Medigap Plan M
What is Medigap Plan M and how does it work?
Medicare Supplementary Plan M is provided by US government approved private Medicare insurance companies and it takes care of part of your Original Medicare expenses. It offers reduced premium costs on your Original Medicare deductibles while offering several benefits.
What are Medigap Plan M benefits?
Medigap Plan M covers the following healthcare costs:
- Medicare Part A hospital and coinsurance expenses for up to an additional 365 days after exhausting Medicare benefits.
- Medicare Part A hospice care coinsurance and copayments.
- 50% of your Medicare Part A deductibles
- Medicare Part B copayments or coinsurances
- The first three pints of blood during medical procedures
- Skilled nursing healthcare facility coinsurance
- 80% of your Foreign travel healthcare emergency coverage
However, Medigap Plan G does not cover Medicare Part D excess charges and deductibles.
When is the right time to enroll for Medigap Plan M and how do I apply?
The perfect time to enroll in Medigap Plans is the six months right after you start receiving Medicare Part B benefits. At this time, you can get lower premiums on your Medigap plans, even if you have pre-existing health conditions. You can, however, apply for your Medigap enrolment at any time.
To apply, all you need to do is visit your Medigap insurance provider and start the enrolment process. You can also get in touch with one of our Medicare insurance brokers to help you with the enrolment process.