Medicare Plan F is one of the many Medigap policies available. These coverages are beneficial for a great deal of senior citizens. As a Medicare supplement insurance policy, the plan is often used to cover any costs stemming from Medicare Part B excess charges. While this is a decent description of this coverage, there is a bit more to Plan F.
What Is Medicare Plan F?
Medicare Plan F is a supplement insurance policy that offers greater assistance to cover out-of-pocket medical costs from the original. While Plan G is close, most find Plan F to be the most comprehensive Medigap policy out of the ten. Due to this fact, the premiums for this plan tend to be higher. Plan F covers nearly all remaining medical expenses from hospitals and doctors after Medicare has paid what it will.
The Benefits of Medicare Plan F
If you purchase this policy, you’ll be getting the greatest Medicare benefits you can. The plan is extensive and almost exhaustive, but not everything can be covered.
Here is a list of benefits covered by this policy:
- Medicare Part A deductible
- Medicare Part B deductible
- Medicare Part A coinsurance and co-payment
- Medicare Part B coinsurance
- Any excess charges pertaining to Medicare Part B
- Part A coinsurance and hospital costs for an additional year after Medicare runs out
- Three pints of blood in medical procedures
- Foreign travel emergency policy (80%)
- Co-insurance in skilled nursing facilities
Medicare Supplement Plan F is the most comprehensive Medigap policy, but it doesn’t cover every single cost you’ll have with the original coverage. You’ll still need to pay for Part B premiums and some other expenses.
Costs Surrounding the Plan
The benefits of this program are standardized in most states, but the pricing and premiums are not. So you’ll receive the same benefits no matter the plan you choose, while the cost can vary from insurance agency to insurance agency and state to state.
Plan F will be the most expensive form of Medigap coverage due to the wide-ranging nature of the plans. If costs are a concern, there is a high deductible version of Plan F that helps many people looking for more coverage with lower costs. Plan F is simply for people looking the most comprehensive policy they can find.
2020 Medicare Plan F Discontinued
As of 2020, you will not be able to enroll in Plan F. The ruling came down in an attempt to no longer offer coverage for the Medicare Part B deductible. The good news is current policyholders will still be able to get covered for Part B deductibles. While many people are upset about this ruling, the only thing you can do now is get covered before it’s too late.
Don’t Wait Too Long
So why wait? 2020 Medicare Plan F discontinued is happening. Don’t miss out on your chance to enroll in the most comprehensive Medigap policy. Plan F won’t be around forever. Take advantage of this important policy while you can. To learn more about this coverage and enroll, please get in touch. We look forward to solving any and all of your Medicare concerns.