With so many choices in health care coverage for Seniors today, it can no doubt be a tad confusing. There’s of course Medicare Part A and B, Part D prescription drug plans, Medicare Advantage plans, and of course Medicare Supplements. One thing is for certain, if you are looking for the very best coverage to supplement your Medicare then Medigap Plan F stands among the top choices for those turning or over the age of 65.
Medigap Plan F is the only plan out of the ten Medicare Supplement plans offered by Medicare that pays both the Part A deductible (Over $1100!) as well as the Part B deductible, and also pays any Medicare Part B excess charges 100%. For a low monthly premium you can have the peace of mind in knowing all of your medical bills are paid 100 percent. There’s NO deductibles, NO copays, and NO coinsurance to pay! With Medicare Plan F you have complete flexibility of choosing your own doctor, and you do not even need a referral from a specialist.
Plan F is even offered in a high-deductible option. With this version, you get the benefit of paying much lower premiums each month than you would with standard Plan F, however you must meet a deductible before the plan will pay any of your out-0f-pocket expenses. In 2013 this deductible is $2110 per year. After that deductible is met, your plan pays 100% of the gaps. Keep in mind that Medicare Part B still pays 80% of your medical bills until you reach the deductible. Many people believe they must pay 100 percent of their medical costs themselves prior to getting any coverage at all, and this simply is not true.
What Does Medigap Plan F Cover?
The Basic Benefits of Plan F are:
- Hospital Coverage; Plan F covers the Part A coinsurance as well as an additional 365 of hospital coverage after Part A Medicare benefits are exhausted
- Doctor’s Services expenses; All Part B coinsurance is paid by the plan. This is the 20 percent of bills that Medicare does not cover.
- Blood deductible; A Medicare Plan F pays for the first three pints of blood each year. Typically this would need to be paid out-of-pocket.
Additional Benefits paid by Plan F:
- While regular Medicare offers up to 21 days in a skilled nursing facility, Medicare Part F covers up to 100 days
- Plan F pays the Medicare Part A hospital deductible each benefit period
- The plan also pays the Medicare Part B deductible for all outpatient and medical services
- Pays an emergency travel benefit; After a $250 deductible is met while traveling, the plan pays 80% of all medical charges
Because not all companies that offer Medigap plans have Medicare Plan F available, it’s extremely important to receive the help from an experienced agent or use our website to compare carriers. Medigap Plan F is standardized, which means although several companies might offer it, they all must include the exact same benefits.
That being said while they might have identical coverage, the premiums for each of these companies differs very much. In fact, you might find a Medicare Supplement Plan F from one company that could be as much as $100 or more per month over another company! Enter your zip code below to see Plan F comparisons and find which companies have the lowest rates. Get the best coverage but don’t pay too much for it!