Medicare Part A and Part B coverage (Original Medicare) can cover much of your doctor and hospital bills, but it doesn’t cover everything. Medicare Supplement Plan K is one of several Medicare Supplement Plans (also called Medigap), purchased through private insurance companies that helps pay for some of the expenses that your Original Medicare plan doesn’t cover.

About Medicare Supplement Plans

Medigap plans are standardized by the federal government. This means that plans of the same letter offer the same benefits, no matter who you buy it from. But keep in mind that insurance companies are allowed to offer additional benefits, so compare plans carefully before you purchase a policy.

There are 10 Medigap plan options, though not all plans are available in every state. But we are going to focus on Medicare Supplement Plan K.

What Does Medicare Supplement Plan K Cover?

Medicare Supplement Plan K covers a number of things that are not covered by Original Medicare. These include:*

  • Medicare Part A coinsurance
  • 50% of Medicare Part A deductible
  • Medicare Part A hospital costs up to an additional 365 days after Medicare benefits are used up
  • 50% of Medicare Part B coinsurance or copayment
  • 50% of the first three pints of blood for a medical procedure
  • 50% of hospice care coinsurance or copayment
  • 50% of skilled nursing facility care coinsurance
  • 80% of foreign travel emergency medical care

After you meet the 2021 out-of-pocket yearly limit of $6,220 (the most you’ll have to pay for covered services during a plan year) and your annual Part B deductible of $203, Medicare Supplement Plan K will pay 100% of covered services for the rest of the calendar year.1,2

How to Purchase Medicare Supplement Plan K

Since Medicare Supplement Plan K policies are offered by private insurance companies, prices and benefits vary based on your location and carrier. HealthMarkets can help you easily find the plan that best meets your needs. Best of all, there’s no cost to you for our services. Compare plans online now.

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References

1. U.S. Centers for Medicare & Medicaid Services. Retrieved from https://www.medicare.gov/supplements-other-insurance/how-to-compare-medigap-policies. Accessed June 16, 2021.
2. “Medicare costs at a glance.” Medicare.gov. Retrieved from https://www.medicare.gov/your-medicare-costs/medicare-costs-at-a-glance Accessed June 24, 2021.

*If you live in Massachusetts, Wisconsin, or Minnesota, your plan benefits may differ.

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