Medicare Supplement
What is a Medicare Supplement plan?
Medicare Supplement or Medigap Insurance fill in the gaps of Original Medicare. The gaps are Part A Deductible, Part A co-insurance, Part B deductible and Part B co-insurance. You would be responsible for the following costs without a Medicare Supplement plan or other secondary insurance.
Part A Gaps:
- Hospital inpatient stay – The inpatient deductible amount is $1,632(in 2024) for each benedit period.
- Inpatient stays copays – $0 for days 1-60 after you pay the Part A Deductible. For days 61-90, the copay is $408 per day. For days 91-150, the copay is $816 per day. After day 150, you pay all costs.
Gaps in Part B
- Part B Deductible – $240 in 2024.
- Part B Co-insurance – 20% once the Part B Deductible is met.
Which Medicare Supplement plan should I enroll in?
Each Medicare Supplement plan covers Medicare’s gaps a little differently. If you become eligible for Medicare after January 1, 2020, you will not be able to enroll in Plan F, Plan C or High Deductible F. Below is a breakdown of each Medigap plan.
- Plan A – Pays for the Part B co-insurance once deductible is met. It does not pay for Part A or Part B deductible.
- Plan B – Pays for the Part A deductible and Part B co-insurance. It does not pay for the Part B deductible.
- Plan C – Is not offered by many insurance companies. Fills all the gaps except the Part B excess charges.
- Plan D – Does not pay for the Part B deductible.
3 Most Popular Medigap Plans
- Plan F – Fills all the gaps in Original Medicare. Considered the best Medigap plan.
- Plan G – Fills all the gaps except the Part B deductible. Has become the most popular Medigap plan.
- Plan N – Pays the Part B co-insurance except for doctor visits where you will be responsible for $20 copay and emergency room visit where you will have to pay $50. Plan N does not pay the Part B deductible.
Other Medigap Plans
- Plan K – Not offered by many insurance companies. Pays 50% of Part A deductible and Part B co-insurance. Does not pay the Part B deductible. Has an out of pocket limit of $7,060 in 2024.
- Plan L – Pays 75% of Part A deductible and Part B co-insurance. Does not pay the Part B deductible. Has an out of pocket limit of $3,530 in 2024.
- Plan M – Pays 50% of the Part A deductible. Does not pay for the Part B deductible.
- Plan High Deductible F – Won’t pay until the deductible amount is met. The deductible is $2,800 in 2024. Once the deductible is met, it acts as the regular Plan F.
- Plan High Deductible G – Won’t pay until the annual deductible is met. In 2024, the deductible is $2,800. Once deductible is met, it fills all the gaps in Original Medicare.
Medicare Supplement Insurance only work with Original Medicare. They do not work with Medicare Advantage plans. Medicare Supplement premiums can vary greatly, depending on where you live, age, plan, tobacco use and insurance company.
Contact us for free Medigap quotes.
For more information on Medigap plans, you can also visit the Medicare website.
