Medicare Supplement Plan F
Medicare Supplement plans are the best plans that you can get to help with Medicare-Approved cost, like Coinsurance, Copayments and Deductibles. These types of plans will also cover things that Medicare will not pay for as in going to a Foreign Country. With these plans you have to have Medicare part A&B to be able to get on one of these Medicare Supplement plans. Now you will have a monthly premium with these types of plans, but nothing in this world is free anymore. These plans are standardized, so therefor you do not have to worry about if the insurance company is going to cover your bill(s) or not. Although I recommend Mutual of Omaha it does not matter what insurance company you go with. As long as your doctor accepts Medicare then they have to accept your Medicare Supplement plan.
How do these plans work exactly?
There are a total of ten Medicare Supplement plans that you can choose from. Three of them I recommend to all of my clients.
Medicare Supplement Plan F – High Deductible
Starting with the best plan that you can get what we like to call the Plan F, or the Cadillac plan. This plan is going to cover you 100%, you will have no out-of-pocket expenses other than the monthly premium. You will NOT be responsible for copayments, coinsurance, or deductibles, but with the high deductible just pay an annual deductible of about $2180.00 a year.
Now on to the second best plan that you can get is the Medicare Supplement Plan G. This plan is barely different than the Plan F. With the Plan G you will have the monthly premium, with no copayments and no coinsurance. But what makes this plan different from plan F is that you will be responsible for the Medicare Part B deductible. Once you have reached that deductible then you will be covered 100% just like the Plan F.
The last plan that I personally recommend to all of my clients is the Plan N. This Medicare Supplement Plan is a little different than the other two. With this plan, on Part A of Medicare you will be 100% covered. But on Part B of Medicare you will still be responsible for the Part B deductible along with what is called a Part B Excess Charge. What that means is if you go to the doctor and you have the Plan N, then in most states by law the doctor can charge up to 15% more of the Medicare-Approved amount. Also, with this Plan N you would have up to a $20 copayment at some office visits along with a $50 copayment if you go to the ER and do NOT get admitted into the hospital.
Here at 1-800-Medigap we know there are a lot of companies and even more questions to answer. That’s why we have Licensed Brokers standing by to answer all of your questions. As well as able to give you the most up to date rates from the best companies. Please call us at 1-800-Medigap or you can reach me at 901-KORTNI8