The Original Medicare Program covers a variety of medical services such as visits to your physician and stays in the hospital. Despite this coverage provided by Original Medicare, there are still significant out-of-pocket expenses that you must still pay for, such as copays, deductibles, and the costs of office visits with your physician. Medigap plans help to defray some of these additional costs with Medicare Plan L being one of those Medigap plans considered to be in the mid-range level for reimbursement benefits.
What is Covered by Medicare Supplement Plan L?
Medicare Supplement Plan L covers the following:
- All Medicare Part A coinsurance.
- 75% of Medicare Part B copayments and coinsurance.
- 75% of Part A hospice copayments and coinsurance.
- 75% of coinsurance for care in a Skilled Nursing Care Facility.
- 75% of the Medicare Part A deductible which for 2022 is $1556.
Medicare Supplement Plan L will continue to pay 75% of all required payment amounts until you have paid $3,310, when it will then convert to paying 100% of all covered services.
What is Not Covered by Medicare Supplement Plan L?
Medicare Supplement Plan L does not cover the following:
- Medicare Part B deductible, which is $233 in 2022.
- Charges which are more than the Medicare approved payment amounts.
- Any health emergencies that occur during foreign travel.
When Should You Choose Medicare Supplement Plan L?
If you are relatively healthy and do not generally require significant chronic medical care, then Medicare Supplement Plan L may be the perfect Medigap plan for you. Be aware, though, that if you do choose this plan, you may wind up paying up to $3,310 every year before your Medicare Supplement Plan L coverage kicks in.
In addition, before signing up for Medicare Supplement Plan L, you will want to check out other Medicare Medigap Plans that will give you a greater level of coverage for a premium that has a similar monthly cost. These Medigap plans include Medigap Plan F and Medigap Plan G which both have a lower deductible of $2,490 as of 2022 and a similar premium to Medicare Plan L but which both have greater coverage of medical services than does Medicare Supplement Plan L.