Medigap Plan K

Medigap Plan K is a cost-sharing plan that covers 50% of most Medicare gaps rather than 100%. In exchange, it offers significantly lower premiums. It also includes an annual out-of-pocket maximum ($7,220 in 2026), after which Medicare covers 100% of approved costs for the rest of the year.

What Plan K Covers

How to Compare Plans

Because Medigap benefits are standardized by the federal government, Plan K covers the exact same benefits at every insurance company that sells it. The only difference between carriers is the premium — which can vary by 30–50% for the same plan and the same applicant. Working with an independent broker lets you see the full market and pick the lowest price for identical coverage.

Is Medicare Supplement Plan K Right for You?

Plan K is designed for Medicare beneficiaries who want meaningful protection against catastrophic costs while keeping monthly premiums as low as possible. The out-of-pocket maximum of $7,220 in 2026 ensures that even in a worst-case medical year, your exposure is capped — after which Plan K covers 100% of Medicare-approved costs for the remainder of the year.

Plan K works best for relatively healthy individuals who are comfortable with moderate cost-sharing on routine services in exchange for lower premiums. It is less suitable for those with chronic conditions who use healthcare frequently. Because the benefits are federally standardized, comparing Plan K premiums across all carriers in your area through an independent broker is the most effective way to find the best value.