Of all 10 Medicare plans, plan A has the smallest amount of coverage, and thus the lowest overall price. It covers:

• Part A Coinsurance & Hospital Costs
• Part B Coinsurance or Copayment
• First 3 Pints of Blood for Transfusions
• Part A Hospice Care Coinsurance or Copayment

While this is not as comprehensive as the other options, it is still extremely beneficial, and especially helpful to those working with a tight budget. Similarly, plan B is essentially the same, but with additional Part A deductible coverage.

Often overlooked are plans K and L. Plan K covers:

• 100% of Part A Coinsurance and Hospital Costs
• 50% of Part B Coinsurance/Copayment
• 50% of the First 3 Pints of Blood for Transfusions
• 50% of Part A Hospice Care Coinsurance or Copayment
• 50% of Skilled Nursing Care Facility Coinsurance
• 50% of the Part A Deductible

As you can see, this plan offers a wide variety of coverage, but at a lower percentage. With this plan, you will have half of all of these benefits covered, the other half coming out-of-pocket. Plan L offers coverage in all the same areas but at 75% rather than 50%. These plans are one of the best ways to lower your overall costs while still receiving coverage for a variety of benefits.