Medicare Supplement Plan K
Plan K is a standardized Medigap policy with partial coverage for several cost-sharing benefits and a yearly out-of-pocket limit.
Cost-sharing stylePartial coverage for several benefits
ProtectionIncludes a yearly out-of-pocket limit
Drug coverageNot included
How Plan K works
- Covers Part A coinsurance and additional hospital costs according to standardized benefits.
- Pays 50% of several covered cost-sharing benefits, with the beneficiary responsible for the remainder.
- After the yearly out-of-pocket limit and Part B deductible are met, the policy pays 100% of covered services for the rest of the year.
Who may consider it
- People looking for a lower-premium Medigap option and willing to share more costs.
- People who value a defined yearly limit on covered out-of-pocket costs.
- People comfortable paying the Part B deductible and other uncovered costs.
Before buying
- Confirm the current yearly out-of-pocket limit.
- Compare premiums and rate-increase history.
- Review state availability and underwriting rules.
Important: The Plan K out-of-pocket limit changes over time. Verify the current amount on Medicare.gov.
For complete and current information, review Medicare.gov and official plan documents.