Medigap Plan K
Medicare Supplement (Medigap) Plan K is a little different than the other supplemental insurance plans. It covers the Part A hospital deductible AND about half of the other gaps in Original Medicare.
Medigap Plan K Benefits
50％ Part A deductible
50％ Part B coinsurance
50％ First three pints of blood
50％ Skilled nursing facility coinsurance
50％ Part A hospice care coinsurance
✔ Part A coinsurance and hospital costs
To clarify, Plan K covers 100% of your Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are exhausted).
It does NOT cover the Part B deductible, Part B excess charges, or foreign travel emergency care.
Why Plan K?
Plan K may suit your needs — if you don’t mind fewer benefits for lower premiums. You and the insurance company split the cost-sharing on select items, such as the Part A deductible.
On the flipside, Plan K still covers preventative care services and gives you an additional year in the hospital.
Medigap Plan K Out Of Pocket Maximum
Plan K also has a limit on your spending, known as an out-of-pocket maximum. For example, if you have a calendar year with several medical treatments, your own spending may hit the maximum amount — which is $6,940 in 2023. If it does, your Medigap Plan K policy will pay all the remainder for that year. Plan K policyholders won’t pay more than $6,940 out-of-pocket in the year 2023.
Your insurance company will monitor exactly how much spending you’ve done for the year.
Call Us for Medigap Plan K Quotes
Fewer carriers offer Medigap Plan K, so it can be harder to find quotes. That’s where we come in. Simple Retirement Benefits knows which carriers offer Plan K policies in your state. We can get rates for you so you don’t have to do hours of research. Let us do the work while you focus on what really matters. Call 512-432-5414 for FREE Medicare help.
