It’s the Cadillac of Medicare Supplemental insurance and been around for a long time. Not only that, it’s also the most popular plan sold year afteryear. The reason for this is simple. Plan F, which is one of the ten standardized Medicare Supplement Insurance products offered covers 100% of the gaps in original Medicare. What does that mean exactly? Remember Medicare pays approximately 80% of the costs of healthcare related to doctor’s and hospital services. The 20% that’s not paid for by Medicare is your responsibility and that’s were a Medicare Plan F Medigap can be extremely valuable especially if you have or expect to have medical bills into the thousands or ten’s of thousands of dollars.
No matter how much the medical bills are, if you have original Medicare and Plan F Medigap, and the services are approved by Medicare, you pay nothing out-of-pocket. When’s the last time you had a medical service and didn’t have to pay anything because your health insurance covered it. Probably never, right? Yes, you have to pay the monthly premium for the Medigap plan and if you need to know what that is just give us a call.
Medicare Supplement Changes are Coming.
It’s almost to good to be true and that’s why if you want a Plan F Supplement you need to get on it sooner than later, if you’re eligible. New Medicare legislation recently announced that both Plan F and Plan C Medicare Supplement Insurance would no longer be available to purchase after January 1, 2020. The government and folks at the legislative branch including CMS and HHS, believe that seniors should at least pay a little bit of money to receive health services and that will be achieved by forcing all Medicare beneficiaries to pay at a minimum the Part B annual deductible current set at $183 annually. There are only two Medicare Supplement plans that cover the Part B deductible and they are Plan F and Plan C.
Plan F will no longer be sold 2020
If you are not turning 65 or otherwise eligible for Medicare in the next two and half years (as of the date of this posting) your not going to get a Plan F or Plan C supplemental insurance plan. So what’s the next best thing? Right now that would be Plan G and it’s almost the same as Plan F only you’re responsible for paying Medicare the $183 annual deductible. The good news is that Plan G is always less premium and in some cases $400-$500 per year less than Plan F.
If you would like to know the premiums and availability of any Medigap insurance plan simply get in contact with us and we can provide that to you at no cost.
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