Medicare Supplement Plans (also called Medigap insurance) are policies that cover the “gaps” or out-of-pocket cost of Original Medicare. It has ten standardized plans to which Medicare Supplement Plan B is among them.
Medigap Plan B, though sometimes also referred to as Medicare Plan B, is very different from Medicare Part B. The latter refers to the half part of Medicare which provides outpatient health coverage. Medigap plan B, on the other hand, provides coverage to the out-of-pocket costs that you will incur from both Medicare Part A and Part B.
Medigap Plan B offers the following benefits:
- Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used up)
- Part A hospice care coinsurance or copayment
- The first three pints of blood per the calendar year
- Part A deductible coverage
- Part B coinsurance or copayment
Different types of Medigap plans provide different levels of coverage or benefits. Medigap plan B offers Part A deductible, so if you are someone who often needs Original Medicare Part A services, this plan might be the one for you.
Before Medigap open enrollment period, know that Plan B does not cover the following:
- Medicare Part B Deductible
- Skilled nursing facility coinsurance
- Medicare Part B excess charges
- foreign travel emergency
If you need those coverage, you might want to consider other types of Medigap to avoid a huge amount of out-of-pocket costs.
How much does Medicare Supplement plan B cost?
Just like other Medigap plans, Medigap Plan B premiums may vary across different locations and insurance companies. The average monthly premium of a Medicare supplement plan B is $449.
You can review quotes from various insurance companies to see how much Plan B will cost. On the other hand, FreeMedSuppQuotes provide informative quotes from top insurance companies well tailored from your personal details.
How many people are covered with Medigap Plan B?
In 2016, there are 273,199 people with Medigap Plan B. That is about 2% of the total Medigap policy holder’s population.
Is Plan B for me?
This plan may be right for you if you are someone who often needs inpatient hospitalization thus will gain benefit from Part A out-of-pocket coverage of Medigap Plan B.
Before choosing Medigap Plan B, make sure that you have already compared all Medicare Supplement plans first. See if this type of Medigap answers yes to most of your needs.
If you are still unsure but are still interested to find out more, feel free to reach us. Request a free Medicare Supplement quotes here, and one of our licensed insurance agent will contact you to discuss everything about Medigap with you.
The website and all of its contents are for informational purposes only. Nothing on this website should substitute any professional medical advice.