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Medicare Supplement Plan K Rates, Benefits & Coverage

Medicare Supplement Plan K is one of the newer Medicare Supplement plan levels. It offers essential benefits like all other Medicare Supplements, but it shares more of the costs with Medicare recipients and usually can be purchased for a relatively modest premium. In fact, in most parts of the country, only the high-deductible version of Medicare Plan F is cheaper. Other comparable cost-sharing options are Plan L and N.

To find the best Medicare Supplement Plan K rates or another kind of Medicare Supplement plan, all you need to do is enter your zip code in the box on this page to begin.

Why Choose Medicare Supplement Plan K?

Some beneficiaries might make a choice between one of the cheaper HMO, PPO MA plans or Medicare Supplement Plan K. This is understandable because both impose some cost sharing in return for lower premiums and have a yearly maximum out-of-pocket limit. As a note, Medicare Supplement plans help pay for things Original Medicare Part A & Part B don’t cover. MA plans, on the other hand, replace original Medicare with coverage that is supposed to be as good or better.

However, HMOs and PPOs all require members to get the most covered services from within a network, and Medicare Supplement Plan K does not use networks at all. The biggest difference could be the freedom to pick medical providers all over the United States without worrying about which doctors and hospitals belong to a certain plan network.

Even though many covered services are only covered at 50 percent on Medicare Plan K, there is a yearly out-of-pocket limit of $4,940 for 2015. After that limit has been reached, the Medicare Supplement plan will pay all covered expenses at 100 percent. This can help seniors find lower prices and stay protected from financial catastrophe.

Medicare Supplement Plan K before the out-of-pocket maximum has been reached:

  • One hundred percent coverage for part A hospital coinsurance and additional hospital days after Medicare limits have been used up
  • Fifty percent coverage for part A hospice coinsurance and the first three pints of blood
  • Fifty percent coverage for part B coinsurance with the exception of preventative services, covered at 100 percent
  • Fifty percent coverage for part A skilled nursing and part A deductibles

Medicare Supplement Plan K Rates & Premiums

Every Medigap plan level has to conform to benefits laid out by the government. However, the insurance companies that market these plans can set their own prices. To help your comparison of different plan levels, these are some example monthly prices for a man who is turning 65, does not use tobacco and lives in a large city in these states:

Note: These prices are only examples, and your own personal quotes are likely to vary because of your age and ZIP code.  Also, some instances may require medical underwriting. These Medicare Plan K rates were culled at the time of publication from competitive, national Medicare Supplement companies that include:

Compare Medicare Supplement Plan K Rates Online

Because prices can vary by local area and insurance company, you should always compare different local insurers to find the best choice. All you need to do is enter your zip code in the quote box to begin. You are welcome to call us for details as well!

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