Medicare Plan M, also known as Medigap Plan M, is an insurance plan sold by companies. Medigap plans cover some of the health care costs that Original Medicare doesn’t cover.
Plan M is of the new Medigap plans that was made by the Medicare Modernization Act.
Medicare Supplement Plan M
Plan M got its start in the Medicare supplement market in 2010. Let’s look into the pros and cons of Plan M and see if it’s a good fit for your coverage needs. You can also look into all the other Medicare plans available below.
What Medicare Plan M Covers
Medigap Plan M gives you the same basic coverage and benefits as some of the other supplement plans. The biggest difference is that Plan M’s coverage isn’t comprehensive which results in a lower monthly premium. Let’s look into what Medigap Plan M covers.
- Medicare Part A Coinsurance & Hospital Costs (Covered)
- Part A Hospice Care Coinsurance or Copayment (Covered)
- Medicare Part B Coinsurance and Copayment (Covered)
- Blood (First 3 Pints) (Covered)
- Skilled Nursing Facility Coinsurance (Covered)
- Medicare Part A Deductible (50% Covered)
- Foreign Travel Emergency (up to plan limits) (Not Covered)
- Medicare Part B Excess Charges (Not Covered)
- Medicare Part A Deductible (Not Covered)
- Medicare Part B Deductible (Not Covered)
What Medicare Plan M WON’T Cover
Medigap Plan M will not cover 50% of the Part A Deductible, your Part B Deductible, or any Part B Excess Charges. Let’s look more closely at Plan M in the chart below.
| Medicare Supplement Benefits | Plan M covers? |
|---|---|
| Medicare Part A coinsurance & hospital costs (up to additional 365 days after medicare benefits are used | YES |
| Medicare Part B coinsurance or copayment | YES |
| Blood (first 3 pints) | YES |
| Part A hospice care coinsurance or copayment | YES |
| Skilled nursing facility care coinsurance | YES |
| Part A deductible | 50% |
| Part B deductible | NO |
| Part B excess charges | NO |
| Foreign travel emergency (up to plan limits) | YES |
Medigap Plan M Pros and Cons
Let’s look into the advantages and disadvantages of Medicare supplement Plan M.
Pros
Medicare Supplement Plan M closely resembles one of the most popular Medicare supplement plans, Plan N. This is because Plan M still offers a decent amount of coverage and low monthly premiums. Medigap Plan M was designed as an option for Medicare shoppers to get lower premiums by being responsible for more medical expenses. In other words – a little less coverage for a lower premium.
Cons
Medigap Plan M offers less coverage compared to Plan N. The biggest disadvantages of Plan M are that it doesn’t provide any coverage for Excess Charges or the Part B Deductible. However, Plan M will only cover half of your Part A deductible and won’t require co-payments. This last point is the biggest difference between Plan M and Plan N.
Medigap Plan M Quotes
Medigap Plan M isn’t as popular as other supplements such as Plan N or Plan G. It can sometimes be difficult to find Plan M quotes as many Medicare Supplement insurance carriers will not offer it. Give REMEDIGAP a call today at (888) 411-1329. We understand which insurance companies offer Plan M in your state. We’ll find out what the current Medigap rates are for you. We do the work for you and you won’t waste time searching dozens of carriers trying to find the few that may offer you this option.
