What is a High-Deductible MedigapMedicare Supplements are additional insurance policies that Medicare beneficiaries can purchase to cover the gaps in their Original Medicare (Medicare Part A and Medicare Part B) health insurance coverage.... Policy
A high-deductible Medigap policy is a type of Medigap policy that has a high deductible but a lower premiumA premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums. .... 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 FMedicare Supplement Plan F is the most comprehensive Medicare supplement plan available. This plan covers all Original Medicare deductibles, coinsurance, and copayments, leaving you with no out-of-pocket costs on all Medicare-approved services....
- High-Deductible Medicare Supplement Plan GIf you're turning age 65 this year, Medicare Supplement Plan G is the most comprehensive Medicare supplement you can buy. It's also the most popular. You might be thinking that Medicare Supplement Plan F is...
Each of these plans covers all Medicare Part A and Part B deductiblesA deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share...., copaymentsA copayment, also known as a copay, is a set dollar amount you are required to pay for a medical service...., and coinsuranceCoinsurance is a percentage of the total you are required to pay for a medical service. ... costs once the annual deductible is met.
Medicare Supplement Plan KMedicare Supplement Plan K is one of two unique Medicare supplements with shared-cost coverage and an annual out-of-pocket limit. This is a plan that works for people looking for help with certain Original Medicare costs... is similar to the high-deductible policies. However, with Plan K the beneficiaryA person who has health care insurance through the Medicare or Medicaid programs.... and the insurance carrier share costs until the annual deductible is met. At that point, the carrier pays all costs.