The Medicare supplement Plan F is often regarded as the best supplemental plan available, but you need to consider carefully if it is going to be a decent choice for you. You have a lot of options, and while you can complete a Mutual of Omaha Medicare Plan F online application without obligation to start paying, you need to stop and think before you sign for the plan.
What Plan F Offers
You need to know what Plan F is going to cover for you before you decide whether it’s a good pick or not for medical insurance.
Plan F is the one supplement plan that covers each supplemental expense. That’s a lot of different items, and we are going to look at them so that you can better understand why this plan is so popular and why it may be excessive for most people.
First off, it will cover you for both deductibles. That’s the deductible for Medicare Part A and the one for Medicare Part B. It’s the one and only plan that covers the Part B deductible, so take that into consideration when you are deciding on a coverage plan. Do you need that deductible covered or would you be better off paying the $183 expense on your own?
Plan F also covers you for all the co-payments. That’s the co-payment for Part A and for Part B. These are common expenses that Medicare leaves you to pay, since it only covers 80% of Medicare parts A and B.
Further coverage that is provided by Plan F includes coverage for your nursing care coinsurance. Keep in mind that this coverage is only for approved nursing services and facilities. There will be some healthcare facilities where Medicare won’t be accepted or where this item of coverage may not qualify.
You will also be covered for pints of blood. You get three more each year, and that is on top of the blood coverage provided by Medicare’s basic plan, which you must have if you are going to sign up for Medicare Plan F.
You also get covered for foreign travel exchange cost, for as much as 80%, and only after you have paid the required deductible.
Hospice care is covered as well, and that’s an additional 365 days of coverage beyond what the base Medicare plan provides.
Finally, Plan F will cover you for Medicare Part B excess charges. This is an expense you won’t likely be paying very often, but it comes in handy when it does occur. Only Plan F and Plan G will cover it for you.
How Does Plan F Compare?
You have several different Medicare supplement plans to choose from. You don’t have to pick Plan F, even though lots of other Medicare subscribers will be picking it over plans that are better for them. Plan F is on the extreme end of coverage. Nothing will provide you with more coverage for your supplemental medical expenses, At the same time, nothing will cost you more either. It’s an expensive plan, and that means it could be excessive. That high price tag makes it a hard plan to recommend, since many people will just be wasting their money with some of the coverage it offers.
It’s a good idea to fill out a Mutual of Omaha Medicare Plan F online application and see if the plan is affordable for you. You will also find out if you are eligible for it at this point. You can still back out at any time and go with a different plan altogether, but filling out the application is a good first step in making an informed decision on the plan.
Unless you have a lot of medical expenses and you visit the hospital and doctor’s office frequently, Plan F probably isn’t the right plan for you. It’s a high coverage, high cost plan, and what it provides can be excessive. You are often able to save money by choosing a cheaper plan.
Plan G and Plan N are the often-recommended alternatives to Plan F. They come with some coverage that is very similar, but they cost less, of course. They shave off some of the more unnecessary and frivolous coverage. At some point, you may need to pay for those expense that are left uncovered, but if you don’t think you would pay for them very often, the it’s a bad idea to pay for full coverage on them.
Some of the other plans offer partial coverage on some of these expenses, and it may be worth your time to consider those.
Once you do the math and compare these plans and their prices, you may be surprised to find out how much money you are losing with Plan F. That’s for the average person, though. If you really do need constant medical care and you have a lot of expenses that your current plan isn’t taking care of for you, then Plan F is worth a look. You can simply examine the plane and see how it measures up to what you need covered.
That means you will have to do some self-examination during this process. It’s a good idea to consider your own needs first and then look for a plan that meets those needs (plus adds a bit more for a safety net). Plan F covers everything, and you want to be careful about assuming you are going to need all that coverage or assuming that it will be cheaper to have some expenses covered than to pay for them on your own.
It’s your decision, thought, and we want it to be a wise one. It can be difficult to change your plan right after you have signed up for it. You may need to wait about a year, until your plan’s term is up and you can freely choose another plan.
Just examine Plan F and see if it is the most suitable plan in your situation. You can fill out the Mutual of Omaha Plan Medicare F online application to begin and then go from there.