Let’s Look Closely at Medicare Supplement Plan L
Medigap Plan L provides a much lower monthly premium with many of the same standard benefits as other Medigap plans. Plan L covers less of the co-payments and co-insurance than the other supplemental plans and therefore is able to provide this lower premium. There is an annual out-of-pocket maximum that you are covered by which helps limit the amount you are required to pay should you need extra care.
This plan offers more affordability from a premium standpoint yet still offers a reasonable amount of coverage for many services. This plan is similar to Plan K but covers a greater percentage of your costs with a lower annual out-of-pocket amount while the monthly premium is only a bit higher.
Days 1-60 – $1,288 Part A Deductible. (YOU PAY 25%, Plan C Pays 75%)
Days 61-90 – $322 per day co-payment. (Plan L Pays)
Days 91-150 – $644 per day Lifetime Reserve Days co-payment. When your hospital stay exceeds 90 days during a benefit period, a feature referred to as “Lifetime Reserve Days” takes effect. Lifetime Reserve Days are 60 extra days of Medicare-paid care, subject to the $644 per day co-payment.
When you use a reserve day, Medicare permanently subtracts it from your 60-day lifetime limit. (Plan L Pays)
Beyond the additional 365 days. (YOU PAY)
FOR SKILLED NURSING CARE
Days 1-20. (Medicare Pays)
Days 21-100. (YOU PAY 25%, Plan L Pays 75%)
Days 101 and after. (YOU PAY)
Part B Monthly premium of $121.80. (YOU PAY)
Part B $166 deductible. (YOU PAY)
20% of all Medicare approved expenses after the deductible. (YOU PAY 5%, Plan L Pays 15%)
All costs for items not covered by Medicare. (YOU PAY)
Part B Excess Charges. (YOU PAY)
Foreign Travel Emergency. (YOU PAY)
You have an out of pocket limit of $2480
Your Recommended Agent is Greg from BGA Insurance Group
Greg Gudis – Licensed agent ready to assist you during the enrollment period in 2016. Please fill out the form below to send your information to Greg so that he can contact you with the best advice and plan information for your current situation. He can also provide expert advice on retirement planning, life insurance, and long-term care.
This is a solicitation of insurance. By providing this information, you agree that an authorized representative or licensed insurance agent/producer may contact you by phone, e-mail, or mail to answer your questions or provide additional information about Medicare Advantage, Part D or Medicare Supplement Insurance plans.
Coverage information provided by BGA Insurance Group – http://www.bgainsurance.net/medicare-supplement-plan-l-nj-medigap/