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Medicare Supplement Plans
Medicare Supplement plans, also known as Medigap, are health insurance plans that help cover out-of-pocket costs for Original Medicare. Here are some things to know about Medicare Supplement plans:
- How they work: Medigap covers costs like deductibles, coinsurance, and copayments after Medicare pays its share.
- How to get one: You can buy a Medigap policy from a private insurer if you have Medicare Part A and Part B.
- How much they cost: You pay a monthly premium to the insurer, in addition to your Part B premium. Costs vary by coverage and insurer and may change yearly.
- How they are standardized: Medigap plans are standardized by letter (e.g., Plan A) but are different from Medicare parts.
- How to choose one: Select a plan that meets your budget and coverage needs.
- How to find information: Visit Medicare.gov or call 1‑800‑MEDICARE (1‑800‑633‑4227) for the latest details.
What's Medicare Supplement Insurance (Medigap)?
Medicare Supplement Insurance (Medigap) is extra coverage you can buy from a private insurer to help pay out-of-pocket costs in Original Medicare. To purchase a Medigap policy, you generally need to have Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).
What are some Medicare Supplement Plans?
There are 10 types of Medicare Supplement plans, also known as Medigap plans, in most states: A-D, F, G, and K-N. The main difference between plans with the same letter is price, which varies by insurance company.
Here are some of the popular Medicare Supplement Plans:
- Plan F: Available only to those who qualified for Medicare before 2020; popular for its comprehensive benefits.
- Plan G: Similar to Plan F, but requires you to pay the Part B deductible. It's the most popular and offers great value in many areas.
- Plan N: Doesn’t cover excess charges, which are costs above Medicare's approved amount for a service.
Some things to consider about Medicare Supplement plans include:
- Premiums: Premiums can be expensive.
- Coverage: Medicare Supplement plans don't cover everything, so you'll still need to pay for things like dental care, vision care, and long-term care.
- Enrollment: You may need to sign up for a separate Medicare Part D drug plan and dental coverage.
Unique Features of Medigap (medicare supplement) in Mn
Minnesota has state-specific Medigap plans that differ from standardized plans offered in most other states. Instead of the usual lettered plans (A, B, C, etc.), Minnesota offers:
- Basic Plan
- Covers many services and costs, including Medicare Part A and B coinsurance, foreign travel emergency care, and preventive care.
- Extended Basic Plan
- Offers broader coverage than the Basic Plan, including higher benefits for additional services.
- Optional Riders
- Minnesota residents can customize their plans by adding riders for services such as:
- Medicare Part A deductible.
- Skilled nursing facility coinsurance.
- Additional coverage for outpatient mental health services.
- Minnesota residents can customize their plans by adding riders for services such as:
Cost of Medigap Plans in Minnesota
- Premiums vary based on the type of plan and optional riders.
- Plans are community-rated, meaning everyone pays the same premium, regardless of age.
Note: Plan C & Plan F aren’t available if you turned 65 on or after January 1, 2020, and to some people under age 65. You might be able to get these plans if you were eligible for Medicare before January 1, 2020, but not yet enrolled.