Medicare Plan F – The essentials

Original Medicare Parts A and B, i.e., hospital and medical insurance, respectively, provide cover for senior citizens above the age of 65. However, there are also several Medicare Supplemental policies (also known as Medigap insurance) that range from plans A to N and provide additional benefits that are not included under Original Medicare. Medicare Part F provides for most expenses that are not covered under federal benefits. Here is a detailed overview.

Coverage
Medicare Plan F provides robust insurance coverage and is one of the more popular supplemental policies. Private insurance providers can give this additional insurance over and above original Medicare benefits already applicable for the year under Parts A, B, and D. However, those who have already opted for Medicare Advantage Plans under Part C cannot opt for supplemental Medigap. Expenses covered mainly include the out-of-pocket dues for copays and coinsurance to pay for costs over and above Original Medicare. This plan also provides tax-deductible coverage.

Benefits
Plan F takes care of all particulars related to these categories of expenses:

• Hospitalization services, skilled nursing home facilities, hospice care, and blood units, which are not covered in Part A.
• Medical expenses, Part B excess charges, blood transfusions, and clinical laboratory services, which not covered in Part B.
• Home Health Care Services approved by Medicare and the cost of durable medical equipment, which are not covered in Parts A and B.
• Foreign travel expenses, which aren’t covered under Original Medicare.
• Deductibles not covered under Parts A and B, like preventive care.

Costs
Factors like insurance providers, ZIP code, carrier for insurance, and even personal habits like smoking or use of tobacco can significantly increase the cost of premiums payable. In 2020, this deductible cost was set at approx. $2340 and the estimate for 2021 is set at approx. $2370. However, as per amendments made this year in Medicare policies, Plan F shall no longer be available for applicants who have purchased this supplemental insurance after January 2020.

Top providers
Here are some of the most popular providers of the Medicare Part F supplemental insurance:

• Humana
  Humana Supplemental Plan F coverage offers $0 deductibles, $0 visits to specialist doctors without the need for any referrals, and discounts on multi-policy households and other additional services. This plan is recommended for those looking to avail a number of extra services that Plan F can pay for and bring down the total cost.
• AARP
  AARP offers detailed Plan F assistance during the application process when it comes to buying supplemental insurance from private providers. One of the key aspects is to understand the cost breakup and bifurcate between what expenses can be claimed and which expense cannot be covered. With AARP, you will get monthly estimates that are conveniently broken down according to your age, gender, location, and plan type.
• Aetna
  Aetna offers a decent household policy discount and covers most of your foreign travel emergency expenses incurred for hospitalization during the first 60 days of travel. Aetna’s Plan F pricing is also relatively low in comparison other private insurance providers. Using just the date of eligibility for original Medicare, your date of birth, and ZIP code, you can browse the insurance offers avail benefits under supplemental plans.
• Cigna
  Cost breakup is one of the most crucial aspects of Medicare and Cigna ensures a straightforward approach when it comes to Supplemental Plan F coverage. This provider makes it easy to understand the gaps in insurance coverage. Experts help you plan a policy that pays for all costs that you may otherwise pay out of your pocket for hospitalization and additional medical services.