Plan F is a Medicare Supplement coverage plan that takes care of lots of different medical expenses for you. We want to show you what Medicare Supplement Plan F in 2019 is offering and why you may or may not want to sign up for it.
Medicare supplements are designed for seniors to use with Medicare’s basic plan, and if you already have that basic plan, and you pay for medical expenses out of pocket that are kind of hard to afford, then you may need supplemental insurance.
What Does Plan F Offer?
If you get Plan F, then you can start enjoying a whole host of coverage for your medical expenses. There is no variation in one Plan F to another. This plan, like other Medicare Supplements, is sold through a number of different insurance companies. These companies can choose the prices they want to charge for these plans and even pick which plans they want to offer, but they cannot decide how much coverage a given plan has. Only Medicare gets to affect, change or guarantee coverage on a given Medicare Supplement plan, even though Medicare does not sell these plans directly.
Plan F has guaranteed coverage, and it is not scheduled to change at all through 2019. So, if you look that coverage the plan has right now, in 2018, you will know exactly what to expect if you sign up for a 2019 plan. This Medicare Supplement plan is what is known as a full coverage plan and as such, it will cover you for every supplemental insurance expense you could possibly accrue.
So, what are supplemental expenses? Well they are medical expenses that you have to pay yourself from your own pockets if you have a Medicare basic plan but not a Medicare Supplement plan. Even if you have certain Supplement plans, you may still have to pay some supplemental expenses but not with Plan F. This one takes care of all of these.
Supplemental expenses are those medical costs that are left over for you to pay after the basic Medicare plan does its part in providing medical coverage to you. There may be there medical costs that neither the basic plan or the Supplement plan will cover, though, and you need to be aware of that. Don’t think that you are fully covered for every possible medical expense just because you have a basic Medicare plan as well as Supplement Plan F.
However, Plan F does offer some powerful coverage, and combined with basic Medicare, this is some robust coverage for most medical expenses. The majority of people will have very few, if any, medical expenses to pay out of pocket once they have the combined power of these two plans working or them.
We are not going to get into what basic Medicare covers for you right here in this article. You can look that up if you like, but what we want to focus on for now is the coverage provided by Medicare Supplement Plan F.
Plan F will cover you for all of your Medicare Part A and Part B deductibles. The deductible is what you pay each year for coverage for a specific part of Medicare. If you have basic Medicare, then you have to pay those two deductibles, but if you have Plan F, then you are covered for them. Plan F is one of the few Supplement plans to provide coverage for Part B’s deductible.
Plan F also covers you for Medicare Part A and Medicare Part B copayments. These are paid for each visit to the hospital or doctor’s office for services related to Medicare Part A or Part B.
It can also cover the Medicare Part B excess charges, which you would normally have to pay on your own if you go for Part B services at a medical facility that does not fully accept Medicare coverage. That’s not something most people will have to worry about, but for those who do, it’s great to have this coverage, as it can take care of some hefty costs.
Plan F will also provide coverage for foreign emergency medical travel, such as when you are transported by helicopter or ambulance to a medical facility not within the US borders. This coverage item is only for up to 80% of your total costs for this service, and it only provides cover after you pay the required deductible.
You can be covered as well under Medicare Supplement Plan F in 2019 for blood usage- as much as three more pints each year than you get covered for by Medicare’s basic plan.
Plan F also provides cover for coinsurance costs due for hospice and skill nursing care services. These are copayments you have to make if you receive service related to these kinds of medical care. Basic Medicare covers you for much of those services but requires you pay coinsurance on them, which would be covered under Supplement Plan F.
Is Plan F the Best Choice?
Now, when it comes to Medicare Supplement plans, you should know that there are ten of them in all. These plans offer you a lot of different levels of coverage, and you may not need the full coverage provided by Plan F. You will need to assess your personal coverage needs and the kind of expenses you pay for medical care each month to determine what you need to have covered. You may be okay with just little bit of coverage, and you may not need supplemental coverage at all, much less Plan F.
However, this plan is beneficial to many seniors, and they do save money by signing up for it, since it covers many medical services that they would otherwise have to pay for on their own. However, compared to other Supplement plans, particularly Plan G or Plan N, Supplement Plan F can have a poor value to cost ratio. Yes, it does cover you for a lot of medical expenses and sometimes at a reasonable rate, but Plan G and Plan N are slightly stripped back affairs compared to Plan F, and they cost much less (in many instances) while covering almost the same medical expenses. It’s worth looking into these other two plans, if you are interested in Plan F but want to save even more money.
It’s always a good idea to look at similar Medicare Supplement plans to see if there might be a good one for you that costs less or that covers you better. You should choose the plan that will save you the most money while covering you in the most suitable way. That means picking a plan that meets your coverage needs and causes you to pay less for medical care out of pocket while not stretching your budget too much with its monthly premiums.
You do have to make monthly payments on any Supplement plan you sign up for, and those can add up. You can save some money on them by comparing prices on different versions of the same plan from different insurance companies. Remember that no company can alter the coverage, so if you want a lower cost version of Plan F than what you have been finding when you search online for prices, then just compare more prices. You can use price comparison services to compare a bunch of prices at once and find the best possible deal.
How to Apply for Plan F
Does Plan F sound like it might be a good fit for you? if so, then you need to know how to sign up for it and where you can get it. You can start by looking at local insurance companies or companies that serve your area with medical insurance. Get some quotes from them to determine the best price and then send in an application to the one you think is the best fit for you.
You can apply online, filling out a short form, and then wait for a response. That response can take a few days to come, so be patient. You should not have any trouble qualifying for the plan you chose, be it plan F or something else, if you meet the minimum requirements. For Medicare Supplements plans, that would be simply achieving 65 years of age and being a US citizen.
If you already have a basic Medicare plan, then you already qualify for Supplement plans as well. It’s not something that is difficult to become eligible for. You do need to have a basic Medicare plan, though, in order for the Supplement pans to work. You cannot purchase a supplement plan alone. You can either sign up for them both at the same time or sign up for a basic plan first.
If you are approved for a Medicare Supplement Plan F for 2019, then it will start providing you coverage on January 1st of 2019. Be sure to sign up before then so that you can start enjoying the coverage it offers for medical care.