Medigap Plan M is one of the 10 available Medicare Supplement Plans. These serve the purpose of chipping in and paying for the costs that your original Medicare cannot pay for. The Medicare Supplement Plans 2019helps with issues like coinsurance, copayments, and deductibles whenever necessary so that you do not have to pay for them from your own pocket, a venture that can be quite costly in most cases.
Medigap Part M Coverage
Just like the other 9 Medigap Plans, Medicare Supplement Plan M is not comprehensive and as such, does not cover all the costs. Plan F and G are usually the more comprehensive options but these come with some hefty premiums as well. Medigap Plan M is beneficial when it comes to covering the gaps incurred in
- Skilled nursing facilities
- Medicare Part A Hospice Care
Aside from these, the policy also helps to cover expenses approved by Medicare that the original cover does not take care of directly. Such expenses come about from
- Approved supplies
- Therapy sessions
- Inpatient and outpatient treatments and surgeries
Medigap Part M Benefits
Here are some of the benefits that accompany the Medicare Supplement Part M policy
- Hospital costs and hospital coinsurance for Medicare Part A. It covers up to 365 days after the benefits of your original Medicare plan have been fully utilized and exhausted
- Coinsurance and copayments for Medicare Part A Hospice Care
- The first three pints of blood required for an approved medical procedure
- 50% of your Medicare Part A deductible
- Coinsurance for services offered at a skilled nursing care facility
- Emergency travel coverage for foreign travel. This goes up to 80% of your plan limit for all of your approved costs
- Coinsurance and copayments for Medicare Part B
Medigap Part M does not cover your Medicare Part B deductibles or the other half of your Medicare Part A deductible. This Medigap Plan also doesn’t extend its cover to Medicare Part B excess charges. This is the amount above the approved Medicare rate that a doctor may charge you for services rendered. It has a maximum allowance of up to 15% of the assigned service charge.
Without an out of pocket limit, plan M leaves you catering for all of your out of pocket costs. In other Medigap Plans where such a limit exists, then you are only liable to pay for such expenses up to a certain point where your Medigap Policy kicks in and covers you for 100% of the costs from that point onwards till the end of that calendar year.
It is important to understand that though a good plan, Medicaid Plan M may not be present in your state. Even though these Plans are regulated and standardized, it still falls upon the insurance providers to decide on which policy they sell to the residents of a certain State.