Medicare Supplement Plan K is a cost-sharing plan that offers partial coverage for a specific group of services that aren’t fully covered by standard Medicare plans. Medigap Plan K has lower premiums and higher deductibles and has the highest out-of-pocket requirement of all the available Medicare supplement plans. Your annual out-of-pocket limit under Medicare Supplement Plan K is $5,240 (in 2018) for approved Medicare-related services. Once you reach your annual out-of-pocket limit, Medicare Supplement Plan K pays 100% of covered services for the rest of the calendar year.
Medigap Plan K covers 50% of the following services:• Coinsurance and copayments not covered by Medicare Part B
In any event, when you are shopping around for Medicare Supplement Plan K, it is equally important to get quotes from multiple insurance companies, and compare apples to apples. Medicare Supplemental Plan K is designed by Medicare, therefore will have the same coverage and benefits no matter which insurance company you compare it with--the only difference between companies is what they charge.
Comparison chart of all 10 plans side-by-side:
|Part A Hospital Coinsurance|
|365 Additional Hospital Reserve Days|
|Benefit For Blood||50%||75%|
|Part B Co-Insurance||50%||75%||*Co-Pays|
|Skilled Nursing Facility Co-insurance||50%||75%|
|Part A Deductable||50%||75%||50%|
|Part B Deductable|
|Part B Excess|
|Foreign Travel Benefit||80%||80%||80%||80%||80%|
|Preventive Care Co-Insurance|
|Out of Pocket Limit||None||None||None||None||None||None||$5,240||$2,620||None||None|