There are several Medicare supplement plans available to seniors. Of these, Medicare Supplement Part F 2021 will provide you with the most extensive coverage. It is a supplemental insurance plan that attaches to the Original Medicare plan and provides some extra coverage for you. Supplement Plan F fills the coverage gaps left by original Medicare. It also takes care of many, if not all, of your out-of-pocket medical expenses.
How Plan F Is Going to Cover You
Medicare Supplement Plan F is designed as a full-coverage plan. That means supplemental expenses you pay out-of-pocket with Original Medicare are covered. Here is what is included.
Supplemental expenses associated with Medicare Part A are covered by Plan F. These are annual deductible of $1,364 and various co-payments for each inpatient stay at the hospital. Coinsurance costs associated with hospice care are also covered.
The Part B leftover costs are also completely covered by Plan F. These are excess charges you are responsible for if you are treated for outpatient care. You incur these charges if your medical facility of choice does not fully accept Medicare. It is the deficit between the doctor’s charges and Medicare coverage. The Part B deductibles of $185 that you pay annually will also be paid for you. It further includes the Part B co-payments for each outpatient care visit.
Nursing care coinsurance costs are covered as well. Along with these, three pints of blood each year, and the foreign travel exchange expenses are catered for. The foreign travel cost applies if, for instance, you need to be transported outside the US for emergency medical treatment. It covers up to 80% of the cost of each incident and you will receive maximum coverage of $50,000 over your lifetime.
Signing Up for Plan F
Did you know Plan F is a discontinued plan as of January 2020? You should know this before you try signing up for it. It will not be available to most people, especially the newly eligible. It is a continuing plan for the current Plan F subscribers. Therefore those benefiting from the coverage can decide to renew it and stay signed up. Those are the only people who can get Plan F right now, though. Most seniors cannot sign up for this plan if they do not have it already.
Plan F was in the recent past available to the general public. However, with many insurance companies choosing to overcharge for it, the government stepped in and legislated on this plan. MACRA legislation led to discontinuing both Plan F and C. This made sure that it was no longer available to new subscribers. This severely limits who can access the plan. If you were planning to enroll in this plan for the coming year, 2021, then you are out of luck. There will be no Medicare Supplement Plan F 2021 available to you unless you have its 2019 version.
The Cost of Plan F
The cost range for Plan F is between $159 and $234 per month. This represents the monthly premiums you are obliged to pay. These premiums vary in cost from one insurance provider to the next. Before you sign up with any insurer, check how much they are going to charge you. If you are wondering exactly how much the providers in your area charge for Plan F, then you can use our website to find out.
In our site, we enable you to source quotes very easily. We provide you with a list of quotes showing each insurer’s charge. This way you can compare their costs and find a good deal that is custom-made for you. It is an easier way than trying to go to each insurance company individually and asking them what their rates are. We offer current and up-to-date quotes that are always accurate and specific to your area.
What Are Your Plan F Alternatives?
Are you unable to sign up for Plan F? Do you want a plan that is cheaper or offers less coverage? Then you can look into a few of the Supplement plan alternatives. These are other Medicare Supplements (Medigap) that offer some similar coverage to Plan F but cost less and are more widely available.
Our two major recommendations as alternatives to Plan F are Plan G and Plan N. They offer similar coverage with few exceptions at lower prices. Anyone can sign up for these policies, as long as they are eligible for Medicare. These plans are not affected by MACRA.
Plan G covers you for almost all of the same medical benefits as Plan F. The only item it won’t cover is the Medicare Part B deductible. It is the second most comprehensive supplement plan.
Plan N covers you for slightly less than Plan F and G but it also charges you less. With Plan N you pay the Part B deductible, the Part B excess charges, and a couple of smaller Part B co-payments of $20 and $50.
A valid Medicare Part B plan is a prerequisite for you to receive any supplemental coverage. You sign up for these two at the same time. However, no coverage will be provided by your Supplement plan until you start to receive coverage from Medicare Part B.
If you have any questions about Medicare Supplement Plan F 2021 or any of the Medicare plans and your eligibility, then please let us know. We have the answers to your questions. We would be happy to help you find quotes from various insurers and compare them. For easy ways to get a good deal and save money on your health insurance, please use our site. This will ensure you are not paying too much for any medical insurance plan. You are free to come back at any time and use our price comparison tool. With this, you will find the right coverage plan for you. We are happy when you are and we are here to provide you with the best services.