Medicare Supplement Plan K
Medicare Supplement Plan K is one of the standardized Medicare Supplements
plans available in 47 states of the United States. This means that the Plan K that’s offered in one state provides the same coverage as the Plan K that’s offered in another state. However, if you live in any of except in Massachusetts, Minnesota, and Wisconsin states, you will have to buy a different form of coverage.
Medicare Supplement Plan K differs from other Medigap plans because it provides partial coverage. Plan K pays only 50% of most of the expenses it covers. Hence, policyholders would still pay 50% out-of-pocket for whatever services they are rendered.
Plan K Covers Part A Coinsurance And Hospital Costs Up To An Additional 365 Days After Medicare Benefits Are Used Up And 50% Of The Following:
Part A deductible
Part A hospice care coinsurance or copayment
Part B coinsurance or copayment
Skilled nursing facility care coinsurance
First 3 pints of blood in a medical procedure
Medicare Supplement Plan K has low premiums, which can be attributed to its coverage. It is also one of only two Medicare Supplement plans with an out-of-pocket limit. In others words, if your out of pocket costs (for approved Medicare services) reaches $6,940 in 2023, the plan pays 100% of its covered services for the rest of the year.
Medicare Supplement Plan K Doesn’t Cover The Following Items:
Medicare Part B deductible
Medicare Part B excess charges
Emergency medical care during foreign travel
Medigap Plan K is not very popular because Plan G and Plan N still seem to be the overall best value for most people.
Top 5 Medicare Mistakes to Avoid!
Medicare is complicated and making the wrong decision can be costly. We have put together a FREE resource guide covering the Top 5 Medicare mistakes and how to avoid them. Here is what you will learn in this educational resource:
Proven Steps to Achieve Medicare Success
How To Avoid Costly Mistakes & Lifetime Penalties
Discover What Insurance Companies Aren't Telling You
Don’t leave your health coverage in retirement to chance. Download this FREE resource today!"
Our personalized expert guidance is FREE of charge so that you can save time and money! And even better, when you take care of your Medicare plan enrollment with us, we make a donation to Operation Underground Railroad, which is pioneering the fight against Human Sex Trafficking.
The Your Local Medicare
Help Save the Children Fund
For every person we help enroll into a Medicare plan we donate to this fund.