Medicare Supplement policies (also known as Medigap policies) are standardized and must follow federal and state laws designed to protect you. Insurance companies can only sell you a "standardized" policy identified in most states by letters (see the chart below).
All policies offer the same basic benefits but some offer additional benefits, so you can choose which one meets your needs. As you can see in the comparison chart there are many options from which to choose. As licensed insurance agents we can help you understand the differences between the plans so that you can decide on the right plan for you.
In Massachusetts, Minnesota, and Wisconsin, Medigap policies are standardized in a different way.
Did you know that each insurance company decides which Medigap policies it wants to sell, although state laws might affect which ones they offer? Insurance companies that sell Medigap policies:
Keep in mind, that the Medicare Supplement policy covers co-insurance after you've paid the deductible (unless the Medigap policy also pays the deductible).
The chart below shows basic information about the different benefits Medigap policies cover.
Yes = the plan covers 100% of this benefit
No = the policy doesn't cover that benefit
% = the plan covers that percentage of this benefit
N/A = not applicable
|
Medigap Benefits |
Medigap Plans |
|||||||||
|
A |
B |
C |
D |
F* |
G |
K |
L |
M |
N |
|
|
Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Part B coinsurance or co-payment |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes*** |
|
Blood (first 3 pints) |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
|
Part A hospice care coinsurance or co-payment |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
50% |
75% |
Yes |
Yes |
|
Skilled nursing facility care 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 Charges |
No |
No |
No |
No |
Yes |
Yes |
No |
No |
No |
No |
|
Foreign travel exchange (up to plan limits) |
No |
No |
80% |
80% |
80% |
80% |
No |
No |
80% |
80% |
|
Out-of-pocket limit** |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
$6,620 for 2023 |
$3,470 for 2023 |
N/A |
N/A |
* Plan F and Plan G also offer a high-deductible plan. If you choose this option, this means you must pay for Medicare-covered costs up to the Calendar Year Deductible of $2,700 in 2023 before your Medigap plan pays anything.
** After you meet your out-of-pocket yearly limit and your Calendar Year Part B Deductible, the Medigap plan pays 100% of covered services for the rest of the calendar year.
*** After the Part B Calendar Year Deductible has been met, Plan N pays 100% of the Part B coinsurance, except for a co-payment of up to $20 for some office visits and up to a $50 co-payment for emergency room visits that don't result in inpatient admission.
Starting January 1, 2020, Medigap plans sold to new people with Medicare won’t be allowed to cover the Part B deductible. Because of this, Plans C and F will no longer be available to people new to Medicare starting on January 1, 2020. If you already have either of these 2 plans (or the high deductible version of Plan F or Plan G) or are covered by one of these plans before January 1, 2020, you’ll be able to keep your plan. If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans.
Source: www.medicare.gov
By contacting the phone number on this website you will be directed to a licensed agent.