Medicare 101
The Benefits of Medicare Supplement Insurance Plans
by Christian Worstell | Published December 19, 2023 | Reviewed by John Krahnert
Medicare Supplement Insurance (also called Medigap) can help cover the costs of deductibles, copayments, coinsurance and other fees associated with Original Medicare (Part A and Part B). Compare the basic benefits of the 10 standardized Medigap plans listed below to find the right plan for your needs.
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Medicare Supplement Benefits
Part A coinsurance and hospital coverage
Part B coinsurance or copayment
Part A hospice care coinsurance or copayment
First 3 pints of blood
Skilled nursing facility coinsurance
Part A deductible
Part B deductible
Part B excess charges
Foreign travel emergency
| Medicare Supplement Benefits | A | B | C* | D | F1* | G1 | K2 | L3 | M | N4 |
|---|---|---|---|---|---|---|---|---|---|---|
| Part A coinsurance and hospital coverage | ||||||||||
| Part B coinsurance or copayment | 50% | 75% | ||||||||
| Part A hospice care coinsurance or copayment | 50% | 75% | ||||||||
| First 3 pints of blood | 50% | 75% | ||||||||
| Skilled nursing facility coinsurance | 50% | 75% | ||||||||
| Part A deductible | 50% | 75% | 50% | |||||||
| Part B deductible | ||||||||||
| Part B excess charges | ||||||||||
| Foreign travel emergency | 80% | 80% | 80% | 80% | 80% | 80% |
* Plan F and Plan C are not available to Medicare beneficiaries who became eligible for Medicare on or after January 1, 2020. If you became eligible for Medicare before 2020, you may still be able to enroll in Plan F or Plan C as long as they are available in your area.
+ Read moreMedicare Supplement Insurance Covers Some Out-of-Pocket Costs
Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) offer benefits that help cover services such as hospital stays, doctor visits and preventive care — but they often come at a price.
- Medicare Part A Costs
Medicare Part A is premium-free for most people, but if you or your spouse did not pay Medicare taxes while working, you may be responsible for a premium up to $505 per month in 2024. The Medicare Part A deductible is $1,632 per benefit period in 2024, and you may have to pay coinsurance fees for hospital stays that last longer than 60 days. - Medicare Part B Costs
Medicare Part B has an annual deductible that is $240 in 2024. After you meet your Part B deductible, you are typically responsible for 20 percent of the costs for Medicare-approved services.
Medicare Part B also comes with a monthly premium. The standard Part B premium in 2024 is $174.70 per month.
Medicare Supplement Insurance can help cover some of these costs:
- Medicare Part A coinsurance and hospital costs
- Part A hospice care coinsurance or copayment
- Medicare Part B coinsurance or copayment
- First 3 pints of blood
- Coinsurance for skilled nursing facility
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part B excess charge
- Foreign travel emergency
Each of the nine Medigap health insurance plans cover the first four basic benefits listed above. Plans may cover some, all or none of the five additional benefits — partially or in full.
Speak with a licensed health insurance agent today by calling 1-800-995-4219. Compare plan quotes for free and find the policy that suits your needs.
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