What is Medicare Supplement Plan M?

Medicare Supplement Plan M 2021 is one of 10 Medigap plans designed to help bridge the gap in Original Medicare (Part A&B) by covering some of the expenses that Medicare does not cover. Medigap plans are standardized nationwide, meaning Medigap Plan M will offer the same benefits, regardless of where it’s sold or which insurance carrier sells it.

Medicare Supplement Plan M Eligibility
Before getting into Medicare Supplement Plan M benefits, here are the general eligibility requirements you’d have to meet to be able to enroll in Medicare Plan M:

– You are at least 65 years of age and are a U.S. citizen or a legal resident for at least five consecutive years
– You are currently receiving retirement benefits

OR

– You are disabled and therefore receiving disability benefits
– You have End-Stage Renal Disease (ESRD)
– You have Lou Gehrig’s Disease (ALS)

What does Medicare Supplement Plan M cover?

Medicare Supplement Insurance Plan M can help save you money on certain expenses. The Medicare Supplement Plan M copay benefit is on Original Medicare (Parts A&B) coinsurance, copayments, and deductibles. What makes Plan M different is that it only covers the deductible for Medicare Part A at 50%, where most other plans cover it in entirety, however, your coinsurance on Medicare Part B is still at 100%.

Medicare Supplement Plan M coverage options include:

– Hospital coinsurance and hospital costs for Medicare Part A, up to 365 days after Original Medicare benefits are used up

– Hospice care coinsurance or copayments for Medicare Part A
– Copayments and coinsurance for Medicare Part B
– The first three (3) pints of blood
– Deductible for Medicare Part A at 50%
– Deductible for Medicare Part B

– Coverage for foreign travel emergency – 80% of approved costs, up to the coverage limit.

On the other hands, Medicare Supplement Plan M coverage does not include:

– Medicare Part B deductible
– Medicare Part B excess charges

How much does Medicare Supplement Plan M cost?

Medicare Supplement Plan M rates vary from one insurance carrier to another, since these Medigap policies are sold by private insurance companies. However, because Medigap policies are standardized, Plan M has to offer the same base benefits everywhere, no matter which carrier you choose to go with.