Medicare Supplement Plan M, explained.
Plan M is the “shared deductible” plan. It covers most benefits at 100% like the fuller plans, but splits the Part A hospital deductible with you 50/50 — which lowers your premium. A balanced middle option that’s often overlooked. May River Medicare compares every plan against your budget, at no cost.
A shared-deductible plan with no out-of-pocket cap. Open to new enrollees. All figures reflect 2026 amounts.
Plan M shares the hospital deductible with you. Where fuller plans pay 100% of the $1,736 Part A deductible, Plan M pays exactly half — $868 — and you pay the other $868 per benefit period. In exchange, your premium is lower. Everything else Plan M covers is paid at 100%. Don’t confuse Plan M with High-Deductible Plan G — they work very differently.
Three things to know about Plan M
Shares the Part A deductible
Plan M covers 50% of the $1,736 hospital deductible ($868), and you cover the other half. That split is what lowers the premium.
Most other benefits at 100%
Part B coinsurance, skilled nursing, blood, hospice, and foreign travel are all covered in full — just like the fuller plans.
No out-of-pocket cap
Unlike Plans K and L, Plan M has no yearly maximum. If you have multiple hospital stays, you could owe $868 in each separate benefit period.
Exactly what Plan A does and doesn’t cover
What Plan M covers
- 50% of the Part A hospital deductible ($868 of the $1,736 in 2026)
- 100% of Part A hospital coinsurance — plus 365 extra days after Medicare benefits end
- 100% of Part B coinsurance or copayment (the 20% Original Medicare leaves you)
- 100% of skilled nursing facility coinsurance
- 100% of the first 3 pints of blood + Part A hospice coinsurance
- Foreign travel emergency care (80% after deductible, up to plan limits)
What Plan M does not cover
- The other 50% of the Part A deductible ($868) — you pay this
- Part B deductible ($283 in 2026)
- Part B excess charges
- Prescription drugs, dental, vision, hearing (pair with Part D separately)
Plan M works best if you don’t expect frequent or repeated hospital stays. Its lower premium can beat Plan D or G over a healthy year — but remember there’s no out-of-pocket cap, so the $868 hospital share can recur in each separate benefit period. It also doesn’t cover Part B excess charges. We’ll compare Plan M against Plan D, N, and G so you can see where the break-even really is for you.
Who Plan M tends to fit
Healthy, infrequent hospital users
If you rarely expect inpatient stays, sharing the hospital deductible for a lower premium can pay off — you keep the savings in good years.
Wants full doctor coverage, no copays
Unlike Plan N, Plan M has no office or ER copays — your Part B costs are covered at 100% after the deductible.
No Medigap plan includes prescription coverage — you’ll pair Plan A with a separate Part D plan. And your best enrollment window is the 6-month Medigap Open Enrollment Period (starting when you’re 65 and on Part B), when carriers can’t deny you or charge more for health conditions.
Is Plan M’s shared deductible worth it? Let’s compare.
We’ll put Plan M side by side with Plan D, Plan N, and Plan G using real rates from 30+ A-rated carriers, so you can weigh the lower premium against sharing the hospital deductible. Free, no pressure, no carrier bias.
May River Medicare Insurance is an independent agency and is not affiliated with or endorsed by the U.S. government, the federal Medicare program, or CMS. Medigap benefits are federally standardized; premiums vary by carrier, age, location, and tobacco use. Figures reflect 2026 amounts published by CMS and independent sources. For a complete list of your options, contact Medicare.gov or 1-800-MEDICARE.