Medigap plans cover out-of-pocket expenses from Medicare Part A and Part B, which can include coinsurance, copayments, deductibles, and more.
Coverage Under Medigap
The ten Medigap plans have different coverage options. They each cover some or all of these costs: Part A coinsurance and hospital costs, Part B copayments and coinsurance, your first three pints of blood used in a procedure, Part A hospice, skilled nursing facility care, Part A deductible, Part B deductible, Part B excess charges, and foreign travel emergency care (covered at 80%).
Medigap plans C and F cover the Part B deductible, but these are no longer available to purchase for new Medicare beneficiaries.
The Medigap Plans
Each of the ten plans cover Part A coinsurance and hospital costs. Six of the plans cover 80% of your foreign travel emergency costs.
The policies with the most coverage are plans F and G, which cover all of the listed expenses. These tend to come with the highest premiums, but in some states, you can purchase a high deductible version of these plans, which have low monthly premiums. Once you meet the high deductible, your covered expenses are fully paid by the plan. This is a great option for people in good health who can afford the deductible and would like the security of full coverage if needed.
Plans C, D, and N also offer a significant level of coverage. Plan N covers 100% of the costs of Medicare Part B services except for copayments for office visits and emergency room visits.
Plans K and L have a maximum out-of-pocket limit. Once you meet that limit and have paid your Medicare Part B deductible, the plan will pay 100% of the cost for the covered expenses.
Plans A and B have basic coverage for the first few listed expenses and come with lower premiums.
Why Choose Medigap
Your Medicare Supplement plan applies anywhere you receive care from a doctor who accepts Medicare. That means if you are on vacation or visiting a relative across the country, you don’t have to worry about your provider being out of network and having to pay higher costs or the full amount for covered services.
Likewise, if you travel outside of the country with any regularity, you will want to purchase a Medigap plan. Medicare’s coverage does not extend outside the U.S. and its territories except under specific circumstances. Choosing one of the six plans with foreign travel emergency care coverage will allow you to receive the care you need around the world.
A Medigap policy may be right for you. Magellan Healthcare can help you compare plans and select the one that best fits your situation. Speak to our team today to get started.
