Medigap Plan M provides the same basic benefits as other Medicare supplements. However, it has a slightly lowered monthly premium in return for you paying half of your hospital deductible and 100% of your annual outpatient deductible.
Plan M can be great for people who don’t anticipate frequent visits to the hospital and can afford the seldom cost-sharing. With that in mind, it’s critical to have a licensed insurance agent who specializes in Medicare Supplements. At Cornerstone Senior Advisors, we can assess the differences in premiums and ensure that the savings will be worth the risk of some costs.
Medigap Plan M Benefits
- Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used up)
- Medicare Part B copayment
- First 3 pints of blood
- Part A hospice care copayment
- Skilled nursing facility coinsurance
- 50% of Medicare Part A deductible
- Foreign Travel Emergency (up to plan limits)
It doesn’t cover Medicare Part B deductible or excess charges.
About Medigap Plan M Insurance Carriers
Each Medicare supplement carrier selects which plans it will offer unless state law requires them to offer specific plans. Since most people have trouble understanding cost-sharing, it tends to cause fear, and we see few companies offer Plan M. This is why you should work with a trusted agent at Cornerstone Senior Advisors. We’re able to locate these carriers and get you quick quotes over the phone or through email. Call (316) 260-3331 or email office@AdviseMedicare.net.