Private insurance companies offer Medicare Supplement Plans to fill the gaps left by Original Medicare (Parts A and B), including the Part A deductible and the Part B 20% coinsurance. With that being said, the government ensures that all Medicare Supplement Plans with the same letter name provide the same benefit coverage throughout the country. So, you’ll always know what you’re getting benefits-wise.
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While the government regulates the coverage these plans provide, it does allow insurance companies to set their own premiums. So, it’s important to shop around for the best deal. EZ can help you compare both plans and insurance companies. But before you start the process, take a look at our guide to Medicare Supplement Plans in Iowa.
Iowa Medicare Supplement Plans
If you need help paying for any gaps in coverage that Original Medicare leaves you with, you should look into a Medicare Supplement Plan.
If need an Iowa Medicare Supplement Plan, you should know that there are 10 different plans available. Each of which are named with a different letter of the alphabet (A, B, C, D, F, G, K, L, M, and N). Not all insurance companies will offer every plan. But they are all required to offer at least Plan A. In addition, Plans C and F are only available for purchase to those who became Medicare-eligible prior to January 1, 2020.
Insurance premiums for these types of policies in Iowa range from $42 to $413 per month, depending on which plan you choose. For this affordable monthly premium, you will get some, if not most, of your out-of-pocket medical expenses covered.
With all of these options, it can be difficult to choose. But we can help you get started by explaining the basics of the various plans available in Iowa, what they cover, and what you can expect to pay.
Plan A
Plan A is the most basic Iowa Medicare Supplement Plan available, and you can purchase it from any Medicare-approved insurance company. Despite its simplicity, it will provide coverage for what many consider to be the most vital aspect of Medicare Supplement Plans: the 20% of outpatient services that Original Medicare won’t cover.
In Iowa, Plan A monthly premiums typically cost between $84.25 and $411.25.
Plan B
Medicare Supplement Plan B covers all the very important basics that Plan A does, including:
- Medicare Part A coinsurance and hospital costs – Part A only fully covers your first 60 days of inpatient hospital stays in a benefit period, after that you are required to pay a portion of your bills for each day after your initial 60 days. Days 61-90 have a coinsurance of $400 a day. If your stay is between 91 and 150 days, and you use your Lifetime Reserve days, your coinsurance will be $800 a day. Plan B covers 100% of these costs.
- Medicare Part B coinsurance or copay – You’ll typically have to pay Medicare Part B coinsurance for doctor visits and other outpatient care. That means Medicare Part B pays 80% of the Medicare-approved amount for covered services. Leaving you to pay the remaining 20%. Plan B covers 100% of this.
- First 3 pints of blood – Original Medicare only pays for the fourth and subsequent pints of blood if you need blood during treatment. Plan B will pay for the first three pints.
- Part A hospice care and coinsurance – Hospice care is for patients who are nearing the end of their lives. These services are covered by Medicare, but copayments are required. These copayments include $5 for each symptom and pain relief medication prescription, as well as 5% of the Medicare-approved amount for inpatient assisted living. Plan B covers all expenses related to hospice care.
Plan B, though, provides more coverage than does Plan A. While the Medicare Part A hospital deductible is not covered by Plan A, it is covered by Plan B. The deductible for Medicare Part A in 2023 is not cheap, coming in at $1,600 per 60-day benefit period. Having a plan that covers this deductible could be very helpful not only because of the high price of this deductible, but also because you might have to pay it more than once in a single year.
Monthly premiums for Plan B in the state of Iowa can cost anywhere from $101 to $335.
Plan C
This Iowa Medicare Supplement Plan is among the most comprehensive options on the market. Although it is not available to all beneficiaries. Plan C takes care of everything, with the exception of Medicare Part B excess charges. This means that your Parts A and B deductibles, in addition to the 20% coinsurance that you would normally be responsible for paying for all outpatient care, will be covered by Plan C.
Coverage includes the following:
- Part A hospital deductible and coinsurance
- Hospital costs up to an additional 365 days after Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Blood (the first 3 pints)
- Other Medicare-approved expenses associated with Part A hospitalization
- Medicare Part B coinsurance and copayments
- Part B deductible
- Other Medicare-approved expenses associated with Part B coverage
Unfortunately, individuals who became eligible for Medicare after January 1, 2020 cannot enroll in Plan C. If you had Plan C prior to that date, you can keep it. And if you were eligible for Medicare prior to January 1, 2020 but did not enroll, you may still be able to buy it.
In Iowa, monthly premiums for Plan C will cost anywhere from $116 to $411.
Plan D
Plan D covers the majority of out-of-pocket medical expenses including:
- Part A hospital coinsurance and hospital costs up to an extra 365 days after Original Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Part B coinsurance
- First 3 pints of blood
- Skilled nursing facility (SNF) care coinsurance – After the 20th day of your stay as an inpatient in a skilled nursing facility, Medicare Part A requires you to pay coinsurance. Part A coinsurance for skilled nursing facility care is $200 per day in 2023.
- Part A deductible
- 80% of foreign travel emergency costs (up to plan limits)
As with all plans available to new Medicare beneficiaries, Plan D does not cover the Medicare Part B deductible. In addition, it doesn’t cover Part B excess charges. Meaning If your doctor refuses to accept Medicare assignment, and charges more than the Medicare-approved amount for a service, you will be responsible for paying the difference (excess charges).
In the state of Iowa, monthly premiums for Plan D can cost anywhere from $91 to $286.
Plan F
Medicare Supplement Plan F has long been the best-selling plan on the market, but like Plan C, it is no longer on offer for all Medicare recipients. This plan covers all of your out-of-pocket expenses, meaning you’ll only pay your monthly Plan F premium if you have this plan. The covered expenses include:
- Part A hospital deductible and coinsurance
- Hospital costs up to an additional 365 days after Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Blood (the first 3 pints)
- Other Medicare-approved expenses associated with Part A hospitalization
- Medicare Part B 20% coinsurance and copayments
- Medicare-approved doctor’s office fees
- Part B deductible
- Medicare Part B excess charges
- Other Medicare-approved expenses associated with Part B coverage
The only catch is that Plan F is not available to anyone who became/becomes eligible for Medicare after 2020. If you became eligible for Medicare before 2020, you can purchase one of these plans, or if you have already purchased Plan F and are grandfathered in, you can keep it as long as you want.
Premiums for Plan F cost between $106 and $413 a month in Iowa.
Plan G
If you like the sound of Plan F, but are not eligible to purchase one of these plans, look into Plan G. This plan covers almost everything that Plan F does, including:
- Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
- Part A deductible
- Part A hospice care coinsurance or copayment
- Part B coinsurance or copayment
- Part B excess charges (if a provider is permitted to charge more than Medicare’s approved amount and does so)
- Blood transfusion (first 3 pints)
The only thing Plan G doesn’t cover is the Medicare Part B deductible. And the good news is that Plan G premiums are frequently very competitive, with premiums ranging from $91 and $386 per month in Iowa, making this plan a better value than Plan F.
Plan K
Medicare Supplement Plan K reduces your Original Medicare out-of-pocket expenses, but it does not completely fill the gaps. Plan K only pays 50% of some expenses until you reach what’s known as your out-of-pocket maximum. These expenses include:
- Medicare Part B coinsurance – Plan K covers half of these costs, so you will be responsible for 50% of the remaining 20%. For example, if your doctor charges $100 for a service, Medicare will cover $80, Plan K will cover $10, and you will cover the remaining $10.
- First 3 pints of blood
- Part A hospice care coinsurance or copayment – Plan K will pay for half of these costs.
- Skilled nursing facility care coinsurance – Plan K pays half of the coinsurance for medical care in skilled nursing care facilities.
- Medicare Part A deductible – Medicare Supplement Plan K will pay half of these deductibles, or $800. Plan K requires you to pay the Medicare Part B deductible, which is $226 in 2023.
So, with Plan K, you’ll have to pay more out-of-pocket at the time of service. But Plan K has something that other plans don’t: a limit on how much you will have to pay out-of-pocket each year. This out-of-pocket maximum means that the most you will have to pay for Plan K in a year is $6,620 (as of 2023). Once you reach this limit, Medicare Supplement Plan K will pay for the rest of the year’s approved costs. Your limit will start over at the beginning of each year.
In addition, even though Plan K only pays 50% of most costs, it pays 100% of the Medicare Part A cost-sharing measure known as coinsurance, so you won’t have to pay anything out-of-pocket if you stay in a hospital for more than 60 days. This is the only basic benefit that is fully covered by Medicare Supplement Plan K.
Because Plan K’s out-of-pocket costs are higher, its monthly premiums are lower, costing between $42 and $130 a month in Iowa.
Plan L
Like Plan K, Medicare Supplement Plan L also pays for most of the costs of Original Medicare. But not all of them, but it covers them at a higher percentage than does Plan K. It also has a lower out-of-pocket maximum than Plan K does ($3,310 in 2023), meaning you’ll have to pay less in covered costs for the year.
Medicare Supplement Plan L pays for all of the coinsurance and hospital costs associated with Medicare Part A. It also pays for a portion of:
- Medicare Part B coinsurance – Plan L covers 75% of your Part B coinsurance.
- Blood – If you require blood while in the hospital, Plan L will cover 75% of the cost of the first three pints.
- Part A hospice care copayments – Plan L pays 75% of your Part A copays for hospice care.
- Skilled nursing facility care coinsurance – Plan L pays 75% of the $200 per day (after the 20th day of your stay) coinsurance for medical care in skilled nursing care facilities.
- Part A deductible – Medicare Supplement Plan L will cover 75% of your Part A deductibles for each 60-day benefit period . You must still meet your Medicare Part B deductible, which is $226 per year in 2023, if you choose Plan L.
Plan L premiums cost between $55 and $268 a month in Iowa.
Plan M
Medicare Supplement Plan M, much like Plans K and L, covers the majority of the costs associated with Original Medicare, but does not cover all of them. This plan will pay for all of your Medicare Part A coinsurance as well as your hospital costs. In addition to this, it will cover:
- Medicare Part B coinsurance – Plan M pays your Part B coinsurance and/or copayments in full.
- Blood – If you require blood while in the hospital, Medicare Supplement Plan M will cover the first three pints of blood in full.
- Part A hospice care coinsurance or copayment – Plan M will cover all of your hospice care coinsurance and copays in full.
- Skilled nursing facility care coinsurance – Plan M covers the entire cost of Part A skilled nursing facility coinsurance.
- Part A deductible – Medicare Supplement Plan M will cover half of your Medicare Part A deductible. If you have Plan M, you will have to pay half of the $1,600 (or $800) deductible.
Plan M premium prices range from $83 to $301 in Iowa.
Plan N
Medicare Supplement Plan N fills the majority of coverage gaps left by Original Medicare. But it does have copayments for some services, which other plans do not. The only other exceptions to Plan N’s coverage are the Medicare Part B deductible ($226 in 2023) and any Medicare Part B excess charges. Excess charges are parts of doctor bills that exceed the Medicare-approved amount. This means that Medicare Supplement Plan N covers all of the following:
- Medicare Part B coinsurance – Plan N will cover your Part B coinsurance costs in full, with the exception of a copayment of up to $20 for some office visits. For emergency room visits that do not result in an inpatient admission, a second copayment of up to $50 may be required.
- Blood – If you require blood while in the hospital, Medicare Supplement Plan N will cover the first three pints.
- Part A hospice care coinsurance or copayment – Plan N pays your hospice care coinsurance and copayments in full.
- Skilled nursing facility care coinsurance – Your skilled nursing facility coinsurance will be fully covered by Medicare Supplement Plan N.
- Part A deductible – Medicare Supplement Plan N pays your $1,600 deductible in full for each 60-day benefit period.
- Foreign travel emergency care – Original Medicare typically does not cover medical care received outside of the United States. If you need emergency care while traveling outside of the United States, Medicare Supplement Plan N will cover 80% of the costs of qualified emergency medical care.
The price of Plan N can range from $68 to $290 a month in Iowa.
When To Enroll
Medicare Supplement Plans, unlike Medicare Part C and Part D, do not have an annual Open Enrollment Period. Instead, federal regulations have established a six-month window during which Medicare Supplement Plan coverage is guaranteed-issue. Meaning that insurance companies cannot deny you or charge you more for coverage because of your health.
This six-month period begins when you reach the age of 65 and are enrolled in Medicare Part B. If you choose to purchase a plan outside of your Medicare Supplement Plan Open Enrollment Period, you might be subject to medical underwriting. During the underwriting process you could be denied or have to pay more in premiums. So, it’s important to take advantage of this time.
In addition, you will be eligible for Medicare in Iowa if you are disabled and have been receiving disability benefits for at least two years. Federal rules do not guarantee access to Iowa Medicare Supplement Plans if you are under 65. However, the majority of states have rules in place to ensure that disabled Medicare beneficiaries have access to Medicare Supplement Plans. Iowa is not one of them, though. In Iowa, Medicare Supplement insurers have the option of providing coverage to disabled enrollees who are under 65. But most of them do not. The few companies that do offer Medicare Supplement Plans to those under 65 charge a much higher premium than they would to someone 65 and older.
How To Choose
When it comes to Medicare coverage, don’t be afraid to ask questions. Speak to an EZ agent who can explain everything to you and guide you through every step of the process. EZ can assist you in enrolling in Medicare, comparing Medicare Supplement Plans, or simply weighing your options. Our agents work with the best insurance companies in the country. They can provide you with a free comparison of all available plans in your area. We will go over your medical and financial needs with you and help you find a plan that works for you. To get started, simply enter your zip code in the bar below or give one of our licensed agents a call at 877-670-3602.
