For most people over 65, Medicare coverage is vital, to ensure you are able to receive the basic medical services you need as you get older. However, there are several areas of medicine for which Medicare doesn’t cover you, and in order to provide this additional coverage, you can choose to buy a separate policy, called Medigap. There is a choice of 10 different Medigap plans, plans A-N, and the one chosen by the largest number of people is Plan F.
What it Covers
So what makes this plan so right for so many people? Medicare coverage has gaps in 9 specific areas, many of which could be very important as you get older, and if you find you need these, you will have to pay for them yourself, unless you have Medigap insurance. Plan F is actually the only one of the Medigap plans that covers all 9 of these areas.
Even Plan F doesn’t cover everything — you still have to pay your Part B premiums every month, plus your premiums for Part D drug coverage. However, the great thing is that all these are taken directly from your Social Security payments once they start, so you don’t need to worry about them. What’s more, when you receive a service that’s covered by the plan, you don’t have to file a separate claim — Medicare sends your claim directly to your Medigap insurance provider for payment. So Plan F is made as stress-free as it possibly could be.
Alternatives to Plan F
Although Plan F is the most popular, it may actually turn out that a different plan is more advantageous for you. One reason this may happen is if the difference in Medigap rates between Plan F and another plan is greater than the extra benefit you receive from Plan F. For instance, the only difference in coverage between Plan F and Plan G is the Part B deductible of $147 per year, but if the premiums for Plan G cost you $20 less per month, this would work out at $240 less per year, which would more than cover the $147 difference — so Plan G would be more beneficial for you. In order to find the plan that is best for you, you can let us help you get a Medigap quote.
All this no doubt seems incredibly complicated, but we at CompareMedicalSupplements.net are here to help you. Our aim is to ensure you find the best Medigap insurance plan for your needs, whether it’s Plan F or a different one. Please feel free to get in touch with us at any time, with any questions or concerns you may have.