Medigap Plan L
Medigap Plan L is a part of a Medicare Supplement Insurance plan (Medigap) which can help you cover the costs that aren’t under Original Medicare (Part A and Part B). Even though Original Medicare covers most costs, Medicare Supplement Plan L can help you cover other remaining costs like coinsurance, deductibles, and copayments.
Medigap Plan L offers you more benefits than Original Medicare alone at a low monthly premium cost and it is available in all federal states.
With this plan, you can visit any doctor and a hospital that accepts Original Medicare. However, you also need to be enrolled in Original Medicare if you want to choose any of the Medicare Supplement Plans, including plan L. Also, with this plan, you don’t need a referral to see a specialist.
What does Medigap Plan L cover?
Medigap plan L covers 75% out-of-pocket limit cost left behind by Original Medicare alongside the annual maximum out-of-pocket limit which is 3310$ as of January 2022 (this amount is subject to change every year).
Other benefits that are covered under Medigap Plan L:
- 100% coverage for Medicare Part B preventive care
- 100% coverage for Medicare Part A coinsurance
- 100% coverage for 365 days of hospital stays (when Original Medicare benefits dry out)
- 75% for Medicare Part B copays or coinsurance
- 75% covers for first three prints of blood
- 75% of medicare part A coinsurance for hospice care
- 75% coverage of coinsurance for skilled nursing facilities
- 75% coverage for Medicare Part A deductible
What does Medigap Plan L doesn’t cover?
This plan doesn’t cover these benefits:
- Medicare Part B deductible ( you must pay for it before you choose this plan and the amount is 223$)
- Medicare Part B excess charges
- Foreign Travel Emergency
- Prescription drug coverage
However, this plan covers 75% of the cost Original Medicare leaves behind so you’ll need to pay for 25% of the remaining costs and you also need to pay in full for those expenses that aren’t under Medigap plan L coverage.
What are the costs of Medigap plan L?
If you choose Medicare Supplement Plan L your average cost will be between 80$ and 180$ per month.
Factors that can affect the amount of the cost:
- Living area (your costs of living)
So the best way to find out what your exact amount of cost will be per month is to talk to a licensed Medicare agent in BP Insurance Group.
However, this plan has a maximum out-of-pocket limit of 3310$. This means that this plan covers all additional costs for the rest of the year after you reach it.
For example, if you need hospice care and you reach the maximum amount with this plan your expenses will be paid in full by your Medigap plan. Of course, that is only valid if a provider accepts Original Medicare because as is already mentioned, Supplement Plans will cover additional costs only if you’re already enrolled in Original Medicare.
How can I get Medicare Plan L?
The best time for you to enroll is during the Medigap Open Enrollment Period which lasts six months. This enrollment period begins the first month that you are over 65 and already enrolled in Medicare Part B.
During these 6 months, you can enroll in any Supplement plan you choose if it is available in your living area and if you are already enrolled in Medicare Part A and Part B.
Finding a Medigap plan that is right for you can be hard, so the best way to choose a plan which is within your budget and based on your healthcare needs it’s to consult with our licensed Medicare insurance agent at BP Insurance Group.