Medicare Plan K
Medicare Supplement Plan K is an insurance policy. Like all Medicare Supplement plans, it’s designed to cover the gaps in Original Medicare. Medicare Plan K often has premiums that are less expensive compared to other plans.
Medicare Supplement Plan K
Plan K doesn’t offer comprehensive coverage as some of the more popular plans. This post will dive deep into Medigap Plan K and by the end you should be able to see if it’s a good fit for your needs. When you’re done, make sure to read about the other Medicare plans available below.
What Medicare Plan K Covers
Medicare Supplement Plan K, also known as Medigap Plan K, doesn’t provide comprehensive coverage – but has some excellent benefits. Plan K will cover your Part A hospital Deductible as well as your Medicare Part A hospital costs and Coinsurance.
Plan K only covers 50% of several Medicare coverage benefits. Let’s look more closely at Medigap Plan K’s coverage details:
- Medicare Part A Coinsurance & Hospital Costs (Covered)
- Blood (First 3 Pints) (50% Covered)
- Skilled nursing facility Coinsurance (50% Covered)
- Medicare Part A Deductible (50% Covered)
- Part A Hospice Care Coinsurance or Copayment (50% Covered)
- Medicare Part B Coinsurance and Copayment (50% Covered)
- Foreign Travel Emergency (up to plan limits) (Not Covered)
- Medicare Part B Excess charges (Not Covered)
- Medicare Part B Deductible (Not Covered)
What Medigap Plan K DOESN’T Cover
Medigap Plan K will not cover foreign travel emergencies, your Medicare Part B deductible or any Part B excess charges. Plan K will also leave you on the hook for 50% of several benefits as shown in the chart below.
| Medicare Supplement Benefits | Plan K covers? |
|---|---|
| Medicare Part A coinsurance & hospital costs (up to additional 365 days after medicare benefits are used | YES |
| Medicare Part B coinsurance or copayment | 50% |
| Blood (first 3 pints) | 50% |
| Part A hospice care coinsurance or copayment | 50% |
| Skilled nursing facility care coinsurance | 50% |
| Part A deductible | 50% |
| Part B deductible | NO |
| Part B excess charges | NO |
| Foreign travel emergency (up to plan limits) | NO |
Plan K has Lower Premiums but Less Benefits
Medigap Plan K provides shoppers with several of the typical benefits as other Medicare supplements. The biggest difference is that Plan K will usually have lower premiums.
However, this “deal” comes at the expense of fewer benefits. In other words, you’re sharing half of the coverage costs with your insurance company for several Medicare benefits.
Medigap Plan K Quotes
Medigap Plan K isn’t as popular as other supplements such as Plan G or Plan N. It’s no always easy to find Plan K quotes as many Medicare Supplement insurance companies will not offer it. Give REMEDIGAP a call today. We know which insurance companies offer Plan K in your state. We can quickly research Medigap rates for you. We do all the work for you so that you don’t have to waste time searching dozens of carriers to find the few that may offer you this option.
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Written by Michael Quinn
Licensed Broker, REMEDIGAP Founder
Fact Checked by Joann Quinn
Chief Compliance Officer
As a licensed insurance broker, REMEDIGAP upholds the principles of integrity in our editorial standards and ensures transparency in how we receive compensation from our insurance partners.