The new Medigap insurances offer policyholders two new options to consider. These new supplemental insurance plans offer customers with a less expensive option; an option that will help pay medical expenses without breaking the bank. Plans M and N are reasonable choices at a reasonable price. Policyholders who could not previously afford supplemental coverage now have valid plans to consider.
Plan M is much the same as Plan D. The Medicare Supplemental Cover is similar in that it pays the 20% remaining after the initial Medicare payment of doctor, hospital, and skilled nursing claims. Plan M does not cover Medicare B deductible and only half of Medicare A’s deductible, but there are no co-pays. The premium for Plan M is 85% of Plan F’s premium.
Plan N is also very similar to Plan D. Plan N will significantly lower supplement premiums. The plan will cover Part A deductibles, but not Part B. With Plan N there will be co-pays at physician and hospital visits, but the plan is about 70% of the current Plan F premium.
Although the premiums of the two new Medigap plans are significantly lower than the existing plans, the out-of-pocket expense is greater. The new plans are cost sharing so out-of-pocket charges are expected. Another benefit of these plans is there is no restrictions on what hospital or which doctor to visit. This Medicare Supplemental Cover does not limit patients’ options. Consider all the Medigap supplemental plans available and choose the one that best suits the current situation.