Medigap Plan B
Medicare Supplement Insurance, also known as Medigap, helps pay the out-of-pocket costs that remain after Original Medicare plans pay their approved portion of your health care costs. Insurance companies are currently able to offer ten plans, with each offering a specific arrangement of benefits. This is what you need to know before signing up for Medigap Plan B.
Medigap Plan B Benefits
Medigap Plan B is not considered a comprehensive plan, but it does offer some potentially valuable benefits. Primarily, Plan B will cover your Medicare Part A deductible, which is often more than $1,400. In addition to the Part A deductible, Plan B also covers 100% of the following costs:
- Medicare Part A coinsurance and hospital costs for up to 365 days after your Medicare benefits run out.
- Medicare Part B coinsurance and copayments
- Blood to be used in a medical procedure, up to 3 pints.
- Part A hospice care coinsurance and copayments
Medigap Plan B Costs
Medigap Plan B is a mid-level plan, therefore you can expect it to have relatively low costs. Although Plan B will have higher costs than the most basic plan, Plan A, you won’t be paying nearly as much in premiums as you would for the more comprehensive plans. Though, you should keep in mind that you will be required to pay all out-of-pocket costs related to medical care that isn’t covered by your policy.