Medicare Supplement (Medigap) Plan K

Medigap Plan K covers Original Medicare’s hospital deductible and 50% of copayment expenses.

What Does Medigap Plan K Cover?

Medicare Supplement Plan K includes an annual out-of-pocket limit of $5,560. Original Medicare, on the other hand, does not offer this benefit. If you happen to reach your out-of-pocket limit, Medigap Plan K might cover all of your Medicare-covered costs for the remainder of the year.

Medicare Supplement Plan K also covers half of these costs left over from Original Medicare:

  • Medicare Part A deductible
  • Medicare Part B copayment
  • Medicare Part A hospice care copay
  • Skilled nursing facility care coinsurance
  • First three pints of blood for an approved medical procedure

Plan K does not cover Part B’s deductible, excess charges, or a foreign travel emergency.

What makes Plan K a popular choice is the lower premiums. If you do not visit the doctor’s office or hospital frequently, it might be wise to share some of the medical expenses so you save on monthly premiums. 

Turning 65 Solutions can assess your situation and offer you a plan that fits your budget and healthcare needs.

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What Is the Out-Of-Pocket Maximum for Medigap Plan K?

In 2020, the maximum out-of-pocket limit for Medigap Plan K is $5,880. You will not have to pay more than this out of your own pocket for Medicare-related things in a single year. If you happen to reach this limit, your Medicare Supplement must cover all of your Medicare-related expenses for the remainder of the year. 

Due to this maximum, plenty of Medicare beneficiaries will accept the lower premiums offered by Plan K. They know that if they ever have a major health problem, there is a limit to how much they have to pay out-of-pocket.

Get Your Medicare Supplement Insurance Quote

Are you interested in Medigap Plan K or another Medicare Supplement Insurance plan? If so, we can help you find a great rate and offer advice so you feel at ease with your decision. Call 800-515-4031.