Is Plan K of the Medicare Replacement Insurance Program (Medigap) Right for You?
Private insurance providers offer Medicare Supplement plans (also referred to as Medigap plans). They will be able to assist you with copayments, coinsurance, and deductibles under Medicare Part A and Part B. If you have Medicare Parts A and B, you may want to think about getting a Medicare Supplement package.
Plan K of the Medicare Supplement Insurance Program (Medigap) provides health benefits.
If you want a Medicare Supplement plan with a lower cost but less coverage than other Medigap plans, Medicare Supplement Plan K is a good option. It provides partial health coverage by covering half of many Original Medicare deductibles and copayments.
After your Medicare benefits have been exhausted, Medicare Replacement Plan K covers all of your Medicare-approved Part A coinsurance and hospital expenses for up to an additional 365 days. Project K can also cover half of the following costs:
Copayment or coinsurance for Medicare Part B
A concealed medical procedure's first three pints of blood
Coinsurance or copayment for hospice treatment under Medicare Part A
Coinsurance for skilled nursing facility services
Deductible for Medicare Part A
In addition, after your Medicare benefits have been expended, Medicare Replacement Plan K covers 100 percent of your Medicare Part A coinsurance and hospital expenses for up to another year.
Out-of-pocket cap for Medicare Replacement (Medigap) Plan K
For eligible Medicare-related programs, your annual out-of-pocket cap under Medicare Supplement Plan K is $5,880 (in 2020). If you've hit your annual out-of-pocket cap, Medicare Replacement Plan K covers all eligible benefits for the remainder of the calendar year.
Using our Medicare Supplement Plan benefit map to compare the benefits of Medicare Supplement Plan K to the benefits of other Medigap programs.
The United States government or the federal Medicare program have no affiliation with or endorsement of Medicare Supplement insurance policies.
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