Medigap Plan K Benefits

Medigap plan K takes a very different approach when compared to the majority of the available Medicare supplement plans. To understand if plan K is the right choice for keep reading to get a good idea of the way the plan works.

Medigap Plan K Coverage


With coverage very similar to plan L, Medigap plan K is one of the two Medicare supplements that takes a coinsurance and deductible method to helping you fill the coverage gaps of Medicare Part A and Part B. This means that, unlike Medicare supplement plan F, you pay for a percentage of the charges until you reach an out of pocket maximum. To get a better feeling for how this plan works let’s look at an example:

Jane Doe gets sick and has to be admitted to the hospital. Jane would be responsible for the 50% of the Medicare Part A deductible of $1,156. If Jane had to receive blood while in the hospital she would also be responsible for 50% of the charges. This 50% will continue to be charged for these two items, as well as skilled nursing care, hospice care, and the Medicare Part B copayment until Jane has paid $4,640 out of her pocket. Once she reaches that threshold, Jane will not have to pay anything else out of pocket for the above categories for the rest of the year.

As you can see this varies quite significantly from the most popular Medicare supplement plan F and plan G which cover more of the gaps and do not have the out of pocket limit. The advantage to Medigap plan K is that it can be significantly less expensive.

Medigap Plan K Expenses


The premiums for all Medicare supplement plans are determined by the details of the individual. An insurance company will take into account the age, health, location, and gender of a person when determining their premiums. This is pretty standard across the different types of health and life insurance. One nice feature of the Medicare supplement plans is that whatever letter plan you are looking at, no matter which company you choose, is exactly the same coverage. So if you are looking at an AARP plan K or a Medigap plan K from another company the coverage will be the same and only the price of the premium will differ. The easiest way to determine what the cost will be for you is to get a set of Medigap quotes. You can get a set of quotes by filling out the form on the side of this page.

ChoosingAMedigap.com is here to help you with your Medigap decision. So whether you choose to go with Medigap plan K or one of the other plans we are honored that you have chosen to use our information to help you. If you have any questions or if there is any way we can serve you please let us know.