Medicare Supplement Plan M is a supplement plan with a low monthly premium and bigger out-of-pocket expenses. It is suited mostly for people who are comfortable with cost-sharing policy and do not expect to visit hospital often.
PLAN M COVERAGE
Medigap Plan M coverage extends to:
100% Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used up
50% Part A deductible
100% Part A hospice care coinsurance and copayment
100% of first 3 pints of blood every year
100% skilled nursing facility care coinsurance
100% Part B coinsurance and copayment
80% foreign travel medical costs
Plan M does not cover:
Part B deductible
Part B excess charges
Dental, Vision and Hearing care
PLAN M ENROLLMENT
For enrolling in Medigap Plan M, you probably want to enroll during your six-month Open Enrollment Period (OEP). It begins on the first day of the month that you’re both aged 65 or over, and enrolled in Medicare Part B. You must be enrolled in Medicare Part A and Part B, and live within the plan’s service area.
Outside your OEP, you may still apply for a Medigap plan, but you may need to take medical underwriting, and acceptance isn’t generally guaranteed.
MEDIGAP PLAN M COSTS
Medicare Supplement plans are standardized and regulated by the government but sold by private companies. Factors that make finale premium equation includes age, location and tobacco use. In 2022 average Plan M premiums range from $72 to $260 per month.