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.