Medigap Plan M Benefits & Cost 2023

Medigap Plan M is a mid-range Medicare Supplement Insurance option that balances lower monthly premiums with partial cost-sharing. It covers 7 of the 9 standardized Medigap benefits, including half of the Medicare Part A deductible.

What Makes Plan M Different?

Plan M is unique because it splits the Medicare Part A deductible 50/50 with you. In 2025, that deductible is $1,632 per benefit period. Under Plan M, you are responsible for $816, and the plan pays the other half.

Plan M does not cover the Medicare Part B deductible ($257 in 2025) or Part B excess charges. For these reasons, Plan M is less popular than Plan G or Plan N, but it can still be a good fit for certain budgets.

What Does Plan M Cover?

Plan M helps reduce many of the out-of-pocket costs left over by Original Medicare:

• Medicare Part A coinsurance and hospital costs (up to 365 extra days after Medicare benefits end)
• Medicare Part B coinsurance or copayment
• First 3 pints of blood
• Part A hospice care coinsurance/copayment
• Skilled nursing facility coinsurance ($209.50 per day in 2025 for days 21–100, covered in full)
• 50% of the Medicare Part A deductible ($816 in 2025)
• Foreign travel emergency care – up to 80%

What Plan M does not cover:

• Medicare Part B deductible ($257 in 2025)
• Medicare Part B excess charges (up to 15% extra if a provider does not accept Medicare assignment)

Plan M in Action

With Plan M, you trade slightly lower premiums for more cost-sharing. For example, if you are hospitalized in 2025, you will pay $816 (half of the Part A deductible) before coverage begins. Once paid, Plan M covers all Part A coinsurance and related hospital costs.

For outpatient care, you still pay the annual Part B deductible before Medicare pays 80% and Plan M covers the remaining 20% coinsurance.

Plan M vs. Other Medigap Plans

• Plan N: Similar premiums but includes small office and ER copays instead of splitting the Part A deductible.
• Plan G: More comprehensive coverage (includes full Part A deductible and excess charges) but usually higher premiums.
• Plan D: Covers the full Part A deductible but not Part B excess charges.

How Common Is Plan M?

Plan M is one of the least common Medigap options. Only about 8% of insurers offer it, and fewer than 1% of beneficiaries are enrolled nationwide. Availability varies by state, so it may not be offered in your area.

When to Enroll

The best time to enroll in any Medigap plan is during your Medigap Open Enrollment Period. This 6-month period begins when you turn 65 and enroll in Medicare Part B. During this window, insurers cannot deny you coverage or charge more due to health conditions.

Outside of open enrollment, you may face medical underwriting unless you qualify for a guaranteed issue right.

Compare Plan M to Other Medigap Options

Use the chart below to see how Plan M stacks up against other standardized Medigap plans.

Next Steps

If you’re looking for lower premiums and don’t mind splitting the Part A deductible, Plan M may be worth considering. Compare costs in your state with our Compare Rates tool or speak with a licensed insurance agent to see if Plan M is offered near you.