Available Plans of Medicare Supplemental Insurance
Medicare supplement policies are sold as standardized “plans.” Currently, there are 10 plans to choose from: A, B, C, D, F, G, K, L, M, and N. Each Medigap policy has been federally approved of and standardized by the U.S. government. This means that every insurance company that offers Plan C, offers the exact same Plan C. This makes comparing plans between insurance companies very easy. Typically, the main difference between providers is price.
These policies provide different types and levels of coverage from which to choose based on an understanding of your own medical requirements.
Insurance companies that sell Medigap policies are not required to offer every plan. However, if they offer any Medigap policy, they must, at a minimum, offer Medigap Plan A. If they offer any plan in addition to Plan A, they must also offer Plan C or Plan F.
The benefits of each plan are listed in this helpful chart below:
|Medicare Part A co-insurance and hospital costs||x||x||x||x||x||x||x||x||x||x|
|Medicare Part B co-insurance or co-payment||x||x||x||x||x||x||50%||75%||x||x|
|Blood (first 3 pints)||x||x||x||x||x||x||50%||75%||x||x|
|Part A hospice care co-insurance or co-payment||x||x||x||x||x||x||50%||75%||x||x|
|Co-insurance for skilled nursing facility care||x||x||x||x||50%||75%||x||x|
|Medicare Part A deductible||x||x||x||x||x||50%||75%||50%||x|
|Medicare Part B deductible||x||x|
|Medicare Part B excess charges||x||x|
|Foreign travel emergency||x||x||x||x||x||x|
*Plan F offers a high-deductible plan. If a person chooses this option, they must pay for Medicare-covered costs up to the deductible amount of $2,110 (in 2013) before the Medigap plan pays anything.
**Plans K and L feature an “Out-of-Pocket” yearly limit. For Plan K the out-of-pocket limit is $4,800; for Plan L, it’s $2,400 (in 2013). After the out-of-pocket yearly limit and yearly Part B deductible are met, the Medigap plan pays 100% of covered services for the rest of the calendar year.
***Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
Medicare SELECT is a type of Medigap policy sold in some states that generally demands less costly plan premiums. Medicare SELECT can exist for any of the standardized Medigap Plans. The reason this Medigap plan is more affordable is because it requires the insured person to use hospitals and sometimes doctors within a limited network to gain full insurance benefits.
The provider limitations do not apply in cases of an emergency. The limitation only affects out-of-pocket expenses. The Medicare program will pay its share of approved charges no matter which hospital or doctor chosen.
For a more detailed view of the plans, visit the coverage page.