Did you know that many of the people who have Medicare supplement Plan F in 2018 might be overpaying for their insurance? They can actually be covered just as well by other lower-coverage insurance plans and pay a lot less. If you are thinking about getting Medicare Supplement Plan F for 2018 you might want to consider your other options.
With plan F, you get the full coverage package. That means that any medical expense that Medicare would call supplemental is covered under this plan. What does that include? Here is the list of medical expenses covered by Plan F:
- All nursing care services
- All supplemental hospice care
- All copayments (both Part A and Part B)
- All Medicare Part B excess charges
- Three additional pints of blood for each year
- Up to 80% of foreign medical emergency care (after a deductible and limited to $50,000)
- All Medicare Part A and B deductibles
Once Plan F has finished covering you, there should be very little you have to pay on your own. Between this supplement plan and Medicare basic, you should be mostly covered. And while that peace of mind this coverage can offer may be nice, it could also be costing you a lot of money. Plan F is often unfairly priced when compared against plans with slightly lower coverage, like Plan G or Plan N.
These plans have nearly the same coverage as Medicare Supplement Plan F for 2018, but they don’t often cost nearly as much. This makes them far more cost effective. And how is that? That’s because you can pay for one of these lower-coverage plans and pay for the expenses not covered by them out of your pocket and still have money left over before you get up the cost of Plan F.
That’s only for most people, however. There are some people who will actually use all the coverage that Plan F provides. These are few and far between, however. Most people just aren’t going to be getting the kind of value out of Plan F that they think they are.
Before you decide on a plan, particularly one as costly as Plan F, you should carefully weigh your options. See how the plan and the coverage it offers match up to the coverage you actually need. Consider how much the plan costs and if that additional coverage it offers over other plans is worth that extra cost. You may find after you do the research, that Plan F is not the great plan you thought it was.
Many Medicare subscribers who are signed up for this plan are actually paying more for their coverage then they should be. They could get almost the same coverage from Plan G or Plan N and be able to pay the remaining medical expenses on their own and still not pay as much money out as they would for Plan F. Medicare Supplement Plan F for 2018 can be a good deal and it can be a useful plan, but you really have to consider if it is the right plan for you.
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