Supplement Plan L

Medicare Plan L

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Medicare Plan L

Medigap Plan L is a Medicare Supplement plan that can help save you some money on your monthly premiums due to additional cost sharing of out-of-pocket expenses. These expenses would be your responsibility until you have reached your yearly out-of-pocket limit and deductibles. Then, Medicare Plan L would pay for covered Medicare approved costs for the remainder of the year.
  
• Plan L covers 100% of Part A’s hospital costs and coinsurance up to an   additional 365 days after Medicare’s benefits are used up

Medigap Plan L will cover 75% of the following costs until you meet your out-of-pocket limit:

• Original Medicare Part A deductible
• Part A Hospice Care coinsurance and copayments
• Part B coinsurance and copayments
• Skilled nursing facility coinsurance
• Blood (first 3 pints)

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Medicare Plan L doesn’t cover such things as your Part B deductible, Part B excess charges or Foreign Travel Emergencies. The annual Part B deductible for plan year 2020 is $198.

The yearly out-of-pocket limit for Medicare Plan L is $2,940 for the plan year 2020. After an enrollee of Plan L is to reach their out-of-pocket limit, the approved Medicare services would be covered at 100% for the remainder of the calendar year.
  
With the additional cost sharing and deductibles for the enrollee, the premiums can be lower than some other Medigap policies. Medicare beneficiaries might prefer the lower monthly premium costs, with the protection of the annual out-of-pocket limit in case something major was to happen.

Medicare Supplement policies can be confusing with all of the different coverage levels and premiums for each of them. Each insurance company has to offer the same benefit levels for a Medigap Plan L. However, the premium each of the carriers can charge for Medicare Plan L can be very different. Working with one of our independent Medicare Agents at A+ Benefits Group, will allow you to see the cost from every carrier in your area for a Plan L or any other Medigap policy. Give us a call today with your questions and we will be happy to provide you a no cost review of your options.

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