Medigap Plan L
What is Medigap Plan L and how does it work?
This Medigap plan pays for part of your Original Medicare expenses gaps. It covers all your Medicare Part A hospital and coinsurance expenses for up to an additional 365 days after your Medicare benefits are depleted.
Medicare Supplement Plan L comes with a $3,110 out-of-pocket maximum. This means that you will have to spend money amounting to that maximum limit out of your pocket to cover your gaps in Original Medicare coverage before Medigap can take over all payments for the rest of the year. As a result, Medigap Plan L has comparatively low premiums than its counterparts.
What does Medigap Plan L cover?
Moreover, Medigap Part K covers 75% of the following costs:
- Medicare Part A hospice care coinsurance and copayments.
- Medicare Part A deductibles
- Medicare Part B copayments or coinsurances
- The first three pints of blood during medical procedures
- Skilled nursing healthcare facility coinsurance
Medigap Plan K does not cover:
- Foreign travel healthcare emergency coverage
- Medicare Part B deductible
- Medicare Part B excess costs
Your out-of-pocket costs, as a result, will include the remaining 25% of your Medicare Supplement Plan L costs and the remaining Medicare healthcare expenses it does not cover.
Need help comparing Medigap plan L coverage?
At Your Life Agency, we understand how difficult it is to compare Medigap premiums, especially because its plans are standardized. Our experienced Medicare insurance brokers will help you find compare Medigap plans and find the best premiums to suit your budget.