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Home / Resources / Medigap Plan K: Medicare Supplement Insurance

Medigap Plan K: Medicare Supplement Insurance

By Chris Gasparini

Chris Gasparini has been a licensed insurance agent since 2005. He enjoys helping Medicare beneficiaries navigate their options to find the best solution for their unique needs. Chris feels as though ...his work truly helps people. Because he represents multiple insurance companies and plan types, Chris is able to help Medicare beneficiaries find the most cost-effective plan. Every day, he leaves work knowing he did what was right for each and every client he serves.Read more

May 23, 2020


Medigap Plans

Part A Hospital Co-insurance Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
365 Hospital Reserve Days Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Part B co-insurance/co-payment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Blood Benefit (first 3 pints) Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Hospice coinsurance/co-pay Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Skilled Nursing Facility coinsurance No No Yes Yes Yes Yes 50% 75% Yes Yes
Part A deductible No Yes Yes Yes Yes Yes 50% 75% 50% Yes
Part B deductible No No Yes No Yes No No No No No
Part B excess charge No No No No Yes Yes No No No No
Foreign Travel Benefit No No 80% 80% 80% 80% No No 80% 80%
Out-of-pocket limit N/A N/A N/A N/A N/A N/A $6,220 $3,110 N/A N/A

2021 Data – Table Source

What Is Medigap Plan K?

Plan K utilizes different cost-sharing for items and services than most of the supplement plans. Instead of paying all of your costs, the plan will pay a certain percentage until you meet the yearly cap for out-of-pocket spending. Once you meet the limit, the Medigap policy plan pays 100% of Medicare-approved costs, such as the Medicare Part B co- coinsurance, and the Medicare Part A deductible for the rest of the calendar year.

Specifically included with Plan K benefits are Part A coinsurance and the 365 hospital days after your Medicare benefits are used up. Plan K covers 50 percent of your out-of-pocket costs for Part B co-insurance, hospice care, the Part A deductible, and skilled nursing facility services. Blood coverage is also covered at 50% after the first 3 pints.

Your Medicare Part B deductible is not covered. Also, charges from your doctor that exceed Medicare-approved amounts, called “Part B excess charges,” aren’t covered and don’t count toward the out-of-pocket limit. Also not included in this plan is emergency travel abroad coverage, so be aware of this when traveling. Benefits for home healthcare recovery are also not included in Plan K.

The maximum amount that you are responsible for paying yourself (out-of-pocket limit) for 2021 is $6,220 and can increase each year due to inflation.

Plan K could be a good option if you prefer a lower premium and also have low medical expenses but still want a fair amount of coverage for a wide variety of services.

Not all insurance carriers offer all of the Medicare Supplement Plans. It can also be difficult to determine which plan is right for you. Our licensed sales agents can help you find the plan that best fits your needs and budget. Most insurance carriers offer a variety of plans, so our licensed sales agents can help you shop around for the plan that best meets your needs.

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Originally posted on Dec 08, 2020 06:12:04

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The MedicareUSA website is operated by HealthPlanOne, LLC a licensed health insurance agency based in Connecticut; in California d/b/a HPOne Insurance Agency, license #OF30784. HealthPlanOne, is a licensed and certified representative of Medicare Advantage HMO, PPO and PFFS organizations and stand-alone prescription drug plans with a Medicare contract. Enrollment in any plan depends on contract renewal.

For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.

PLEASE NOTE: Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease.

The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent/producer or insurance company.

Medicare supplement plans are not connected with or endorsed by the U.S. Government or the federal Medicare program.

The Centers for Medicare and Medicaid Services (CMS) does not review or approve Medicare Supplement plan information.


Last Updated 01/13/2021