Plan F covers the Part B deductible as well as 100% of Part B excess charges, which is the difference between what a doctor charges and the amount Medicare Part B will approve. Members can choose any doctor or hospital that accepts Medicare patients. Plan F goes with you when you travel anywhere in the U.S. and pays a benefit if you receive emergency medical services while traveling outside the U.S. (up to plan limits).
Those seniors who decide to buy a Medigap plan, 66% choose F, according to the American Association for Medicare Supplement Insurance, a trade organization. The main reason why most of them pick plan F is that it covers everything. They don’t care if they pay the most costly premium as long as they don’t have to worry to pay anything out of pocket like co-pays and deductible.
Jesse Slome, executive director of the American Association for Medicare Supplement Insurance, a trade group, concurs. "At 65, you want the best. Sign me up for the free colonoscopy. My internist wants me to go for a test. If it is totally covered by Medicare, I'm there, baby," Slome says. "By 65, you learn where to save and where not to save. At the end of the day, you aren't going to save on your health care."
Plan F costs can be relatively reasonable in terms of monthly premiums for the level of coverage. Although Plan F offers the most comprehensive coverage, Plan F can often allow for lower total health expenses compared to other options available. The rates for Plan F will also depend on the current health conditions, age, gender and tobacco use for the person interested in enrolling in that plan.
To learn more about Plan F or have additional questions, please contact us. We will be happy to answer your questions and provide more information about Plan F and the other Medicare supplement insurance plans that may be a good fit for you.