A hospice care coinsurance or copayment are all covered by Medigap Plan B. However, Plan B also covers the Medicare Part A deductible.
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Medigap Plan C
All of your Original Medicare out-of-pocket expenses, with the exception of Part B excess charges, are covered by Medigap Plan C. It even pays for 80% of an emergency while traveling abroad (up to plan limits). One of the most thorough supplement schemes is Plan C.
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Medigap Plan D
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All of your Original Medicare out-of-pocket expenses, excluding the Part B deductible and excess charges, are covered by Supplement Plan D. Additionally, it pays for 80% of an emergency while traveling abroad (up to plan limits).
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Medigap Plan F
80 percent of a foreign travel emergency's out-of-pocket expenses and all Original Medicare out-of-pocket expenses are covered by Medigap Plan F. (up to plan limits). Due to its comprehensiveness, Plan F is one of the most often used Medicare Supplement insurance packages.
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Medigap Plan G
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Almost all Original Medicare out-of-pocket expenses are covered by Medigap Plan G, as well as 80% of emergency medical expenses incurred while traveling abroad (up to plan limits). The deductible for Part B is the only thing it doesn't cover. Due to the lower monthly premiums, it can occasionally be advantageous to choose Medigap Plan G over Plan F because the deductible is only a few hundred dollars.
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Medigap Plan K
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Three pints of blood during a medical procedure, Part A hospice care coinsurance or copayment, skilled nursing facility coinsurance, and Medicare Part A deductible are all covered under Plan K to a 50 percent extent.
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Medigap Plan L
Medicare Part A hospice care coinsurance or copayment, Medicare Part A deductible, skilled nursing facility coinsurance, and three pints of blood during a medical procedure are all covered by Plan L to a 75 percent extent.
Medigap Plan M
Medicare Part A hospice care coinsurance or copayment, skilled nursing facility coinsurance, and Medicare Part A deductible are all covered by Plan M. It also pays for three pints of blood used during a medical treatment and all of your Medicare Part B deductibles or copayments. It also pays for 80% of medical expenses incurred when traveling abroad and 50% of your Part A deductible.
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Medigap Plan N
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All of your Original Medicare out-of-pocket expenses, excluding the Part B deductible and excess charges, are covered by Medigap Plan N. It even pays for 80% of an emergency while traveling abroad (up to plan limits). One of the most thorough supplement programs is Plan N.
You only have to pay a $20 copay for some doctor's office visits and a $50 copay for ER visits if you aren't admitted as an inpatient as part of your Medicare Part B coinsurance or copayments.
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