An Overview of Medigap Plan M for Seniors Over 65
If you’re about to turn 65, you’ve probably heard about the Medicare Advantage Plans available to those over the age of 65. It can be overwhelming to try and understand the different parts and what they cover. But don’t fret – we’ve got you covered! Let’s take a look at one of the most popular plans, Medigap Plan M.
What is Medigap Plan M?
Medigap Plan M is a supplement plan that helps cover some Medicare-related costs that Original Medicare does not cover. This includes deductibles, copayments, coinsurance and other charges that are related to your medical care. It also covers up to 80% of emergency medical treatment if you have an accident while traveling outside of the United States.
What Does it Cover?
Medigap Plan M offers coverage for doctor visits and hospital stays, as well as preventive services like flu shots and other immunizations. It also covers up to 80% of Part A coinsurance costs after you meet your deductible ($1,408 in 2021). Additionally, it covers 50% of Part B coinsurance or copayment amounts after you meet your annual deductible ($203 in 2021). You will also receive coverage for three pints of blood per calendar year after meeting your annual deductible. Lastly, it also covers 80% of emergency medical treatments received when traveling outside the United States.
How Much Does it Cost?
The cost of Medigap Plan M varies from state to state, but typically falls between $160-$220 per month depending on your location and age. Additionally, if you are married and both spouses are enrolled in Medigap Plan M, then each spouse will pay their own monthly premium plus any administrative fees required by their insurance provider. However, keep in mind that these premiums are subject to change at any time so make sure to stay informed about any changes in pricing or coverage before signing up for this plan.
Overall, Medigap Plan M is a great option for seniors over 65 who want supplemental coverage beyond what Original Medicare provides. It provides essential coverage for doctor visits, hospital stays and preventive care as well as offering additional protection if you have an accident while traveling outside the United States. The cost can vary depending on where you live but typically falls between $160-$220 per month which is relatively affordable compared with other plans available on the market today. So if you’re looking for supplemental health insurance coverage when turning 65 then consider enrolling in a Medigap Plan M!