Medicare Supplement Plan M

This policy is very similar to Plan N, although, instead of having a doctor or hospital copayments, you’ll cover 50% of your Part A deductible. The Plan M may not be first dollar coverage, however, plenty of seniors discover this is the perfect premium amount and the coverage works fine for them.

Looking at Medicare Supplement Plan M, you’ll notice it does offer comprehensive coverage. While there are some gaps, overall the policy offers more peace of mind than Medicare. Plan M offers coverage for Part A hospital coinsurance and the costs of a hospital stay for an extra 365 days after Original Medicare coverage is exhausted.

This coverage alone could save you if you find yourself staying in the hospital for an extended period. What could have been a giant expense and headache, has coverage when you have Medicare Plan M.

This policy will also protect you from nickel and diming yourself through doctor visits. By covering the Part B coinsurance and copayment, you’ll be relieved from that added expense.

The only expenses you should prepare for include the Part B deductible and any Part B excess charges. If you see doctors that accept Medicare assignment, you can avoid the Part B excess charges.

Meeting your deductible means you’ll receive coverage on your Part B services.

With Medicare Supplement Plan M, you’re responsible for 50% of the Part A hospital deductible.

Also, it’s important to inform yourself about how Part A’s deductible works.

As far as prescription drug benefits, you’ll need to enroll in a stand-alone Part D plan for coverage on drugs prescribed by your doctor to take at home.

The costs for Plan M tends to be higher than the other options. If you were hoping to have comprehensive coverage and a lower premium, you could consider Plan G.