Medicare Supplement Plan L: Lower Premiums, Shared Costs

When you choose Traditional Medicare, you quickly realize it doesn't cover everything. That's where a Medicare Supplement (Medigap) plan comes in. Remember, Medigap vs Medicare Advantage is a rigged comparison; the real choice is Traditional Medicare (A+B) vs Medicare Advantage. The supplement decision comes AFTER you choose Traditional Medicare - it's a component of the Traditional path, not an alternative to Advantage.

If you've chosen the Traditional path, Plan L is one of the options designed to fill the gaps. Unlike Plan G, which covers 100% of most gaps, Plan L is a cost-sharing plan. It covers 75% of most Medicare-approved out-of-pocket costs, leaving you responsible for the remaining 25% until you reach an annual out-of-pocket limit.

Here is what Plan L covers at 100%:

• Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up.

Here is what Plan L covers at 75%:

• Medicare Part B coinsurance or copayment
• Blood (first 3 pints)
• Part A hospice care coinsurance or copayment
• Skilled nursing facility care coinsurance
• Medicare Part A deductible

Plan L does not cover the Medicare Part B deductible or Part B excess charges. However, it does include an annual out-of-pocket limit. Once your out-of-pocket expenses and your Part B deductible reach this limit, the plan pays 100% of covered services for the rest of the calendar year.

Benefits are standardized by federal law. This means a Plan L from one carrier has the exact same coverage as a Plan L from another carrier. The only difference is the price and the company's reputation.

You've worked hard to build your life, and you deserve straight answers, no surprises. We are on your side of the table, ready to walk you through every option. If you're comfortable taking on a little more risk for a lower monthly premium, Plan L might be the right fit. But you don't have to figure it out alone.

Protect what you've earned. Let's look at the numbers together and find the plan that makes the most sense for your situation.