Plan K utilizes different cost-sharing for items and services than most of the supplement plans.

Medicare Supplements

Plan K

Instead of paying all of the costs, the plan will pay a certain percentage until you meet the yearly cap for out-of-pocket spending. Once you meet the limit, the Medigap Policy plan pays 100% of the Medicare-approved costs, such as the Medicare Part B co-insurance, and the Medicare Part A deductible for the rest of the calendar year.

Also, charges from your doctor that exceed Medicare-approved amounts, called “Part B excess charges,” aren’t covered and don’t count toward the out-of-pocket limit. The maximum amount that you are responsible for paying yourself (out-of-pocket limit) for 2019 is $5,560 and may change each year due to inflation. Plan K could be a good option if you prefer a lower premium and also have low medical expenses but still want a fair amount of coverage for a wide variety of services.

Specifically included with Plan K benefits are:

Part A coinsurance
The 365 days after your Medicare benefits are used up
The coinsurance for Part B services is covered 50%, as well as hospice care
The Part A deductible
Skilled Nursing Facilities
Blood coverage (first 3 pints)

Benefits not covered by Plan K are:

Medicare Part B deductible
Emergency Travel Abroad Coverage
Home health care recovery