Medigap Plan K Rates in Oregon

By Corin Faye
eMedicareSupplements Senior Writer

If you are an Oregon resident on Medicare with low annual medical expenses and want to obtain extensive Medigap coverage at a low cost, consider Medicare Supplement Plan K. A cost-sharing plan with an yearly deductible, supplemental Plan K offers you the ability to pay your low annual expenses yourself while securing good coverage once the cost reaches a certain point. After a $4,620 limit has been reached, Plan K covers 100 percent of Medicare Part A benefits, including inpatient hospitalization coinsurance and extended coverage for 365 days after the expiration of Part A benefits. Medicare Part B copays and coinsurance are all covered at 50 percent, along with the Part A deductible, hospice and skilled nursing care, and all bloodwork after the first three pints. The Part B deductible and foreign travel emergency care are not covered at all under Plan K.

Lowest Rates Offered by Oregon Carriers of Medigap Plan K

Four different insurance companies currently offer Plan K in Oregon, where prices commonly vary based on age, sex, region of residency and tobacco use. Three insurers offer Plan K for the same rate to men and women. Regence BlueCross BlueShield offers Plan K to both men and women of 65 for a monthly premium as low as $78. UnitedHealthcare offers supplemental Plan K to men and women at monthly rates starting at $40.77, while HealthNet makes the plan available for as little as $59 per month. Humana’s rates for Plan K start at $63.96 for men and $63.80 for women.

If you are a smoker, you can anticipate an increase of 10 percent or more on the above rates. If you don't live in the most affordably priced region of Oregon, you will pay a few dollars more per month than beneficiaries who do live in those areas.

Plan K is an excellent plan for those who have few medical expenses and thus wish to keep their premiums low. It offers a safety net of coverage once the out-of-pocket limit is met, although the out-of-pocket limit is subject to yearly inflation. If you are interested in a way to save money on premiums and better manage your health care coverage within Medicare, consider Plan K as a solution to your needs.