Medicare Supplement Plan F
Is the most popular and the most comprehensive plan available. Unlike Plan G, Plan F covers the yearly Medicare Part B deductible while also offering complete coverage for excess charges. This is extremely important to remember as Medicare reimbursement to health care providers is declining. With reduction in payment, doctors are beginning to not accept Medicare assignment, which means they can charge 15% above the Medicare approved amount. This additional 15% is referred to as Part B excess charges, and Medicare Supplement F & G are the only two standardized Medicare Supplement Plans that include this benefit. People who purchase Medicare Supplement Plan F rarely have any out of pocket expenses for medical charges.
- Hospital Deductible (Medicare Part A Deductible): $1,408 benefit
- Hospitalization: Part A co-insurance (20%) plus coverage for 365 additional days after Medicare benefits end.
- Medical Deductible (Medicare Part B Deductible): $198 benefit
- Medical Expenses: Part B co-insurance (generally 20% of Medicare-approved expenses) or co-payments for hospital outpatient services).
Medicare Part B Excess Charges (Above Medicare Approved Amounts):
- Blood: Plan pays first 3 pints of blood each year.
- Hospice: Part A coinsurance
- Skilled Nursing Facility Co-insurance: Plan pays up to $176 per day for the 21st thru 100th day.
- Foreign Travel Benefit: After $250 deductible, covers 80% up to a lifetime maximum benefit of $50,000.