Medicare Supplement Plans, also known as Medigap, provide extra coverage after Medicare has paid its share, minimizing your out-of-pocket costs. There are numerous plans to choose from, giving you the chance to get one that works best for your coverage needs.
How Do Medicare Supplement Plans Work?
When you get a treatment or service that Medicare covers, you’ll still have out-of-pocket costs. This could be a deductible, or it may be your coinsurance. With a Medicare Supplement Plan, those leftover costs are turned over to your Medicare Supplement Plan instead of you.
What Are My Options?
These are the Medigap Plans:
- A
- B
- C
- D
- F
- G
- K
- L
- M
- N
Plans C and F are only available to those who turned 65 prior to January 1, 2020, as they are the only plans that cover the Part B deductible.
What Do Supplement Plans Cover?
The types of costs Medicare Supplement Plans can cover include:
- Part A deductible
- Part A coinsurance/copay (hospital)
- Part A coinsurance/copay (hospice)
- Skilled nursing facility coinsurance
- First three pints of blood
- Part B deductible
- Part B coinsurance
- Part B excess charges
- Foreign travel emergency costs (80%)
Not all Medicare Supplements cover the same items, and not all cover certain costs to the same extent – for example, Medigap Plan A covers the total remaining costs for Part B coinsurance, whereas Medigap Plan K covers 50% of those remaining costs.
Which Plan Has The Most Coverage?
Medigap Plan F offers the most coverage because it’s the only Medigap Plan that covers every expense. The second most comprehensive Medigap Plan is Plan G, which covers all items except for the Part B deductible.
What Is The Most Basic Supplement Plan?
Medigap Plan A is the most basic plan, as it strictly covers:
- Part A hospice coinsurance
- Part A hospital coinsurance
- Part B coinsurance
- First three pints of blood
Other plans cover all of these items, plus coverage for other types of costs.
Why Choose Plans K, L, M, and N?
These plans are the middle ground – they don’t limit their coverage to four items like Plan A, but they cover percentages of certain remaining costs instead of the entirety. This allows them to have a degree of comprehensiveness while also remaining more affordable than plans such as Plan F or Plan G.
Find Your Supplement Plan Today
At JA Agency, we’re committed to giving you affordable ways to meet your healthcare needs at the lowest price. When you call us, we’ll help you choose the Medicare Supplement that fits your coverage needs and budget. Don’t wait – call us today at (551) 795-1229.