Plan Variety
There are ten different types of Medicare Supplement insurance plans. They each provide additional layers of coverage and have unique selling points.
Each plan has its letter and varies in comparison to the others. The plans are labeled as A, B, C, D, F, G, K, L, M, and N. What plan an individual decides upon is a very personal decision and can be made quickly through the help of an insurance professional.
Which plan is right for you?
Picking a plan may seem complicated or overwhelming, so it’s always best to work with an insurance agent. They’ll be able to guide you through the process and provide the peace of mind that comes from knowing you have the advice of a professional.
Medigap plans can lower medical bills and provide some financial relief. If you’re questioning which Medigap policy is right for you, feel free to reach out, and we’ll help you find the plan you need.
Medigap Plan A
Medigap Plans are sold through private insurance companies, in the same way, that Medicare Advantage is. Each insurance company will have varying Medigap policies and will not always offer each plan. However, if the insurance agency provides Medigap policies, it must include Plan A.
Medigap Plan A does cover:
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- Medicare Part A hospital-related costs
- Medicare Part A coinsurance
- Medicare Part B coinsurance or copayment
- The first three pints of blood
- Medicare Part A hospice copayment or coinsurance
Medigap Plan A does not cover:
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- Coinsurance for skilled nursing care facilities
- Medicare Part A’s deductible
- Medicare Part B’s deductible
- Medicare Part B excess charge
- Foreign travel exchange
- There is no 2020 out-of-pocket limit
Is Plan A right for you?
If you’re looking for a Medigap plan covering some of the basic costs incurred through Medicare, Plan A might be suitable for you. It’s best to speak with an insurance agent who can examine your specific situation. Reach out to one of our agents today to determine if Plan A offers the coverage you need.
Medigap Plan B
Medigap Plan B is highly similar to Plan B, with only one significant change. The inclusion of Medicare Part A deductible coverage is what sets Plan B apart from Plan A.
Medigap Plan B does cover:
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- Medicare Part A hospital-related costs
- The first three pints of blood
- Medicare Part A coinsurance
- Medicare Part A’s deductible
- Medicare Part A hospice copayment or coinsurance
- Medicare Part B coinsurance or copayment
Medigap Plan B does not cover:
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- Medicare Part B excess charge
- Coinsurance for skilled nursing care facilities
- Foreign travel exchange
- Medicare Part B’s deductible
- There is no out-of-pocket limit
Reading to enroll in Plan B?
If you think that Medigap Plan B is the right choice for you, reach out to us today. We can discuss the enrollment process with you and help you examine all the different options.
Medigap Plan C
Medigap Plan C does cover:
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- Medicare Part A coinsurance and hospital-related costs
- Medicare Part B coinsurance or copayments
- The first three pints of blood
- Medicare Part A coinsurance or copayment for hospice care
- Coinsurance for skilled nursing facility care
- The Medicare Part A deductible
- The Medicare Part B deductible
- 80% of foreign travel exchange
Medigap Plan C does not cover Medicare Part B excess charges
Questions about Medigap Plan C?
While Plan C does provide a perfect amount of coverage, it is not available to anyone who became eligible for Medicare after January 1, 2020. If you want to learn more about your eligibility for Medigap Plan C, our team at Senior Insurance Consultants is ready and available to help in whatever way possible.
Medigap Plan D
Medigap Plan D does cover:
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- Medicare Part A coinsurance and hospital-related costs
- Medicare Part B coinsurance or copayments
- The first three pints of blood
- Medicare Part A coinsurance or copayment for hospice care
- Coinsurance for skilled nursing facility care
- The Medicare Part A deductible
- Foreign travel emergency coverage up to plan limits
Medigap Plan D does not cover:
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- Medicare Part B excess charge
- There is no out-of-pocket limit
- The Medicare Part B deductible
Are you considering Medigap Plan D?
Medigap Plan D is an excellent option for those that travel and may need care or treatment when out of the country. It also covers areas Medicare doesn’t, such as specific coinsurance and deductibles.
Medigap Plan F
Medigap Plan F does cover:
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- Medicare Part A coinsurance and hospital-related costs
- Medicare Part B coinsurance or copayments
- The first three pints of blood
- Medicare Part A coinsurance or copayment for hospice care
- Coinsurance for skilled nursing facility care
- The Medicare Part A deductible
- The Medicare Part B deductible
- Part B excess charge
- 80% of foreign travel exchange
Plan F also offers a high-deductible option. This option requires you to pay the deductible for the plan to start its coverage, which is the same as the traditional Plan F. The deductible amount you must bear in 2020 is $2,340.
Medigap Plan F is highly inclusive and an excellent option for many who want to maximize the possibilities of their supplement insurance. However, there are some restrictions on who can enroll in Plan F. Plan F is not available to anyone who became eligible for Medicare after January 1, 2020. To determine if you qualify for Plan F enrollment, talk to an insurance professional who can walk through the requirements with you.
Medigap Plan G
Medigap Plan G does cover:
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- Medicare Part A coinsurance and hospital-related costs
- Medicare Part B coinsurance or copayments
- The first three pints of blood
- Medicare Part A coinsurance or copayment for hospice care
- Coinsurance for skilled nursing facility care
- The Medicare Part A deductible
- Part B excess charge
- 80% of foreign travel exchange
Plan G also offers a high-deductible option. This option requires you to pay the deductible for the plan to start its coverage, which is the same as the traditional Plan G. The deductible amount you must bear in 2020 is $2,340.
Medigap Plan G does not cover:
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- The Medicare Part B deductible
This supplement option will work well for those who don’t plan on using Medicare Part B. It still offers coverage in various areas and is utilized by many to help reduce the cost of medical bills. If you want to enroll in Plan G, our Senior Insurance Consultants team can help you through the process.
Medigap Plan K
Medigap Plan K does cover:
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- Medicare Part A coinsurance and hospital-related costs
- 50% of Medicare Part B coinsurance or copayments
- 50% of the first three pints of blood
- 50% of Medicare Part A coinsurance or copayment for hospice care
- 50% of coinsurance for skilled nursing facility care
- 50% of the Medicare Part A deductible
- Part B excess charge
- Plan K has a 2020 $5,880 out-of-pocket limit.
Medigap Plan K does not cover:
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- Medicare Part B excess charge
- Foreign travel exchange
- The Medicare Part B deductible
Why choose Medigap Plan K?
One of the biggest reasons people choose Plan K is its out-of-pocket limit. This limit is yearly and can significantly reduce bills and relieve some financial stress. Our professionals at Senior Insurance Consultants are ready to answer any questions you may have and help you figure out if Plan K is suitable for you.
Medigap Plan L
Medigap Plan L does cover:
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- Medicare Part A coinsurance and hospital-related costs
- 75% of Medicare Part B coinsurance or copayments
- 75% of the first three pints of blood
- 75% of Medicare Part A coinsurance or copayment for hospice care
- 75% of coinsurance for skilled nursing facility care
- 75% of the Medicare Part A deductible
- Part B excess charge
- 80% of foreign travel exchange
- Plan L has an out-of-pocket limit of $2,940 for 2020.
Medigap Plan L does not cover:
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- Medicare Part B excess charge
- The Medicare Part B deductible
Why choose Medigap Plan L?
Plan L has the lowest out-of-pocket limit available, which is one of the biggest reasons this plan should be considered. Those with routinely high medical bills can significantly benefit from the utilization of this out-of-pocket limit.
Medigap Plan M
Medigap Plan M does cover:
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- Medicare Part A coinsurance and hospital-related costs
- Medicare Part B coinsurance or copayments
- The first three pints of blood
- Medicare Part A coinsurance or copayment for hospice care
- Coinsurance for skilled nursing facility care
- 50% of the Medicare Part A deductible
- 80% of foreign travel exchange
Medigap Plan M does not cover:
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- Medicare Part B excess charge
- The Medicare Part B deductible
There is no 2020 out-of-pocket limit for Medigap Plan M.
Wanting to enroll in Plan M?
If you think Plan M suits you, make an appointment today. Our professionals can help you go through all your options and provide peace of mind by working with an insurance consultant.
Medigap Plan N
Medigap Plan N does cover:
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- Medicare Part A coinsurance and hospital-related costs
- Medicare Part B coinsurance or copayments
- The first three pints of blood
- Medicare Part A coinsurance or copayment for hospice care
- Coinsurance for skilled nursing facility care
- The Medicare Part A deductible
- Part B excess charge
- 80% of foreign travel exchange
Medigap Plan N does not cover:
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- Medicare Part B excess charge
- The Medicare Part B deductible
There is no 2020 out-of-pocket limit for Medigap Plan N.
Is Medigap the right choice for you?
It’s always best to consider every option when enrolling in an insurance policy. Plan M is an excellent option for many and provides a high level of supplemental coverage. Our professionals at Senior Insurance Consultants are here to answer any questions you have.
High Deductible Plan F
Deductible
The high deductible Plan F option offers the same coverage as Plan F. The difference lies in when the Medigap policy will be paying. For high deductible Plan F, the beneficiary pays out-of-pocket until they meet their deductible, which is more expensive. Once the deductible has been completed, the Medigap policy coverage will begin.
For 2022, the deductible is $2,490.
Not quite sure about High Deductible Plan F?
Choosing insurance can be difficult, and supplemental insurance is no exception. If you have questions or want expert advice, you can set up an appointment with one of our professionals today.
However, it is essential to note that both Plan F and High Deductible Plan F are no longer available to any individual who was not eligible for Medicare before January 1, 2020.
High Deductible Plan G
Deductible
The high deductible Plan G option provides all the same coverage that Plan G does, just with a more expensive deductible. For high deductible Plan G, the beneficiary is responsible for paying for all costs until the deductible is met. Once the deductible has been completed, the Medigap policy coverage will begin.
For 2022, the deductible is $2,490
Is High Deductible Plan G right for you?
If you want all of Plan G’s coverage but aren’t sure if the high deductible policy is right for you, we can help. At Senior Insurance Consultants, we know how challenging picking an insurance plan can be. Our experts guide you through the process and make it as simple as possible.