While Plan A is regarded as the most basic plan with a very simple breakdown of four key benefits, Plan B takes this a little further and covers the Medicare Part A hospital deductibles that Plan A does not.
What Is Included as Part of Medigap Plan B Coverage?
As is the case with Plan A, we often see individuals getting their Medigap Plan B mixed up with their Medicare Part B coverage. Despite having the same letters, these are no more linked than Plan A and Part A and should be considered separate entities.
The main features and benefits of Medigap Plan B cover:
- Coinsurance and hospital costs as part of Medicare Part A
- Coinsurance or copayment costs incurred as part of Medicare Part B
- Hospice care coinsurance or copayment as part of Medicare Part A
- First three pints of blood required as part of treatment
- Full payment of the Medicare Part A deductible
How Much Does Medigap Plan B Cost?
Because Medigap Plan B is optional, every insurance provider can set their own rates despite the offering being largely the same due to the standardized benefits across all providers. There are a wide variety of factors which will be taken into account in determining the rate which you will need to pay for Medigap Plan B coverage, including:
- Where you live
- Your gender
- Your age
- Tobacco usage
- Eligibility for other household discounts and supplements
The main thing to look for when you seek out a provider to support your Medigap Plan B coverage is one with a history of consistently low rates that stay low year on year. As the benefits are always the same across providers, only cost and reliability should remain factors in your decision-making.