Individuals can enroll in Plan L as long as they have already enrolled in Original Medicare – Parts A and B. The best time to enroll is during your open enrollment period, which begins on your Part B effective date. Beneficiaries will have six months from that day to enroll in a plan with guaranteed issue rights. After that time frame, enrollment may be declined based on an individual’s health history.
Any coverage that is additional to Original Medicare is great to have. Plan L has a lower premium than some of the other Medicare supplements, so as long as individuals do not mind having to pay some cost-sharing expenses, Plan L is a good choice. This plan also has an annual out-of-pocket limit, which is helpful if you have high medical bills.
No Medigap plan includes prescription drug coverage outside of some that are administered in an inpatient hospital setting. Medicare beneficiaries who are enrolled in Plan L or any other Medicare supplement should also enroll in a Part D plan. Part D plans include prescription drug coverage.
Medigap plans only cover services that are also covered by Original Medicare – Parts A and B. Part B does offer benefits for mental health services, which includes care received from a psychiatrist. So yes, Plan L does offer mental health service coverage.
First, you’ll need to know if you are eligible for both. Medicare beneficiaries who turn 65 after January 1, 2020 will not be eligible for Plan F. Plan L is a good alternative that comes with lower premiums, but there is some cost-sharing required.