Medicare Plan M expenses, advantages, and relevant details explained
**Headline: Medigap Plan M Offers Balanced Coverage for Healthy Seniors in 2025**
For individuals turning 66 in 2025, Medigap Plan M presents a moderate-cost Medicare supplement option with specific benefits and trade-offs. This plan, which varies in cost depending on location, insurer, and age, offers coverage for 50% of the Medicare Part A deductible, Medicare Part A hospital coinsurance and stays, Medicare Part B coinsurance/copays, skilled nursing facility coinsurance, and foreign travel emergency care, among other benefits.
**Benefits of Medigap Plan M:**
- Covers 50% of the Medicare Part A deductible ($1,676 in 2025). - Covers Medicare Part A hospital coinsurance and stays. - Covers Medicare Part B coinsurance/copays. - Covers skilled nursing facility coinsurance. - Covers foreign travel emergency care (similar to other plans). - Generally lower premiums compared to plans with fuller coverage like Plan G or Plan F.
**Costs and Drawbacks:**
- Does not cover the remaining 50% of the Part A deductible (you pay half). - Does not cover the Medicare Part B deductible (you pay the full $257). - Premiums vary by location, insurer, and age but tend to be lower than higher-coverage plans.
**Cost details and location variation:**
- The average monthly premium for Plan M is about **$143** for a 65-year-old non-smoking female; a 66-year-old male non-smoker would likely be in a similar range with possible minor variation. - Premiums vary significantly by state and city, often increasing with age. For example, in expensive areas like New York City, premiums for Medigap plans (like Plan G) can be over $300/month, whereas in Chicago comparable plans might be under $150/month; Plan M premiums would follow similar geographic trends. - Since Plan M involves some cost-sharing (50% of the Part A deductible), it generally has lower premiums compared to Plan G or Plan F but higher potential out-of-pocket costs when hospitalized.
**Comparison with other plans:**
| Plan | Monthly Premium (average) | Covers 100% Part A Deductible? | Covers Part B Deductible? | Notes | |-------|---------------------------|--------------------------------|--------------------------|----------------------------------| | M | ~$143 | 50% | No | Lower premiums, some cost-sharing| | G | ~$159 | Yes | No | Higher premiums, fewer out-of-pocket costs | | F | ~$199 | Yes | Yes | Highest premiums; no longer sold to new enrollees post-2020|
**Summary:**
Medigap Plan M could be an ideal choice for a healthy 66-year-old non-smoker in 2025 who is looking to balance premium cost with coverage, especially if willing to pay half of the Part A deductible out-of-pocket. Location will significantly affect premiums, with urban areas generally more expensive. The plan’s limited coverage of the Part A deductible means some hospitalization costs may still be out-of-pocket, unlike with Plan G.
It is essential to remember that all Medigap premiums tend to rise over time due to factors like medical inflation and increased deductibles. It’s important to compare prices in your specific area and consider your expected healthcare needs when choosing Plan M.
It is also important to note that Medigap Plan M does not offer vision, dental, hearing, or prescription drug coverage. The costs for a person with Plan M in 2025 include 50% of the Part A deductible (if hospitalized), Part B annual deductible, Part B excess charges, Part B monthly premium, and Part M monthly premium, with costs varying depending on the company providing the plan, the person's age, the plan they choose, and their location.
For impartial healthcare advice, including information about Medigap and Medicare, people can turn to their State Health Insurance Assistance Program. Additionally, a government program called Medicaid may offer help with costs for people with limited resources and incomes, qualifying criteria varying by state.
[1] https://www.medicareadvocacy.org/2022-medigap-premium-rates/ [2] https://www.medicare.gov/supplements-other-insurance/what-medigap-policy-costs/medigap-policy-costs.html [3] https://www.healthinsurance.org/medicare/medigap-rates-by-state/ [4] https://www.medicareadvocacy.org/2022-medigap-premium-rates/
- Health-and-wellness and personal-finance are crucial aspects to consider when choosing a Medicare supplement plan like Medigap Plan M.
- Healthorganizations like the State Health Insurance Assistance Program provide impartial healthcare advice, including information about Medigap and Medicare.
- In addition to the healthinsurance offered by Medicare and Medigap Plan M, individuals may also need to account for personal expenses such as 50% of the Medicare Part A deductible and the Part B annual deductible, among other out-of-pocket costs.
- Science and finance data show that Medigap Plan M premiums vary significantly by location, making it essential to compare prices in your specific area when making a decision.
