Medicare Supplement Plan K vs Plan L — 2026 Comparison
Plan K covers 50% of cost-sharing with a $7,220 out-of-pocket limit. Plan L covers 75% with a $3,610 limit. Compare these cost-sharing plans to find your best fit.
Both Plans K and L are cost-sharing plans with annual out-of-pocket maximums. Plan L covers more (75% vs 50%) and has a lower OOP limit ($3,610 vs $7,220) but has higher premiums than Plan K. Both are significantly cheaper than Plans G or N.
Plan K vs Plan L: Side-by-Side Comparison
Both Plan K and Plan L are federally standardized Medicare Supplement (Medigap) plans. Every insurer that sells these plans must provide identical benefits — the only variable is the monthly premium. The table below highlights where the two plans differ.
| Feature | Plan K | Plan L |
|---|---|---|
| Cost-sharing coverage | 50% of most benefit categories | 75% of most benefit categories |
| Annual out-of-pocket limit (2026) | $7,220 | $3,610 |
| Monthly premium (age 65) | $50–$130 | $70–$170 |
| Part A coinsurance | 100% covered | 100% covered |
| Part B deductible | Not covered | Not covered |
Premium estimates are for a 65-year-old non-smoking female. Actual premiums vary by state, insurer, age, gender, and tobacco use. Source: Medicare.gov plan finder data, April 2026.
What Plan K Covers
Plan K is a cost-sharing plan that covers 50% of several Medicare cost-sharing items rather than 100%. It covers Part A coinsurance and hospital costs in full, and covers 50% of the Part A deductible, skilled nursing facility coinsurance, and Part A hospice copayments. It does not cover Part B excess charges or foreign travel. However, Plan K has a $7,220 out-of-pocket maximum in 2026 — once you reach that limit, the plan pays 100%.
- Part A coinsurance & hospital costs (up to 365 days after Medicare): Fully covered
- Part A deductible ($1,676 in 2026): 50% covered
- Part A hospice care coinsurance or copayment: 50% covered
- Part B coinsurance or copayment (20% of outpatient costs): 50% covered
- Skilled nursing facility care coinsurance: 50% covered
- Out-of-pocket limit (then plan pays 100%): Fully covered — $7,220 in 2026; then 100% covered
What Plan L Covers
Plan L is similar to Plan K but provides 75% coverage for cost-sharing items (instead of 50%) and has a lower out-of-pocket maximum of $3,610 in 2026. It covers Part A coinsurance in full and 75% of the Part A deductible, Part B coinsurance, skilled nursing facility coinsurance, and Part A hospice copayments. Monthly premiums are higher than Plan K but lower than Plan G or Plan N.
- Part A coinsurance & hospital costs (up to 365 days after Medicare): Fully covered
- Part A deductible ($1,676 in 2026): 75% covered
- Part A hospice care coinsurance or copayment: 75% covered
- Part B coinsurance or copayment (20% of outpatient costs): 75% covered
- Skilled nursing facility care coinsurance: 75% covered
- Out-of-pocket limit (then plan pays 100%): Fully covered — $3,610 in 2026; then 100% covered
Who Should Choose Plan K?
Very budget-conscious seniors who want the lowest possible premium while retaining a cap on worst-case costs.
Who Should Choose Plan L?
Seniors who want more cost-sharing protection than Plan K with a lower out-of-pocket cap, but still prefer lower premiums than Plan G or N.
Annual Cost Analysis: Plan K vs Plan L
Because Medigap plan benefits are standardized, choosing between Plan K and Plan L is primarily a financial decision. The right plan depends on how much healthcare you use and your comfort with out-of-pocket exposure vs. higher monthly premiums.
To do your own cost analysis, estimate your annual healthcare usage (number of doctor visits, specialist visits, potential hospitalizations) and multiply the copays or cost-sharing amounts by those estimates. Add your annual premium. Compare the totals.
Important: premium savings in good health years are real money now. But a major illness or hospitalization can quickly make the more comprehensive plan worth it. Consider your health history and risk tolerance.
How to Get the Best Rate
Because benefits are standardized, the only reason to choose one insurer over another is the premium and the company's premium increase history. Follow these steps:
- Decide between Plan K and Plan L based on the cost analysis above.
- Get quotes from multiple insurers for the plan letter you've chosen. Use Medicare.gov's Plan Finder or a licensed broker who works with multiple companies.
- Compare premium increase history. Ask insurers for rate increase data for the past 3–5 years. A lower starting premium is worth less if it rises aggressively each year.
- Enroll during your Open Enrollment Period if possible — the 6-month window starting when you're both 65+ and enrolled in Medicare Part B. During this window, you have guaranteed issue rights and cannot be denied or charged more based on health conditions.
- Consider free SHIP counseling — State Health Insurance Assistance Program counselors are trained volunteers who don't sell insurance and can help you compare options. Find your local SHIP at shiphelp.org.
Frequently Asked Questions
When do the out-of-pocket limits for Plans K and L reset?
The out-of-pocket limits reset on January 1 each year, the same as Medicare's benefit periods. The dollar amounts are adjusted annually by CMS.
This site provides general information about Medicare Supplement insurance and medical alert devices. It is not affiliated with or endorsed by the Centers for Medicare & Medicaid Services (CMS) or any government agency. This is not medical or insurance advice. Always consult a licensed insurance professional for personalized guidance.
Medicare rules, premiums, and plan availability change annually. Always verify current information with Medicare.gov, your State Insurance Department, or a licensed insurance advisor. For free, unbiased help, contact your State Health Insurance Assistance Program (SHIP) at shiphelp.org.
Sources
- Centers for Medicare & Medicaid Services. Medicare Supplement Insurance (Medigap). medicare.gov. Retrieved June 2026.
- CMS. Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare. Publication 02110. cms.gov. Retrieved June 2026.
- CMS. 2026 Medicare Parts A & B Premiums and Deductibles. cms.gov. Retrieved June 2026.