New in town
The government offers standardized Medicare Supplement Insurance Plan Options to seniors on Medicare. In the past year, you may have noticed that, Medigap Plans E, I, and J are no longer available. In the place of these Medicare Supplement Insurance plans, comes Medigap Plan M and Medigap Plan N.
Let’s begin with Medigap Plan M. This new addition to the Medigap insurance family takes on the look of Medigap Plan D. It offers most of the same benefits with a few exceptions. Medigap Plan D covers the Part A deductible while Medigap Plan M only covers 50% of that deductible. For this reason, you can find Medigap Plan M at a much lower rate than Medigap Plan D. That fact aside, Medigap Plan M will cover your Medicare Part B coinsurance, skilled nursing care, and foreign travel emergency.
Switching gears to Medigap Plan N, this plan is also very simliar to Medigap Plan D.
With Medigap Plan N, you’ll find no deductibles to pay. The paying structure for Medigap Plan N is a bit different, but it may be optimal for your basic needs. Trips to the doctor or hospital are paid for through a copayment system or what’s known as cost sharing model. Basically you’ll pay $20 for a visit to your general doctor and $50 in the case of an ER visit.
Both Medicare Supplement Insurance Plan Options are great additions to the Medigap family. The benefits seniors wish to get out of Medicare Supplement Insurance Plans will vary from person to person, so it is important to be familiar with the differences in each plan.
To get more information about Medicare Supplement Insurance plans, talk to one of our Medigap plan representatives today or use our instant quote below.