Between premiums, deductibles and coinsurance amounts, Medicare can be a numbers game. But there are also some letters associated with Medicare that are important for all beneficiaries to understand.
What is the meaning of these Medicare letters? Here we break them down so that you can have a clearer understanding of your Medicare coverage.
Until 2019, Medicare cards contained letters that carried a meaning based on your type of coverage. But the letters on new Medicare cards, which all beneficiaries should receive in the mail by April of 2019, will carry no such meaning.
The Medicare number displayed on Medicare cards in 2019 and after (known as an MBI, or Medicare Beneficiary Identifier) is 11 characters long:
The MBI is randomly generated and is “non-intelligent,” which means it contains no hidden or special meaning and is therefore more difficult for someone to use to steal your identity or commit fraud.
The four different parts of Medicare are each identified by a letter.
Medicare Supplement Insurance, also called Medigap, uses a letter system to identify its plans. Medicare Supplement Insurance is used in conjunction with Part A and Part B of Medicare to provide coverage for certain out-of-pocket expenses like some Medicare deductibles and coinsurance.
There are 10 Medicare Supplement Plans to choose from, identified by letters: Plan A, B, C, D, F, G, K, L, M and N. Note that Medigap coverage options are referred to as “plan” (e.g., Medigap Plan A) as opposed to “part” (Medicare Part A hospital insurance).
Do you have more questions about Medicare letters? Would you like to speak with a licensed insurance agent who can answer your Medicare questions and help you compare Medicare Advantage plan options available where you live?
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