Medicare Supplement Plan L (Medigap)
Medicare Supplement Plan L is supplemental insurance that’s available to be used with Original Medicare healthcare insurance. This type of health insurance coverage is also referred to as Medigap because it fills in some of the gaps that are left to be paid by the insured after Medicare pays their portion.
Plan L pays just a portion of the costs that remain after Medicare pays their part. Not all health care or medical costs are covered with Plan L, and there will still be some out-of-pocket expenses remaining that will need to be paid by the insured. Make sure to educate yourself on all the plan options before choosing one.
Medicare Supplement Plan L Benefits
Medicare Supplement Plan L benefits offer a shared cost approach to covering the medical costs that are left remaining after Medicare pays.Plan L covers 75% of the remaining expenses, co-payments, or coinsurance. This could be more budget friendly if you’re only looking for help on certain Medicare costs and don’t want high premiums.
Please remember that this coverage does not work with Medicare Advantage Part C. You won’t be able to use your supplement plan with Part C and it’s against government regulations for an agent to willingly sell you a supplement plan if you’re currently enrolled in a advantage plan. If you want a supplement plan then talk to one of our senior agents to see if you can cancel your Part C and switch back to Original Medicare.
Medicare Supplement Plan L vs Plan K
Medicare Supplement Plan L vs Plan K is the cost sharing percentage, Plan K covers 50% and Plan L covers 75% of the below benefits:
- Part A Deductible
- Coinsurance for an approved skilled nursing facility
- Co-payment and/or coinsurance for Part A hospice care
- First 3 pints of blood
- Co-payment and/or coinsurance for Part B Medicare
The Medicare Supplement Plan L out of pocket maximum for 2017 is $2,560. Once you meet your yearly out of pocket limit and yearly deductible for Medicare Part B, your supplement plan covers 100% of approved services for the remainder of the given calendar year.
Determine the Best Medicare Supplemental Policies
It can be difficult to determine what the best Medicare Supplemental policies are best for your individual needs. This can be especially tricky when concerning shared payment plans. Read the answers to many of the most common questions beneficiaries have on supplement insurance over in our FAQ section of our website. We also share the best healthcare tips on our blog weekly. If you’re a visual learner then watch out agent videos over in our video gallery to meet our agents and get answers to some of your questions!
For assistance in costs of plans and choosing the right plan, those interested can get free information & rates with no obligation by calling the number above or by filling out our online form to compare rates with the top carriers in your current location today!