Medigap K plan is prepared slightly unlike than the majority of the Medigap plans.
Instead of providing the maximum amount of benefits, it focuses instead on reducing
your annual deductible. After you meet your out-of-pocket annual limit and your annual
Part B deductible, the policies are designed to pay 100% of covered services for
the rest of the year.
Medigap Policy K is designed specifically to help people who need additional hospital,
hospice and skilled nursing services. In addition to providing all of the services
that Medicare Part A offers which consists of 100% hospital coinsurance costs, Medigap
Policy K offers 50% co-pay for a variety of other services.
Medigap Plan K covers:
• Medicare Part A Coinsurance, and all costs after hospital benefits are exhausted
• 50% of Medicare Part B Coinsurance or Copayment for other than preventative services
• 50% of Blood (first 3 pints). Medicare typically covers all costs associated with
blood after the first 3 pints.
• Medicare Preventative Care Part B Coinsurance
In addition, it also covers:
• 50% of Hospice Care Coinsurance or Copayment
• 50% Skilled Nursing Facility Care Coinsurance
• 50% of Medicare Part A Deductible
Medigap Plan K doesn’t cover preventive Care not Covered by Medicare, At-home Recovery
(Up to Plan Limits), Foreign Travel Emergency up to plan limits, Medicare Part B
Excess Charges and Medicare Part B Deductible.
The most attractive part of this medigap policy, however, is that you will never
have to pay a cost over $4620 on medical expenses in a single year. All costs above
this amount are paid in full, no questions asked, when you buy this medigap policy.