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Medicare Supplement Plan L

Medicare Supplement Plan L is another Medicare Supplement insurance option that usually has fairly modest premiums but requires some cost sharing. It might be a good option for beneficiaries who want to pay fairly modest premiums and still enjoy the broad coverage. Plan K, L, and Medicare Plan N are the three Medicare Supplement plan levels that exchange lower rates for more cost sharing. Both supplement levels K and Medicare Supplement Plan L have out-of-pocket yearly maximums to keep policy owners from having catastrophic medical bills.

We can help you compare Medicare Supplement Plan L rates with our quick online quote forms. To get started, enter your zip code in the box to get started.

Why Consider Medicare Supplement Plan L?

These cost-sharing levels might be compared to popular Medicare Advantage plans. While Advantage plans replace Original Medicare Part A & Part B, Medicare Supplements are used with Original Medicare to help pay some costs that it either doesn’t pay at all or fully pay. Still, both Medicare Advantage and Medicare Supplement Plan L impose some cost sharing to sell for lower prices than the most robust Medicare Supplement plans.

One big difference between these two different kinds of Medicare insurance is that most MA plans control an HMO or PPO medical network while Medicare Supplement plans do not lock policy owners into networks at all. That may give Medicare beneficiaries more choices of doctors and other medical providers.

Plan K is similar to Medicare Supplement Plan L, another cost-sharing option. These are the main differences between these two Medicare Supplement plan levels:

  • Plan L covers higher percentages of bills.
  • Plan L usually has a somewhat higher monthly premium.
  • Plan L has a lower out-of-pocket yearly limit.

There is an out-of-pocket limit for Plan L and Plan K, but Plan K is higher. These are the only two Medicare Supplement plan levels that have yearly out-of-pocket maximum limits.

A Quick Comparison of Medicare Supplement Plan L Prices

Private health insurance companies market supplements, but they all have to provide coverage for each plan level that conforms to Medicare guidelines. Even though benefits for a Medicare Supplement Plan L will be the same no matter which company it is purchased from, prices can vary dramatically. These are some of the top national Medicare Supplement insurance companies that market Medicare health plans:

To help with your plan comparison, these are examples of monthly rates from some of these competitive insurers offering Medicare Supplement Plan L in major markets in selected states. The quotes are for a man who is 65 and doesn’t smoke:

Note: These quotes are just examples that were pulled at the time of publication, and your own quotes will be different.

Of course, your price quotes could vary because of your age, your exact ZIP code within a state and, in some circumstances, medical underwriting. Since Medicare Supplement insurance companies can determine how much they will charge for each level of coverage, it is also important to compare companies to find the best one in your own town or city.

We have tried to make comparing Medicare Supplement Plan L quotes as simple as possible by providing an easy quote form. Just enter your zip code in the quote box to get started. Of course, you are also welcome to call our toll-free number if you need additional help.

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