The Ten Types of Medigap Plans

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The Ten Types of Medigap Plans

When you become eligible for Medicare benefits, you have two options before you to get those benefits – get them through Original Medicare (Part A and Part B) or through Medicare Advantage. Original Medicare plans cover hospitalization and outpatient services. Medicare Advantage also covers these benefits with some extra privileges. The first option is directly sold by the government while the second option is available from private insurance companies.

Even though Medicare Part A has no premiums to be paid and Part B has a small monthly premium, there are many additional expenses with the plans when they are used like, deductibles, copays and coinsurance amounts. Also, the coverage falls short of the requirements for many. So, they supplement the Original Medicare coverage with Medigap plans.

Medicare supplement Plans – Medigap

These are sold by private insurance companies to supplement the benefits and additional expenses of Original Medicare plans. Hence,they can only be used with Medicare Part A and Part B. You have to pay a monthly premium depending on the type of plan you choose apart from the Part B premium.There are ten standardized Medigap plans approved by Medicare with varying coverage and rates. The benefits for a particular Medigap plan is exactly same whichever company sells it. You should go through the benefits of each plan before deciding the most suitable one and then compare the rates for that same plan from a few different countries. The plans are named by letters of the alphabet – Plan A, B, D, F,G, K, L, M and N.

Medigap Plan A

This is the most basic plan and every insurance company is obligated to sell this plan if they sell Medigap plan. The benefits of this plan are included in every other plan. The main benefits are as follows –

  • Part A coinsurance/copayment and 365 days of extra hospital stay after Medicare benefits
  • Part B coinsurance
  • First three pints of blood
  • Part B coinsurance for preventive care
  • Part A coinsurance for hospice care

Medigap Plan B

  • Medicare Part A deductible

Medigap Plan C

  • Coinsurance for skilled nursing care
  • Part A deductible
  • Part B deductible
  • Foreign travel emergency costs up tp plan limits

Medigap Plan D

  • Coinsurance for skilled nursing care
  • Part A deductible
  • Foreign travel emergency

Medigap Plan F

  • Coinsurance for skilled nursing care
  • Part A deductible
  • Part B deductible
  • Part B excess charges
  • Foreign travel emergency up to plan limits

Medigap Plan G

  • Coinsurance for skilled nursing care
  • Part A deductible
  • Part B excess charges
  • Foreign travel medical emergency costs up to plan limits

Medigap Plan K

  • 100% of Part A hospitalization
  • 50% of Part A deductible
  • 50% of Part B coinsurance
  • 50% of first three pints of blood
  • 50% of skilled nursing care

Medigap Plan L

All benefits of Plan K with 75% coverage

Plan K and Plan L are the only two Medigap plans which have out-of-pocket expense limits – Plan K -$4,620, Plan L – $2,310

Medigap Plan M

  • Coinsurance for skilled nursing care
  • 50% of Part A deductible

Medigap Plan N

  • Skilled nursing care coinsurance
  • Part A deductible
  • Foreign travel emergency expenses up to plan limits

All the plans cover the benefits mentioned under Plan A apart from their specific benefits.

If you plan to take your benefits through Medicare Part A and Part B, then buying these supplemental plans can bring down your out-of-pocket costs and also give you wider coverage.

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