If you’ve been looking into Medicare Supplement (or “Medigap”) plans, you have probably noticed that there is no shortage of options. In fact, each Medigap plan is different from the other, which can make it hard to pick one.

One Medigap plan that does not get talked about as much (but can be just what you are looking for) is Medigap Plan L. This plan is unique because it has a cost-sharing structure, which allows you to share some healthcare costs with the insurance company while also giving you protection by setting a maximum limit on how much you will have to spend out of pocket each year.

Below, this Medicare Supplement broker in Boone Grove, Indiana is going to explore some of the key things you should know about Medigap Plan L.

Medigap Plan L balances cost-sharing and financial protection.

Medigap Plan L pays for some of the costs that Original Medicare does not fully cover, but it does not give you complete coverage like some other Medigap plans do. Instead, it gives you partial coverage for many essential services, like Medicare Part A coinsurance and hospital costs, hospice care coinsurance, skilled nursing facility care, and Part A deductibles.

But what makes Plan L special (and why many people choose it over other plans) is its cost-sharing structure, where the insurance company covers 75% of the costs for Plan L benefits, and you are responsible for the other 25%. While you will still have to pay for some of your medical costs, Plan L sets a maximum out-of-pocket (MOOP) limit, which saves you from paying excessive medical bills. In 2025, this MOOP limit is $3,610, and once you have spent that amount on covered medical expenses for the year, the plan will cover 100% of your costs for the rest of the year.

This combination of cost-sharing and a spending limit gives you a good balance of affordability and financial protection. So, it can be a great option if you want to keep your monthly costs low but still want some predictability in how much you can spend overall. If you would like to know more, an experienced Medicare Supplement broker in Boone Grove, Indiana can walk you through all these details and help you decide if this plan is a good match for you.

Medigap Plan L offers lower premiums but has some cost-sharing responsibilities.

One reason people are drawn to Medigap Plan L is its lower monthly premiums compared to more comprehensive plans like Plan G or Plan F. On average, the monthly premiums for Plan L are between $182 and $212, but the exact amount can be different depending on your age, where you live, and your overall health.

Although you will save money on monthly premiums if you choose Plan L, you will have higher out-of-pocket costs throughout the year because of the 25% cost-sharing. So, whenever you use your plan for medical care, you will need to pay part of the costs until you hit the MOOP limit of $3,610. After that, your plan will cover all your expenses for the rest of the year.

This structure makes Plan L a good option if you want to save money upfront but don’t mind paying a little more when you use healthcare services. If you are not sure how to balance these costs with your healthcare needs, a Medicare Supplement broker in Boone Grove, Indiana can help you make sense of all the numbers and decide if Plan L suits your budget and lifestyle.

Medigap Plan L is ideal for healthy individuals who want affordable Medicare supplements.

Medigap Plan L best suits people who want financial security but are okay with sharing some of their healthcare costs. It can be especially helpful for people who are generally healthy and don’t expect to visit the doctor frequently or need a lot of medical care.

Plan L may also appeal to you if you want flexibility in your healthcare plan. Like all Medigap plans, it lets you see any doctor who accepts Medicare because you are not restricted to a specific network of providers.

But if you think you might need a lot of medical care (think frequent doctor visits, ongoing treatments, or expensive procedures), you are probably better off with a more comprehensive plan, like Plan G. Even though the premiums for Plan G are higher, it covers almost all your medical costs, which can save you a lot of money over time.

A Medicare Supplement broker in Boone Grove, Indiana can help you compare Plan L versus other options, so you are in a better position to choose a plan that best matches your search criteria.

Looking for a Medicare Supplement Broker in Boone Grove, Indiana?

Are you looking for an experienced Medicare Supplement broker in Boone Grove, Indiana who can help you choose the right Medigap plan for your needs and budget? If so, look no further than Senior Care Insurance Services. Whether you are interested in Medigap Plan L for its cost-sharing benefits or if you are looking at other Medigap options, we will give you personalized advice to help you make the best decision for your future. Contact us today to learn more.