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(417) 633-7200

Location

Springfield, Missouri

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Plan B

Original Medicare covers 80% of healthcare services but Medicare beneficiaries may be responsible for the other 20% of the costs such as deductibles, copays, and coinsurance. Medicare Supplement plans are offered by private insurance companies and they help you pay for out-of-pocket expenses associated with Original Medicare. Medigap Plan B offers all the same benefits as Plan A, but it also includes coverage of the Part A deductible, which amounts to a significant cost.

There are 10 Medigap plans, and they are labeled from Plan A to Plan N in the states where they’re available. Even though insurance companies are not obligated to offer all existent Medigap policies, they must provide Plan A, Plan C, or Plan F. Since these are standardized plans, they must all provide the same basic benefits.

Coverage Details​

Medigap Plan B

Medigap Plan B covers:

  • Part A coinsurance and up to an additional 365 days of hospital costs after Medicare benefits are exhausted
  • Part B coinsurance/copayment
  • Blood (3 pints)
  • Part A hospice coinsurance/copayment
  • Part A deductible
  • No out-of-pocket limit

What Plan B Doesn't Cover

  • Skilled nursing facility care coinsurance
  • Foreign travel exchange
  • Part B deductible
  • Part B excess charge

Individuals Who Benefit from Plan B

Individuals who would be well-suited for Plan B would ideally be in good health, not travel outside of the United States, and are not concerned with out-of-pocket expenses. These individuals may also be searching for a Medicare supplement with a lower monthly premium.

Medigap Plan B isn’t for everyone and if you want a minimum amount of additional coverage at a lower cost this plan might be an adequate option. However, if you would like to have more comprehensive coverage you should consider other supplement plans which may provide you with better benefits but might come with higher cost premiums. There are various Medigap plan types you can choose from but it is important that you are aware of your specific health condition, lifestyle, and financial situation so that you can choose a plan that best fits your individual needs.

Medigap Plan B Premiums

Individual premiums will vary based on which state the individual is seeking coverage in, which carrier they’re purchasing from, and also individual factors like gender, age, tobacco use, and a few other details. The average cost for Plan B ranges from $110-$210 each month. In general, Plan B monthly premiums are higher in states that have a higher cost of living.

When To Enroll In Medigap Plan B

You are eligible to enroll in a Medigap Plan B as soon as you get your Medicare Part B coverage and it becomes effective. After that, there is a 6-month period, also known as the Open Enrollment Period, during which you are allowed to enroll with guaranteed issues which means you can enroll without answering underwriting health questions. You still have the opportunity to enroll anytime you want outside this period but with the condition of having to answer some questions about your health status.

How to Compare

Medigap Plan B Rates

While this can be confusing, “plans” and “parts” mean different things in Medicare. “Parts” refer to benefits of Original Medicare and “plans” refer to Medicare supplements.

Medicare Part B includes outpatient coverage for visits to a doctor’s office, preventive care, etc. Medigap Plan B is the supplemental coverage you can purchase to fill in the gaps in coverage of Medicare Parts A and B.

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Medigap Plan B and Prescription Drug Coverage

Plan B will cover some medications that are administered while under inpatient and that are also covered under Medicare Part B. For any other prescription medications, individuals will need to enroll in a stand-alone Part D prescription drug plan.

Medigap Plan B versus Medicare Part B

While this can be confusing, “plans” and “parts” mean different things in Medicare. “Parts” refer to benefits of Original Medicare and “plans” refer to Medicare supplements.

Medicare Part B includes outpatient coverage for visits to a doctor’s office, preventive care, etc. Medigap Plan B is the supplemental coverage you can purchase to fill in the gaps in coverage of Medicare Parts A and B.

  • We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area, and any information we provide is limited to those plans we do offer in your area. Please get in touch with Medicare.gov or 1-800-MEDICARE to get information on all your options. Health Insurance sold on moinsuranceadvice.com is processed through the licensed entity: Temmen Insurance, Inc. 2024 All rights Reserved.
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