Medicare Supplement Plan Comparison
The coverage categories
Medicare Supplement Plans can be compared based on their coverage categories.
These categories are:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance or copay
- First three pints of blood
- Medicare Part A hospice coinsurance or copay
- Skilled Nursing Facility coinsurance
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part B excess charges
- Emergency care during foreign travel
Deciding based on priorities
Medigap Plans can be further compared based on a person’s priorities:
- Basic coverage (Medigap Plans A and B)
- Comprehensive (Medigap Plans C, D, F, and G)
- Low-premium and comprehensive, with a few out-of-pocket costs (K, L, M, and N)
Comparing Plans A and B
Medigap Plans A and B are the most basic plans, covering four and five items out of the nine coverage categories respectively.
Plan A covers:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance or copay
- First three pints of blood
- Medicare Part A hospice care coinsurance or copay
Plan B covers:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance or copay
- First three pints of blood
- Medicare Part A hospice care coinsurance or copay
- Medicare Part A deductible
The two plans are essentially the same, with the exception being the Part A deductible. Neither Plan offers coverage for the Part B deductible, Part B excess charges, nor do these cover emergency care during foreign travel.
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Comparing Plans C, D, F, and G
These are by far the most comprehensive of the Medigap Plans. C and F, however, are not available to anyone who became eligible for Medicare on or after January 1, 2020.
Because the coverage is so comprehensive, it’s easier to compare them based on what they don’t cover:
- Medigap Plan C covers everything but the Part B excess charges
- Plan D covers everything but the Part B deductible and excess charges
- Plan F covers everything
- Plan G covers everything but the Part B deductible
For someone deciding between these, it should be looked at based on which out-of-pocket costs he or she is comfortable with paying.
Comparing Plans K, L, M, and N
These Plans are fairly comprehensive, but more out-of-pocket costs are left in the policyholder’s hands. Plans K and L have near-identical coverage, with the only differences being the percentages of costs out-of-pocket prior to meeting the out-of-pocket limit. Plans M and N strongly resemble each other as well, with minor differences in the out-of-pocket cost the policyholder must pay.
Plans K and L both cover:
- Medicare Part A coinsurance and hospital costs (100%)
- Medicare Part B coinsurance or copay
- First three pints of blood
- Medicare Part A hospice care coinsurance or copay
- Medicare Part A deductible
- Care in a Skilled Nursing Facility
For all categories besides Medicare Part A coinsurance, Medigap Plan K will cover 50% of the other costs until the annual out-of-pocket limit of $6,220 and the $203 Part B deductible are met. After which, all items are covered 100%.
The same rules apply for Plan L, except the out-of-pocket limit is $3,110. This plan will cover 75% of the costs in the coverage categories until the out-of-pocket limit and Part B deductible are met. After this, the coverage is 100%.
Like Plans K and L, Plans M and N are a low-cost approach to getting comprehensive coverage.
Plans M and N offer coverage in these categories:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance or copay
- First three pints of blood
- Medicare Part A hospice care coinsurance or copay
- Medicare Part A deductible
- Care in a Skilled Nursing Facility
- Emergency care during foreign travel (80% of remaining costs)
The difference here is that with Plan M, 50% of the Medicare Part A deductible is covered. Plan N covers Part B coinsurance, but it leaves up to $20 copay for standard outpatient visits and $50 when visiting the ER but not being admitted as an inpatient.
Making the final choice
Deciding between the 10 Medigap policies can be overwhelming. But, this process is easier when you analyze your personal needs and your priorities for payment. Once you narrow this down, you can choose based on which offers coverage for the items you need the most.
Give us a call today at 281-639-7787 to learn more about your Medigap options and which plan suits your needs the most.
