Medicare Supplement Part K in Colorado requires you to pay a portion (50%) of select costs including co-payments, coinsurance, and deductibles.
Only when you reach your cap would the plan cover 100% of your Medicare approved costs beyond that. Because of this, Supplement Plan K may be a good option if you have low medical expenses, prefer a lower monthly premium, and are ok assuming some medical costs.
Medicare Supplement Plan K includes the following benefits:
- 50% of Medicare Part A coinsurance for hospitalization in addition to coverage for one additional year after Medicare benefits end
- 50% of Medicare Part B coinsurance for medical expenses — usually 20% of Medicare-approved expenses — or co-payments for outpatient services
- 50% after the first three pints of blood you receive as a hospital inpatient or outpatient (whereas original Medicare typically covers any pints of blood you receive after the first three)
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- 50% of Medicare Part A coinsurance for hospice care
- 50% of Medicare Part B preventive care coinsurance
- 50% of Medicare Part A deductible
- 50% of Skilled nursing facility care coinsurance
Medicare Supplement Plan K does not cover:
- Medicare Part B deductible
- Medicare Part B excess charges
- Foreign travel emergency coverage