Medigap Plan L
Medicare Supplement Insurance plans, also known as Medigap plans, help pay the out-of-pocket costs that remain after Original Medicare plans pay their approved portion of your health care costs. There are currently ten plans available, each offering a specific arrangement of valuable benefits. Some plans, like Plan L, are cost-sharing plans, which require members to pay a portion of costs covered by the Medigap plan. This is what you can expect from Medigap Plan L.
Medigap Plan L Benefits
When you enroll in a cost-sharing based Medigap plan, you will have to pay a portion of the costs associated with any Medicare-approved services. With Plan L, you only need to pay 25% of these costs. Here are the benefits included in Medigap Plan L:
- 100% coverage of Medicare Part A coinsurance and hospital costs for up to 365 days after your Medicare benefits run out.
- 75% of Medicare Part A hospice care coinsurance and copayments
- 75% coverage of Medicare Part A deductible
- 75% coverage of Medicare Part B coinsurance and copayments
- Medicare Part B excess charges
- 75% coverage of skilled nursing facility care coinsurance
- 75% coverage for blood to be used in a medical procedure, up to 3 pints.
Keep in mind that Plan L does not pay any out-of-pocket costs associated with your Part B deductible or excess charges. It will also not pay for foreign travel health emergencies. These costs must be covered directly by you.
Medigap Plan L Costs
Medigap Plan L and Medigap Plan K are both cost-sharing plans, but Plan L offers significantly more coverage. Therefore, Plan L is more expensive than Plan K. Because Medigap plans are provided by private insurance companies, there are no standardized rates. Though, as a general estimate, you can expect to pay somewhere between $100 and $200 for Medigap Plan L.