How to Know Whether Medicare Part F is Right for You

Medicare-supplemental-coverage infographicYou may be familiar with Medicare Parts A through D, but if you’re looking for the most comprehensive coverage available, you need to know about Medicare Supplement Plan F, sometimes called “Medicare Part F.”

Considered the “Cadillac of Medicare supplemental coverage,” this Medigap plan picks up where other Medicare plans leave off. It still has its own limitations, and it is important to gain an understanding of your options to select the right policy for your needs.

Medicare Plan F covers many different things, and as long as Medicare approves the charge, you will typically have no out-of-pocket cost at all, according to our partners at Trusted Choice.

Some of the Medicare gaps that Plan F covers include:

  • Your deductibles, coinsurance and co-payments for Medicare Parts A and B
  • One year of additional hospitalization coverage at no additional cost
  • The first three pints of blood you may need if hospitalized
  • Skilled nursing facility coinsurance
  • A foreign travel emergency benefit (after a $250 deductible) up to $50,000, which is a great addition to your plan if you’re an active traveler in your golden years.

Plan F is one of the most comprehensive Medicare supplement plans you can purchase, but it doesn’t cover everything. This plan will not cover the following:

  • Things that Medicare doesn’t normally cover, like acupuncture, vision exams and dental work, are not included in Plan F coverage
  • Plan F also does not cover skilled nursing care after the first 100 days
  • Hospitalization after the first 90 days (which are covered by a combination of Medicare and Plan F) and the subsequent additional 365 days (which are fully covered by Plan F); essentially, you have about 455 covered hospitalization days before your coverage with this plan is exhausted
  • A $250 deductible for foreign travel emergency costs, paid annually.

Choosing a health insurance policy involves comparing costs and benefits, and finding the right balance for you. Take time to research your options and get advice from our well-qualified  professionals at Wade Insurance Agency.

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