Medicare Supplement Plan D, Medigap Plan D, Medicare Plan D
Medigap Plan D Offers Great Benefits
Medicare Supplement Plan D is one of the ten Medigap options you can purchase to supplement your Original Medicare benefits. (It is not to be confused with PART D, which is for prescription drugs. You can read about Part D drug policies here.)
A Medigap Plan D policy covers most of the gaps in Medicare for you, with the exception of the Part B deductible and also any excess charges. An excess charge is an additional amount you will pay if a provider charges more than the Medicare allowed amount. You will pay out of pocket for these two minor items if you purchase a Medicare Plan D. However, the policy DOES cover all of the most important things, like the 20% of outpatient services that you would otherwise owe.
It’s important to compare pricing between Medigap Plan D and Plans F or G, which have richer benefits. This will help you determine if the savings is worth the additional financial exposure to you. Some people would rather pay more for their supplement if they know that all the gaps will be covered. Others don’t mind a little cost-sharing to get lower premiums. It’s completely up to you.
The Difference Between Part D and Plan D
People frequently confuse Part D and Plan D. It’s no wonder. With all these letters floating around, it’s hard to get the terms down. Medicare Part D is the prescription drug program available to all beneficiaries. It is essentially a pharmacy card. Medigap (or Medicare Supplement) D, on the other hand, is just one of the ten supplements that are available to you.
If you find this confusing, call us and we’ll help break it down for you. Our agency offers what we call Medicare 101, in which we explain in plain English about your basic benefits work, and how any supplemental insurance benefits you. Understanding the coverage you already have is essential before buying supplemental policies.