Let’s take a moment to talk about Medicare Supplement Insurance Plan F. Watch the accompanying video for a better understanding of the plan.
Remember Medicare has PARTS and Medigap has PLANS. As of June 1, 2010 there are 10 Medigap Plans, standardized by the government and distributed to you, the consumer, through Medicare Supplement Insurance Companies.
Within these 10 plans, the most comprehensive Medigap Insurance Plan is Plan F.
Plan F covers:
-Part B coinsurance
-Part A deductible
-Part B deductible
-Part B Excess
-Foreign Travel Emergency
With Medicare Part A, any length of stay between 1 and 60 days will cost you a 1,156 dollar deductible. What most people don’t know is that this deductible is only good for 1 benefit period which consists of 60 days. So say you check into the hospital in January and pay the Medicare Part A deductible. If later in the year, you find yourself in need of a trip to the hospital again, you must again pay that $1,156 if it’s been more than 60 days since your last visit.
Hypothetically, this situation could occur many times a year, so you could end up paying big money.
Plan F covers this deductible even if you incur it multiple times through-out the year.
The plan is designed to cover high risk gaps that are not covered by original Medicare.
What do we mean by high risk gaps?
If you are to EXCEED 60 days in the hospital Original Medicare pays all but $289 per day. If you’re in the hospital for 90 days, you could pay up to $8,670 on top of your original Medicare Part A deductible
Exceed 90 and you’re looking at $578 per day up to a total of $34,680
Medigap Plan F will cover this plus up to 365 days after Original Medicare coverage ends.
Here’s another misconception:
Now, one of the biggest chunks of your senior health care bill is paying for doctor charges and medical supplies. Through Medicare Part B, Medicare pays for 80% of these expenses, but what most people don’t realize is that Medicare only pays 80% of what the government deems reasonable. Medicare Supplement Plan F, on the other hand, pays the entire billed amount including that other 20%.
Does Medigap Plan F sound like the right option for you? Fill in your zip code below to get the application process started by speaking to a listened Medicare Supplement Agent. Or go directly to the free Medigap quote page here.
Medigap Plan F © 2012 MedicareMall.com