Plan F is a Medicare Supplement many refer to as the "Cadillac" plan. It covers virtually 100% of all charges approved by Medicare (other than prescriptions). In addition it will cover excess charges. In many states doctors are allowed to charge up to 15% above the Medicare approved amount. Plan F covers this additional charge.
Medicare plan F is a great plan if you have money to burn.
Plan F is the easiest plan to explain, has the highest premium and pays the highest commission. Because of this many agents will promote plan F and never explain other options.
When you shop and compare you will probably find there are plans that deliver better value. Over 90% of my clients choose something other than Medicare supplement plan F and no one picks Advantage plans.
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
There are 9 benefits that Medicare supplement (Medigap) plans can cover - plan F covers all of them at 100% from day 1. Other Medigap plans only cover some of the benefits. The 9 benefits covered under plan F are:
1) Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
2) Medicare Part B coinsurance or copayment
3) Blood (first 3 pints)
4) Part A hospice care coinsurance or copayment
5) Skilled nursing facility care coinsurance
6) Medicare Part A deductible
7) Medicare Part B deductible
8) Medicare Part B excess charges
9) Foreign travel emergency (up to plan limits)
Plan F will generally feature the highest premiums as it provides the most comprehensive coverage. The major advantage of plan F is that it creates the most predictable expense structure for the insured - a critical factor for many of those on a fixed income in retirement.
If you would like to secure a Medicare supplement plan, please feel free to send me a private message (clicking on the "contact me" button), or visit my website, www.TermInsuranceBrokers.com, to review detailed information regarding Medicare supplement plans.
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Plan F is the easiest plan to explain, has the highest premium and pays the highest commission. Because of this many agents will promote plan F and never explain other options.
When you shop and compare you will probably find there are plans that deliver better value. Over 90% of my clients choose something other than Medicare supplement plan F and no one picks Advantage plans.
1) Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
2) Medicare Part B coinsurance or copayment
3) Blood (first 3 pints)
4) Part A hospice care coinsurance or copayment
5) Skilled nursing facility care coinsurance
6) Medicare Part A deductible
7) Medicare Part B deductible
8) Medicare Part B excess charges
9) Foreign travel emergency (up to plan limits)
Plan F will generally feature the highest premiums as it provides the most comprehensive coverage. The major advantage of plan F is that it creates the most predictable expense structure for the insured - a critical factor for many of those on a fixed income in retirement.
If you would like to secure a Medicare supplement plan, please feel free to send me a private message (clicking on the "contact me" button), or visit my website, www.TermInsuranceBrokers.com, to review detailed information regarding Medicare supplement plans.