With thousands of people turning 65 and aging into Medicare, having the right product and having access to competitive affordable Medicare Supplement plans is important in providing financial security and peace of mind for the senior population.
Standard Medicare Supplement Benefits
Medicare Supplement insurance can be sold in only ten standard plans. The chart below shows the benefits included in each plan. (For more details read Federal Brochure for Choosing a Medigap Policy )
Basic Benefits are included in all plans. They include:
The basic benefits (also known as the "core benefits" or Plan A) are the minimum coverage you may buy. These are the only benefits in Plan A. Every other plan contains these three benefits as the "core" and then adds one or more additional benefits.
Note: Plan A contains only these 3 core benefits. Although Plan A is the least expensive policy, it may not be a good choice for low-income individuals who may not be able to afford the Medicare Part A hospital deductible when they are hospitalized.
There are five additional benefits that are combined with the basic benefits in various ways to make up the nine remaining plans called Plan B through Plan N.
If your doctors do not accept Medicare assignment, they may bill you for the difference between the amount paid by Medicare and the amount they can legally charge you (called the "limiting charge"). If you have a Medicare Supplement Policy with the following:
(Remember that this coinsurance amount is paid by the Medical Expenses part of the Basic Benefits that are part of every Medicare Supplement insurance policy).
Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare
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