Medicare Supplement Plan M
Medicare Supplement Plan M isn’t one of the most popular choices of Medicare Supplemental insurance levels. It is almost exactly like Plan N except for the fact that the Part A deductible is only covered at 50 percent and not 100 percent. This deductible is for each benefit period, so it might be worth saving a bit on premiums in return for the risk of having to pay half of this in case you are hospitalized.
Find the best rates for Medicare Supplement Plan M with our convenient online quote form. All you have to do is enter your zip code in the quote box to get started.
Why Select Medicare Supplement Plan M?
Most Medicare beneficiaries choose to enhance their Original Medicare Part A & Part B benefits with additional coverage. Medicare Advantage plans have become more and more popular because they usually are fairly inexpensive to join and may even offer extra benefits like Part D and dental coverage. However, most of these plans also use PPOs or HMOs to keep costs down. Plan members may also have to pay deductibles and copays when they need covered services. Finally, benefits and premiums for MA tend to change a lot every year.
On the other hand, Medicare Supplement Plan M let’s policy owners stay on Original Medicare. They simply help fill in coverage gaps. Because they do not rely on medical networks, Medicare Supplement plan holders may have more freedom to pick their medical providers. The Medicare Supplement plan levels are all standardized by Medicare and tend to be very stable from year to year.
Private health insurance companies market Medicare Supplement plans.
Important to know about supplements like Medicare Plan M:
- The government defines each plan level so that Medicare Plan M will be the same from any insurer.
- Even though benefits have to conform to the standard Medicare Supplement plan levels, insurers can determine their rates.
- Insurers have to offer plan A and either plan C or Medicare Plan F in any service area, but they do not have to provide Medicare Supplement Plan M.
The fact that Medicare Supplement plan levels are always the same no matter which insurer you choose means you should always take the time to compare supplement prices in your town or city. Of course, you also need to balance benefits and prices. Paying somewhat less every month for a plan won’t save you any money if you lack coverage you need in case you do get sick. In the United States, Medicare Supplement Plan F and C are the most popular, and together they attract over 60 percent of the supplement market.
This means that Medicare beneficiaries who purchase Medicare Supplement plans are less concerned about the monthly cost of the plan and more concerned about their benefits. On the other hand, relatively healthy seniors might be willing to purchase a plan with some cost sharing to save money. One attraction of Medicare Plan M, for example, is that it does cover emergency care in foreign countries up to 80 percent. This is not a benefit provided by Original Medicare, and it might provide peace of mind for Medicare beneficiaries who get a chance to travel.
Comparison of Medicare Supplement Plan M Online
These are some of the largest Medicare Supplement insurance companies in the United States:
- Blue Cross and Blue Shield
- Aetna Medigap Plans
- Mutual of Omaha Medigap Plans
- Cigna Medicare Supplements
It could be difficult to find prices from each of these Medicare Supplement Plan M policies, but we have a solution. Get your own personalized Medicare Supplement quotes online by entering your zip code in the quote box to get started. We hope to help you find the best Medicare Supplement plan for your own health needs and budget.