What is Medicare Supplement Plan M?

Medicare Supplement Plan M is more or less in the middle in terms of the portions of Original Medicare (Part A and Part B) out-of-pocket costs that Medigap plans cover.

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.

 

 

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