Medicare Supplement Part F – Most Comprehensive Among All Ten Medicare Plans
Medicare part F provides health cover for the following:
- Co-Insurance coverage expenses offered for Medicare part A for additional 365 days after your standard Medicare policy limits are exhausted.
- Additional supplemental coverage provided for Medicare part B in co-insurance and co-payments or 20% of your out patient bills.
- Co-Insurance payment for skilled nursing facility (SNF)
- Coverage offered for foreign travel emergency. (Limit Of $50,000)
Certain amount of deductibles and extra medical service payments need to be born by you.
- Co-Insurance and Co-Payment for hospice care.
- Deductible for Medicare part A and part B
- Blood deductible coverage in an approved medical procedure
- This plan also has a high deductible Medicare Plan F option if you wish to opt for. If you do, you need to pay around $2,070 (amount in 2012) before your plan
Basically, Medicare part F health plan would pay for any additional charges over and above what Medicare part A and B have already taken care off. It is a good add on to your standard Medicare policy.
What Does Medicare Part F Plan Does Not Cover?
In one sentence, Medicare part F plan does not cover anything which Medicare itself doesn’t cover, but just to specify:
- It does not pay for any expenses incurred while you are recovering at home.
- Does not cover preventive health services.
What Are The Requirements To Buy Medicare Part F Plan
- First things first, it is but obvious, to buy Medicare part F plan you need to have Medicare part A and Part B.
- You keep paying premium for your standard Medicare Part B policy and additional premium to the insurance company providing you Medicare plan F.
- NOTE: – If you ever decide to switch over from a Medicare to
Medicare Advantage Plan
then you don’t need a Medicare part F plan. you can drop the coverage.
How Much Does Medicare Part F Supplemental Insurance Cost?
- The cost of Medicare Supplemental Insurance includes expenses for out of pocket expenditure, any deductible you choose and monthly premiums. It also includes cost of co-payments and co-insurance.
- Additional cost of stay at hospital beyond 356 days when your medicare limits are used up.
- If you have availed the services beyond 101 days in skilled nursing facility then you pay.