Private insurance companies offer Alaska Medicare Supplement Plans to fill the coverage gaps left by Medicare Parts A and B. These plans frequently cover both your Part A deductible and your Part B 20% coinsurance. But while these plans are sold by private insurance companies, the government has standardized these plans. The Centers for Medicare & Medicaid Services (CMS) regulates Medicare Supplement Plans. The CMS requires all plans with the same letter name to offer identical benefit coverage across the country. That means once you understand the different Medicare Supplement Plans available, you’ll know what to expect with each one.
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However, premiums can vary depending on the insurance company you choose. So, it’s important to compare different Medicare Supplement Plans as well as different insurers to determine the most suitable plan for you. EZ can assist you in comparing both. But to get you started, first read our guide to how Alaska Medicare Supplement Plans work.
Alaska Medicare Supplement Plans
If you are struggling with out-of-pocket expenses because of gaps in your Original Medicare, an Alaska Medicare Supplement Plan is the way to go. You’ll most likely have found that the most significant gap comes from the 20% coinsurance that you pay for each Medicare Part B service. And you’ll be happy to know that most Medicare Supplement Plans cover this coinsurance.
There are 10 Medicare Supplement Plans that insurers can offer. Each is named with a different letter of the alphabet (A, B, C, D, F, G, K, L, M and N). It’s important to note two things: first, not every insurance company will offer all 10 plans. However, federal law requires every insurance provider to offer Plan A. Second, of these 10 plans, two (Plans C and F) are no longer available for those who became eligible for Medicare after January 1, 2020.
As for the cost, premiums for Alaska Medicare Supplement Plans range from $43 to $417 a month. The amount you pay, though, will depend on which plan you choose and your location.
With all of these options, how do you choose? The first step is to compare what each plan covers. To help you do that, we’ve broken down each plan so you can choose the best fit for you.
Plan A
Medicare Supplement Plan A is the most basic choice when it comes to Medicare Supplement Plans. But even though it’s a basic plan, it covers what is possibly the most significant component of Alaska Medicare Supplement Plans. Which is the 20% of outpatient treatments that Medicare Part B won’t cover. All Medicare insurance carriers are required to offer Plan A. However, Alaska does not require insurers to offer this plan to Medicare disability recipients under the age of 65.
If you choose this plan, your premiums can start as low as $80, and will generally not be higher than $264 a month.
Plan B
Medicare Supplement Plan B covers everything that Plan A does, including:
- Medicare Part A coinsurance and hospital costs – Part A only covers the first 60 days of inpatient hospital stays in a benefit period; after that, you must pay a portion of your bills for each day after the first 60. The coinsurance for days 61-90 is $400 per day. And $800 per day if your stay is between 91 and 150 days after you use your Lifetime Reserve days. Plan B covers all of these expenses.
- Medicare Part B coinsurance or copay – For doctors’ appointments and other outpatient care, you will typically be required to pay Medicare Part B coinsurance. Medicare Part B pays 80% of the Medicare-approved amount for covered services, with the remaining 20% paid by you. Plan B takes care of all of this for you.
- First 3 pints of blood – If you need blood during treatment, Original Medicare only covers the fourth and subsequent pints. The first three pints are covered by Plan B.
- Part A hospice care and coinsurance – Hospice care offers assistance to patients nearing the end of their lives. Original Medicare covers these services, but you will still be responsible for any coinsurance or copays. These copayments include $5 for each prescription for symptom and pain relief medication, as well as 5% of the Medicare-approved amount for inpatient assisted living. Plan B covers all hospice-related expenses.
The one thing that Plan B covers that Plan A does not is the Medicare Part A deductible. As of 2023, Medicare Part A’s deductible is $1,600 per benefit period. This is not an annual deductible. Instead, it’s based on 60-day benefit periods. This means that you may end up having to meet your Part A deductible more than once in a single year. This is where Plan B can be more beneficial than Plan A if you think you might need hospitalization. If you choose this plan, you won’t have to meet the deductible multiple times a year.
Your Plan B premiums can start as low as $126 a month in Alaska, but can be up to $368 depending on the insurer.
Plan C
Plan C is one of the two most comprehensive Medicare Supplement Plans on the market. This is because Plan C covers every gap in Original Medicare except for Medicare Part B excess charges. This means Plan C covers both the Parts A and B deductibles, as well as the 20% coinsurance for Part B outpatient care that is typically your responsibility.
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, if you became eligible for Medicare after January 1, 2020, you are no longer able to purchase Plan C. However, if you had Plan C before then, you can keep it. And if you were eligible for Medicare before Jan. 1, 2020 but haven’t yet enrolled, you may still be able to buy it.
If you are eligible to purchase Plan C, you should know that premiums for this plan might be higher than premiums for a comparable plan. Plan C’s premiums can be anywhere from $129 to $416 a month in Alaska.
Plan D
While not as comprehensive as Plan C, Plan D covers the majority of out-of-pocket 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 inpatient stay 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. Plan D will cover the full amount.
- Part A deductible
- 80% of foreign travel emergency costs (up to plan limits)
Like all plans currently available to new beneficiaries, Plan D does not cover the Medicare Part B deductible. It also does not cover Part B excess charges. You will be charged excess charges if your doctor refuses to accept Medicare assignment. Meaning they will be able to charge you above the amount Medicare will pay for the service. In fact, any doctor who refuses to accept Medicare assignment may charge up to 15% more for a healthcare service than the Medicare-approved amount; a Medicare Part B “excess charge” is the difference between what your doctor bills and the Medicare-approved amount.
You can expect to pay between $110 and $283 a month for Plan D in Alaska.
Plan F
Medicare Supplement Plan F is easily the best-selling plan on the market. It covers all of your out-of-pocket expenses, so you’re only responsible for your plan’s monthly premium. 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
But just like Plan C, Plan F is not available to you if you became/become eligible for Medicare after 2020. Although, if you became eligible for Medicare before 2020, you might be able to buy one of these plans, or if you already have Plan F and are grandfathered in, you can keep it as long as you want.
Like Plan C, Plan F will most likely be a bit pricier than other plans: premiums can range from $130 to $417 a month in Alaska.
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 Medicare Part B deductible is the only thing Plan G does not cover. The good news is that Plan G premiums are commonly very competitive, with premiums in Alaska ranging from $110 to $387, making these plans a better deal than Plan F.
Plan K
Medicare Supplement Plan K reduces your out-of-pocket expenses associated with Original Medicare, but it does not completely fill the gaps. Plan K only covers half of certain expenses, including:
- Medicare Part B coinsurance – Plan K covers half of these costs, so you will be responsible for 50% of your 20% coinsurance. For example, if your doctor charges $100 for a service, Medicare will cover $80, Plan K will cover $10, and you will pay the remaining $10.
- First 3 pints of blood
- Part A hospice care coinsurance or copayment – Plan K will cover 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 cover half of each Part A deductible in a benefit period, or $800. Plan K requires you to pay the Medicare Part B deductible, which is $226 in 2023.
But while Plan K requires you to pay more out-of-pocket at the time of service, it does have something that other plans do not: an out-of-pocket maximum. This means the maximum amount you will have to pay out-of pocket for Plan K in a year is $6,620 (as of 2023). When you meet this limit, Medicare Supplement Plan K will pay for the remainder of the year’s approved costs. At the start of each calendar year, your maximum will be reset.
Furthermore, while Plan K only covers 50% of most expenses, it does cover the entire Medicare Part A coinsurance. This is the only basic benefit fully covered by Medicare Supplement Plan K.
Plan K’s premiums are lower because of its higher out-of-pocket costs, costing between $34 and $132 a month in Alaska.
Plan L
Medicare Supplement Plan L also covers a great deal of Original Medicare costs, but not all of them. Like Plan K, it also has an out-of-pocket maximum ($3,310 in 2023). Which means that once you have paid the maximum amount in covered expenses for that year, your insurer will pay the rest of your medical expenses in full.
Medicare Supplement Plan L covers all of Medicare Part A coinsurance and hospital costs. It also covers a percentage 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 will still have to meet your Medicare Part B deductible, which is $226 per year in 2023, if you choose Plan L.
Plan L premiums cost between $78 and $209 a month in Alaska.
Plan M
Like Plan K and Plan L, Plan M covers the majority of the expenses associated with Original Medicare, though not all of them. Medicare Supplement Plan M covers all of Medicare Part A coinsurance and hospital costs. It also covers:
- 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 rather than the full $1,600.
There are currently no Plan M policies available for sale in Alaska.
Plan N
Plan N fills a lot of the benefit gaps left by Original Medicare. The Medicare Part B deductible ($226 in 2023) and any Medicare Part B excess charges, or portions of doctor bills that exceed the Medicare-approved amount, are the only exceptions. This means that Medicare Supplement Plan N covers everything else, including:
- 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.
Prices for Plan N can range from $83 to $375 a month in Alaska.
When To Enroll
While there are technically multiple times when you can choose to enroll in an Alaska Medicare Supplement Plan, there is one time that will be most beneficial to you. This is your Medicare Supplement Open Enrollment Period, or the 6-month window that opens up to you when you turn 65 and enroll in Original Medicare.
The reason that you should purchase your Alaska Medicare Supplement Plan during this time is that you will be given “guaranteed issue rights”. This means that insurers cannot use medical underwriting to determine eligibility or premiums. In other words, insurance companies will not be able to deny you coverage or charge you more because of health conditions. So, it’s important to take advantage of your Medicare Supplement Open Enrollment Period.
It’s important to note that federal regulations do not guarantee access to a Medicare Supplement Plan if you are under 65 and eligible for Medicare due to a disability. The majority of states have adopted rules to ensure that enrollees under the age of 65 have at least some access to Medicare Supplement Plans. But Alaska is not one of them. Medicare beneficiaries under 65 can apply for a Medicare Supplement Plan, but coverage is not guaranteed. So,insurers can use medical underwriting to determine whether to issue a policy and at what price.
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 tell you what you need to do to sign up. EZ can assist you in enrolling in Medicare, purchasing an Alaska Medicare Supplement Plan, or simply weighing your options. Our agents work with the best insurance companies in the country and 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.
