Medigap Plans K and N

If you’re looking for a less expensive alternative to the popular Medicare supplement Plan F or Plan G, there are two supplement plans, Medigap Plans K and N, that may be what you’re looking for.

Medicare Supplement Plan K and Medicare Supplement Plan N, both introduced in 2010, provide good coverage at a significantly lower cost that than Plans F and G. Here’s some information about Medicare Supplement Plans K and N.

Both cover:

Hospital Expenses: Medicare Part A deductible
Medical Expenses: Medicare Part B coinsurance (generally 20% of Medicare-approved expenses) or copayments for hospital outpatient services.
Blood: First 3 pints of blood each year.
Hospice Care: Medicare Part A coinsurance.
Skilled Nursing Facility Care: Coinsurance

Unlike Plan N and most other Medicare supplement insurance plans, Plan K covers 50% of the benefits listed above.

However, your annual out-of-pocket expenditures are limited to $4,660 for Medicare-approved services. Once you reach the annual $4,660 limit for out-of-pocket limit expenses, Plan K pays 100% of the cost of covered services for the rest of the calendar year.

Plan K offers 100% coverage for Medicare Part A coinsurance hospital costs up to an additional 365 days after Medicare benefits end. Plan K also offers full coverage for Medicare preventive care Part B coinsurance.

Plan N covers 100% of the benefits listed above. However, Plan N requires you to pay a portion of Medicare Part B coinsurance or copayments. Under Plan N you’ll be required to pay up to a $20 copayment for an office visit and a $50 copayment for emergency room visit.

In addition to these benefits, Plan N covers emergency care during travel abroad. This service comes with a $250 deductible and a $50,000 lifetime limit.

It’s true that Medigap Plans F and G are your best line of defense against Medicare Part B excess charges, or charges by your doctor or provider that exceed what Medicare will pay. Plans F and G will keep your out-of-pocket expenses low, and if that’s your number one priority, chances are Plan F or G is right for you. But if you’re in generally good health and looking for an alternative with significantly lower premiums and generally good coverage, you’ll definitely want to look into Plans K and N. Either of these plans may be ideal if you’re on a fixed income. Another consideration is that underwriting requirements for these plans tend to be more relaxed than for other Medicare supplement plans. This means that a preexisting condition making it difficult for you to be accepted into another plan may not prevent you from being able to enroll in Plan K or Plan N.

If you’d like more information about Medigap Plan K or Plan N, or about any other aspect of Medicare or senior health insurance, we’re eager to hear from you. Medicare supplement insurance plans can provide you the comfort of knowing you won’t be burdened by the Medicare gaps left by Medicare Part A and Medicare Part B. But it’s important to compare Medigap plans and rates to make sure you find the policy that’s best for you. MedicareMall is the expert at shopping the market on your behalf by investigating all the options offered by leading Medicare supplement insurance companies, and we’re ready to find the Medicare supplement plan that’s best for you.

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