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Is Medicare Supplement (Medigap) Plan K Right for You?

Last Updated on

October 5, 2017

Medicare Supplement plans (also known as Medigap plans) are available through private insurance companies. They may help pay for your costs under Medicare Part A and Part B, like copayments, coinsurance, and deductibles. If you’re enrolled in Medicare Part A and Part B, you may also want to consider purchasing a Medicare Supplement plan.

Health coverage under Medicare Supplement (Medigap) Plan K

If you’re looking for a Medicare Supplement plan with a lower premium but less coverage than some Medigap plans, you may want to consider Medicare Supplement Plan K, which offers partial health coverage by paying 50% of many Original Medicare deductibles and copayments.

Medicare Supplement Plan K pays all of your Medicare-approved Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are depleted. Plan K also may pay 50% of the following expenses:

  • Medicare Part B copayment or coinsurance
  • The first three pints of blood for a covered medical procedure
  • Medicare Part A hospice care coinsurance or copayment
  • Skilled Nursing Facility care coinsurance
  • Medicare Part A deductible

In addition, Medicare Supplement Plan K pays 100% of your Medicare Part A coinsurance and hospital costs for up to another year after your Medicare benefits are exhausted.

Medicare Supplement (Medigap) Plan K out-of-pocket limit

Your annual out-of-pocket limit under Medicare Supplement Plan K is $5,560 (in 2019) for approved Medicare-related services. Once you reach your annual out-of-pocket limit, Medicare Supplement Plan K pays 100% of covered services for the rest of the calendar year.

To evaluate Medicare Supplement Plan K’s benefits against the benefits of other Medigap plans, feel free to use our Medicare Supplement Plan benefit chart.

 

Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program.

Our Licensed Insurance Agents can help you to:
  • Compare plans for free
  • Estimate your savings
  • Enroll in Medicare plan

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