The Best Medicare Supplement Plans for You
Medicare Supplement Plan J is one of the most popular Medicare Supplements for Americans. This plan provides coverage for out-of-pocket expenses and pays 100% of the cost of hospitalization due to a hospital stay (only after you pay $2,100 in deductibles). The plan will also cover 80% of doctor’s office visits, medical procedures, and other covered services. However, there are many restrictions on this supplemental insurance; it does not cover anything related to pregnancy or mental health care.
The plan has a high deductible for inpatient hospitalization expenses. This means that you must pay $2400 before the supplemental insurance will cover anything. If you have other Medicare coverage, this won’t be an issue because those plans are typically primary and J is secondary; however, if you only have Plan J as your supplement to Medicare A or B, then it’s something to keep in mind when considering signing up with this provider. The premiums for Plan J can vary depending on where you live but they’re generally about $30 per month more than the average single premium (as of 2015).
This plan is primarily used by people who don’t qualify for Medigap Insurance and need additional protection against out-of-pocket costs and coverage for inpatient hospitalization expenses.
Here’s how Plan J compares to other Medicare Supplement Plans:
Plan Z offers a lower deductible option and the same out-of-pocket maximum, but with less full coverage of doctor visits (60%). It also costs about $30 per month more than average single premium rates as of 2015.
B is close to Plan J in terms of monthly premiums, but has significantly higher deductibles ($2400 before any insurance) which can make it difficult if you have no supplemental coverage from another plan or your employer group health benefits plan. B also provides better mental health care protection than either A or J; whereas plans A and J provide no help at all when it comes to paying medical bills.
Plan B is a great option for someone who has lower out-of-pocket maximums and wants more coverage in the event they need mental health care, but it’s not as good of an option if you want to avoid higher monthly premiums in order to cover less than $2400 worth of hospitalization expenses.