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Medicare Plan K - Medigap Plan K
Medicare Plan K is one of the eleven Medicare Modernization Plans and consistent as a standardized plan approved by the Center for Medicare and Medicaid Services.
Plan K covers 100% of all the plan basic services found in Plan A. However, benefits in addition to basic services the plan pays 50% of Hospital Medicare Part A deductible as well as 50% of the Skilled Nursing benefit up to a maximum out-of pocket limit of $4,620 is reached in a calendar year. When this limit is reached all approved expenses are covered at 100%.
Medicare Plan K Coverage Includes all of Plan A as follows:
- Maximum Combined Out-of Pocket limit of $4620
- 100% Medicare Part A Co-insurance for Hospitals
- 100% on all preventative care services
- 50% on all other Basic services
Additional Benefits:
- 50% of Part A Hospital Deductible
- 50% Skilled Nursing Facility Co-Insurance
Medicare beneficiaries who choose this type of plan understand that their responsibility in any given year could be as high as $4620. Carrying a larger out of pocket maximum of $4620 does provide a substantial discount in your annual and monthly premium. However, if a beneficiary becomes ill and does not have resources to sustain this level of out of pocket expenses it can cause severe consequences to their financial viability.
To learn more about Plan K in your immediate area, please fill out the above form and quotes will be provide for you based on your state and county of residence.
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