Medicare Supplement Insurance Plans at the Lowest Rates
Last Updated: Friday, February 3, 2012
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Sharon B. - Texas - April 2011
| Judy C. in Dallas, TX. | |
| Plan F | |
| Monthly Before Savings | $225.77 |
| Monthly After Savings | $139.66 |
| Savings Per Month | $ 86.11 |
| Savings Per Year | $1033.32 |
| Medicare Supplement | Plan A | Plan B | Plan C | Plan D | Plan F | Plan G | Plan K | Plan L | Plan M | Plan N |
Medicare Supplement Plan M (and several others) is now available for purchase as of June 1, 2010. As one of several new plans, these new plans offer attractive coverage for those willing to exchange higher out of pocket expenses for lower monthly premiums.
Medicare Supplement Plan M is a cost sharing plan. What this means is that "the insured is responsible for any additional out of pocket expenses when compared to Plan C, Plan D, Plan F and Plan G." Ultimately, they work similar to Medicare Advantage coverage, however, unlike Advantage plans, there will be no network restrictions for the insured.
The freedom from having to operate within a small network of health care providers will be a distinct advantage for Plans M; you are free to visit any doctor or hospital that accepts Medicare patients!
Many states (for example Ohio and Pennsylvania) do not allow doctors to charge for Part B excess. If you live in one of these states and plan on maintaining a residence there, then you need not worry about this benefit. If you live in a state that does allow for these charges, then be aware that you could have higher out of pocket expenses should you choose a supplement that does not cover Part B excess.
There are several supplemental providers offering either Plan M, N, or others through independent agents. Depending on your state and zip code of residence there will be a handful of competitive providers, including Mutual of Omaha, Assured Life, Family Life, Gerber Life, Loyal American, Anthem, United Healthcare and a few others who offer affordable coverage in several states.
Benefit Chart of Medicare Supplement Plans Sold for Effective Dates as of June 1, 2010
| Plan A | Plan B | Plan C | Plan D | F | F* | Plan G | Plan K | Plan L | Plan M | Plan N |
|---|---|---|---|---|---|---|---|---|---|---|
| Basic, including 100% Part B co-insurance. |
Basic, including 100% Part B co-insurance. |
Basic, including 100% Part B co-insurance. |
Basic, including 100% Part B co-insurance. |
Basic, including 100% Part B co-insurance. |
Basic, including 100% Part B co-insurance. |
Hospitalization and preventative care paid at 100%; other basic benefits paid at 50% | Hospitalization and preventative care paid at 100%; other basic benefits paid at 75% | Basic, including 100% Part B co-insurance. |
Basic, including 100% Part B co-insurance except** |
|
| Skilled Nursing Facility Co-insurance | Skilled Nursing Facility Co-insurance | Skilled Nursing Facility Co-insurance | Skilled Nursing Facility Co-insurance | 50% Skilled Nursing Facility Co-insurance | 75% Skilled Nursing Facility Co-insurance | Skilled Nursing Facility Co-insurance | Skilled Nursing Facility Co-insurance | |||
| Part A Deductible | Part A Deductible | Part A Deductible | Part A Deductible | Part A Deductible | 50% Part A Deductible | 75% Part A Deductible | 50% Part A Deductible | Part A Deductible | ||
| Part B Deductible | Part B Deductible | |||||||||
| Part B Excess (100%) | Part B Excess (100%) | |||||||||
| Foreign Travel Emergency | Foreign Travel Emergency | Foreign Travel Emergency | Foreign Travel Emergency | Foreign Travel Emergency | Foreign Travel Emergency | |||||
| Out-of-Pocket limit at $4,620; paid at 100% after limit reached | Out-of-Pocket limit at $2,310; paid at 100% after limit reached | |||||||||
| *Plan F also has an option called a high deductible Plan F. This high deductible plan pays the same benefits as Plan F after one has paid a calendar year $2,000 deductible. Benefits from high deductible plan F will not begin until out-of-pocket expenses exceed $2,000. Out-of-pocket expenses for this deductible are expenses that would ordinarily be paid by the policy. These expenses include the Medicare deductibles for Part A and Part B, but do not include the plan’s separate foreign travel emergency deductible. **Plan N includes Basic, including 100% Part B co-insurance, except up to $20 copayment for office visit, and up to $50 copayment for ER. |
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