Consult DreamHealthQuotes to learn more about Medicare Supplement Plan K.

In order to assist you save time and money on the necessary benefits, DreamhealthQuotes can compare Medigap policies.

PLan K

Medicare Supplement Plan K: A brief description

Some of the out-of-pocket expenses that you would typically have to pay with Original Medicare Parts A and B are covered by Medicare Supplement Insurance, also known as Medigap. Medicare Supplement Plans K (also known as Medigap Plan K) may be a smart choice for people with a limited budget and good health. One of the eight standardized Medicare Supplement Insurance plans that can be purchased in the majority of states is Plan K. Massachusetts, Minnesota, and Wisconsin all have standardized Medigap plans of their own.


Medicare Supplement Plan K - Coverage 

Since Medicare Supplement Plan K only covers a portion of your medical costs (coinsurance and copayments), its premiums are lower. Although the percentage of coverage is less than that of other Supplement Plans, the premium expenses should be less than those of other Medigap plans that cover more benefits or a larger percentage of costs.



Hospital Cost Covered

Up to 365 days after the use of Original Medicare benefits, pays Part A coinsurance and hospital expenses.

Medical Costs

Pays 50% of the Part B coinsurance or copayment, with the exception of preventative care, which is fully covered


For the first three pints of blood, 50% of Medicare-eligible costs are covered by transfusions.

Hospice Care

Covers the Part A coinsurance or copayment to the extent that it is applicable.

In-Facility Care Coinsurance

Skilled Nursing: 50%.

Additional Inpatient Expenses

Pays 50% of the Medicare Part A deductibles that you may incur during additional hospitalization.



Medicare Part B Deductible

In 2023, the Part B deductible will be $226. For the majority of doctor services, outpatient therapy, and durable medical equipment, you pay 20% of the Medicare-Approved Amount (the amount a doctor or supplier who accepts assignment can be paid in Original Medicare) after the deductible is reached.

Part B Excess Charges

Providers who refuse to accept Medicare assignment may do so by charging up to 15% more than what Medicare will actually pay. The Medicare-approved price for a certain medical service is known as the Medicare assignment. Medicare-approved providers will accept a Medicare assignment.

Travel Emergency

Emergency medical care while traveling outside of the United States is typically not covered by Medicare.

Who is best suited to this supplement plan?

If you want a reduced premium but still want the assurance that you have a reasonable amount of coverage for a variety of medical services in the event of unanticipated medical emergency, or if you have a chronic health condition that necessitates a lot of continuing medical treatment, you might think about Plan K.

Medicare Plan K - Pros

Medicare Plan K – Cons

Costs Associated with Medicare Supplement Plan K

The commercial insurance providers who provide Medicare Supplement Insurance establish the monthly premiums depending on a number of variables, including age, gender, health, and other variables. Insurance companies may charge varying premiums for the same Medicare Supplement Plan K depending on certain criteria, including geography. In order to guarantee you are paying the least price possible for your Medigap coverage, it is in your best interest to comparison shop. Unless you don’t pay the plan premium, you lied on the application, or the Medigap insurance provider goes bankrupt or becomes insolvent, companies cannot cancel your coverage.

How Are the Costs of This Plan Calculated?

The cost of the Medicare Supplement Plan K varies depending on the Medicare insurance company you choose. For Medigap plans, there are three main pricing tiers: community-rated, issue-age-rated, and attained-age-rated.


  • Community-rated: Everyone with Medigap coverage normally pays the same monthly premium, regardless of age. Your age is not one of the criteria that will boost premiums; instead, the rate of inflation and other factors will.


  • Issue-age-rated: The price of your Medigap insurance is based on your age at the time you bought it. Your premiums are lower and won’t rise as you get older if you buy when you’re younger. Your age is not one of the criteria that will boost premiums; instead, the rate of inflation and other factors will.


  • Issue-age-rated: Depending on your age at the time you bought Medigap insurance, the cost of that coverage will vary. Your premiums are lower when you buy when you’re younger and won’t go up as you get older. Your age is not a contributing factor to premium increases; instead, inflation and other factors may do so.


How to Enroll?

The best time to sign up for a Medicare Supplement plan is when you first qualify. You can start shopping for a Medigap insurance plan on the first of the month after your 65th birthday. As of right now, your six-month Medigap Open Enrollment Period has officially started.


Medicare Parts A and B must already be in effect on your account. Any Medigap coverage that is currently being offered in your state may be purchased, regardless of any health difficulties you may have. Medigap coverage will normally be more numerous and priced more affordably during this time.


Outside Enrollment Period: You can still apply for Medigap coverage outside of the Initial Enrollment Period, even though it’s generally better to enroll when you first become eligible. However, there is no assurance that an insurance company will sell you a policy if you apply for coverage after your first enrollment period and don’t meet the medical underwriting requirements.


The main queries about Medicare Supplement Plan K, often asked by our clients are addressed below.

Your annual out-of-pocket spending is restricted under Plan K and will be $6,940 in 2023. This is advantageous because Original Medicare does not have a yearly out-of-pocket spending restriction, therefore there is no cap on your annual healthcare expenses. The plan covers all Medicare-approved expenses for the remainder of the year once your out-of-pocket expenses have reached this "cap".

It's crucial to compare prices because Medigap premiums differ from insurance provider to insurance company. Working with SelectQuote allows us to compare all of your Medicare coverage alternatives in order to locate the ideal plan at a cost that works for you.

Except for Wisconsin Medicare Supplement Plans, Minnesota Medicare Supplement Plans, and Massachusetts Supplement Plans, Medigap plans are uniform across most states, meaning they provide the same benefits.

While insurance providers cannot force you to wait before your coverage begins, they may do so if you need coverage for a pre-existing ailment. If a condition was treated or discovered within six months of the Medicare Supplement plan's start date, coverage for that condition may be excluded.

After six months, excluded condition will be covered by the Medicare Supplement plan. Enrollment in a Medicare Supplement plan to replace a Medigap plan with "creditable coverage" during your Medigap open enrollment period, however, may allow you to skip or reduce the waiting time for a pre-existing condition.

Analyzing different Medicare Supplement Plans and comparing them

There are eight commonly available Medicare Supplement plans offered. DreamhealthQuotes is here to walk you through the numerous alternatives so you can select the Medigap plan that best fits your requirements and financial situation. Additionally, we can address any queries you may have. For more information on the various Medicare Supplement plans available, keep reading.

For your convenience and ready reference, do feel free to explore the following valuable resources for more on Medicare supplement plans:

Discover Your Ideal Medicare Supplement Plan with DreamhealthQuotes

The ideal Medicare plan for your needs, your budget, and your healthcare requirements can be difficult to determine. To locate the best Medicare plan for your needs, DreamhealthQuotes will take the time to learn about your unique requirements. We’ll then shop and compare all of the Medicare plans you have access to.

Unlock the highest value for your money!