Medicare Supplement Plan K
Medicare Supplemental Plan K offers coverage for services and is similar to other Medicare Supplemental insurance policies. But this plan pays a percentage of your costs – not all of them. With Plan K you have an out-of-pocket annual limit, which is protection in the event of a serious illness or injury.
When you reach this “cap” on out-of-pocket costs, Plan K will pay 100% of your Medicare-approved costs for the remainder of the year. If you’re looking for a lower premium but you still want a broad scope of coverage for a variety of services, this is a good plan.
Medicare Supplement Plan K Coverage includes:
* 100% coverage for Part A hospitalization co-insurance, as well as 365 days of coverage when Medicare benefits cease
* 50% of hospice out-of-pocket sharing of costs
* 50% of Medicare-eligible costs for the first three pints of blood used in that year
* 50% Part B co-insurance: does not apply to preventive care services, which get 100% coverage
* 50% coverage for co-insurance at a skilled nursing facility
* 50% coverage for deductibles of Medicare Part A
* $4,620 out-of-pocket annual limit. This limit will increase every year, to account for inflation.
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