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 Services
This plan offers the following coverage:
- Hospitalization – Plan K covers Part A coinsurance and 365 additional days after Medicare benefits end (100% coverage).
- Medical Expenses – It also pays for Part B coinsurance (50% coverage). Preventive care services are also covered (100% coverage).
- Blood Supply – The first three pints of blood are covered each year (50% coverage).
- Hospice Care – The plan pays for Part A coinsurance (50% coverage).
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.