Medicare Supplement Plan F
Nothing reduces costs like Medicare Supplement plans. It works like this – you get treatment. After you get treatment, Medicare approves an amount for your doctor to charge you. But instead of leaving you to cover what’s left after Medicare pays, your Medicare Supplement comes in and eliminates that out-of-pocket cost.
There are 10 Medicare Supplement plans. These plans are A, B, C, D, F, G, K, L, M, and N. These all offer great savings, but Medicare Supplement Plan F covers the most of them all.
How Do I Get Plan F?
Your ability to join a Medicare Supplement plan depends on when you turn 65 and your Original Medicare coverage becomes effective. Typically, once this happens, you will have just six months to add a Supplement plan. The insurance company may make you go through medical underwriting if you enroll past these six months, and you may be denied coverage.
However, do note that Medicare Supplement Plan F is restricted to those who turned 65 before January 1, 2020. But if you turned 65 before that and you’re currently enrolled in Plan F, you will be able to keep your plan.
What Does Plan F Cover?
Plan F is very appealing because it has the most comprehensive coverage you can get.
Medicare Supplement Plan F covers:
• Medicare Part A hospital coinsurance (and all other costs for 365 days after Medicare coverage has been exhausted)
• Part A deductible
• Part A hospice care coinsurance or copayment
• Skilled nursing coinsurance
• Part B deductible
• Part B excess charges
• Part B coinsurance or copayment
• 80% coverage for foreign travel emergency
• First three pints of blood
Who Is This Policy Right For?
Medicare Supplement Plan F is ideal for those in dire need of additional coverage.
If you are frequently getting both inpatient and outpatient treatments, then you will be saving yourself from limitless out-of-pocket expenses. For instance, at the hospital, you won’t have to face the automatic $1,484 deductible that others would have to pay upon first getting inpatient treatment. If you spend more than 60 days in the hospital, you’re saving yourself from paying $371 in coinsurance every day, and after 90 days, $742 every day until you have to foot the entire bill after 150 days.
While Part B saves you 80%, 20% of a bill can still be daunting. Medicare does its best, but the reality is, medical bills are still costly. Medicare Supplement Plan F fixes that.
Now, if you do not qualify for Plan F, you can still enroll in a comprehensive plan known as Plan G. It covers everything that Plan F does, except for the Part B deductible.
We Can Get You The Coverage You Need
Eldridge Agency is your go-to for Medicare Supplements. We put you first so that you don’t have to put your needs last. We’re here for you, and we will make sure that the plan you get is the right one. To find out more, call us today at 775-328-1197.
