Medicare Supplement Plan L is supplemental insurance.
It’s available to be used with Original Medicare healthcare insurance.
This type of health insurance coverage is also referred to as Medigap.
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. There will still be some out-of-pocket expenses remaining.
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. Therefor, 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, this coverage does not work with Medicare Advantage Part C.
You won’t be able to use your supplement plan with Part C. It’s against government regulations for an agent to willingly sell you a supplement plan if you have a advantage plan.
Talk to one of our senior agents to see if you can cancel your Part C and switch back to Original Medicare.
Plan L doesn’t include overseas Medicare insurance coverage.
Unless you live in a state that enforces the Medicare Overcharge Measure, this plan does not cover any excess charges.
Medicare Supplement Plan L vs Plan K
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 OOP limit and yearly deductible, 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.
For assistance in costs of plans and choosing the right plan, those interested can get free information & rates. Call the number above or fill out our online form to compare rates today!