Medicare Supplement Plan F Pays as follows: Pays for all the Medicare A and B gaps, deductible and copays.
No out of pocket expense.
High Deductible Plan F is also offered. 2013 deductible for the ‘High Deductible Plan F’ is $2110. Therefore, if you purchase High Deductible Plan F, then you must pay up to $2110 out of pocket before the Medigap High Deductible Plan F will pay anything.
|Medicare Part A Coinsurance and Hospital Costs up to an additional 365 days after Medicare benefits are used up||Yes|
|Medicare Part B Coinsurance and Copayment||Yes|
|Blood (First 3 Pints)||Yes|
|Part A Hospice Care Coinsurance and Copayment||Yes|
|Skilled Nursing Facility Care Coinsurance||Yes|
|Medicare Part A Deductible||Yes|
|Medicare Part B Deductible||Yes|
|Medicare Part B Excess Charges||Yes|
|Foreign Travel Emergency (Up to Plan Limits)**||Yes|
What Is Medicare Part F?
The advantage of getting covered under Medicare Plan F is that you will be allowed to get additional coverage. This part covers all additional costs that would have to be borne by you during hospitalization or during your treatment at the clinic of a doctor, which would have ended up as out-of-pocket expenses in other parts of your Medicare. Part F Medicare is a Medicare supplement plan that allows you the benefits that you would enjoy in Medicare Part A and Medicare Part B, plus much more. For instance, in case of hospitalization you get all the benefits of Medicare Part A coinsurance along with 365 days of additional coverage even after yourMedicare benefits have ended.
Similarly, you will be covered for Medicare Part B coinsurance of 20% of your Medicare expenses or even co-payments in case you require outpatient services of any hospital. You will also be eligible for Medicare supplement Part A andMedicare supplement Part B deductibles for hospitalization and outpatient expenses. You can also choose the high deductible option in Medicare supplement Part F. You will have to pay a deductible of $2,000 for the year before you receive any benefits from the plan. However, even though you might end up paying lower premiums for a high deductible Medigap Part F option, you might end up paying a lot more of your OWN money in the event you fall ill.
In addition, the plan will also pay for the first three pints of blood every year in case you require it during your treatment. Medicare supplemental Part F also takes care of any excess charges in Medigap Part B of Medicare. If you travel abroad and need medical help urgently then that too is covered under Medigap Plan F. You will also be covered in case you require skilled nursing for your care and will also be eligible for recovery-at-home benefits. However, you will not receive any benefits as far as prescriptions are concerned or if you prefer to visit a specialist instead of your family doctor in the case of certain diseases or ailments.
Since Medicare Part F is a supplemental coverage in addition to Medicare, it would be prudent if you do a little research on the Insurance provider that will cover you with this plan. Your State Insurance Department should be able to provide you with a list of companies that offer such plans. You should make sure that you choose a company that is financially strong and offers competitive premium rates, and does not increase it at each renewal. An insurance company that is flexible enough to accommodate your requirements should be preferred.
Your Medicare policy might cover you for basic costs, but since there are large gaps through which you could slip and hurt yourself financially it would be better if you get covered under Medicare plan F. This will help to soften the blow in case you fall ill in your country or even outside. You should call a competent insurance company and go in for Medicare plan F after verifying all related facts.
Medicare Supplement Plan F
If you choose the right Medicare Supplement Plan (like Medicare Supplement Plan F) you will never have to pay a single dollar when you receive treatment in a physician’s office, hospital or specialty treatment center that accepts Medicare.
So this means that when you choose Medicare Supplement Plan F, whether your doctor or hospital bills are $1 or $1,000,000, you will never have to pay anything for doctor or hospital bills as long as Medicare approves a penny of the charges.
With Medicare Supplement Plan F there are:
- No Deductibles to pay
- No Co-Payments
- No Referrals Necessary. Medicare Supplement Insurance Companies have no bureaucracy to deal with for you or your physician.
- No Claims Paperwork or Hassles
- No remaining bills to pay if you choose Medigap Plan F