Medigap plan B: Overview
Medicare supplements, also known as Medigap plans, are insurance policies that help cover some of the costs that are not covered by Medicare. There are ten different Medigap plans available, and each one offers a different level of coverage.
Medigap plan B is one of the most popular plans, as it offers a good level of coverage at a relatively affordable price. Medigap plan B covers 100% of the Part A coinsurance and hospital costs, as well as 80% of Part B coinsurance and copayments. It also provides coverage for the first three pints of blood, as well as 50% of the cost of foreign travel emergency care.
Medigap plan B Coverage
Medigap Plan B covers everything Medigap Plan A does plus your hospital deductible. This means it covers 100% of the costs associated with these four things:
- Medicare Part A coinsurance payments for inpatient hospital care for up to an additional 365 days after Medicare benefits are exhausted
- Medicare Part B copayment or coinsurance expenses
- The first three pints of blood used in a medical procedure
- Part A hospice care coinsurance expense or copayment
- Part A hospital deductible
Medigap plan B Enrollment
If you are thinking about enrolling in Medigap plan B, there are a few things you should keep in mind. First, you must be enrolled in Medicare Part A and Part B in order to be eligible for a Medigap plan. Second, you can only enroll in a Medigap plan during your six-month Medigap open enrollment period. This period begins on the first day of the month in which you turn 65, or the month in which you become eligible for Medicare, whichever comes first. Third, Medigap plans are not available to people who are already covered by a Medicare Advantage plan.