Medicare Supplement Plan L

Medicare Supplement Plan L is a private insurance plan that covers 100% of your Medicare Part A coinsurance responsibility, 75% of your Part B coinsurance, and 75% of a couple of other items. It also features an annual out-of-pocket maximum limit of $2,940 in 2020.

What is covered under Medicare Supplement Plan L?

Medigap Plan L covers 100% of the costs Medicare expects you to pay for: 

  • Medicare Part A coinsurance payments for inpatient hospital care for up to an additional 365 days after Medicare benefits are exhausted

It covers 75% of:

  • Medicare Part B copayment or coinsurance expenses
  • The first three pints of blood used in a medical procedure
  • Part A hospice care coinsurance expense or copayment
  • Skilled nursing facility coinsurance
  • Medicare Part A’s deductible

How does Plan L compare to other Medigap plans?

Some other Medigap plans cover the deductible of Medicare Part B. However, if you turned 65 after January 1, 2020, no plan that covers the deductible for Plan B is available to you. 

Some even cover excess charges doctors are allowed to charge for services covered by Part B.

However, few plans institute an out-of-pocket limit for your spending. So, if you plan on having lengthy hospital stays or big procedures this could be a great plan for you.

When can I enroll?

You can enroll once you have Medicare Part B. You will then have six months to enroll in a Medicare Supplement plan with no health questions. This is a one-time open enrollment in which you cannot be turned down for any health conditions, you cannot be asked any medical questions, and you cannot be charged an additional premium for health reasons. 

Technically, you can enroll at any time after you have Part B. However, if you sign up after your initial enrollment period, you will be subject to medical underwriting.

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