Medigap Plan L is a Medicare supplement insurance plan that provides coverage for certain medical expenses not covered by Original Medicare. It offers a slightly different level of coverage compared to other Medigap plans, with the goal of reducing your out-of-pocket costs.
With Medigap Plan L, you will be responsible for paying a portion of your healthcare expenses, including Medicare Part A coinsurance and hospital costs, Medicare Part B coinsurance or copayment, and blood expenses. The plan covers 75% of your Part A hospice care coinsurance or copayment, as well as 75% of skilled nursing facility care coinsurance.
Similar to other Medigap plans, Medigap Plan L also has an out-of-pocket limit ($3.530 for 2024). Once you reach this limit in annual out-of-pocket expenses, the plan will cover 100% of your covered services for the rest of the year. This feature provides some financial protection and helps you manage your healthcare costs.
Medigap Plan L may be a suitable option if you are looking for a lower-cost plan and are willing to share a larger portion of your medical expenses. However, it's important to carefully consider your healthcare needs and budget to determine if this plan meets your coverage preferences. Remember to review the specific benefits of Medigap Plan L and compare them with your individual healthcare requirements before making a decision.
Below is a comprehensive list of the covered services provided by Medicare Supplement Plan L, which include benefits under Medicare Part A, Medicare Part B, and other areas:
