Medicare Supplement Plans

Helping North and South Carolina understand the ins and outs of medicare

What Is Medicare Supplemental Insurance?

Medicare supplemental insurance is often referred to as Medigap, so don’t worry if you hear or see the names mentioned interchangeably—they’re the same thing. Medigap policies are sold by private insurers, though the plans themselves are federally regulated. Each plan is designed to provide extra coverage and fill in any gaps Medicare leaves behind.

How Does Medigap Work?

Original Medicare has gaps—or costs that would usually fall to you, such as deductibles, coinsurance, and co-payments. Medigap helps to cover those costs. After Medicare pays its portion of your healthcare expenses, your Medigap will then pay its share, which, depending on your policy, might be the entirety of your bill.

What Does Medigap Cover?

Medigap is made of up 10 plans: A, B, C, D, F, G, K, L, M, and N. Because the plans are federally regulated, the benefits are the same across all insurance providers. The only difference is typically the cost of the monthly premium, so shopping around for the best rate is a must. The team at Carolina Insurance Partners can help you do just that to make sure you get the best price.

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What Are the Different Medigap Plans?

Plan A

This plan has fewer benefits than other Medigap insurance plans, but still covers the 20% of outpatient medical care that you’d usually be responsible for.

Plan B

Plan B has the same benefits as Plan A, with the addition of covering your Part A hospital deductible.

Plan C

Plan C covers almost all expenses that would normally fall to you, save for excess charges—a 15% surcharge on healthcare services your doctors may or may not charge.

Plan D

This plan covers almost everything. The only costs you’ll still be responsible for are excess charges and your Part B deductible.

Plan F

Plan F is the most comprehensive Medigap plan. It covers 100% of the costs you would normally be responsible for—hence its popularity.

Plan G

Plan G is similar to Plan F in its coverage. The only thing you’re responsible for paying is your Part B deductible. Plan G then pays for everything else.

Plan K

This plan offers lower premiums in exchange for fewer benefits. It covers your Part A deductible, but you’ll share in costs for almost everything else.

Plan L

Plan L and Plan K are nearly identical, except Plan L has slightly higher premiums and slightly reduced cost-sharing.

Plan M

This newer plan covers almost everything. You’ll only be responsible for half of your Part A deductible and all of your Part B deductible, plus any excess charges.

Plan N

Plan N offers many of the same benefits as the other plans. You will be responsible for your Part B deductible, as well as any excess charges.