Original Medicare offers pretty comprehensive coverage and gives you the freedom to visit any doctor in the country who is willing to accept Medicare patients. But with all the advantages of Medicare, you might still find it difficult to afford out-of-pocket expenses. Such as your 20% Medicare Part B coinsurance. If this is true for you, you should look for additional coverage through a Kentucky Medicare Supplement Plan.
Kentucky Medicare Supplement Plans are sold by private insurance companies, and they typically cover things like your Medicare Part A deductible and your 20% Medicare Part B coinsurance. The federal government, though, standardizes these plans, so you’ll always know what you’re getting. In fact, the Centers for Medicare & Medicaid Services (CMS), which regulates Medicare Supplement Plans, requires that all plans with the same letter name provide the same benefit coverage across the country.
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Having said that, premiums can vary greatly depending on the insurance company that you choose. So, it’s essential to compare a variety of Kentucky Medicare Supplement Plans, as well as different insurers in order to find the policy that best suits your needs. EZ can assist you in comparing both, but before we do so, we recommend that you read our guide to the Medicare Supplement Plans in Kentucky and how they work.
Kentucky Medicare Supplement Plans
A Medicare Supplement Plan is your best option if you need additional coverage to bridge any gaps in Original Medicare. Particularly the 20% coinsurance that you pay each time you access services covered by Medicare Part B. If you could use some help paying your out-of-pocket medical expenses, you should consider purchasing a Medicare Supplement Plan.
If you are in the market for a Medicare Supplement Plan, the first thing you should know is that there are 10 standardized plans available in Kentucky. Each of which is labeled with a different letter of the alphabet (A, B, C, D, F, G, K, L, M, and N). All insurance companies have to offer Plan A to customers, and Plans C and F are only available to individuals who became Medicare-eligible prior to the first of the year 2020.
You’ll have to pay a monthly premium to your private insurance company for one of these plans. But for this premium, you’ll get some, or even most, of your out-of-pocket medical expenses covered. And you’ll be happy to know that Medicare Supplement Plan premiums are generally very affordable. Depending on the specifics of your policy and where you live in Kentucky, monthly premiums for these plans can cost anywhere from $46 to $416.
We understand that it can be difficult to keep everything straight when there are so many options available. Which is why we have outlined the coverage included in each plan to assist you in getting started.
Plan A
Plan A is the most basic option when it comes to Medicare Supplement Plans. But even though it’s fairly basic, it will cover what is widely regarded as the single most important component of Medicare Supplement Plans. Which is the 20% of outpatient treatments that Original Medicare does not pay for.
In the state of Kentucky, monthly premiums for Plan A can range anywhere from $66 to $372.
Plan B
Medicare Supplement Plan B is slightly less basic than Plan A. It covers everything that Plan A does, including:
- Medicare Part A coinsurance and hospital costs – Part A only covers the first 60 days of inpatient hospital stays in a benefit period; after that, you must pay a portion of your bills for each day after the first 60. The coinsurance for days 61-90 is $400 per day. Your coinsurance will be $800 per day if your stay is between 91 and 150 days and you use your Lifetime Reserve days. Plan B covers all of these expenses.
- Medicare Part B coinsurance – For doctor visits and other outpatient care, you will typically be required to pay Medicare Part B coinsurance. That is, Medicare Part B pays 80% of the Medicare-approved amount for covered services. With the remaining 20% paid by you. Plan B takes care of everything.
- First 3 pints of blood – If you need blood during treatment, Original Medicare only covers the fourth and subsequent pints. The first three pints are covered by Plan B.
- Part A hospice care and coinsurance – Medicare covers Hospice services, but copayments are required. These copayments include $5 for each prescription. As well as 5% of the Medicare-approved amount for inpatient assisted living. Plan B covers all hospice-related expenses.
But Plan B also includes coverage for the Medicare Part A hospital deductible, which Plan A does not. The Part A deductible in 2023 is $1,600 per benefit period. Not only that, but this deductible is charged based on a 60-day benefit period rather than on an annual basis, so you may have to pay it more than once in a single year.
Plan B premiums in Kentucky range from $119 to $400 a month.
Plan C
This Medicare Supplement Plan is among the most comprehensive on the market, although it is not available to all Medicare beneficiaries. Plan C covers almost everything, with the exception of any excess charges associated with Medicare Part B. This means that Plan C will cover both your Parts A and B deductibles, in addition to the 20% coinsurance for all outpatient care.
Coverage includes the following:
- Part A hospital deductible and coinsurance
- Hospital costs up to an additional 365 days after Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Blood (the first 3 pints)
- Other Medicare-approved expenses associated with Part A hospitalization
- Medicare Part B coinsurance and copayments
- Part B deductible
- Other Medicare-approved expenses associated with Part B coverage
Unfortunately, Medicare beneficiaries who became eligible for the program after January 1, 2020 can no longer select Plan C as their coverage option. If you had Plan C before that date, you can keep it, and if you were eligible for Medicare before January 1, 2020 but haven’t yet enrolled, you may still be able to buy it.
Monthly premiums for Plan C can cost anywhere from $148 to $416 in Kentucky.
Plan D
Plan D covers the majority of out-of-pocket medical expenses including :
- Part A hospital coinsurance and hospital costs up to an extra 365 days after Original Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Part B coinsurance
- First 3 pints of blood
- Skilled nursing facility (SNF) care coinsurance – Medicare Part A requires you to pay coinsurance after the 20th day of your inpatient stay in a skilled nursing facility. In 2023, the Part A coinsurance for skilled nursing facility care is $200 per day.
- Part A deductible
- 80% of foreign travel emergency costs (up to plan limits)
The deductibles and excess charges associated with Medicare Part B are not covered by Plan D. If your doctor does not accept Medicare assignment, they are legally able to charge you more (up to 15%) for the service than what Medicare is willing to pay for it. In this case, the difference between the amount that your doctor charges and the amount that is approved by Medicare, known as an “excess charge,” will be your responsibility.
Premiums for Kentucky residents on Plan D can range anywhere from $118 to $312 per month.
Plan F
Medicare Supplement Plan F has long been the best-selling plan on the market, although, like Plan C, it is no longer available to all beneficiaries. It pays for all of your out-of-pocket expenses, so you’ll only have to pay the monthly Plan F premium if you have this plan. The covered expenses include:
- Part A hospital deductible and coinsurance
- Hospital costs up to an additional 365 days after Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Blood (the first 3 pints)
- Other Medicare-approved expenses associated with Part A hospitalization
- Medicare Part B 20% coinsurance and copayments
- Medicare-approved doctor’s office fees
- Part B deductible
- Medicare Part B excess charges
- Other Medicare-approved expenses associated with Part B coverage
The only catch is that individuals who became eligible for Medicare after January 1, 2020 will not be able to sign up for Plan F. You are eligible to purchase one of these plans if you became eligible for Medicare before the year 2020; if you already have Plan F, you can keep it for as long as you want.
In the state of Kentucky, monthly Plan F premiums can range anywhere from $119 to $510 on average.
Plan G
If you like the sound of Plan F, but are not eligible to purchase one of these plans, look into Plan G. This plan covers almost everything that Plan F does, including:
- Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
- Part A deductible
- Part A hospice care coinsurance or copayment
- Part B coinsurance or copayment
- Part B excess charges (if a provider is permitted to charge more than Medicare’s approved amount and does so)
- Blood transfusion (first 3 pints)
The only thing Plan G doesn’t cover is the Medicare Part B deductible. And the good news is that Plan G premiums are frequently very competitive, with premiums ranging from $106 to $410 in Kentucky, making these plans a better value than Plan F.
Plan K
Medicare Supplement Plan K reduces your Original Medicare out-of-pocket expenses, but it does not completely fill the gaps. Plan K only pays 50% of some expenses until you reach your out-of-pocket maximum. These expenses include:
- Medicare Part B coinsurance – Plan K covers half of these costs, so you will be responsible for 50% of your 20% coinsurance. For example, if your doctor charges $100 for a service, Medicare will cover $80, Plan K will cover $10, and you will cover the remaining $10.
- First 3 pints of blood
- Part A hospice care coinsurance or copayment – Plan K will pay for half of these costs.
- Skilled nursing facility care coinsurance – Plan K pays half of the coinsurance for medical care in skilled nursing care facilities.
- Medicare Part A deductible – Medicare Supplement Plan K will pay half of these deductibles, or $800. Plan K requires you to pay the Medicare Part B deductible, which is $226 in 2023.
Because of its 50% coverage, you’ll pay more at the point of service with Plan K. But one of the best things about this plan is that it has an out-of-pocket maximum, unlike most other plans (and Original Medicare). Plan K’s annual out-of-pocket maximum is $6,620 (as of 2023). After you spend this amount on medical services, Medicare Supplement Plan K covers the remaining approved costs for the year. Your maximum resets annually.
And while Plan K covers most things at 50%, it actually covers all of your Medicare Part A coinsurance. So, you won’t have to pay anything out-of-pocket if you have a hospital stay over 60 days. This is the only basic benefit that Medicare Supplement Plan K covers fully.
Plan K premiums in Kentucky are in the lower range, costing from $46 to $174 a month, because of its higher out-of-pocket costs.
Plan L
Medicare Supplement Plan L covers most Original Medicare costs, but like Part K, it covers them at a certain percentage. It also has an out-of-pocket maximum that is lower than Plan K’s ($3,310 in 2023). Your insurer will pay all your covered expenses after you reach that amount.
Medicare Supplement Plan L fully covers Part A hospital costs and coinsurance. It also covers the following at a higher percentage than does Plan K:
- Medicare Part B coinsurance – Plan L covers 75% of your 20% Part B coinsurance.
- Blood – If you require blood while in the hospital, Plan L will cover 75% of the cost of the first three pints.
- Part A hospice care copayments – Plan L pays 75% of your Part A copays for hospice care.
- Skilled nursing facility care coinsurance – Plan L pays 75% of the $200 per day (after the 20th day of your stay) coinsurance for medical care in skilled nursing care facilities.
- Part A deductible – Medicare Supplement Plan L will cover 75% of your Part A deductibles for each 60-day benefit period. You must still meet your Medicare Part B deductible, which is $226 per year in 2023, if you choose Plan L.
Plan L premiums cost between $67 and $276 a month in Kentucky.
Plan M
Like Plan K and Plan L, Medicare Supplement Plan M covers the majority of the costs associated with Original Medicare, but not all of them.
Medicare Supplement Plan M covers all of your Medicare Part A coinsurance and hospital costs. It also covers:
- Medicare Part B coinsurance – Plan M pays your Part B coinsurance and/or copayments in full.
- Blood – If you require blood while in the hospital, Medicare Supplement Plan M will cover the first three pints of blood in full.
- Part A hospice care coinsurance or copayment – Plan M will cover all of your hospice care coinsurance and copays in full.
- Skilled nursing facility care coinsurance – Plan M covers the entire cost of Part A skilled nursing facility coinsurance.
- Part A deductible – Medicare Supplement Plan M will cover half of your Medicare Part A deductible. If you have Plan M, you will have to pay half of the $1,600 (or $800).
Plan M premiums range from $124 to $359 per month in Kentucky.
Plan N
Most of the coverage gaps left by Original Medicare are filled by Medicare Supplement Plan N. The only other exceptions to coverage with Plan N are the Part B deductible ($226 in 2023) and any Medicare Part B excess charges. Excess charges are parts of doctor bills that are more than the Medicare-approved amount. The only thing that makes Plan N different is that you might have to pay copayments for some Part B services.
So, all of the following are covered by Medicare Supplement Plan N:
- Medicare Part B coinsurance – Plan N will cover your Part B coinsurance costs in full, with the exception of a copayment of up to $20 for some office visits. For emergency room visits that do not result in an inpatient admission, you may have to pay a second copayment of up to $50.
- Blood – If you require blood while in the hospital, Medicare Supplement Plan N will cover the first three pints.
- Part A hospice care coinsurance or copayment – Plan N pays your hospice care coinsurance and copayments in full.
- Skilled nursing facility care coinsurance – Your skilled nursing facility coinsurance will be fully covered by Medicare Supplement Plan N.
- Part A deductible – Medicare Supplement Plan N pays your $1,600 deductible in full for each 60-day benefit period.
- Foreign travel emergency care – Original Medicare typically does not cover medical care received outside of the United States. If you need emergency care while traveling outside of the United States, Medicare Supplement Plan N will cover 80% of the costs of qualified emergency medical care.
The price for Plan N can range from $79 to $350 a month in Kentucky.
When to Enroll
While you can enroll in a Kentucky Medicare Supplement Plan at any time, there is one time when doing so will be most beneficial to you. This is your Medicare Supplement Open Enrollment Period. Which is the 6-month period that begins when you reach the age of 65 and enroll in Original Medicare.
You should buy your Medicare Supplement Plan during your OEP because you will be given “guaranteed issue rights”. This means that insurers will not be permitted to use medical underwriting to determine eligibility or premiums. In other words, insurance companies will not be able to deny you coverage or charge you more because of health conditions. So, it’s important to take advantage of your Medicare Supplement Open Enrollment Period.
It’s important to note that federal regulations do not guarantee access to a Medicare Supplement Plan if you are under 65 and eligible for Medicare due to a disability. The majority of states have adopted rules to ensure that enrollees under the age of 65 have at least some access to Medicare Supplement Plans. But Kentucky is not one of them. Medicare beneficiaries under 65 in Kentucky can apply for a Medicare Supplement Plan. But coverage is not guaranteed. And insurers can use medical underwriting to determine whether to issue a policy and at what price.
How To Choose
When it comes to Medicare coverage, don’t be afraid to ask questions. Speak to an EZ agent who can explain everything to you and give you guidance on signing up. EZ can assist you in enrolling in Medicare, purchasing a Medicare Supplement Plan, or simply weighing your options. Our agents work with the best insurance companies in the country. They can provide you with a free comparison of all available plans in your area. We will go over your medical and financial needs with you and help you find a plan that works for you. To get started, simply enter your zip code in the bar below or give one of our licensed agents a call at 877-670-3602.
