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Medicare Supplement Plan K | Medigap Plan K | Coverage & Details
Medicare Supplement Plan K
Medicare Supplement Plan K is one of the few Medicare Supplemental Policies that offers a higher cost-sharing structure on covered benefits. With Medigap Plan K you are required to pay 50% of the Medicare Part A hospital deductible, as well as 50% for skilled nursing facility services after 20 days, and 50% for the blood benefit. Many other Medigap Plans will pay these things at 100%, although those plans will typically cost more due to the increased coverage level.
Individuals willing to take the risk with less coverage can sometimes enjoy a lower premium. One thing you need to watch out for, however, is that the cost between Medicare Supplement Plan K and many of the other more comprehensive Medicare Supplement Plans, is very minimal. Many times the Plan K will not make the most sense when you are able to purchase a plan with a far greater amount of coverage for maybe $10 - $20 more per month.
In any event, when you are shopping around for Medicare Supplement Plan K, it is equally important to get quotes from multiple insurance companies, and compare apples to apples. Medicare Supplemental Plan K is designed by Medicare, therefore will have the same coverage and benefits no matter which insurance company you compare it with--the only difference between companies is what they charge.
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