With a Medigap Plan M policy, the following costs and benefits are covered:
- Medicare Part A hospital coinsurance and hospital costs up to a year after Original Medicare benefits are used up
- Part A hospice care coinsurance and copayments
- Medicare Part B copayments and coinsurance
- First three pints of blood for a medical procedure
- Skilled Nursing Facility care coinsurance
- Medicare Part A deductible (50%)
- Foreign travel emergency coverage (80% of approved costs up to plan limits)
One Original Medicare expense that Medigap Plan M doesn’t cover is the Medicare Part B deductible. Medigap Plan M also doesn’t cover Part B excess charges. Excess charges are an amount that a doctor or physician can charge (up to 15%) more than the Medicare-approved amount for a visit or service.
Medicare Supplement Plan M costs
Medicare Supplement insurance is sold by private insurance companies that set monthly premiums for their policies based on any of three rating systems: community-rated, issue-age-rated, and attained-age-rated. Insurance companies may consider factors such as gender, age, and health status to set premium amounts. So, Medigap Plan M premiums may vary depending on where you buy it, but all Medigap Plan M policies include the same coverage.
If you have any questions please call Stephen or Carla Fowler at 205-417-5027. They are Medicare advisors with Prosurity. They will be happy to answer any of your questions.