Plan B is one option for Medicare Supplement Insurance (Medigap). It can help cover certain costs associated with Original Medicare (parts A and B), such as copayments and deductibles.
Medigap is supplemental insurance that is available to purchase from Medicare-approved private insurance companies if you have Original Medicare. It helps pay your share of out-of-pocket costs associated with Original Medicare, such as deductibles, copayments, and coinsurance.
Some Medigap plans can also help cover certain other “gaps” in coverage, like emergency care during foreign travel and Part B excess charges.
Glossary of common Medicare terms
- Out-of-pocket cost: This is the amount you pay for care when Medicare doesn’t pay the full cost or offer coverage. It includes premiums, deductibles, coinsurance, and copayments.
- Premium: This is the monthly amount you pay for Medicare coverage.
- Deductible: This is the annual amount you must spend out of pocket before Medicare begins to cover services and treatments.
- Coinsurance: This is the percentage of treatment costs you’re responsible for paying out of pocket. With Medicare Part B, you typically pay 20%.
- Copayment: This is a fixed dollar amount you pay when receiving certain treatments or services. With Medicare, this often applies to prescription medications.
Medigap plans are categorized with letters. Each letter plan provides different coverage. However, this coverage is standardized across insurance companies. This means that for a plan, like Plan B, the only difference between companies is the cost of coverage.
You cannot have a Medigap plan if you have a Medicare Advantage (Part C) plan.
Medigap Plan B covers:
While Medigap Plan B covers most of the benefits offered by Medigap, there are certain things that it doesn’t cover.
Benefits not covered by Medigap Plan B include:
- coinsurance for skilled nursing facilities
- Medicare Part B deductible
- Medicare Part B excess charges
- emergency care during foreign travel
Other Medigap plans may offer coverage for these benefits. You can compare plan costs and find plans available in your area using the Medicare plan finder tool.
The following charts show how Medigap Plan B compares to other Medigap plans.
| Medigap Benefit | Plan A | Plan B | Plan C | Plan D | Plan F |
|---|---|---|---|---|---|
| Part A hospital coinsurance (up to 365 additional days) | yes | yes | yes | yes | yes |
| Part B coinsurance or copayment | yes | yes | yes | yes | yes |
| Part A hospice coinsurance or copayment | yes | yes | yes | yes | yes |
| Skilled nursing facility coinsurance | no | no | yes | yes | yes |
| Part A deductible | no | yes | yes | yes | yes |
| Part B deductible | no | no | yes | no | yes |
| Part B excess charges | no | no | no | no | yes |
| Foreign travel emergency | no | no | 80% | 80% | 80% |
| First 3 pints of blood | yes | yes | yes | yes | yes |
| Medigap Benefit | Plan G | Plan K | Plan L | Plan M | Plan N |
|---|---|---|---|---|---|
| Part A hospital coinsurance (up to 365 additional days) | yes | yes | yes | yes | yes |
| Part B coinsurance or copayment | yes | 50% | 75% | yes | yes |
| Part A hospice coinsurance or copayment | yes | 50% | 75% | yes | yes |
| Skilled nursing facility coinsurance | yes | 50% | 75% | yes | yes |
| Part A deductible | yes | 50% | 75% | 50% | yes |
| Part B deductible | no | no | no | no | no |
| Part B excess charges | yes | no | no | no | no |
| Foreign travel emergency | 80% | no | no | 80% | 80% |
| First 3 pints of blood | yes | 50% | 75% | yes | yes |
Medigap Plan B is one option for Medicare supplement insurance. It helps cover many of the costs associated with Original Medicare.
If you have Original Medicare, you can purchase a Medigap plan through a Medicare-approved private insurance company.