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Medicare Supplement Plans for Low Income

Christian Worstell by Christian Worstell    |    Published Oct 03, 2019    |    Reviewed by John Krahnert

Original Medicare’s out-of-pocket costs can put a strain on Medicare beneficiaries, especially those with a low income. Medicare Supplement Insurance (Medigap) helps cover some of these out-of-pocket costs, which helps individuals better plan for their insurance costs. Learn more about Medigap below.

Medicare’s Out-of-Pocket Costs

Even if a product or service is covered by Medicare, there are some costs you may have to pay out of pocket, including:

  • Part A deductible: $1,364 per benefit period (in 2019)
  • Part A coinsurance for hospital stays past 60 days: Starting at $341 per day and increasing after 91 days
  • Part B Deductible: $185 per year (in 2019)
  • Part B coinsurance: 20 percent of the Medicare-approved amount for a service 

These costs are in addition to your Part B monthly premium. The standard premium is $135.50 in 2019.

Medicare Supplement Insurance

Medicare Supplement Insurance can help cover some of Medicare’s out-of-pocket costs. In most states there are 10 standardized Medigap plans to choose from, each providing coverage for a unique mix of basic benefits. No matter which Medigap plan you choose, you are guaranteed at least partial coverage for:

  • Medicare Part A coinsurance and hospital costs
  • Medicare Part B coinsurance or copayment
  • First three pints of blood
  • Part A hospice care coinsurance or copayment

Typically, the more comprehensive the Medigap plan, the more expensive it is. A licensed agent can help match you with a Medigap plan that meets your coverage needs and budget. You can speak with a licensed agent now by calling --ms-tfn-- .

To learn more about Medigap, including the basic benefits of each plan, refer to the following chart or read through some of our guides below.

2019 Medigap plans comparison chart

Find Medicare Supplement Plans Where You Live

A licensed insurance agent can help you find Medicare Supplement Insurance plans that are available where you live.

Call to speak with a licensed agent today to get help comparing plan benefits and costs so you can find a plan that fits your needs.

 

Compare Medigap plans in your area.

Find a plan

Or call --ms-tfn-- to speak with a licensed insurance agent.


Sources:

Medicare Costs: https://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html

Medicare Supplement: https://medicare.com/medicare-supplement/how-does-medigap-help-people-with-low-income/

Kaiser Family Foundation: http://www.kff.org/medicare/perspective/the-gap-in-medigap/

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