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Medigap Plan M: Medicare Supplement Insurance
By Kolt Legette
Since 2003, Kolt Legette has helped clients navigate the often-confusing world of insurance. His number one goal is protecting the medical and financial wellbeing of every person he speaks with, wheth ... sceler they choose to buy insurance or not. Kolt loves representing the best brands in medical insurance as it allows him to provide side-by-side comparisons for his clients. This allows the client to decide which company works best for them. By putting the needs of the client above everything else, Kolt helps real people find affordable health insurance solutions for their most pressing healthcare needs. With his belief that peace of mind is priceless, Kolt's goal in every interaction is to make sure every person he speaks to leaves with the peace of mind they rightfully deserveRead more
May 23, 2020
|Part A Hospital Co-insurance||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes|
|365 Hospital Reserve Days||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes|
|Part B co-insurance/co-payment||Yes||Yes||Yes||Yes||Yes||Yes||50%||75%||Yes||Yes|
|Blood Benefit (first 3 pints)||Yes||Yes||Yes||Yes||Yes||Yes||50%||75%||Yes||Yes|
|Skilled Nursing Facility coinsurance||No||No||Yes||Yes||Yes||Yes||50%||75%||Yes||Yes|
|Part A deductible||No||Yes||Yes||Yes||Yes||Yes||50%||75%||50%||Yes|
|Part B deductible||No||No||Yes||No||Yes||No||No||No||No||No|
|Part B excess charge||No||No||No||No||Yes||Yes||No||No||No||No|
|Foreign Travel Benefit||No||No||80%||80%||80%||80%||No||No||80%||80%|
2021 Data – Table Source
Medigap Plan M offers many cost-sharing benefit options and includes many similar benefits to Plan D, but will only cover 50 percent of the Part A deductible.
Plan M covers Part A hospital co-insurance, skilled nursing facility benefits, and hospice co-insurance. However, it does not cover the Part B deductible ($203 in 2021) and only covers half of the Part A deductible ($1,484 in 2021). However, once you meet your Part B deductible, you will not be responsible for co-insurance for appointments with your physician.
Medigap Plan M also includes coverage for hospital costs up to an additional 365 days after Medicare benefits are used up, coinsurance for Part B, blood services (first three pints), hospice coinsurance for prescription drugs, and 80 percent of foreign travel emergency benefits.
Not all insurance carriers offer all of the Medicare Supplement Plans. It can also be difficult to determine which plan is right for you. Most insurance carriers offer a variety of plans, so our licensed sales agents can help you shop around for the plan that would best fit your needs.
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