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How much does Plan B cost?

Quick Note on “Plan B” vs. “Part B”

Medicare Supplement Insurance (Medigap) Plan B is very different from Medicare Part B. Medigap plans are supplemental coverage which help to fill some or all of the coverage gaps left by Original Medicare, whereas Medicare Part B is a component of Original Medicare offering medical insurance.

Costs

Plan B is one of the most affordable Medicare Supplement Insurance Plans on the market, with typical monthly premiums of about $180. Of course, this is an average price estimate. Different insurance companies set up their price rating systems in different ways. Because of this, the cost of Medicare Supplement Insurance plans can vary based on several factors, including one’s age, location, gender, health status, and whether you receive Medicare coverage due to age or disability. Thus, your individual experience may differ, and it is best to get quotes for your unique situation from multiple insurers before making a purchase. When comparing Medigap Plans, one should keep in mind that as much as prices may vary, all plans of the same letter are required to offer the same basic coverage.

Medicare Supplement Insurance Plan B covers:

  • Part A coinsurance and hospital costs up to a year after Medicare benefits are used up
  • Part B coinsurance/copayments
  • Part A deductible
  • Part A hospice care coinsurance/copayments
  • Blood transfusions up to 3 pints annually

Plan B does not cover:

  • Skilled nursing facility care coinsurance
  • Part B excess charge (from doctors who do not accept Medicare assignment)
  • 80% of foreign emergency care (up to a certain limit)

Overall, Plan B is an economical choice for those who are reasonably healthy and do not require frequent trips to the doctor or hospital. Those with more pressing medical needs should consider some of the more comprehensive Medicare Supplement Plans.

Availability

Plan B is not one of the three plans insurers offering Medicare Supplement Insurance are required to sell, which means that it may not be as widely available in your area as something like Plan F. Residents of Massachusetts, Minnesota, or Wisconsin, should note that these states’ Medigap Plans are not standardized with the typical letter system (A, B, C, D, F, G, K, L, M, and N). Thus, there may not be a “Plan B” available in your area.

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