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Medicare Supplement Plan L


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

Medigap Plan L is one of three Supplement plans involving cost-sharing. Thus, Plan L doesn’t offer the most comprehensive coverage but it is one of the plans with a lower monthly premium.

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

Medicare Supplement Plan L Comparison Chart 2021

What is the Average Cost of Plan L?

The average cost of 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.

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.

FAQs

When can I enroll in Plan L?
Beneficiaries can enroll in a Medigap plan at any time. Yet, it is best to utilize your Medigap Open Enrollment Period or another time when you have guaranteed issue rights so you can avoid underwriting questions that could disqualify you from a plan.
Is Medicare Plan L a good plan?
If you’re looking for a Medigap plan with a lower premium and don’t mind cost-sharing, Plan L can be a good choice. The maximum out-of-pocket of the plan limits the amount for which you’ll be responsible outside of your monthly premiums.
Does Medigap Plan L come with prescription drug coverage?
None of the Medigap plans that are currently on the market include prescription drug coverage. To ensure coverage for the prescriptions you take at home, pair your Medigap policy with a Part D plan.
Does Medicare Supplement Plan L cover a psychiatrist?
Medicare Supplement plans cover the remainder of the cost for the same services Original Medicare covers. Part B covers visits with mental health professionals such as psychiatrists, so Medicare Supplement plans cover the remainder that Original Medicare doesn’t.
Should I enroll in Medicare Supplement Plan F or Plan L?
Plan F is the most comprehensive Medigap plan. However, it isn’t available to everyone who is eligible for Medicare. For those who can’t get Plan F and don’t mind cost-sharing, Plan L can be a good alternative with a lower premium.

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.

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Lindsay Malzone

Lindsay Malzone is the Medicare expert for MedicareFAQ. She has been working in the Medicare industry since 2017. She is featured in many publications as well as writes regularly for other expert columns regarding Medicare. You can also find her over on our Medicare Channel on YouTube as well as contributing to our Medicare Community on Facebook.

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