Medicare supplement Plan M is one of the ten supplement plans that are available through a public private partnership with the federal government. While it might not offer as much coverage as other plans, many people find that the combination of rates and coverage work just right for them.
Medicare Supplement Plan M Policy Specifics
There are ten key areas that any Medicare supplement plan can cover. Medicare supplement Plan M completely covers:
- Skilled Nursing Facility Car Coinsurance
- The cost of the first three pints of blood you receive in the hospital
- Hospice care coinsurance or copayment
- Medicare Part B Coinsurance or Copayment
- Medicare Part A Coinsurance
- Part A Hospital costs up to an additional 365 days after your Medicare benefits are used up
- Costs for a foreign travel emergency
In addition to these Medicare supplement Plan M also covers 50% of the Medicare Part A deductible of $1,340.
Medigap plan M does not cover:
- The annual deductible for Medicare Part B
- Any excess charges over the Medicare approved amount for Medicare Part B
During your supplement plan search, remember that no matter which company you go with, the coverage will be the same. Only the rates will be different.
Medicare Supplement Plan M Rates
The rates for any Medicare supplement plan will be slightly different for almost every individual. This is caused by differences in age, gender, location, and health. Your best bet is to get a set of quotes that will give you numbers for multiple different plans. This allows you to compare price vs coverage amount. So while Medicare supplement plan M does not have as much coverage as other plans, it may be much cheaper. You can learn more about the other Medicare supplement plans here.
The best way to handle this is through an independent insurance agent. The advantage to independent agents is that they do not work for any one insurance company. They are able to shop all the different companies that have coverage in your area. It would be our pleasure to help you through the process of determining which plan is the right one for you. Fill out the form on the side of this page or go here and we can get you a set of quotes for Medicare supplement Plan M and the other plans available in your area.