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Are you turning 65 soon? Don’t overlook these guidelines when signing up for Medigap.   

Medicare Supplement Plan K Coverage

by: Leandro Mueller

At a lower monthly premium, Medicare Supplement Plan K offers the same benefits one gains from other Medigap policies. However, coverage for coinsurance and copayments is lowered.

Medigap offers 10 standardized plans available in most states, each covering different out-of-pocket expenses. Other states, such as Massachusetts, Wisconsin, and Minnesota, have their own standardized plans.

 

Medigap Plan K Benefits

Part A hospitalization coinsurance coverage check
Part A deductible coverage 50%
Hospice cost-sharing 50%
The first three pints of blood per calendar year 50%
Part B coinsurance coverage 50%
Part B preventive services coinsurance coverage check
Skilled-nursing facility care coinsurance coverage 50%
Annual out-of-pocket limit check

 

Additional Plan K Coverage:

  • Access to skilled nursing facility care (50% coinsurance coverage)
  • Part A hospitalization deductibles (50% coverage)
  • Out-of-pocket annual limit

 

Medicare Supplement Plan K has an out-of-pocket annual limit. This means that the policy will 100% cover for Medicare-approved costs once a beneficiary reaches the cap for out-of-pocket expenses.

 

Depending on the plan that you choose, you may have to pay for deductibles and other payables before you receive the benefits. Get in touch with us and we will provide you with the detailed coverage and costs.

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