If you’re 65 or older, you have probably learned about Medicare Parts A and B, but are you familiar with Medicare Part F? Adler Insurance, Prescott’s independent Medicare broker, talks about why the extensive coverage provided by Medicare Part F makes this such a popular plan.
It’s possible for beneficiaries to be left with no or only minimal hospital and medical debt because Part F covers most remaining hospital and doctor costs after Original Medicare (Part A and Part B) has paid its share.
Regardless of your location, you can expect the same exact basic benefits for a Part F supplement sold anywhere in your state. Even though the basic coverage is the same, premium costs may vary.
For those who don’t mind paying for out-of-pocket costs up front, there is also a different high deductible Part F choice. This variant of the regular Part F requires beneficiaries to pay every out-of-pocket expense till the deductible is reached (which for 2018 is $2,240). After meeting the deductible, the high-deductible Part F starts to pay for Medicare-covered costs.
What does not change between the standard Part F and the high-deductible Part F option are the basic benefits:
- Part A hospital and coinsurance costs up to an additional 356 days after Medicare benefits are exhausted
- Part A hospice care copayment or coinsurance
- Part B coinsurance
- Part B excess charges
- Part A deductible
- Part B deductible
- First three pints of blood used in an approved medical procedure (annually)
- Foreign travel emergency coverage (80%, up to plan limits)
- Skilled nursing facility coinsurance
If you see a doctor frequently, or you require a lot of health-care services, or are facing mounting out-of-pocket expenses, the comprehensive coverage of Part F generally offers the most help with your Original Medicare costs.
Still wondering what is the right Medicare plan for you? Call the experts at Adler Insurance today at 928-710-1455 to learn more about Medicare Part F or any Medigap plan coverage available to Prescott residents. Learn more at http://www.adlerlifehealth.com.