Medicare Supplement Plan K and Plan L
Save time and money when you shop online. Prices quoted on our site include a 6% discount on your monthly premium when you enroll online. (Discount not available in CA, CT and OH.)
A lower premium for less coverage, but out-of-pocket maximums limit the amount you may have to pay per year.
Plans K and L offer the same basic benefits as other Medicare Supplement insurance plans, all with a lower monthly premium. In exchange for a lower premium, these cost-sharing plans cover less of the coinsurance and copayments than other Medicare Supplement insurance plans, but you’ll have the added security of a maximum out-of-pocket cost every year.
What does Medicare Plans K and L cover?
Medicare Supplement Plan K
Medicare Supplement Plan K covers services similar to other Medicare Supplement insurance policies. However, instead of paying all of your costs, the plan pays a percentage. If you have a serious illness or injury, you have the protection of an out-of-pocket annual limit. Once you reach this “cap” on your out-of-pocket costs, the plan pays 100% of Medicare-approved costs for the rest of the year. This plan is a good option if you prefer a lower premium but still want a fair amount of coverage for a variety of services.
In general, Plan K offers a lower monthly premium than Plan L, but offers higher coinsurance amounts and a higher annual out-of-pocket limit.
Medicare Supplement Plan L
This plan is similar to Plan K, except it covers a higher percentage of your costs, offers a lower annual out-of-pocket amount and out-of-pocket limit, but has a slightly higher monthly premium.
How does Medicare Plans K and L work?
Medicare Supplement Plan K coverage provides:
- 100% coverage for Part A hospitalization coinsurance plus coverage for 365 days after Medicare benefits end
- 50% hospice coverage for Part A coinsurance
- 50% of Medicare-eligible expenses for the first 3 pints of blood
- 50% Part B coinsurance, except for preventive care services, which are covered 100%
In addition to these basic benefits, Plan K also provides:
- 50% coverage for Skilled Nursing Facility coinsurance
- 50% coverage for your Medicare Part A deductibles
- $6,620 out-of-pocket annual limit for 2022 (the out-of-pocket annual limit will increase each year for inflation)
Medicare Supplement Plan L coverage provides:
- 100% coverage for Part A hospitalization coinsurance, plus coverage for 365 days after Medicare benefits end
- 75% hospice coverage for Part A coinsurance
- 75% of Medicare-eligible expenses for the first 3 pints of blood
- 75% Part B coinsurance, except for preventive care services, which are covered 100%
In addition to the basic benefits, Plan L also provides:
- 75% coverage for skilled nursing facility coinsurance
- 75% coverage for your Medicare Part A deductibles
- $2,940 out-of-pocket annual limit in 2022 (the out-of-pocket annual limit will increase each year for inflation)