If you have been looking at the Medicare Supplement L as a best choice for you, you might be wondering whether there is something that you might have missed! As there are nine other Medicare supplement plans to choose from, decision doesn´t always come easy. While everyone appreciates the possibility to be able to choose from different types of products, this also means that you need to put some thought into your decision. To make this process easier, we have gathered all the facts that you need to know on the Medicare supplement plan L!
1) The 2020 Medicare supplement plan L covers four benefits to a 100%:
- Hospital coinsurance (part A)
- Hospital stay days up to 365, after Medicare part A or part B no longer cover
- Foreign travel
- Coinsurance for preventive care
2) There are five benefits that are covered by the Medicare supplement plan L, but also include a co-sharing on your part. 75% will be covered by the Medicare supplement plan L, while the rest of the bill you will need to pay out of your own pocket:
- Three first pints of blood
- Coinsurance (part B)
- Hospice coinsurance
- Coinsurance for skilled nursing facility
- Deductible (part A)
3) The benefits that the Medicare supplement plan L doesn´t cover at all, are:
- Deductible (part B)
- Part B excess charges
The part B deductible is an annual amount of $183. The excess charges vary from health care service to health care service and from one health care provider to the other. Medicare sets a certain price for each health care service and only cover up to this amount. Many health care providers agree to this price and won´t charge you anything above it. This way, you won´t need to pay any excess charges at all. If, however, you go to a health care provider that sets a price above it, you will need to pay the difference from what the Medicare supplement plan won´t cover. Avoiding these excess charges is easy, as all you need to make sure is that your health care provider charges only up to the Medicare limits. To find out, all you will need to do is call your health care provider and ask!
4) The Medicare supplement plan L has an out-of-pocket limit, which applies to the benefits they partially cover. Once you´ve paid $2310 out of your own pocket, the Medicare supplement plan L will start covering for 100% of the benefits that have been mentioned on the second fact!
5) The Medicare supplement plan L and all other available plans offer the same benefits from state to state. If you´re moving from New York to Colorado and you´re already enrolled to the Medicare supplement plan L, you will be able to enjoy the same benefits in your new location. This applies to 47 States of the U.S. There are three states that have their own, individual standardization and these are: Massachusetts, Wisconsin and Minnesota.