Low premiums offered by Medicare Supplement plans N & M

With the passing of Medigap Modernization Act in 2010, some changes were introduced that can be noticed in the standardized Medicare Supplement Plans 2018. Among the different Medicare Supplement Plans 2018, plans J, I, H and E have been eliminated. Even two benefits which has been eliminated are preventative care and at home recovery, since these were found to be underused completely by the beneficiaries. The other important changes tend to include adding Hospice benefit to every supplement plan introduced, since it is likely to become core benefit for all Medigap plans.

What is included in the Medicare Supplement Plans 2018?

The modernized supplement plans are found to include two plan letters which is found attractive to those on Medicare Advantage plan. The two plans in question are Plan N and M. With the premium of Medicare Advantage plan rising with time, and physicians in increasing numbers preferring not to participate in the plans, Medigap M & N plans are known to offer the users with different cost sharing features to allow lowering of premium amount when compared to plans like Plan G and Plan F.

Supplement Plan M

Cost sharing option is offered by Plan M which is found to be attractive by the Medicare beneficiaries, especially those found to be relatively healthy. 50% of Part A Medicare deductible is paid by Plan M that was considered to be $1100 in 2010 per benefit period. For instance, if the person has been admitted in a hospital and has Medigap Plan M, then he has to pay half the deductible amount. For Part A Medicare deductible, current rule applies, which states that the person on getting admitted and leaves for sixty days or more, again requiring to return in the same calendar year, then this deductible is to be paid again. With this plan, the person is responsible to pay Part B Medicare deductible, beyond which no physician office co-pays as well as 20% co-insurance amount is paid.

Supplement plan N

The other popular of the Medicare Supplement Plans 2018 is plan N. it offers cost sharing choices to the beneficiary and is in co-pay form. If admitted to hospital and holding supplement plan N, then copay amount is to be paid. Per visit physician visit copay is to be paid after meeting Part B Medicare annual deductible. Such copays allow Medigap Plan N premiums to be much lower and just fabulous for those coming off from Medicare Advantage Plan.