Medicare Supplement Plan L is a part of a Medicare Supplement Insurance plan (Medigap) which can help you cover the costs that Original Medicare doesn’t cover. Parts A and B only cover 80% of medical services so Medicare Supplement plans help beneficiaries cover the rest 20% of the remaining pocket costs like coinsurance, copayments, and deductibles. Plan L is available nationwide and every hospital and doctor who accepts Original Medicare must accept any Medicare Supplement plan, including plan L.
Plan L coverage
With Medicare Supplement Plan L enrollees are provided with these benefits:
- 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 are used up
- 75% for Medicare Part B copays or coinsurance
- 75% covers for first three prints of blood
- 75% of Medicare part A hospice care coinsurance
- 75% coverage of coinsurance for skilled nursing facilities
- 75% coverage for Medicare Part A deductible
Medicare Supplement Plan L will not cover the costs of Part B deductible, Part B excess charges, and foreign travel emergencies. Also, this is a cost-sharing plan so with plan L you will also be responsible for 25% of the remaining costs for some services like Medicare part B copayments, Part A coinsurance for hospice care, skilled nursing facilities, Part A deductible, and the first three blood prints every year.
Plan L costs
The first thing you will be responsible for is paying your monthly premium which can be up to $180 a month. The cost is not the same for every beneficiary and can be different for every individual based on several factors like age, gender, living area, tobacco usage, etc. You must meet your Part B deductible which is $223 before your coverage kicks in.
Additional pocket expenses can be Part B excess charges. Those charges mean that doctors may bill you up to 15% of costs for provided services if they do not accept previously determined costs of Medicare. But, that is a very rare situation. Also, if you have any emergencies during traveling abroad your insurance will not cover it.
As a cost-sharing plan, Medicare Supplement Plan L also has a maximum out-of-pocket limit which is $3310 in 2022. After you reach this limit in a given year, your insurance company starts to pay costs in full.
Medigap Plan L Enrollment Period
The best time for you to enroll is during the Medicare Supplement Open Enrollment Period which lasts 6 months. This enrollment period begins the first month that you are over 65 and already enrolled in Medicare Part B.
During this 6 month period, 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. However if you don’t enroll during this time, you can do it any other time but you may be rejected due to pre-existing health conditions or pay a higher monthly premium for your plan during a lifetime.