MEDIGAP PLAN L


Medigap Plan L not only covers a percentage of your out-of-pocket expenses left over by Original Medicare, but it also features an annual out-of-pocket maximum limit of $2,780 (in 2019). Plan L is only one of two Medicare Supplement insurance policies that feature this out-of-pocket limit. Because of this popular feature and lower premiums, it may be worth the extra cost-sharing for Medicare beneficiaries.

MEDICARE SUPPLEMENT CONSULTATION


WHAT DOES MEDIGAP PLAN L COVER?

Along with the out-of-pocket maximum ($2,780 in 2019), Medicare Supplement Plan L also features 75% coverage of these benefits:

  • Medicare Part B coinsurance or copayment

  • Part A hospice care coinsurance or copayment

  • Medicare Part A deductible

  • First three pints of blood used in a medical procedure

  • Skilled nursing facility care coinsurance

It also covers 100% of Medicare Part A coinsurance and hospital costs up to one year after Original Medicare benefits are used up. Because of the portion of cost-sharing, Medigap Plan L policies have lower premiums than other supplement plans, like Plan F, that cover all leftover costs by Original Medicare.

MEDICARE SUPPLEMENT CONSULTATION


MEDICARE SUPPLEMENT PLAN L OUT-OF-POCKET COSTS

Under Plan L, you’ll pay some out-of-pocket costs associated with Medicare. These costs could be:

  • Medicare Part B deductible

  • Medicare Part B excess charges

  • Foreign travel emergency

You’ll also pay 25% of your Original Medicare coinsurance or copayment costs, any skilled nursing facility coinsurance, Part A’s deductible, and the first three pints of blood for a medical procedure. Because of this cost-sharing, you’ll pay lower premiums.

FREE MEDIGAP HELP

MEDIGAP PLAN L OUT-OF-POCKET MAXIMUM CAP PROTECTION

Even though you do have some out-of-pocket expenses with Medicare Supplement Plan L, there is a maximum cap. Medicare sets this limit annually. In 2019, this limit is $2,780. After you hit this limit, the Medicare Supplement insurance plan has to pay 100% of your Medicare-related costs for the remainder of the year. So, if covering some of your out-of-pocket Medicare expenses while still enjoying a lower premium sounds great to you, a licensed Medicare agent with Speir Agency will be happy to help you.

MEDICARE SUPPLEMENT PLAN L QUOTES

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