Medicare Supplement Plan L

Medicare Supplement Plan L offers full coverage for Part B preventive care coinsurance, Part A coinsurance and hospital costs up to 365 days beyond when Medicare benefits are exhausted, as well as foreign travel emergency up to plan limits. As it is a cost-sharing plan, Plan L offers 75% coverage for Part B coinsurance or copays, the first three pints of blood, Part A coinsurance or copays for hospice, coinsurance for skilled nursing facilities, and the Part A deductible.

For those who aren’t concerned with Part B excess charges, this plan could be an option. Excess charges aren’t allowed in every state and aren’t common in the states where they are allowed. Plan L also doesn’t cover the Part B deductible but all the plans that do have been discontinued for newer beneficiaries.

Medicare Supplement Plan L Comparison Chart for 2021

The average cost of Medicare Supplement Plan L is around $80-$180 per month. Medigap monthly premiums depend on numerous factors, such as the cost of living in your state. The only way to obtain an accurate estimate for what you will be paying is to speak to a Medicare agent.

Medigap Plan L and Plan K both involve maximum out-of-pocket (MOOP) limits. The purpose of the MOOP is to protect beneficiaries from spending over a certain amount on covered services out-of-pocket in a calendar year. The MOOP for Plan L in 2021 is $3,110. This dollar amount is subject to change annually.

An example of how the MOOP works is if you develop a severe illness that requires frequent hospital stays. With Plan K, the most you’ll pay outside of your monthly premiums is $3,110 for the year. If you spend $3,110 out-of-pocket on the hospital stays, you can expect 100% coverage from your carrier on any further Medicare-covered services during that year.