Everything You Need to Know About Medigap Plan M

Reviewed and Updated by Kelsey Davis,

More than one in four beneficiaries are enrolled in a Medicare Supplement (Medigap) plan. These plans work alongside Original Medicare and provide financial protection like help paying for your deductibles, coinsurance, and copays. There are ten different types of plans (A, B, C, D, F, G, K, L, M, and N) and each letter represents a different level of protection for a different price. You can have fewer benefits for a smaller monthly premium, or get more benefits for a slightly higher monthly premium. Is Medigap Plan M right for you?

What is Medigap Plan M?

Medigap Plan M is one of the cheaper options on the market because it doesn’t offer as many benefits. However, it still has more benefits than other plans (like plans K, L, and A). Specifically, Plan M covers:

  • 100% of blood work copays (up to three pints)
  • 100% of hospice coinsurance & copayments
  • 100% of skilled nursing facility insurance
  • 100% of your Part A coinsurance & hospital costs
  • 100% of  your Part B coinsurance & copayments
  • 100% of your Part B excess charges
  • 50% of your Part A deductible
  • 80% of a foreign travel emergency

The only benefit that is not covered is the Part B deductible. The only plans that cover the Part B deductible are Plan F and Plan C, but they are both going away in 2020. This is because Congress found that paying the Part B deductible encouraged people to go to the doctor more often than needed. You will need to enroll before 2020 to be grandfathered-in. However, if you choose to enroll in another plan (like Plan M), you will be responsible for the Part B deductible, but it’s only $185 in 2019.

Medicare Plan M vs. Medicare Part M (Are They Different?)

Medicare can be overwhelming, and it’s easy to confuse all the different parts and plans. Medicare “parts” refer to parts A and B (Original Medicare), Part C (Medicare Advantage), and Part D (prescription drug coverage). “Medicare plans” are generally referring to Medigap plans, and as we mentioned there are ten different types. There is no “Medicare Part M.” The proper name for Medicare Plan M is “Medicare Supplement Plan M” or “Medigap Plan M.”

Medigap Plan M Eligibility

To be eligible for any Medigap plan, you must be enrolled in parts A and B first. Medigap plans are sold through private insurance companies. However, most states are not required to sell Medigap plans to beneficiaries under 65. This means if you qualified for Medicare through ESRD (end-stage renal disease), ALS (Lou Gehrig’s disease), or SSDI (Social Security Disability Income) and are not 65, you can be denied Medigap coverage. To find out if you’re eligible, click here or give us a call at 844-431-1832.

What is the Cost of Medigap Plan M?

Medigap plans (A, B, C, D, F, G, K, L, M, and N) are generally very similar no matter which carrier you buy from. For example, Plan M from Carrier one would offer mostly the same benefits as Plan M from Carrier two. However, pricing can differ based on carrier, zip code, age, gender, and tobacco use. Our licensed agents can show you all of the available plans in your area and help you enroll in the plan with the best price. Click here or call 844-431-1832 to contact a licensed agent.

Medicare Plan M Reviews

Top Medigap carriers for 2019 include:

  • AARP
  • Aetna
  • Blue Cross Blue Shield
  • Cigna
  • Conseco
  • Gerber
  • Mutual of Omaha
  • Liberty National
  • Oxford
  • Physicians Mutual
  • State Farm
  • TransAmerica

Medicare Plan M vs Plan N (and other popular plans)

Some people confuse Medigap Plan M with Plan N. Plan N is one of the most popular plans (along with Plan G). Plan G covers everything except the Part B deductible. More specifically, it covers:

  • Blood work copays up to three pints (100%)
  • Foreign emergency travel (80%)
  • Hospice coinsurance and copayments (100%)
  • Part A coinsurance and hospital costs (100%)
  • Part B coinsurance and copayments (100%)
  • Part A deductible (100%)
  • Part B excess charges (100%)
  • Skilled nursing facility coinsurance (100%)

The only benefit that is included in Plan G that Plan N does not cover is the Part B excess charges. However, excess charges are relatively rare. You will only be charged an excess charge if your provider does not accept Medicare. If you would prefer to pay a bit more towards your monthly premium in exchange for coverage on excess charges, Plan G may be perfect for you.

Other popular plans include Plan F and Plan C, but as we mentioned, they are going away in 2020. These plans are popular because they cover the Part B deductible. The only difference between Plan F and Plan C is that Plan F covers Part B excess charges. Click here to find out which Medigap plan is best for you.

How to Enroll in Medigap Plan M

Did you know you can enroll in Medigap Plan M (or any Medigap plan) any time of the year? But if you wait too long, carriers can charge you more or even deny you coverage based on any health conditions you may have. Your best bet is to enroll during your Initial Enrollment Period (IEP). During this time, you shouldn’t be denied or charged more based on any conditions. If you IEP has already passed, that’s okay! One of our licensed can still show you plans that are available in your area. Click here or call 844-431-1832h.

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