What is a High-Deductible Medigap Policy?
A high-deductible Medigap policy is a type of Medigap policy that has a high deductible but a lower premium. You must pay the deductible before the Medigap policy pays anything. The deductible amount can change each year.
There are two high-deductible Medigap policies:
- High-Deductible Medicare Supplement Plan F
- High-Deductible Medicare Supplement Plan G
Each plan covers all Medicare Part A and Part B deductibles, copayments, and coinsurance costs once the annual deductible is met.
Medicare Supplement Plan K is similar to the high-deductible policies. However, with Plan K the beneficiary and the insurance carrier share costs until the annual deductible is met. At that point, the carrier pays all costs.