Plan F Supplemental Plan Is A Comprehensive Medigap Plan You Should Conksider Buying
Medicare supplemental insurance plans can prove to be a daunting task when you become eligible for insurance. The choices you have to make may seem confusing. Original Medicare pays only 80 percent of any bill that your medical providers submit for payment. One thing you quickly learn though is that you must purchase supplemental private insurance, referred to as Medigap insurance, to pick up the remaining 20 percent charges that Medicare does not reimburse. There is a particular Medigap plan that you should consider purchasing, and it is called Medigap Plan F.
Medigap Plan F
Be aware that you must be eligible for Medicare Part A and Part B in order to obtain Medigap insurance. If you do not buy Medigap insurance, you'll be billed for 20 percent on your medical bills until your deductible has been met in full. Plan F is the only Medigap plan that pays the cost of your annual Medicare deductible. Medicare starts reimbursing your health care providers after you've met your deductible. That's a big deal when you live on a strict budget, and it can be very difficult for seniors on a limited budget to meet that deductible amount so early in the year. Thanks to Plan F, you won't have to pay that deductible. It pays that charge without your ever receiving a bill for it.
Why Is Plan F So Very Important?
Knowledgeable sources assert that this plan offers you the most comprehensive option of all Medigap plans. They suggest that it not only pays for your annual Part A & Part B deductible but it also covers the 20 percent portion of your Part B coinsurance and any other extra charges that your health care visit might have incurred. The plan also provides for health care services you might need when you are traveling in a foreign country.
Plan F Is Expensive
The only downside to Plan F is that it is a very expensive plan. It was affordable to most people when the government first advised Medicare patients to purchase Medigap insurance several years ago. This plan's monthly charges have reportedly sharply risen to as much as $181 monthly nationwide, according to a website article. The article further notes that charges do range between $155 and $197 per month across most states. Expensive premium charges appear to dominate on the east coast while western states accordingly have lower rates for this plan.
Guaranteed Benefits In All Medigap Plans
One thing you should be aware of is that there are some fundamental insurance benefits that you are entitled to in any Medigap plan that you choose, and a website suggests that you should acquaint yourself with those benefits it recommends below.
- Part A hospital care insurance
- Part B coinsurance or co-payment
- Part A Hospice Care coinsurance or co-payment
- Guaranteed 3 pints of blood if needed
For more information, check out sites like http://scis.us.