A Medigap plan covers costs associated with Original Medicare including copayments, deductibles, and other out of pocket expenses. These plans are designed to work in combination with Original Medicare and cannot be used as stand-alone health coverage. Medigap plans do not include prescription drug coverage but participants can choose to have prescription drug coverage by enrolling in Medigap Plan D, prescription drug coverage.
As of today there are ten different standardized Medigap plans to choose from. Each plan is denoted by a letter of the alphabet starting with Plan A. Medigap Plan A provides the most basic set of core benefits. All of the other Medigap Plans include the benefits that are offered in Medicare Plan A along with additional coverage options.
The Medicare program is currently divided into four specific parts including: Medicare Part A, hospital coverage, Medicare Part B, physician’s coverage, Medicare Advantage Program, HMOs and PPOs, and Medigap Plan D, prescription drug coverage.
Medicare Part A: Hospital Insurance
- Services related to inpatient centers such as:
- The hospital
- Nursing facilities
- Hospice
- Home care
Medicare Part B: Medical Insurance
- Service related to physician’s care such as:
- Doctor’s visits
- Outpatient care
- Preventative treatments
Medicare Advantage Program: HMOs and PPOs
- Private insurance companies for you to choose from if you do not want Medicare
Medigap Plan D: Prescription Drug Coverage
- Provides coverage for prescription drug coverage
Medigap Standardized Plans
- Medigap Plan A – Basic core benefits
- Medigap Plan B – Basic core benefits and the Medicare Part A deductible
- Medigap Plan C – Basic core benefits, the Medicare Part A deductible, skilled nursing facility care, the Medicare Part B deductible, and medically necessary emergency care in a foreign country
- Medigap Plan D – Basic core benefits, the Medicare Part A deductible, skilled nursing facility care, and medically necessary emergency care in a foreign country
- Medigap Plan F – Basic core benefits, the Medicare Part A deductible, skilled nursing facility care, Medicare Part B deductible, 100% Medicare Part B excess charges, and medically necessary emergency care in a foreign country
- Medigap Plan F Prime – Offers a high deductible option, increase every year and premiums are typically lower than other Medigap, deductible must meet the deductible before the policy covers your health claims
- Medigap Plan G – Basic core benefits, the Medicare Part A deductible, skilled nursing facility care, 100% Medicare Part B excess charges, and medically necessary emergency
- Medigap Plan K – Basic core benefits, provides 50% of the cost sharing for Medicare Part A covered hospice expenses, first three pints of blood, pays 50% of the Part B coinsurance after meeting annual deductible, after meeting your annual out of pocket spending limit Medicare Plan K will pay 100% of all Medicare Parts A and Medicare Part B deductible, copayments, and coinsurance
- Medigap Plan L – Basic core benefits, provides 75% of the cost sharing for Medicare Part A covered hospice expenses, first three pints of blood, pays 75% of the Part B coinsurance after meeting annual deductible, after meeting your annual out of pocket spending limit Medicare Plan K will pay 100% of all Medicare Parts A and Medicare Part B deductible, copayments, and coinsurance
- Medigap Plan M – Basic core benefits, Medicare Part A deductible, skilled nursing facility care and medically necessary emergency care in a foreign country
- Medigap Plan N – Basic core benefits, Medicare Part A deductible, skilled nursing facility care, and medically necessary emergency care in a foreign country
Learn more about Medigap plans and rates at http://emedigap-plans.com. Medigap Insurance brokers will help you compare Medigap Insurance rates and plans. To talk to an expert in Medigap coverage call toll free 888-452-7949 today!
