Medicare Supplement Plan M
Medicare Supplement Plan M is one of the standardized Medicare Supplements plans available in 47 states of the United States. This means that the Medigap Plan M that’s offered in one state provides the same coverage as the Medigap Plan M that’s offered in another state, regardless of the carrier. However, if you’re live in except in Massachusetts, Minnesota, or Wisconsin, you will have to buy a different plan as they do not offer Medicare Supplement Plan M.
Medicare Supplement Plan M offers basic coverage plus a few extras. It is very similar to Medicare Supplement Plan D, one of the more comprehensive plans. The difference, however, is that while Plan D covers 100% of the Medicare Part A deductible, Plan M covers only 50%. In 2023, Medicare Part A deductible is $1,600. So, if you have plan M, the plan will be responsible for $800, while you pay the remaining $800.
Medicare Supplement Plan M Policyholders Enjoy The Following Coverage:
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Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
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Medicare Part A hospice care coinsurance or copayment
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50% of Medicare Part A deductible
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Medicare Part B copayments and coinsurances
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The first three pints of blood used in a procedure
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80% of foreign travel emergency medical costs
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Skilled nursing facility care coinsurance
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Medicare preventive care Part coinsurance
However, Medicare Supplement Plan M Doesn't Pay:
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Part B deductible
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Part B excess charge
Plan M is known for having moderate monthly premiums. However, Plan G and Plan N are still usually the best value options for people who are looking for a Medigap Plan.
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