Medicare Supplement Plan K
Medicare Supplement Plan K is the Medigap plan that covers Original Medicare’s hospital deductible and 50% of coinsurance and copayment expenses.
What does Medicare Supplement Plan K cover?
Medigap Plan K includes a yearly out-of-pocket limit of $5,560. This is huge because Original Medicare does not feature this benefit. So, if you were to reach your out-of-pocket limit, Medigap Plan K may cover 100% of your Medicare-covered costs for the rest of the year. Medicare Supplement Plan K also covers 50% of these expenses left over from Original Medicare:- Medicare Part A deductible
- Medicare Part A hospice care coinsurance or copay
- Skilled nursing facility care coinsurance
- Medicare Part B copayment or coinsurance
- First three pints of blood for a covered medical procedure
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What is the out-of-pocket maximum for Medigap Plan K?
The maximum out-of-pocket limit for Medigap Plan K is $5,240 in 2019. This is the most you will have to pay out of your own pocket for Medicare-related expenses in a single year. If you were to ever hit this limit, your Medicare Supplement has to cover 100% of your Medicare-related expenses for the rest of the year. Because of this maximum, lots of Medicare beneficiaries will take the lower premiums offered by Plan K, knowing if they were to ever have a major health issue, the out-of-pocket limit offers a ceiling for their expenses.
Medicare Supplement Insurance Quotes
If you are interested in Medigap Plan K or any other Medicare Supplement Insurance plan, a licensed Medicare agent at Bobby Brock Insurance will be happy to shop for a good rate and offer consultation services so you feel comfortable in your decision on a policy.
