What Is Medicare Supplement Insurance
Medicare Supplement Insurance (Medigap) can help you pay for health care costs. The types of assistance you receive will pay for copayments, coinsurance, and deductibles, as well as several additional benefits. With Medigap coverage, you must pay a monthly premium to maintain your benefits. Each plan has different costs, so speak with an insurance agent to learn what your options are.
Medigap Benefits
The Medicare Supplement Insurance can provide you with an array of different benefits. The main coverage areas are as follows:
- Part A coinsurance and hospital coverage
- Part B coinsurance and copayment coverage
- 3 pints of blood paid for
- Part A hospice coinsurance and copayment coverage
- Skilled nursing facility care coinsurance coverage
- Part A deductible coverage
- Part B deductible coverage
- Part B excess charge coverage
- Foreign travel emergency coverage
Which benefits you get will depend on the plan you select.
Basic Medigap Plans
If you only need limited coverage to help you pay for your out-of-pocket health care costs, you can choose one of the basic Medigap plans. Plans A and B offer the most basic assortment of benefits.
Plan A offers:
- Part A coinsurance and hospital coverage
- Part B coinsurance and copayment coverage
- 3 pints of blood paid for
- Part A hospice coinsurance and copayment coverage
Plan B offers:
- Part A coinsurance and hospital coverage
- Part B coinsurance and copayment coverage
- 3 pints of blood paid for
- Part A hospice coinsurance and copayment coverage
- Part A deductible coverage
Each of these plans offers low benefits and higher costs, but the premium payments will be lower than more comprehensive plans.
Comprehensive Medigap Plans
If you want to maximize the range of benefits provided by your Medigap policy, you may wish to enroll in a more comprehensive plan. Plans C, F, and G offer the widest range of benefits, but they all have higher premium costs than the basic plans.
Plan C offers:
- Part A coinsurance and hospital coverage
- Part B coinsurance and copayment coverage
- 3 pints of blood paid for
- Part A hospice coinsurance and copayment coverage
- Skilled nursing facility care coinsurance coverage
- Part A deductible coverage
- Part B deductible coverage
- Foreign travel emergency coverage
Plan F offers:
- Part A coinsurance and hospital coverage
- Part B coinsurance and copayment coverage
- 3 pints of blood paid for
- Part A hospice coinsurance and copayment coverage
- Skilled nursing facility care coinsurance coverage
- Part A deductible coverage
- Part B deductible coverage
- Part B excess charge coverage
- Foreign travel emergency coverage
Plan G offers:
- Part A coinsurance and hospital coverage
- Part B coinsurance and copayment coverage
- 3 pints of blood paid for
- Part A hospice coinsurance and copayment coverage
- Skilled nursing facility care coinsurance coverage
- Part A deductible coverage
- Part B excess charge coverage
- Foreign travel emergency coverage
As you may have noticed, plan C covers the Part B deductible, but it doesn’t cover Part B excess charges. On the other hand, Plan G covers Part B excess charges, but doesn’t cover the Part B deductible. If you want complete coverage for all out-of-pocket costs, Plan F offers that level of coverage.
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