Supplement Plan K

Medicare Plan K

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Medicare Plan K

Medigap Plan K is one of the 10 Medicare Supplement plans with a letter designation. Medicare Plan K can provide monthly premium savings compared to some of the other Medigap plans.
  
Medicare Plan K provides cost sharing to the enrollee for some of the gaps in Original Medicare until they meet their yearly out-of-pocket limit and deductibles. The annual out-of-pocket limit with Medigap Plan K is $5,880.

• Plan K covers 100% of Part A’s hospital costs and coinsurance up to an   additional 365 days after Medicare benefits are used up

Medigap Plan K will cover 50% 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 K doesn’t cover certain things like your Part B deductible, Part B excess charges or Foreign Travel Emergencies. The annual Part B deductible for plan year 2020 is $198.

With additional cost sharing 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.

If you are looking for more information or have any questions regarding Medigap Plan K, talking with one of or licensed Medicare Agents at A+ Benefits Group can help provide you with answers. We can also review all of the other possible Supplement plans, as well as, Prescription Drug coverage and Medicare Advantage Plans.

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