Any Medicare beneficiary who is already enrolled in Original Medicare – Parts A and B – is eligible to enroll in Plan K.
Many insurance carriers offer High Deductible Plan G as a Medicare supplement option. Each carrier may offer different plans in different states. No matter which carrier you enroll with, the plan’s benefits remain the same. The only difference will be the premium.
Plan K does not include routine eye exams or coverage for eyeglasses or contact lenses. Medigap plan holders should consider enrolling in a separate Dental, Vision, Hearing (DVH) plan.
Plan F will provide the most comprehensive coverage. However, that comes with a price as the premiums for Plan F will be much higher than those for Plan K. Also, Plan F is not available to anyone who turns 65 after January 1, 2020, so it is not an option available to everyone. Individuals who are eligible for both will need to weigh the difference in premiums versus the difference in coverage.
Plan K does not have a deductible in itself, but Plan K members do have to pay half of the Part A deductible and the entire Part B deductible. Deductibles for both of these can change each year.
Plan K is a great choice for individuals who are searching for a lower monthly premium. It does have some cost-sharing required, but also provides benefits for those who travel outside of the United States. While it is not the most comprehensive plan available, it still offers great benefits for the price.