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Medicare Supplement Plan D

by David Bynon, June 6, 2021

What is Medicare Supplement Plan D?

Medicare SupplementMedicare 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. Plan D is one of the ten standardized Medigap plans, which is also known as Medicare Plan D or Medigap Plan D. It is often confused with Medicare Part DMedicare Part D plans are an option Medicare beneficiaries can use to get prescription drug coverage. Part D plans provide cost-sharing on covered medications in four different phases: deductible, initial coverage, coverage gap, and catastrophic. Each..., which is your prescription drug coverage. A good way to remember the difference is that only Medicare has parts. Private insurance options are described as plans.

To remove any confusion, we’ll call it Medicare Supplement Plan D or Medigap Plan D.

What Does Medicare Supplement Plan D Cover?

Medicare is not full-coverage healthcare. In fact, there are nine coverage gaps baked into the Original MedicareOriginal Medicare is private fee-for-service health insurance for people on Medicare. It has two parts. Part A is hospital coverage. Part B is medical coverage.. Generally speaking, Medicare pays about 80% of your major medical costs and you pay the other 20% out-of-pocket. To help with your 20% share, you can buy a Medigap plan.

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To fully understand what Medicare Supplement Plan D covers, let’s first look at the nine gaps in Medicare. They include:

  1. Medicare Part AMedicare Part A is hospital coverage for Medicare beneficiaries. It covers inpatient care in hospitals and skilled nursing facilities. It also covers limited home healthcare services and hospice care. CoinsuranceCoinsurance is a percentage of the total you are required to pay for a medical service.  & Hospital Costs
  2. Medicare Part A Skilled Nursing Facility Coinsurance
  3. Medicare Part A Deductible
  4. Medicare Part A HospiceHospice is a special way of caring for people who are terminally ill. Hospice care involves a team-oriented approach that addresses the medical, physical, social, emotional, and spiritual needs of the patient. Care Coinsurance or Copayment
  5. Medicare Part BMedicare Part B is medical coverage for people with Original Medicare benefits. It covers doctor visits, preventative care, tests, durable medical equipment, and supplies. Medicare Part B pays 80 percent of most medically necessary healthcare services. Deductible (annual)
  6. Medicare Part B Coinsurance or Copayment
  7. Medicare Part B Excess ChargesA Medicare Part B excess charge is the difference between a health care provider’s actual charge and Medicare’s approved amount for payment.
  8. Blood (first 3 pints)
  9. Foreign Travel Emergency

In Original Medicare, your coverage is divided into two different parts. Part A is your hospital coverage and Part B covers medical services. The 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., coinsurance, and other costs listed above are what you pay when you use your Medicare benefits.

Medigap Plan D offers excellent hospital coverage, but it leaves you to pay the annual Medicare Part B deductible and Part B excess charges. However, it does pay your Part B coinsurance when you see a doctor, have lab tests done, or use other outpatient medical services.  It also covers your first three pints of blood, and it offers foreign travel emergency coverage (with a 20% copayment).

Is Medicare Plan D a Good Plan?

As long as you understand that your annual Part B deductible ($198 per year at the 2020 rate) and excess charges are coming out of your pocket, Medigap Plan D is a great plan. However, if you’re open to the idea of paying a little bit more out of your own pocket, there is another plan with similar coverage that can save you a lot of money on your premiumsA 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. . It’s Plan N.

Just like Medigap Plan D, Plan N does not pay you Part B deductible or your excess charges. Where you save money with Plan N is by also paying a small copay (up to $20) when you see your doctor or use the emergency room (up to $50). Other than that, the two plans are identical.

Plan D works well for people with a chronic health condition, but see doctors that accept Medicare-assignment (no excess charges).  Plan N works well for people with no chronic health issues who manage their good health through annual preventative health visits, which are covered 100% by Medicare.

Need to speak with a professional? Are you ready to see the prices? Call 1-855-728-0510 (TTY 711) and speak with a licensed HealthCompare insurance agent. There’s no obligation, and they offer more plan options than any other national agency.

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