The least expensive Medicare Supplement insurance plan, in terms of monthly premiums, is typically Plan K. Plan K offers more limited coverage compared to other Medigap plans, covering 50% of Medicare Part B coinsurance and copayments, the first three pints of blood, and hospice care coinsurance or copayment, among other things. However, it also comes with a lower premium, making it an appealing choice for those who want basic coverage at a lower cost. Beneficiaries who select Plan K should be prepared for higher out-of-pocket costs when they access healthcare services. Another low-cost option is Plan L, which is similar to Plan K but covers 75% of the same benefits. Both plans have an annual out-of-pocket limit, which is a unique feature among Medigap plans. Once this limit is reached, the plan pays 100% of Medicare-covered costs for the rest of the year. While Plans K and L have lower premiums, they may not provide sufficient coverage for everyone, especially those with higher healthcare needs. Beneficiaries should carefully consider their healthcare usage and financial situation when choosing a plan.