Medicare Plan M: Insights into its advantages, comparisons, and additional details
**Article Title: Understanding Key Medigap Plans for Medicare Coverage**
Medicare Supplement plans, often referred to as Medigap, are designed to help individuals cover out-of-pocket costs associated with Original Medicare. These plans are standardized to ensure uniform coverage across insurance providers, except in a few states like Massachusetts, Minnesota, and Wisconsin, which have their own rules.
## Overview of Key Medigap Plans
Here are the benefits and coverage details of some popular Medigap plans:
### Medigap Plan G
- Coverage: Part A hospital costs and coinsurance, Part A deductible, Part B coinsurance and copays, Part B excess charges, Skilled nursing facility care coinsurance, and emergency foreign travel medical care (80% up to plan limits). - Not Covered: Part B deductible (approximately $257 in 2025). - Popularity: Plan G is the most popular among Medicare beneficiaries, accounting for 39% of enrollments. - Cost: Premiums vary by age, location, and insurer, typically increasing with age.
### Medigap Plan N
- Coverage: Similar to Plan G, but with some differences: Part A hospital costs and coinsurance, Part A deductible, Part B coinsurance and copays, Skilled nursing facility care coinsurance, and emergency foreign travel medical care (80% up to plan limits). - Not Covered: Part B excess charges, Part B deductible, May have copays for some services ($20 for doctor visits, $50 for ER visits that don’t result in an inpatient admission). - Popularity: The third most popular among Medigap plans. - Cost: Generally has lower premiums compared to Plan G, making it more affordable for those willing to accept some coverage limitations.
### Medigap Plan F
- Coverage: Offers comprehensive coverage, including Part B deductible, Part A deductible, and excess charges. - Availability: Only available to those who became eligible for Medicare before January 1, 2020. - Not Offered to New Enrollees: New enrollees can no longer purchase Plan F due to legislative changes.
### Medigap Plan K and Plan L
- Coverage: Plan K covers 50% of costs for most categories, including hospice care. Plan L covers 75% of costs for most categories, including hospice care. - Preventive Care: Both plans cover preventive care at 100%.
### Medigap Plan M
- Coverage: Similar to Plan N, but with a few differences: Covers Part A deductible but not Part B deductible. Covers Part B coinsurance and copays, but not Part B excess charges. - Popularity: Less popular compared to Plans G and N. - Cost: Generally, premiums are lower than Plan G due to the coverage limitations.
It is essential to note that Medigap Plan M specifically covers 100% of hospital costs for an additional 365 days once the original Medicare benefit has been used, Part A hospice care coinsurance or copayment, Part B coinsurance or copayment, the first 3 pints of blood, skilled nursing facility care coinsurance, and 50% of the Part A deductible when it is for eligible medical expenses.
Medigap plans do not include prescription drug coverage. If you need drug coverage, you would need to enroll in a separate Medicare Part D plan.
A person can enroll in Medigap plans during their Initial Enrollment Period (IEP) starting at the beginning of the month in which they turn 65. They can also enroll during the Open Enrollment Period (OEP) that runs from October 15 through December 7 every year.
Each person has a 7-month Initial Enrollment Period (IEP) starting at the beginning of the month in which they turn 65. During this period, they can enroll in Original Medicare (Part A and Part B) and a Medigap plan. After this period, they may have to answer health questions or go through medical underwriting, which could result in higher premiums or denial of coverage.
Remember, it is illegal to sell a Medigap plan to someone who already has a Medicare Advantage policy, unless they are planning to change back to original Medicare. Individuals cannot have a Medigap plan alongside a Medicare Advantage plan.
A person may find the Medicare online plan finder tool helpful in exploring options and finding contact details for plan providers. Medigap plans aim to fill the gaps in coverage that a person may have with Original Medicare.
When choosing a Medigap plan, consider your coverage preferences and the costs associated with each plan. There are currently ten standardized Medigap plans, each identified by a letter. A person should consider their coverage preferences when choosing a Medigap plan.
Lastly, it's important to note that the letter M in a person's Medicare number denotes that they are uninsured. If you find yourself in this situation, exploring Medigap plans could help you manage your healthcare costs more effectively.
- Health organizations might advise Medicare beneficiaries to consider science-backed decisions when choosing Medigap plans, such as Plan G, Plan N, Plan K, Plan L, or Plan M, for comprehensive coverage and cost management.
- Alongside health-and-wellness initiatives, understanding the benefits and coverage details of Medicare Supplement Insurance (Medigap) plans, like health insurance options for Medicare, is crucial for individuals to have peace of mind when managing their health costs during their golden years.
