What are the different types of Medicare supplement plans?
All Medicare supplement policies
Plan A covers additional days in the hospital after Medicare benefits are exceeded, copayments and coinsurance, hospice care and up to three pints of blood.
Plan B covers everything that Plan A does and also covers the deductible required by Medicare Part A.
Plan C covers everything that Plan B covers as well as the deductible required by Medicare Part B, 80 percent of medical care costs occurred when traveling abroad and the coinsurance for stays in skilled nursing facilities.
Plan D is the same as Plan C, but it does not cover medical care costs occurred when traveling abroad.
Plan F covers everything covered by Plan C and also covers any excess fees charged by a doctor or hospital that Medicare does not cover.
Plan F—High Deductible
The high deductible version of Plan F has the same coverage as the standard Plan F, but individuals must pay a high deductible, often over $2000, before the policy covers anything.
Plan G covers everything the standard Plan F covers except that it does not cover the Medicare Part B deductible.
Plan K covers additional days in the hospital after Medicare benefits are exceeded and 50 percent of the following: Part B coinsurance, up to three pints of blood, hospice care, coinsurance for skilled nursing facilities and the deductible for Part A.
Plan L covers the same things as Plan K, but it pays 75 percent on the services where Plan K pays 50 percent.
Plan M covers additional days in the hospital after Medicare benefits are exceeded, copayments and coinsurance, hospice care, skilled nursing facility coinsurance and up to three pints of blood. It also covers 50 percent of the Part A deductible and 80 percent of charges while traveling abroad.
Plan N is identical to Plan M, except it fully covers the deductible for Part A and requires a small copay for office visits and trips to the emergency room.
A type of Medigap policy which typically charges lower premiums so long as the policyholders uses approved networks of hospitals and doctors.
Who should consider purchasing Medicare Supplement Insurance?
Anyone reaching retirement age should begin researching health insurance options for those 65 and over. Deciding on a plan before turning 65 may allow some consumers to get special discounts.
Older seniors may wish to purchase Medicare supplement insurance if they’re concerned about paying for an unexpected medical need.
People with qualifying disabilities
Individuals with qualifying disabilities, usually those that make them eligible for social security disability, may be allowed to purchase Medicare supplement insurance before they turn 65.
Affinity Group Members
Affinity groups like AARP may offer members advantages if they buy Medigap through the organization.
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