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Medicare Supplement Insurance Costs
What will you pay for Medicare supplement insurance?
Companies that offer Medicare supplement insurance plans set their own premiums. You’ll need to look at the details of each plan you’re considering. (Cost sharing and coverage are standardized for the different Medicare supplement insurance plans.)
Remember that Medicare supplement insurance is meant to be used in combination with Original Medicare Parts A and B. It helps pay for some costs that Original Medicare does not cover. You cannot be sold a supplement insurance plan if you have a Medicare Advantage plan, unless you are dropping the Medicare Advantage plan.
Keep reading for more information
2013 Medicare supplement costs
Premium
- In general, the better the coverage, the higher the premium. Premiums can vary widely from company to company, even for exactly the same coverage. They can also go up after you buy a plan.
Deductible
- Some companies offer high-deductible versions of certain plans.
Copayment
- Certain plans require you to pay Part B copayments for office and emergency room visits.
Coinsurance
How does this work?
Here’s a look at an example of costs with Original Medicare and no Medicare supplement insurance plan.
Cost sharing with Original Medicare
| Part A deductible |
$1,184 |
| Part A coinsurance for 2 days in skilled nursing facility ($148/day) |
$296 |
| Part B coinsurance for 2 doctor's visits (20% of Medicare-approved amount) |
$32 |
| Part B excess charge for same 2 doctor's visits (15% of Medicare-approved amount) |
$24 |
| Total cost sharing without any Medicare supplement insurance plan |
$1,536 |
Now look at these stories showing how Medicare supplement insurance plans might help with the same costs not paid by Original Medicare (Parts A and B). Remember, these amounts are shown for illustration only. Actual costs may be different.
Allan’s story: Two doctor visits with
Medicare supplement plan A
| Total cost sharing |
$1,536 |
| Medicare supplement plan A pays: |
|
| Part B coinsurance for 2 doctor’s visits (20% of Medicare-approved costs) after the Part B deductible is met |
-$32 |
| Total Allan pays |
$1,504 |
Carlos’ story: Skilled nursing care and doctor visits
with Medicare supplement plan F
| Total cost sharing |
$1,536 |
| Medicare supplement plan F pays: |
|
| Part A deductible |
-$1,184 |
| Part A coinsurance for 2 days in skilled nursing facility ($148 per day for the first 100 days) |
-$296 |
| Part B coinsurance for 2 doctor’s visits (20% of Medicare-approved amount) after the Part B deductible is met |
-$32 |
| Total Carlos pays |
$24 |
Joseph’s story: Skilled nursing care and doctor visits with Medicare supplement plan F; doctor doesn't accept assignment
| Total cost sharing |
$1,536 |
| Medicare supplement plan F pays: |
|
| Part A deductible |
-$1,184 |
| Part A coinsurance for 2 days in skilled nursing facility ($148 per day for the first 100 days) |
-$296 |
| Part B coinsurance for 2 doctor’s visits (20% of Medicare-approved amount) after the Part B deductible is met |
-$32 |
| Part B excess charges for same 2 doctors’ visits (15% of the Medicare-approved amount) |
-$24 |
| Total Joseph pays |
$0 |
Important: Not all Medicare supplement insurance plans are available in all states. For information about plans available in your area, call your State Health Insurance Assistance Program (SHIP).
