Medicare Supplements
Medicare Supplement (sometimes called Med Supp or Medigap) insurance plans cover the out-of-pocket "gaps" in Original Medicare. That’s why they're often known as Medigap plans.
Just like Medicare Part C and D, private insurers sell Med Supp plans that are approved by the federal and state governments. Medigap plans can cover up to nine of the following out-of-pocket Medicare insurance costs. Each type of program will provide a combination of a few, several, or all of these benefits.
Standard Medicare Supplement Plans & Benefits
Yes means the benefit is covered 100 percent by your plan. No means it’s not covered at all. Percentages are the amount the plan covers.
1Enrollees in high-deductible Plan G must pay for their Medicare insurance-covered costs up to the deductible amount before the Med Supp begins to pay.
2Plan only available to those eligible for Medicare insurance before January 1, 2020.
3Enrollees in high-deductible F must pay for their Medicare insurance-covered costs up to the deductible amount before the Med Supp begins to pay. Only available to those eligible for Medicare insurance before January 1, 2020.
4Med Supp pays 100 percent of the Part B coinsurance, excluding copayments of up to $20 for some office visits and up to $50 for ER visits that don’t lead to inpatient admission.
5Upon meeting your annual out-of-pocket (OOP) limit and annual Part B deductible, the Med Supp pays 100 percent of all covered services for the remainder of the calendar year. OOP limits are for CY 2024.
4 Important Things to Note About Medigap Programs
There are a few things to note when evaluating the above Med Supp insurance plan comparison chart.
- The coverage provided by each type of Med Supp insurance plan is standardized, which means the benefits of each type of plan will be the same, no matter exactly where the plan is sold. (Med Supp plans are standardized differently in MA, MN, and WI.)
- Not every plan type is sold in all areas. People in some states may have access to more types of Medigap plans than consumers in other states.
- The costs of plans can vary based on locality, service provider, and coverage offered. Plans with more benefits typically cost more than plans with reduced coverage.
- Two types of plans provide an annual out-of-pocket spending limit. Medigap Plan K ($7,060 in 2024) and Plan L ($3,530 in 2024) cover 100 percent of costs not covered by Original Medicare for the rest of the calendar year once a beneficiary reaches these spending limits.
Learn More About Med Supp Insurance Plans
The best time to enroll in a Med Supp insurance plan is during your Medigap Open Enrollment Period. This six-month period begins as soon as you are 65 years old and enrolled in Medicare Part A and Part B.
If you enroll in a Medigap plan apart from of your Medigap Open Enrollment Period, you may be subject to medical underwriting by the insurance company selling the plan. This means that you could be charged higher premiums or refused a policy altogether based on your age and health.
To get help using the Med Supp insurance plans comparison chart and to find the ideal plan for your needs, contact us today!
Medicare insurance can be daunting, confusing, and overwhelming! Come in for a chat. We can help you put the pieces together!