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Medigap Plan L: Medicare Supplement Insurance
By Donna Frederick
After retiring from a career as an executive travel counselor in 2006, Donna Frederick embarked on a second career as a licensed insurance agent. During that first year, many clients told Donna how ov ...erwhelmed they felt by Medicare, but that her assistance helped them finally understand the Medicare program. That experience inspired Donna to focus her efforts on educating her clients to ensure they fully understand their Medicare options. Today, Donna takes pride in providing outstanding customer service and going the extra mile to make sure each client knows all of their options and has a sound understanding of their Medicare plan, from costs to coverage and all points in between.Read more
May 23, 2020
|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|
|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%|
2021 Data – Table Source
What’s Medigap Plan L?
Medicare Supplement Plan L may be a good choice for those with low medical expenses, as it has an out-of-pocket limit. This gives enrollees the potential of a low monthly premium.
Plan L utilizes different divisions of cost for items and services than most of the supplement plans. You will have to pay some expenses yourself for some covered services until you meet the yearly cap. After you hit the yearly limit, your Plan L policy pays these expenses until the end of the year.
Benefits specifically included with Plan L include Part A co-insurance and expenses for 365 days after your hospital benefits end. It also covers Medicare Part B co-insurance at 75 percent for all services except preventive care. Also covered at 75 percent are skilled nursing facility services, hospice care co-insurance or co-payment, and the Medicare Part A deductible. Blood coverage is also covered at 75 percent after the first three pints.
There are services and benefits not covered under Plan L. The Part B deductible is not covered and any excess charges are also your responsibility. Emergency coverage for travel abroad is not included with this plan, so be aware of this when traveling. Recovery at home benefits are also not included in Plan L. The out-of-pocket limit, (amount that you are responsible for), in 2021 is $3,110 and may increase or vary from year to year.
Not all insurance carriers offer all Medigap Supplement Plans and it can be difficult to determine which plan is right for you. Most insurance carriers offer a variety of plans, so our licensed sales agents can help you shop around for the plan that will best fit your needs.
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