Medigap Plan F in 2018 can’t be used as a replacement for Medicare part B, but you have to be enrolled in both part A and part B first before you can be eligible for enrollment in Medicare plan F, when either supplemental plan F or G is added to your benefits (original Medicare), then your coverage will be quite comprehensive.
The reasons why Medicare plan F is most preferred is because it pays for all the gaps made by original Medicare (part A and part B), adding your hospital and out-patient deductible. It goes far as paying the 20% that Medicare part B doesn’t cover, which means it’s a zero out of pocket when you visit your doctor. Medicare plan F also covers all Medicare part B excess charges, which means you will never pay the 15% standard excess charge that doctors under Medicare are allowed to collect charge for part B services, you are also allowed the freedom to choose any doctor or physician from over 880,000 in the united states without the use of referrals, which allows you to see or visit any doctor or any Medicare specialist whenever you prefer, you are also not required to get any referral from your primary care doctor.
Medicare plan F also is responsible for payment of your deductibles and co-insurance, which means, if you don’t have any supplement, you would be owing Medicare an $1,316 deductible (i.e. Part A deductible) whenever you visit the hospital, you would also be required to clear the 20% procedures like surgery because part B pays only 80%, but if you have the Medicare plan F, all of these will be paid by your insurance.
The cost for Medicare varies, depending on your location, gender and even tobacco status. In most areas, the price has been reported to be around $120 – $140 each month for only a female who is turning 65, while most times, the Medicare plan F cost for individual males will be obviously a slight higher than the cost for individual females.
Changing of plan F insurance company usually requires the answering of series of questions usually health related, with the new supplement plan F company, However, it is discovered that a whooping percentage of 75% of plan F clients pass the questions with ease. Although the benefits encountered in the previous company will still be experienced in the new one you wish to join.
Out of the ten (10) Medicare supplemental (Medigap) policies, Medigap F is generally, viewed as the most comprehensive plan available in most states. It’s expensive coverage makes it well sorted for beneficiaries who wish to have a broader assistance with out-of-pockets costs in original Medicare, this also means that premiums may be even more expensive because most remaining hospital and doctor costs are covered by the Medigap plan F after original Medicare i.e. part A and part B, has its share paid, it is likewise for beneficiaries to not have any or minimal other hospital and medical expenses with this plan.
Benefits for medigap plan F in 2018 supplement just like other medigap plans, are of standard in most states, which means that regardless of where you live or which insurance company covers you or you purchase from, you still get the same exact coverage for a plan F sold anywhere in your state, also know that there is a high deductible version of plan F and also, even though benefits are the same, the premiums may differ for that coverage.
Medicare supplement plan F lists of cost and benefits covered by it are listed below:
(a) a Few Medicare benefits are exhausted, part A hospital and co-insurance costs goes up to an additional 356 days.
(b) Co-payment and co-insurance for Medicare part A hospice care.
(c) Medicare part B co-insurance and excess charges and deductible.
(d) Medicare part A deductible.
(e) First three pints of blood used during an approved medical procedure (yearly).
(f) Foreign travel emergency coverage.
(g) Skilled nursing facility co-insurance.
Although the broadcast coverage of any of the ten (10) Medigap plans is offered by Medicare supplement plan F, it still doesn’t cover all of the costs you may have in original Medicare. For instance, you will still need to keep paying your Medicare part B premium payments every month. You are likely to owe a premium for part A if you haven’t worked enough to qualify for premium free Medicare part A, typically at least ten years or even 40 quarters. Well Medicare supplement plan F does not cover these costs out of pocket. Your location is likely to affect the cost of plan F or the insurance companies that sell Medicare supplement insurance plans in your locality.
There is a high deductible plan F option for beneficiaries who don’t mind paying for out-of-pockets costs upfront. The standard plan F that requires beneficiaries to make payment for all out-of-pocket expenses up to the deductible, which is $2,200 in 2017. The plan begins to pay for Medicare-covered costs after the deductible has been met.
You may be able to find out other Medigap plans with lower premium as a Medicare beneficiary. However, if you see the doctor frequently, or require a lot of health care services, or you are facing mounting out-of-pocket expenses, the comprehensive coverage of plan F generally presents the most preferred help with your Medicare parts A and B cost.