For the past 17 years, Medicare Supplement plans have been mostly unchanged when
the plans were originally standardized. Last 1st of June, 2010, two new choices for
consumers were introduced, plan M and N. These new Medicare Supplement Plans offers
cheaper premiums alternative to the existing Medicare Supplement plans.
Medicare Supplement Plan M is very similar to Plan C. It will offer the same core
benefits as Plan C together with the additional hospice benefit required of all plans
as of June 2010. Nevertheless, unlike Plan C, Plan M does not cover the Medicare
Part B deductible and only 50% of the Part A deductible. However, once both deductibles
are met, you will no longer have to pay co-pays for hospitalizations (Part A) or
doctors visits (Part B).
Medigap plan M covers:
• All Basic Medicare Benefits That Are Included In Plan A
• 50% of the Hospital Deductible of Medicare Part A ($550)
• No Co-payments for Office Visits or Emergency Room
• Coinsurance for Medicare Approved Skilled Nursing
• Foreign Travel Emergency Expenses
Medigap Plan M does not cover:
• Part B Deductible ($155)
• Part B Excess Charges
Medigap Plan M may be a high-quality policy for individuals who want to maintain
hospital costs at a minimum and feel they may need the services of skilled nursing
for rehabilitation. The cost for premiums is usually about 20 to 30 percent less
each month compared to rates for other plans.