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November 22, 2011

Medicare Supplement Plans - Plan K

50% Coverage for Many Deductibles and Co-Payments

Unlike most of the other Medicare Supplement plans, many of Plan K's benefits represent partial coverage. For the following benefits, Plan K will pay for 50% of the expenses:

  • Medicare Part B co-payment or co-insurance coverage
  • First three pints of blood for a covered medical procedure
  • Part A hospice care co-insurance or co-payment
  • Skilled Nursing Facility (SNF) care co-insurance
  • Medicare Part A deductible

Plan K does offer full coverage for the following:

  • Medicare Part A co-insurance hospital costs up to an additional 365 days after Medicare benefits are exhausted
  • Medicare preventive care Part B co-insurance

Out-Of-Pocket Annual Limit

Plan K limits your annual out-of-pocket expenditures to $4,660 for approved Medicare-related services. After the $4,660 annual out-of-pocket limit is reached, Plan K pays 100% of covered services for the rest of the calendar year.

To evaluate Plan K against the benefits of other Medigap plans, use our Medicare Supplement plan benefit chart.

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Medicare Advantage Plans, sometimes called "Part C" or "MA Plans," are offered by private companies approved by Medicare and provide Medicare Part A and Part B coverage. Medicare prescription drug coverage is insurance run by an insurance company or other private company approved by Medicare. A Medicare Supplement plan is a health insurance plan provided by a private company that fills in the "gaps" in original Medicare coverage.