What Types of Medicare Supplement Plans are Available

Looking for the different types of Medicare Supplemental insurance plans? Medigap, also called Medicare Supplements, is a health insurance policy that provides coverage for the out of pocket expenses that the Original Medicare doesn’t cover. It offers benefits that Original Medicare doesn’t cover such as coinsurance, deductibles, and co-payments.

Types of Medicare Supplement Plans

types of medicare supplement plans

The federal and state laws governing the these policies are the same in all states except in Minnesota, Massachusetts, and Wisconsin. The standardization of the plans ensures that the different private insurance companies offer the same benefits.

They offer ten different types of Medicare Supplements depicted by letters A to N. All policies must include the ten primary benefits although others opt to provide additional plans. The other three states have a different way of standardizing their plans.

You can always call our team of experts for more information on the additional plans offered by insurers in various states.

What are the Different Types of Medicare Supplemental Insurance Plans Offered by Insurers

The insurers use letters A to N to highlight the different types of Medicare Supplemental insurance policies that they provide. The benefits vary from one plan to the other, although there are benefits covered by all plans including:

  • Coverage for the first three pints of blood each year & skilled nursing facility care co-payment. They also cover respite care and other Part A-covered services.
  • Different types of supplement plans provide all these services except Medicare Supplement Plan K and L, which provides coverage of up to a certain percentage depending on the plan.
  • Additional days for the inpatient hospital care as long as you continue paying your premiums.
  • All other plans, except K, L, and N, pays all your Part B deductibles which cover the doctor bills, healthcare (both home and hospital) and any other expenses not included in Part B.
    • The K and L plans cover a portion of your Part B deductibles respectively. Plan N, on the other hand, covers your Part B coinsurance except for the small copay at the doctor and ER visits that don’t end up in an inpatient admission.
  • Plans C, D, F, G, M, and N offer coverage for the care provided while traveling out of the country. Healthcare begins during the first two months that the insured is out of the country.
  • Plans C and F provides the Part B doctor charges that the basic Medicare coverage doesn’t pay.

Key Things You Should Know About the Different Types of Medicare Supplements

What are the key things that I should know before applying for the different types of Medicare Supplement plans?

The state lays out the rules and regulation governing the plans. Therefore, the laws are similar for all insurance providers.

Some of the facts that you should have in mind include:

  1. You should have Medicare Part A and Part B.
  2. You should be a resident of the state offering the plan.
  3. You should be ready to leave a Medicare Advantage Plan if you want a Medigap policy- it’s against laws for an insurer to provide Medigap plan to anyone that already has a Medicare Advantage plan.
  4. The plan doesn’t cover spouses or two people, each recipient must get their own separate policy.
  5. Medigap plans don’t include prescription drug coverage. Anyone looking for a plan that covers the prescriptions should however enroll for Plan D.
  6. You must pay your monthly rates to the private insurer in addition to the Part B payments to Medicare.
  7. All policies are subject to renewal regardless of the health status of the insured, meaning that the insurance company has no right to cancel your insurance coverage if you maintain regular premium payments.

How do Insurance Companies Determine the Rates

As much as the insurance plans are similar, the private insurance companies have varied ways of determining premiums, some companies opt to offer higher premiums and lower deductibles.

Additionally, the insurers may underwrite the premiums unless you signed up during the Medigap Open Enrollment Period. Age and health of the insured are other factors that the private insurance companies use to determine the premiums.

Compare the Different Types of Medicare Supplemental Plans

There are a few options you have to get started:

  1. Call one of our agents using the number provided above
  2. Fill out our contact form to have an agent call you
  3. Use our compare rates form to find rates in your area

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