As there are different kinds of Medicare supplement plans available, it is best to re-check and reconsider before finally deciding on one particular one. If you have already compared and are thinking of getting Medicare supplement plan L, find out here whether you already have all the necessary facts on it. Also, if you are already enrolled to this plan, you might want further information or a refreshing on what this plan can do for you.
What does Medicare supplement plan L cover?
This supplement plan isn´t one to cover everything, like supplement plan F does. This is a plan suitable to those who are comfortable with sharing the bill, because the sharing is already enough of a help financially. Also, based on the individual and what they might need coverage for, this plan can be the best option and in the long-run, the least expensive one. While without any supplement plan, you are left covering 100% of the medical care costs, supplement plan L helps you by covering up to 75% of the costs in most cases. Also, this plan has a set limit that you would pay out of your own pocket. In 2018, this limit is set at 2,620$. If you have already reached this amount within a year by paying for the 25% out of your own pocket, the health insurance company will start to cover 100% of the costs from this point on up to the end of that year. These are the expenses, that will be covered up to 75% by this supplement plan:
- Expenses for Medicare Part B copayment or coinsurance
- Expenses for the first three pints of blood, required due to a medical procedure
- Expenses for Medicare Part A coinsurance or copayment due to hospice care
- Expenses for skilled nursing facility (SNF) care coinsurance
- Expenses for Medicare Part A deductible
Your out-of-pocket expenses
When enrolled to this plan, there are some expenses that aren´t covered at all and you would need to cover to 100%. One of these is the Medical Part B deductible, which is 183$ per year. It also won´t cover for any excess charges of Medicare Part B and for any health care emergencies that may occur to you abroad.
One of the main reasons that makes this supplement plan L attractive to some, is that it gives you security and time to plan ahead. You will always know how much you need to set aside for health care, If you´re not predicting needing any of the services that aren´t covered by the plan, than it might be just the right fit for you. Knowing that no high-cost bills can come your way, gives you ease, especially while healing from a condition. When our health is endangered, it is difficult to also think about where to get the money from to pay for the necessary medical care. Also, stress can in some conditions prolong your healing process, hereby simply increasing your costs even more.