Medicare Plan B, or Medigap Plan B, is a Supplement plan with significant advantages. Medigap Plan B is similar to Medigap Plan A but has additional benefits.
Medigap Plan B Benefits
Medigap Plan B benefits include Medicare Part A Coinsurance, and hospital costs up to 365 days after your Medicare benefits are used. Plan B includes your Part B coinsurance or co-payments, and Plan B also covers Hospice co-payments or coinsurance. Also included are the first 3 pints of Blood product and your Medicare Part A deductible.
What is NOT Included in Medigap Plan B?
Some of the items not included in Medigap Plan B but often included in other Supplement Plans are no coverage of the Skilled Nursing Facility coinsurance or co-payments. The Part B deductible ($226.00 for the 2023 plan year) is not included in this Supplement Plan. You are also responsible for any Part B excess charges you incur. Please check out our article on Part B Excess Charges if you are unfamiliar with what they are. There is also no benefit for foreign emergency travel coverage with Plan B.
What Makes Plan B a Good Option?
Medigap Plan B is a good option for many people because the cost-sharing allows for lower premiums than other Supplement plans while covering some of the significant out-of-pocket expenses you can incur with Medicare. Covering the Medicare Part A deductible can make a significant impact since the deductible is a per-incident deductible and not an annual deductible. The Part B deductible is a yearly fee, and people can budget accordingly.
Medicare Plan B is NOT Part B
Medicare Plan B is a Medicare Supplement PLAN. Please don’t confuse it with Medicare PART B. Medicare Part B is the outpatient coverage you purchase directly from Medicare. Your Supplement PLAN B is purchased through a broker and paid to an insurance company to help you manage the out-of-pocket costs associated with Medicare coverage.
Are you confused?
If you are confused about the differences between PARTS and PLANS or which plan is right, we would be happy to help you navigate the Medicare options. We are insurance experts who love helping people learn and understand their options and empowering them to make the right choice for you and your unique situation. 352-508-4221