Medicare Supplemental Plan L
If you’re searching for Medigap supplemental plan L insurance, you know that a range of Medigap plans are offered to offset the costs of health care not covered by Medicare.
There are a number of plans from which to choose, all of which offer a variety of benefits. Medigap Supplemental Plan L is one of the 10 plan types (A through N) offered in most states.
What Does Supplemental Plan L Insurance Cover?
Medigap Plan L provides a series of benefits to supplement your Medicare insurance coverage. These include coverage for:
- Basic Benefits
- Skilled Nursing Facilities
- Part A Deductible
Read on to learn the details of each of these categories.
Most of Medigap Plan L’s benefits revolve around Part A Hospital Insurance, which is the part of Medicare that pays for inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care.
- Part A Hospital Coinsurance
Hospital coinsurance helps pay for the following:
- Days 61-90 of a hospital stay in each Medicare benefit period
- Days 91-150 of a hospital stay. *
*Medicare will only pay for these 60 days once during your lifetime
- Additional Part A Hospital Benefits
- With Medigap Plan J, you get an extra 365 days of inpatient hospital care after you use your Original Medicare hospital benefits.
- Part B Coinsurance
- This pays for Part B coinsurance after you meet your annual deductible.
- Part A and B Blood Coverage
- This covers the first three pints of blood needed per calendar year.
- Part A Hospice Coinsurance
- This benefit pays for outpatient prescriptions drug and inpatient respite care coinsurance.
Along with these basics, Medigap Plan L also provides other benefits, as follows.
Skilled Nursing Facility
This benefit includes a stay in a nursing facility with the staff and equipment to give skilled nursing care and, in most cases, skilled rehabilitation service s and other related health services.
Part A (Hospital Insurance)
The part of Medicare that pays for inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care.
When Can You Enroll in Medicare Supplement Plan L Insurance?
The best time to enroll in Medigap Plan L is during the Medigap Open Enrollment Period (OEP), which begins on the first day of the month you’re over age 65 and also signed up for Medicare Part B — and lasts for six months.
Be aware that if you don’t enroll within this timeframe, you may be required to undergo a medical exam, or your medical history may be reviewed.
At that time, your application can be denied based on pre-existing health conditions, unless you qualify for guaranteed issue rights to a Medigap plan.
What Does Medicare Supplemental Insurance Plan L Cost?
Medigap Plan L premiums are usually lower than other Medigap plan policies, but they can vary among insurance providers.
The lower premiums mean that Medigap Plan L requires more cost-sharing than many other supplement plans.
This means you’ll still be responsible for some Original Medicare out-of-pocket costs — in this case, your Medicare Part B deductible and excess charges related to Part B.
Part B excess charges refer to the “up to 15% over the Medicare-approved amount” that a Medicare doctor is allowed to charge you.
Medigap Plan L also includes a limit on out-of-pocket expenses, which most other plans do not offer.
Ready to Learn More or to Choose this Plan?
Choosing your Medigap plan is a big decision and many people need guidance from insurance professionals to determine the best plan for their needs.
If you want to learn more about Medicare Supplemental Plan L insurance or get a quote for a policy, contact Plan Medigap by calling (800) 750-2407 today.