Medicare offers a lot of different Supplement plans, and one of the most popular and the highest coverage plan is Medicare Supplement Plan F 2019. We want to examine that plan for you here and show you what it has to offer and why it may or may not be a good choice for you.
Medicare Supplements Explained
Before we get into Plan F in particular, let’s look first at Supplement plans in general. These are plans that provide additional coverage to the Original Medicare plan. They are designed to work with that plan, and you cannot sign up for a Supplement plan without first signing up for an Original Medicare plan.
You can only sign up for one Supplement plan at a time, and you do that by going to insurance companies that sell the plan. There are about a dozen different Supplement plans, and while many of them are similar, they all have key differences that set them apart from one another.
Supplement plans come with a monthly premium, and those premiums vary from one plan to the next and from one provider to the next. The insurance companies that sell Medicare Supplements can choose how much they want to sell the plans for and what member benefits they want to attach to them. They cannot change what those individual plans cover, though; only Medicare can decide that.
What Plan F Offers
Signing up for Plan F will give you some powerful coverage. You would be covered for every supplemental expense there is. That means that basically all the common expenses that Original Medicare leaves for you to pay will be covered under this plan. Let’s look specifically at what those expenses are.
First up is the Medicare Part A coinsurance payment. That is something you would be responsible for paying each time you go to the hospital and receive Part A service. Medicare covers the majority of Part A costs, but expects you to pay the coinsurance payment, and Plan F will cover that for you.
It also covers the Part A deductible. That is an expense you have to pay on your own once a year, if you don’t have supplemental coverage. Plan F can cover that costly expense for you as well as the Part B deductible, which is far less expensive. The Part B deductible isn’t covered by many of the Supplement plans, so if you want it take care of, then Plan F will be just about your only option.
Plan F also provides coverage for Medicare Part B’s copayment that you pay for each visit to the doctor or hospital for Part B services. It is also going to cover you for Medicare Part B excess charges. That’s a charge that is accrued whenever you go for medical treatment at a facility where Medicare is not fully accepted. This is an expense people don’t usually pay often, so you may want to check to see if it applies to you. Of course, you can’t say for certain if you will need to have specific medical expenses covered over the coming year, but you should be able to tell whether you will be going to medical facilities that accept Medicare or not.
With Plan F, you also get coverage for nursing care services copayments. The primary cost of nursing care services is covered under the Original Medicare plan, but the coinsurance is yours to pay unless you have a Supplement plans such as Plan F to take care of it for you.
You can be covered for blood use too, which is already covered under Original Medicare, but once that runs out, then the supplemental blood coverage will step in and provide coverage for you. You get as much as three pints of blood covered by the Supplement plan each year.
You can be covered by Medicare Supplement Plan F 2019 for transport costs when you are taken to a medical facility that is not within the US. This coverage will take care of as much as 80% of the cost for each time you need that emergency medical transport, and it covers you for up to $50,000 over your lifetime.
These are all the coverage items that make up Plan F’s full coverage offering. No other Supplement plan can provide you with as much coverage, but no other Supplement plan costs as much either.
Apply for Plan F
You may or may not be interested in Plan F, and it may or may not be a good choice for you, but you should know how to apply for it and get approval, just in case you ever do decide to go to this plan. The application process we will cover here, the benefits we already covered and all other information about Medicare Supplement Plan F are all accurate for the 2019 version of the plan. Nothing has changed about it from the previous year, and you can expect it to stay the same for the foreseeable future.
In order to apply, you just need to visit a website or office for an insurance company that is selling it. You can simply fill out their application form and then submit it, if you meet the eligibility requirement. There is not a lot to the eligibility for Medicare Supplements. You simply have to be 65 or older and have an Original Medicare plan. Once you meet those requirements, there should be no reason for an insurance company to deny your application.
Is Plan F the Right Choice?
You will have to determine for yourself if Plan F is the right way to go for your medical insurance coverage. You do have other options, and we urge you to consider them. Most seniors, after looking at some of the other available Supplement plans, will choose one of them over Plan F. They often find Plan F to be too pricey for what it offers.
We can really only recommend this plan to people who need lots of extra coverage for their medical expenses and who can find Plan F at a good price. Keep in mind that no matter how much or how little you pay for this plan, you still get the same coverage, which is everything we listed earlier for this plan.
When you compare the cost of Plan F to Plan G or Plan N and you compare their coverage, you can usually see that the price is usually far higher for Plan F than either of those other plans, but the coverage is very similar. Plan G, for example, only takes away coverage for the Medicare Part B deductible- a $183 expense. Plan N takes away a little bit more, but not much. You can usually save some money by choosing one of these plans instead. More and more seniors are realizing that and are switching from Plan F to something else that is similar but much cheaper.
If you are still on the fence about Plan F or are not sure how it compares to your other options, then we suggest looking at some of the other plans in more detail. Look at what they are covering and how it compares to your personal needs. You may find that there is a plan that would work a lot better for you.
You also want to compare rates on the various plans to see how affordable some of your options are. You may very well find an affordable version of Plan F, but you won’t know what a good deal it is unless you compare the prices on the plan and among the other plans.
Be sure to give yourself lots of time to consider your other options and determine if Medicare Supplement Plan F 2019 is right for you.