Medigap Plan K covers some benefits in full and others at 50%. It covers the Part A coinsurance, foreign travel emergencies, and the Part B coinsurance for preventive services at 100%.
Plan K does not cover the Part B deductible or the Part B excess charges. However, Part B excess charges are not common and if you live in a state that does not allow them, this is not an issue.
Individual premiums will vary based on which state the individual is seeking coverage in, which carrier they’re purchasing from, and also individual factors like gender, age, tobacco use, and a few other details. The average cost for Plan K ranges from $40-$100 each month. In general, Plan K premiums are higher in states who have a higher cost of living.
Plan L and Plan M are two cost-sharing plans that may be a good alternative to Plan K. They both offer more coverage and have less cost-sharing requirements, but the monthly premiums for both are typically higher than the Plan K premiums. Individuals will need to decide which factor is more important to them.
There is a lot of information about each plan online, but to get an accurate quote, you’ll need to enlist the help of a licensed Medicare agent. Instead of calling each insurance carrier to get a quote, we can compare premiums across many different carriers, ensuring that you enroll with one that gives you the best rate.
We’ll need to collect some information from you in order to provide quotes since your premium is based on your information and health history, but our services come at no additional cost to you! If you choose to enroll in a Medigap plan through our agency, we also offer unlimited support. If you have problems with your coverage or have questions about how your plan works, we will be here to help.