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Different Types of Medicare Supplement Plans

Medicare Supplement Plans, also known as Medigap plans, provide coverage for millions of Medicare beneficiaries. These plans help pay for any gaps not covered by Medicare, such as your coinsurance or deductibles. These plans are a great choice if you don’t want to ‌pay out-of-pocket for your health care, and there are a range of plan options available in North Carolina. 

HealthPlans of NC

Health Plans of NC, Kelly Quinn

Many North Carolinians are surprised to learn that Medicare only covers 80% of your Part B medical costs, and you cover the remaining 20%. If you have any serious illnesses or injuries, this may end up costing you a lot of money. Medicare Supplement Plans help cover these additional costs and some other health care items. In addition, it offers you peace of mind by removing a lot of cost-sharing responsibility. 

At Health Plans of NC, our local and experienced Medicare agents can help you find the right Medicare Supplement Plan for your needs. There are 10 different plans available, each with various benefits. 

How do Medicare Supplements work?

When you visit a health provider and have a Medicare Supplement Plan, your health care provider will perform their service and bill Medicare. Medicare then pays their portion of the bill and sends the rest to Medigap, where the insurer pays the excess amount according to your plan. 

Benefits of Medicare Supplement Policies

Supplemental plans help pay for your outpatient expenses. This can help you manage your budget, knowing you won’t have to pay each time you visit the doctor. Some other benefits include:

  • You can choose your healthcare provider

  • You don’t need a referral to visit a specialist

  • You’re covered nationwide, so you’re not restricted to care just in North Carolina

  • There are no claims paperwork to fill out

  • Your policy is guaranteed to renew, which means your insurer can’t change your coverage or cancel your coverage because of a health condition

  • Predictable health care costs

  • You’re guaranteed coverage if you enroll during your one-time initial enrollment period, regardless of your current health.

Different Medicare Supplement Plans

Each of the 10 Medicare Supplement Plans has a specific letter, from A to N. Each plan letter offers different benefits, but all are required to have standardized coverage regardless of the insurance carrier. Below is an overview of coverage for each type of plan available. 

(Note: Plans C and F are no longer available to people new to Medicare on or after January 1, 2020)

Medigap Plan A: this is the most basic of the supplemental plans available, with only a few benefits. All insurance carriers must offer Medigap Plan A to sell Medicare Supplement Plans.

Medigap Plan B: these plans offer similar benefits to Plan A, covering Original Medicare Part A hospital deductible. 

Medigap Plan C: covers nearly all of Original Medicare’s copayment requirements, minus any Part B excess payments.

Medigap Plan D: this type of plan is a mid-range plan that offers more coverage than plans A and B but fewer benefits than Medicare Supplement Plan F and Medicare Supplement Plan G. 

Medigap Plan F: this plan covers all the Medicare gaps, so you don’t have to pay any out-of-pocket costs. It’s one of the most popular types of Medigap plans available. 

Medigap Plan G: this plan allows you to do some cost-sharing by paying a lower monthly premium.  It is the most popular now that F is no longer available.  It covers all the Medicare gaps except the Part B annual deductible.  

Medigap Plan K: this covers Original Medicare’s hospital deductible, along with 50% of coinsurance expenses. In 2022, the maximum out-of-pocket for Plan K is $6,620.

Medigap Plan L: this plan covers some of your out-of-pocket expenses not covered by Original Medicare. In 2022, the maximum out-of-pocket limit for Plan L is $3,310. 

Medigap Plan M: this type of plan offers you a lower premium for you agreeing to pay a share of your Original Medicare deductibles. 

Medigap Plan N: this is one of the most popular plans available. It’s similar to Plan G, where you agree to pay for a few costs to access lower premiums. 

You can also purchase Medigap Plans F and G with high deductible options. Talking to a specialized Medicare Supplement Plan agent can help you choose the best plan for you. At Health Plans of NC, we have agents throughout North Carolina who can answer all your Medicare questions.

Help to find the right Medicare Supplement Plan for you

If you’re looking to compare Medicare Supplement plans, our experienced and independent local Medicare agents can help. We specialize in assisting North Carolina residents and answering questions relating to Medicare. So if you need help finding a Medicare Supplement quote or for more detailed information, get in touch with one of our Medicare agents NC today.

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Ready to get started?

See plans and pricing today.