Medicare Supplement Plan L offers some attractive benefits. However, not all beneficiaries will be on board with the cost-sharing this plan involves. Yet, Plan L certainly offers more coverage than Original Medicare alone.
Medicare Supplement Plan L in 2021
What Does Medicare Plan L Cover?
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
What is the Average Cost of Plan L?
What is the Medicare Supplement Plan L Maximum Out-of-Pocket for 2021?
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.
How to Enroll in Medigap Plan L
Finding the right Medigap plan for your needs is easier than it sounds. An agent licensed in your state can help you find the best coverage for your health and budget needs.
To start the plan shopping process with us, call the phone number above. You may also submit our online rates form and one of our agents will prepare a comparison of monthly premiums for plans in your area.