Call SelectQuote
Work with one of our licensed insurance agents to get answers to your Medicare questions, unbiased comparisons of coverage and resources to simplify the entire process. Call 1-833-574-3011 (TTY: 1-877-486-2048) to get started.
Learn about Medicare Supplement Plan M with SelectQuote
Let SelectQuote’s licensed insurance agents help answer your questions about Medicare plans.
Medicare Supplement Insurance Plan M (Medigap) Coverage and Costs 2026-2027
Medicare Supplement Plan M is a cost-sharing insurance plan. It is designed for people who want more coverage than basic plans like Plan K or L, but also want to save money on their monthly bill. By agreeing to pay a portion of your hospital deductible yourself, you can often get lower monthly premiums than you would with or .
While Plan M offers great value, it is a less common choice. According to data from NerdWallet, only about 3% of people with Medigap are enrolled in plans other than the most popular (Plans F, G, and N). However, for the right person, it provides a perfect middle ground for .
How the Medicare Plan M Shared Deductible Works
Medicare Supplement Plan M is often called a shared deductible plan. This is because it covers exactly 50% of your Medicare Part A (hospital) deductible.
2026 Figures: The Medicare Part A deductible for 2026 is $1,736
Your Share: Under Plan M, you would pay $868 per benefit period
The Plan’s Share: The insurance company pays the other $868
By sharing this risk with the insurance company, you receive a lower monthly premium. This shared risk results in significant savings compared to "first-dollar" plans that cover the entire hospital deductible.
Shared Deductible vs. High Deductible Medigap
It is important not to confuse Plan M with high deductible plan G (HDG). Here are the differences:
Immediate Help: With Plan M, the plan starts paying its share of your doctor bills (Part B coinsurance) immediately.
The HDG Difference: In an HDG plan, you must pay the entire annual deductible (estimated at over $2,800 in 2026) before the plan pays a single cent.
What Medicare Supplement Plan M Covers in 2026-2027
Plan M provides robust coverage for most major medical needs. Here is what is included:
Hospital Expenses: 100% of Part A coinsurance and hospital costs for up to 365 days after Original Medicare benefits are used.
Medical Expenses: 100% of Medicare Part B coinsurance or copayments.
Blood Transfusions: The first three pints of blood needed for a medical procedure.
Hospice Care: 100% of Part A hospice care coinsurance or copayments.
Skilled Nursing: 100% of the coinsurance for care in a skilled nursing facility.
Additional Hospitalization: 50% of the Medicare Part A deductible ($868 in 2026).
Foreign Travel Emergencies: 80% of emergency medical costs while traveling abroad (up to plan limits).
What Medicare Supplement Plan M Does Not Cover
To keep premiums low, Plan M does not cover every cost. You will be responsible for:
Part B Deductible: In 2026, this is $283. You must pay this once a year before Medicare starts paying for doctor visits.
Part B Excess Charges: If a doctor charges more than the Medicare-approved amount, you must pay the difference.
Prescription Drugs: Medigap plans do not include drug coverage. You should look into a separate Medicare Part D plan to help with those costs.
Who Should Consider Medicare Supplement Plan M
Plan M is an excellent choice for seniors who find Plans K and L too restrictive but whose premiums are too high for Plan G. It is often ideal for:
People who visit the doctor frequently but rarely stay overnight in a hospital.
International travelers who want the peace of mind of foreign travel emergency coverage without the high cost of Plan G.
Advantages of Medicare Supplement M (2026-2027)
Lower Premiums: Usually much cheaper than Plan G or Plan D.
Predictable Doctor Costs: Unlike Plan N, there are no $20 copays for every office visit.
Disadvantages of Medicare Supplement M (2026-2027)
Shared Hospital Costs: You must pay half of the hospital deductible ($868).
No Out-of-Pocket Limit: Unlike Plans K or L, there is no cap on what you might spend on the Part A deductible if you have multiple hospital stays in different benefit periods.
Medicare Supplement Plan M Costs in 2026-2027
Your monthly premium depends on where you live and which insurance company you choose. When budgeting for 2026, remember to include the standard Medicare Part B premium ($202.90) alongside your Plan M premium to see your total healthcare budget.
With Part B premiums rising to over $200 per month in 2026, the lower premiums of Plan M can help seniors maintain a flat monthly budget. By choosing a plan with lower monthly costs, you can offset rising Medicare costs.
How Pricing Works For This Plan
Insurance companies generally use one of three ways to set your price:
Community-Rated: Generally, the same premium is charged to everyone, regardless of age.
Issue-Age-Rated: The price is based on your age when you first bought the policy. It won't go up just because you get older.
Attained-Age-Rated: The price starts low but increases as you age.
Comparing Medicare Supplement Plans
Finding the sweet spot between your monthly premium and potential out-of-pocket costs is the key to a good Medicare strategy.
Plan M vs. Plan G vs. Plan N
Plan M is better for someone who sees the doctor often (avoiding Plan N copays) but rarely goes to the hospital (where they would owe the $868 share).
Benefit | Plan M | ||
Part A Deductible | Plan pays 50% | Plan pays 100% | Plan pays 100% |
Part B Coinsurance | Plan pays 100% | Plan pays 100% (minus copays) | Plan pays 100% |
Part B Office Copay | $0 | Up to $20 | $0 |
ER Visit Copay | $0 | Up to $50 | $0 |
Part B Excess Charges | Not Covered | Not Covered | Plan pays 100% |
Whether you are unable to enroll in Plan M or are not sure if it’s the right plan for you, there are a variety of other Medicare Supplement plans. Learn more about other standardized Medicare Supplement plans below.
Understand All the Plan Options
In most states, there are eight Medicare Supplement plans to choose from, and all policies have been standardized. At SelectQuote, we can help you navigate your Medigap plan options, answering any questions you have to help you find the right plan for your needs and budget. Learn more about additional Medicare Supplement plan options below.
When to Enroll in Medicare Supplement Plans
The best time to sign up is during your Medigap Open Enrollment Period. This six-month window starts the month you turn 65 and are enrolled in Part B. During this time, you can buy any Medigap policy regardless of your health.
If you apply outside this window, insurance companies can use medical underwriting to check your health history. They may charge you more or even refuse to sell you a policy.
Find the Right Medicare Supplement Plan For You With SelectQuote
Navigating Medicare can be confusing, but you don't have to do it alone. Our licensed agents can compare rates from trusted insurance companies in minutes to find a plan that works for your needs and budget.
FAQs About Medicare Supplement Plan M
Learn more about Medicare Supplement Plan M with answers to frequently asked questions.
How much does Plan M cost?
Plan M premiums vary by carrier and location. However, because it is a cost-sharing plan, the monthly premium is typically lower than Plan G.
Do Medicare Supplement plans cover pre-existing conditions?
While insurance companies can’t make you wait for your coverage to start, they may make you wait for coverage for a pre-existing condition. Coverage for pre-existing conditions can be excluded if the condition was treated or diagnosed within six months before the coverage starts under the Medicare Supplement plan.
After the six-month period, the Medicare Supplement plan will cover the condition that was previously excluded. However, it is possible to avoid or shorten the waiting period for a pre-existing condition if you buy a Medicare Supplement plan during your Medigap open enrollment period to replace the “creditable coverage” Medigap plan.
How can I lower the costs of my Medigap Plan M?
While Medicare Supplement Insurance plans, meaning they offer the same benefits, the prices can be different between insurance companies. Shopping around is the best way to make sure you have the plan that you need at a price you can afford.
Do Medigap plans vary by state?
Medigap plans are standardized, meaning they offer the same benefits across most of the states, except for Wisconsin Medicare Supplement plans, Minnesota Medicare Supplement plans, and Massachusetts Supplement plans.
SelectQuote Senior Insurance Services is a division of SelectQuote Insurance Services. © 2026 SelectQuote Senior Insurance Services. All rights reserved.
Please see the Disclosures Page for more information.
MULTI-PLAN_SQSRW2026_M
Looking for an affordable Medicare plan? Let us help.
We’ll call you.
If you’re pressed for time, complete this form and a member of our team will call you at your selected time.