Medigap Plan L covers the basic benefits that all Medicare Supplement plans are required to offer, but some costs covers at 75% instead of fully. Medicare supplement Plan L covers 100% of the costs of Medicare Part A coinsurance and hospital costs up to one year after Medicare benefits are exhausted. It covers the Part B coinsurance for preventive services, the foreign travel emergency coverage, and the Part A coinsurance at 100%. Plan L does not cover the Part B deductible or the Part B excess charges.
MEDIGAP PLAN L COVERS:
Part A coinsurance and up to an additional 365 days of hospital costs after Medicare benefits are exhausted
75% of the Part B coinsurance/copayment
75% of the first 3 pints of blood
75% of the Part A hospice coinsurance/copayment
75% of the skilled nursing facility care coinsurance
75% of the Part A deductible
$3310 out-of-pocket limit (in 2022), then Medicare supplement pays 100%
PLAN L OUT-OF-POCKET MAXIMUM
Plan L is one of two Medicare supplement plans that offers a maximum out-of-pocket(MOOP) limit. In 2022, the limit was $3310, but this typically increases each year. After the maximum has been met, Plan L will pay for 100% of covered services for the remainder of the year.
MEDIGAP PLAN L PREMIUMS
Individual premiums will vary based on which state the individual is seeking coverage in, which carrier they are purchasing from, and also individual factors like gender, age, tobacco use, and a few other details. The average cost for Plan L ranges from $80-$180 per month. In general, Plan L premiums are higher in states who have a higher cost of living.