Learn more about Medicare Supplemental Insurance, which is part of the Medigap plan for supplemental health insurance policies that cover costs over the original Medicare program. The Medigap Plans K and L are two plans within the 12 standardized Federal Medicare programs that offer the Medicare participant cost savings. Plan K offers a cost sharing plan with purchase and deductible options for medical services. Plan L offers a method of cost savings, which can be beneficial particularly for Medicare participants with low medical expenses, both may reduce the monthly insurance premiums.
Medigap Plans K and L both offer coverage of medical services with the approved supplemental plans. Medicare Supplement Plan K shares the costs of services with the Medicare participant. Medicare Supplement Plan L offers a lower monthly premium payment when medical expenses are lower for the Medicare participant. Medigap Plans K and L both require that the participant pay out of pocket costs until an annual cap amount is reached. Medigap Plans K and L each have conditions for paying the full amount of approved services once the annual cap limits have been reached.
Learn more about Medicare Supplemental Insurance Medigap Plans K and L and how they use the out of pockets costs or deductible amounts to manage the Medicare participant medical costs, while maintaining coverage for a variety of medical services. Medigap Plans K and L plans both have services that are not covered under the supplemental insurance program. Under Medigap Plans K and L emergency travel abroad, home health care recovery, and deductibles for Part B are not covered. Excess charges that are not covered under the Medicare become the responsibility of the Medicare participant.