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Medigap Plan K

Medigap Plan K grants the same basic benefits as other Medicare supplements, but with lower premiums.

For example, Plan K still covers preventive care services and grants you an extra year in the hospital. But you share costs with the insurance company on certain things, like the Part A deductible. Also, you agree to pay the Part B deductible and excess charges.

Medicare Supplement Plan K also contains a cap on your spending known as an out-of-pocket maximum. So, if you have a year with many medical treatments, and your out-of-pocket spending hits the maximum limit, then your Plan K policy will chip in to pay all the rest for that year. We explain more about this below.

Medigap Plan K Benefits

Medigap Plan K covers the Part A hospital deductible and roughly half of the other gaps in Medicare. Here are the benefits:

  • Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are exhausted)
  • 50% of blood (First 3 pints)
  • 50% of Medicare Part B copayment
  • 50% Part A hospice care copayment
  • 50% Medicare Part A deductible. 
  • 50% skilled nursing facility coinsurance

Plan K doesn’t cover Medicare Part B deductible, Part B excess charges, or a foreign travel emergency. 


Medigap Plan K Maximum Out of Pocket

Medicare Supplement Plan K’s cap is $5,880 in 2020. This is the most you’d spend in any calendar year. This cap is like the out-of-pocket maximums you’ve had on employer group insurance plans in the past. Your carrier will monitor how much out-of-pocket spending you’ve done for the calendar year. If you happen to go over the cap, the insurance policy has to cover 100% of the rest of your costs moving forward.

Get Quotes for Medigap Plan K

Not all insurance carriers offer Plan K, so it can be difficult to find quotes. Don’t worry — our agents know which companies in your state offer Medigap Plan K. We can easily get rates for you so you don’t have to endure the headaches. Contact Cornerstone Senior Advisors to request a quote! You can reach us online or call (316) 260-3331.