Medicare Supplement Plan Comparison
Medicare Supplement Plans are plans sold by private insurance companies that help fill the gaps in Original Medicare coverage. Also called Medigap, these plans help cover costs not covered by Original Medicare like coinsurance, deductibles, and copayments.
What Are The Different Medicare Supplement Plans?
Depending on where you live, you may have up to 10 different Medicare Supplement plans to choose from.
All Medigap plans provide coverage for the same basic benefits: Part A coinsurance/hospital costs, Part B coinsurance/hospital costs, the first three pints of blood used in a procedure, and your Part A hospice care coinsurance or copayment.
Here are the different Medigap plans available and their coverage:
- Medigap A covers full basic benefits only.
- Medigap B covers full basic benefits as well as Part A deductible.
- Medigap C covers full basic benefits, skilled nursing facility care coinsurance, Part A deductible, Part B deductible, and 80% of foreign travel exchange (up to plan limits).
- Medigap D covers full basic benefits, skilled nursing facility care coinsurance, Part A deductible, and 80% of foreign travel exchange (up to plan limits).
- Medigap F covers full basic benefits, skilled nursing facility care coinsurance, Part A deductible, Part B deductible, Part B excess charge, and 80% of foreign travel exchange (up to plan limits).
- Medigap G covers full basic benefits, skilled nursing facility care coinsurance, Part A deductible, Part B excess charge, and 80% of foreign travel exchange (up to plan limits).
- Medigap K covers full Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up and 50% of the remaining basic benefits, as well as 50% of skilled nursing facility care coinsurance and 50% of Part A deductible.
- Medigap L covers full Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up and 75% of the remaining basic benefits, as well as 75% of skilled nursing facility care coinsurance and 75% of Part A deductible.
- Medigap M covers full basic benefits, skilled nursing facility care coinsurance, 50% of your Part A deductible, and 80% of foreign travel exchange (up to plan limits).
- Medigap N covers full basic benefits, skilled nursing facility care coinsurance, Part A deductible, and 80% of foreign travel exchange (up to plan limits).
How To Choose Between Medicare Supplement Plans
Choosing the right Medicare Supplement plan for your needs is critical to get the coverage and financial protection that’s right for you. Consider the following in making your decision:
- How much medical care you typically receive as well as how much medical care you think you’ll need in the future
- The types of medical care you usually receive and the types of medical care you think you’ll need in the future
- Your comfort with a cost-sharing model versus a full coverage model
- The costs for each plan (make sure you look at how each plan is rated to get a full picture of cost)
- Your plans for travel throughout your retirement
Need Help Choosing a Medicare Supplement Plan?
Simple Retirement Benefits helps clear up all your Medicare confusion so you can get back to what really matters: enjoying your retirement! Our experienced agents ensure you are fully educated on all things Medicare so you can choose the right Medicare coverage for your needs. Contact us today to receive your free quote.
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If you are still unsure of which Medicare plan is right for you, we can help. We will discuss all the coverage options with you to determine which plan is best for your needs.
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