Medigap Plan L
Comparing Original Medicare to Medigap Plan L
While Medicare covers a majority of healthcare costs, it still doesn’t cover everything. That’s where Medicare Supplement Plans come in. Medicare Supplement Plans, also called Medigap policies, are offered by private companies to cover out-of-pocket expenses. There are ten different templates that each plan is modeled on. Medigap Plan L is template number eight. Learn more about Medigap Plan L below.
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Hospital Inpatient Costs
Original Medicare
- Day 1-60 of an inpatient stay: Your annual deductible is $1,408 with coinsurance
- Days 61-90: your cost of coinsurance per day is $352
- After Day 90: you pay a lifetime reserve day of $704
Medigap Plan L
- Covers 100% of Medicare Part A coinsurance and hospital costs, up to an additional 365 days after Medicare benefits are used.
Part B Coinsurance
Original Medicare
- You are usually expected to pay 20%
Medigap Plan L
- Covers 75% of Medicare Part B coinsurance or copayment
Blood
Original Medicare
- If the hospital has to buy blood for you, you must pay for the first 3 units of blood you get in a calendar year.
Medigap Plan L
- Covers 75% of first 3 pints of blood
Hospice Care Coinsurance/Copayment
Original Medicare
- You pay a copayment of up to $5 per prescription for outpatient prescription drugs for pain and symptom management.
- You pay 5% of the Medicare-approved amount for inpatient respite care.
Medigap Plan L
- 75% Part A Hospice Coinsurance or copayment
Skilled Nursing Facility (SNF) Care Coinsurance
Original Medicare
- Days 1-20 at SNF facility: no cost
- Days 21-100: you pay $176 per day.
- Day 101 and after: You assume all costs
Medigap Plan L
- 75% SNF Coinsurance
Part A Deductible
Original Medicare
- Annual deductible: $1,408 with coinsurance for days 1-60 of each benefit period.
- After Day 60: See Hospital Inpatient costs, above
Medigap Plan L
- Covers 75% of Part A Deductible
Part B Deductible
Original Medicare
- In 2020, the deductible for part B was $198. After you meet your deductible, Medicare generally covers 80% of the cost and you cover 20%.
Medigap Plan L
- No additional coverage
Part B Excess Charges
Original Medicare
- No out of pocket expense yearly limit
- After you meet your deductible, Medicare generally covers 80% of the cost and you cover 20%.
Medigap Plan L
- No additional coverage
One bonus of Plan L is that it limits the yearly out-of-pocket expenses you’re responsible for paying. In 2020, that limit is $2,940.
Contact Modern Senior Benefits to learn more about the Medigap plans in your area.
