Medicare Supplement Quotes

Medigap Plan K

Written by Jason Patterson

It’s natural that our bodies start having more problems the older we get and we have to start seeing the doctor more often and need special treatment for health complications. The problem is that this extra medical attention can cost thousands and thousands of dollars every year.

Medicare is a great program that helps seniors way for those rising bills, but there is a lot to be desired in the Medicare coverage. If you’re looking to beef up your coverage and fill in some of the coverage that is left behind by Medicare, a Medigap plan is perfect for you. In this article, we will discuss the advantages of a Medigap plan, specifically Plan K.

Medicare supplement plan K is one of the less used Medicare supplement plans but can be useful for people who like how it approaches filling the gaps. Even though they are not the most popular, they can still be a good choice. You need to consider all of the possible Medigap plans out there.

medicare supplemental insurance plan k

What is Medicare Supplement and Why Consider Having It?

Medicare Supplement Insurance is a type of coverage that helps to fill in some of the costs that are not covered by Medicare Parts A and B. This can include the deductibles, coinsurance, and / or copayments. It can also include other services that aren’t covered by the Original Medicare program, such as foreign travel emergency expenses. This coverage is not offered by Medicare itself, but rather by private insurance companies.

When you’re shopping for supplemental protection, you need to compare all ten of the options. Plan A is the smallest, Plan F is the biggest, and there are 8 in-between.

Although Medicare Supplement Insurance plans must all offer the same identical benefits for plans of the same corresponding letter. Just because they have the same protection doesn’t mean they have the same prices.

This means that a Medicare Supplement Plan A that is sold by one insurer could have a drastically different premium than a Plan A that is offered through a different insurance carrier. With that in mind, it is important to shop and compare prior to making a plan purchase.

Medicare Supplement is not the same things as Medicare Advantage. Medicare Supplement Insurance is coverage that pays benefits for various services and expenses that are not covered by Original Medicare, whereas Medicare Advantage is an alternative form of receiving your actual Medicare benefits. Many  Medicare enrollees are very confused about the differences between the two.

Medicare Advantage is also referred to as Medicare Part C. Those who are enrolled in a Medicare Advantage plan cannot also have a Medicare Advantage plan. If you are currently enrolled in Medicare Advantage and wish to enroll in a Medicare Supplement plan, you must first switch back into Original Medicare (Medicare Part A and Part B).

What Do Medicare Supplement Insurance Plans Cover?

In addition to being familiar with the price of Medicare Supplement premium prices, it is also important to understand the actual benefits that are offered. The core set of benefit offerings that are provided in Medicare Supplement Plan A includes:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after the Medicare benefits have been used up;
  • Medicare Part B coinsurance or copayment;
  • Medicare Part B coinsurance or copayment;
  • Blood – the first three pints;
  • Medicare Part A hospice care coinsurance or copayment.

Certain plans will help enrollees to control out-of-pocket expenses. For example, Medigap Plan K provides:

  • Medicare Part A coinsurance and hospital costs – up to an additional 365 days after Medicare benefits have been used up;
  • 50 percent of Medicare Part B coinsurance or copayment;
  • 50 percent of the first three pints of blood;
  • 50 percent of the Medicare Part A hospice care coinsurance or copayment;
  • 50 percent of the skilled nursing facility care coinsurance;
  • 50 percent of the Medicare Part A deductible.

With Medigap Plan K, the enrollee has an out-of-pocket limit (in 2015) of $4,940. This means that if the enrollee has a serious illness or injury, he or she will have the protection of an annual out-of-pocket limit on the dollar amount that is spent on their care. Once this limit, or “cap,” has been met, then Medigap Plan K will begin to pay 100 percent of the Medicare-approved expenses for the remainder of that year.

Good candidates for Medicare Supplement Plan K would be those who prefer to have a lower premium amount, yet who still want to attain a good amount of coverage and a wide array of services. Plan K gives you plenty of additional coverage without paying the premium prices for a more inclusive plan. Depending on your health and financial status, it could be the perfect plan for you.

This is in contrast to other Medicare Supplement Insurance options such as Medigap Plan F, which offers many benefit options:

  • Skilled nursing facility care coinsurance
  • Medicare Part A deductible
  • Medicare Part B deductible
  • Medicare Part B excess charges
  • 80 percent for foreign travel exchange – up to the plan’s limits

Another option would be to purchase Medicare supplement plan G.  This plan covers everything in Plan F except for the Part B deductible of $147.  Frequently Plan G can be $20 or more per month less than Plan F so you save money even after paying out that initial deductible.

When To Enroll In A Medicare Supplement Insurance Plan

Knowing when to enroll in a Medicare Supplement Insurance plan is important, as doing so at the right – or the wrong – time may have various implications for an individual. The open enrollment period is a six month opportunity every applicant should take advantage of.

If a person enrolls in a Medicare Supplement Insurance plan at this time, he or she cannot be denied coverage even if they have an adverse health condition. However, if they wait until after their open enrollment period has ended, they could be charged a higher premium, or even of being denied for the coverage that they want.

Deciding which plan to buy can be long and complicated process, but there are a few things that you should consider before you pick one. First, is your health. Do you have things your doctor has been nagging you about for the last decade or so? What about your family history, is there a trend of healthy family members that live into their 100s or does your family have a history of health complications.

The other contributing factor is your finances. Make sure you can afford any of the policies you’re considering.

How and Where to Get the Best Premium Quotes for Medigap Plan K Coverage


For some people, traditional Medicare is the only protection they need. But there are a lot of people who want more coverage than that.

This is where these Medigap policies come in. Buying coverage can be a long journey, but you need to ensure you will have the healthcare protection you deserve.

Sure, you could call a dozen companies to ask about their Plan K, or you can let us bring all of the information straight to you. We are independent brokers.

We work with a dozen different carriers, which  means we can bring you a bunch of quotes in a matter of minutes. Why do it yourself when you can have experts do if for you.

About us
About us

Jason Patterson has been in the insurance industry for over fifteen years. Starting in 2005, he became one of the first agents to sell medicare supplements online. From that small start, he grew an agency that helped thousands of people with their insurance needs in all fifty states.

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