Medicare Supplement Plan D
Medicare Supplement Plan D helps protect you from high out-of-pocket Medicare costs.
There are 10 Medicare supplement plans (Medigap) lettered A-N. Each plan covers a different set of gaps within your Original Medicare benefits. Medigap Plan D covers all but two of these gaps. As a result, you pay less money out-of-pocket for medical expenses. Below we take a closer look.
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Why Most People Need Supplemental Insurance
Medicare provides excellent health insurance coverage; however, it is not fully comprehensive. Looming within your Medicare benefits are copayments, coinsurance, and multiple deductibles that leave you exposed to high out-of-pocket medical costs.
Medicare Supplemental Insurance is a secondary layer of coverage that works alongside your Original Medicare benefits to reduce or eliminate out-of-pocket costs. Medigap policies protect both your health and your bank account.
Difference Between Medigap Plan D & Medicare Part D
Medigap Plan D often gets confused for Medicare Part D. Lets quickly review the basics of Medicare for clarity.
There are four parts of Medicare.
- Medicare Part A – Hospital insurance (inpatient services)
- Medicare Part B – Doctors Insurance (outpatient services)
- Medicare Part C – Medicare Advantage Plans
- Medicare Part D – Prescription Drug Coverage
Medicare Supplement plans ‘supplement’ the gaps in Part A & B of Original Medicare. There ten Medigap options that allow you to choose which gaps you’d like to cover.
Medicare Advantage provides an alternative way to cover Medicare’s financial gap. However, these plans also expand your benefits to include vision, dental, and prescription drugs.
Anyone eligible for Medicare benefits can enroll in Medicare supplemental insurance.
What Does Medicare Supplement Plan D Cover?
Medigap Plan D covers seven out of the nine financial gaps in Medicare. Here’s what it covers:
Everything Covered In Medigap Plan D:
- Part A coinsurance
- Part B Coinsurance
- Blood – first 3 pints
- Part A Hospice Care Coinsurance
- Skilled Nursing Coinsurance
- Part A Deductible
- Foreign Travel Exchange 80%
Medigap Plan D covers the two biggest gaps in Medicare.
Part B coinsurance – Without a supplement policy, you’ll pay 20% of all your outpatient medical care. This is the biggest gap in Medicare because there is no out-of-pocket maximum in which you might pay.
Part A deductible – The yearly deductible for Medicare Part A in 2020 is $1,408, an increase of $44 from $1,364 in 2019. If you require hospital stays further than 60 days apart, you will pay this deductible more than once. Plan D covers this deductible no matter how many times you need inpatient care.
What Medigap Plan D Doesn’t Cover
There are two gaps that Medicare Supplement Plan D doesn’t cover.
Part B deducible – the standard yearly deductible for part B benefits in 2019 is $185. If you enroll in supplement plan d, this low deductible will be your only out-of-pocket cost for Part B benefits.
Part B excess charges – most states allow doctors to bill patients up to 15% more than what is covered by Medicare. These are called excess charges, and Medigap Plan D does not include coverage for these charges.
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How Does Medicare Supplement Plan D Compare?
See how supplemental plan D compares to the other Medigap options.
When to Enroll
There are two Medicare Enrollment Periods to purchase Medigap insurance.
Medicare Initial Enrollment – a seven-month window which begins three months before your 65th birthday, includes your birthday month, and continues for the following three months.
Medicare Open Enrollment – takes place every year between October 15th and December 7th.
Finding Your Best Policy
The best supplement plan for you will depend on many factors. Your health status, state of residence, zip code, and monthly budget all affect which option will fit you best.
Medicare supplement plan D is a great choice for individuals looking to for robust benefits but do not want to pay higher premiums for the more comprehensive plans.
The best way to find your best option is to work with one of our independent agents. You’ll get a Medicare expert to help compare plans side by side. Our agents are unbiased because we work for YOU, not the insurance companies.
We help you compare Medicare supplemental insurance companies to find your perfect policy.
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