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.
Michael Quinn is an independent licensed insurance agent with a passion for helping others navigate the complex world of Medicare insurance. With over a decade of experience in the field, Michael has established himself as a trusted advisor to countless individuals seeking guidance on their healthcare coverage options.
In 2013, Michael obtained his license as an insurance agent, laying the foundation for his successful career in the industry. Prior to that, he earned his Masters Degree in Communicative Disorders from the University of Central Florida, which equipped him with strong communication and interpersonal skills.
Driven by a genuine desire to make a positive impact on people's lives, Michael co-founded REMEDIGAP in 2013. It was created as a dedicated platform that aims to educate individuals about Medicare insurance. Through REMEDIGAP, Michael provides comprehensive resources and unbiased information to empower individuals to make informed decisions about their healthcare coverage.
With his extensive knowledge and expertise, Michael has been able to guide thousands of individuals towards finding the most suitable Medicare insurance plans tailored to their unique needs. His dedication to his clients' well-being, coupled with his passion for simplifying complex insurance concepts, has earned him a reputation as a compassionate and reliable advisor.
His work has appeared on many blogs and websites including, USA Today, Yahoo.com, Nerdwallet, Think Advisor, and REAL SIMPLE.
