Medigap Plan K
What is Medigap Plan K and What does it cover?
Medicare Supplement Plan K pays for part of your Original Medicare expenses gaps. It covers all your Medicare Part A hospital and coinsurance expenses for up to an additional 365 days after exhausting Medicare benefits.
Moreover, Medigap Part K covers 50% of the following costs:
- Medicare Part A hospice care coinsurance and copayments.
- Medicare Part A deductibles
- Medicare Part B copayments or coinsurances
- The first three pints of blood during medical procedures
- Skilled nursing healthcare facility coinsurance
Medigap Plan K does not cover:
- Foreign travel healthcare emergency coverage
- Medicare Part B deductible
- Medicare Part B excess costs
As a result, your out-of-pocket costs will include the remaining 50% of your Medigap plan K expenses and all Medicare costs it does not cover mentioned above.
How much should I expect to cover in out-of-pocket costs with Medigap Plan K?
While Medicare Plan K offers low premiums, it comes with a $6,220 out of pocket limit as of 2021. Once you reach this limit covering your healthcare expenses, Medigap will cover the rest of your healthcare expenses for the remainder of the year.
This Medicare Supplementary plan offers the most advantages to beneficiaries if they ever have major health issues as they get full coverage at low premiums.
How do I enroll in Medigap Plan K?
To enroll in Medigap Plan K, you have to be a Medicare Part B beneficiary. Once you meet the Medigap eligibility criteria, you can easily enroll in Medicare Supplementary Plan K without having to visit your local Social Security offices.
At Your Life Agency, we have experienced Medicare insurance brokers who can help you compare Medigap premiums and assist you with your enrollment process.
Ready to get started?