Medigap Plan K offers you the same basic benefits as other supplements, but with lower premiums. Plan K is also a cost-sharing plan, meaning your plan will cover part of some costs while you are responsible for the other half.
Medicare Plan K also includes a cap on your spending called an out-of-pocket maximum. For instance, let’s say you have a year with a lot of medical treatments. If your out-of-pocket spending reaches the maximum limit, then your Medigap K policy will kick in to pay all of the rest for that year. The out-of-pocket maximum for 2023 was $6,940, but for 2024 it is $7,060.
While Medigap Plan K is a good option for some, it may not be the right option for others. To learn more about Plan K and whether or not it’s a good fit for your coverage and budget needs, give us a call today.
Basic Benefits 100% | Basic Benefits 100% | Basic Benefits 100% | Basic Benefits 100% | Basic Benefits 100% | Basic Benefits 100% | Hospitalization and preventative care paid at 100%. Other basic benefits at 50%. | Hospitalization and preventative care paid at 100%. Other basic benefits at 75%. | Basic Benefits including 100% Part B Coinsurance | Basic Benefits including 100% Part B Coinsurance except up to $20 copayment for office visit and up to $50 copayment for ER |
Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | Skilled Nursing Facility Coinsurance | ||
100% Part A Deductible | 100% Part A Deductible | 100% Part A Deductible | 100% Part A Deductible | 100% Part A Deductible | 50% Part A Deductible | 75% Part A Deductible | 50% Part A Deductible | 100% Part A Deductible | |
100% Part B Deductible | 100% Part B Deductible | ||||||||
Part B Excess 100% | Part B Excess 100% | ||||||||
80% Foreign Travel Emergency | 80% Foreign Travel Emergency | 80% Foreign Travel Emergency | 80% Foreign Travel Emergency | 80% Foreign Travel Emergency | 80% Foreign Travel Emergency | ||||
Out-of-pocket limit of $7,220; Plan pays 100% of covered services after limit reached. | Out-of-pocket limit of $3,530; Plan pays 100% of covered services after limit reached. |
Basic Benefits:
Part A Deductible for 2025 is $1,676 per each benefit period.
Skilled Nursing Coinsurance for 2025 (days 21-100) is $209.50 per day of each benefit period.
Part B Deductible for 2025 is $257.
There is no charge to clients for our services. We would be honored to help walk you through this process!