Is Medicare Supplemental Plan F The Best Plan?

Medicare Supplemental Plan F was designed to pay 100 percent of all medical expenses not fully covered by Medicare Part A and Part B. With this plan there is no referral needed to visit a specialist, and your annual out-of-pocket medical expenses are limited greatly by having this coverage.

While there are 10 standardized Medigap plans in total, Plan F by far is the most popular. The term standardized means that regardless of which insurance carrier offers the plan each company must offer the exact same benefits.

What Does the Plan Cover?

Plan F is the most comprehensive of all the Medigap plans, paying 100 percent of the gaps in Medicare Part A and Part B. Out of the 10 plans offered this is the only plan that does this. The closest plan in coverage is Medigap Plan G which is also an excellent choice. The only difference between Plans F and G is with Plan G you must pay the Part B deductible yourself each year out-of-pocket.

Medicare Part A (Hospital services)

Has a deductible should you be admitted into the hospital. This is over $1100 per benefit period, which is each time you get admitted within a year provided 60 days have passed between visits. If you remain in the hospital over 60 days your coinsurance would be $296 per day up to day 90, then increase to $592 per day up to day 150.

Medicare Part B (Doctor’s Services)

Also has an annual deductible of $147 per year (2013) that must be paid prior to Part B paying 80 percent of your medical bills. These are just a few of the gaps in both.

Plan F Pays items such as the following:

  • Skilled nursing facility coinsurance
  • Part B excess charges
  • Foreign travel benefit (covers 80 percent of emergency costs during foreign travel after you meet a $250 deductible)

Choice of Any Provider in the Country

With supplemental insurance for Medicare you are allowed to visit any medical provider in the country provided they accept Medicare patients. This allows for outstanding coverage while traveling as you are not tied to any network. This also includes specialists and you do not need to receive a referral to see one.

Guaranteed Renewable

Medicare Supplemental Plan F as well as the other plans are all guaranteed renewable. This means that provided you continue to pay your monthly premium your policy will never be cancelled. As well an insurance carrier can never raise your monthly premium based on your own health claims. All rate increases apply to members of the same class that are also insured under your plan and live in your state or area.

Rates are subject to change and likely will, therefore it’s important to check with your agent each time this occurs to see if there are better options for you available from other carriers.

Adding a Part D Prescription Drug Plan

If you have Medicare Part A and B in effect along with a Medicare Supplement it’s very common that you would also enroll in a Part D drug plan. There are many different insurance companies that offer these plans. The easiest way to see which Part D drug plan is best for you is to click HERE.

How To Choose a Company

Now that we’ve learned that every company has the exact same Plan F, there are some easy steps to help you choose the best insurance company to obtain a policy from. Using this website is a great first step to help educate yourself, as well as get current quotes on the various plans from multiple carriers. There is however, more to the process of enrolling in the right plan.

Using an experienced and knowledgeable agent who is independent (represents multiple companies) is your best option while shopping for coverage. You do not pay any extra money for our services, yet we can find you the lowest premiums for the best coverage on Medigap policies in your area. As well, we’ll shop the rates each year to see which company offers the best coverage should you get a rate increase. This way you’re always paying the lowest premium that you qualify for your Medigap plan.

Finding the best Medicare Supplemental Plan F is easy once you follow these simple steps. To view quotes online just enter your zip code below.


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