Medigap Plan K
Medigap Plan K’s benefits
Medigap Plan K is appealing for its lower premium costs relative to other options. It covers all but three items in the Medicare Supplement Plan coverage categories. Medigap Plan K covers a percentage of the costs, until you pay your annual part B deductible ($203 in 2021) and its out-of-pocket maximum ($6,220 in 2021). After those are met, the coverage is 100% for the rest of the year.
Medigap Plan K covers:
- Medicare Part A coinsurance and hospital costs (100%)
- Medicare Part B coinsurance or copay (50%)
- First three pints of blood (50%)
- Medicare Part A hospice care coinsurance or copay (50%)
- Medicare Part A deductible (50%)
- Care in a Skilled Nursing Facility (50%)
What Medigap Plan K doesn’t cover
Medigap Plan K does not cover:
- Medicare Part B deductible
- Medicare Part B excess charges
- Emergency care during foreign travel
Interpreting Medigap Plan K’s coverage
This particular Medigap Plan covers more than what meets the eye. Once the annual out-of-pocket limit and Medicare Part B’s deductible are met, this mirrors the coverage offered by Medigap Plan D (the difference being that Plan D has coverage for foreign travel emergencies). So here, a person has an affordable means of eventually getting 100% coverage in all but three Medigap Plan categories.
If you need more assistance with understanding Medigap Plan K, contact World Financial Solutions today.
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